César Alierta, former president of Telefónica and Tabacalera and well-known shareholder of Real Zaragoza, died last Wednesday, January 10, at the age of 78 in Zaragoza due to complications from heart disease.
The former president of Telefónica accumulated considerable assets during his time at the head of one of the most influential companies in Spain. With a fortune that includes 75.5 million euros of accumulated salary, a pension of 54.2 million and shares valued at 45 million at the end of his term, according to El Mundo, it remains to be resolved who will be the heir to his legacy. .
Without obvious direct heirs – he did not have children with Ana Cristina Placer and they backed out when it came to adopting -, rumors and speculation revolve around names like Isabel Sartorius, who lived important moments with Alierta at the end of her life, and his nephew-in-law Javier Placer, who was with him at Beta Capital and Telefónica.
The relationship between Alierta and his nephew was very close. In fact, after the death of his wife in 2015, Alierta dedicated herself even more to Placer on an emotional and professional level. Thus, they came to have a very special kind of parent-child relationship.
Although the businessman also adored the rest of his nephews, he decided to opt for Javier Placer, with whom he was at Beta Capital in the 90s, to direct Telefónica’s innovation area, evidencing the trust and strong bond they shared. He held this position until 2017.
The application of Spanish inheritance law in the case of César Alierta, who died without children and without a widow, implies that his assets would be distributed first between his parents – if they were alive – and then between his siblings. Since the first assumption is not met, the inheritance would go to his brothers.
However, the existence of a will could alter this distribution, as long as the part legally reserved for forced heirs, which would be the brothers in this case, is respected. Additionally, her close relationship with her nephew Javier Placer could have influenced her testamentary decisions, although this will depend on the specific content of Alierta’s will. In any case, no dispute is expected to arise over the distribution.
