Businessman Juan Miguel Villar Mir, former finance minister and former vice-president of the first government of the Spanish monarchy during the transition period after Franco, died this Saturday at the age of 92 in Madrid.
A native of the Spanish capital, where he was born on September 30, 1931, Juan Miguel Villar Mir holds a doctorate in civil engineering from the Polytechnic University of Madrid, a law degree from the Complutense University and a diploma in industrial organization from the Madrid Institute of Economic Development in Washington (USA).
He began his professional career in teaching and was a professor at the Polytechnic University of Madrid. In the 1960s, he held the positions of Director General of Employment and Secretary General of the National Fund for Labor Protection, investing in business life in 1968, being President of Hidro Nitro Española, Altos Hornos de Vizcaya and Altos Hornos del Mediterráneo.
In 1975 he was appointed Minister of Finance and Vice President for Economic Affairs of the first government of the monarchy, chaired by Arias Navarro, where he remained until July 1, 1976.
From this position, he initiated tax reform with increases in taxes on luxury and property transfers and introduced personal income tax bills to the court.
He then returned to business, focusing on the construction and real estate sectors, heading the companies Electro de Riesgo, Obrascón, Espacio, Promotora Playas Españolas and Inmobiliaria Umbral.
After acquiring Huarte y Lain in 1999, he created OHL, one of the most important construction companies, of which he acquired all the shares in 2006.
On June 21, 2016, he announced his resignation as OHL president and handed over the reins to his son, Juan Villar Mir de Fuentes. However, he continued to serve as president of the Villar Mir Group, the OHL’s majority shareholder, until May 12, 2021, when he became president emeritus.
He was also vice-president of Real Madrid in 1995, during the presidency of Ramón Mendoza, and ran for the club’s presidency in 2006.
Villar Mir became the owner of one of the five largest Spanish fortunes, according to Forbes magazine. However, since 2015, his empire has faced excessive debt, and he has been forced to sell some of his property.
Author: Lusa
Source: CM Jornal
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