All about Olivier Dassault, the billionaire scion of Dassault Aviation

French billionaire politician and scion of Dassault Aviation, Olivier Dassault, met a tragic death on Sunday as his helicopter crashed near Deuville in France. The pilot also died in the crash.

The helicopter with just Dassault and pilot on board, crashed shortly after taking off from Normandy coastal resort of Deuville. The billionaire had a holiday home there. The cause of the crash is not known yet.

French president Emmanuel Macron paid tribute to the politician commenting on his love for France, "Olivier Dassault loved France. Captain of industry, lawmaker, local elected official, reserve commander in the air force: during his life, he never ceased to serve our country, to value its assets. His sudden death is a great loss. Thoughts on his family and loved ones," Macron said on Twitter.

The Dassault family is one of the richest families in France. Olivier was the eldest of the four children of Serge. His grandfather, Marcel Dassault, founded Dassault Aviation which made aircraft propellers in World War One. The powerful business empire made Falcon jets and Rafale fighter jets.

A lawmaker for the conservative Les Republicains party since 2002, Olivier Dassault was considered the 361st richest man in the world alongside his two brothers and sister. He stepped down from his role on the board of Dassault due to his political role to avoid any conflict of interest, reported Reuters. He had a personal fortune of 5.2 bn pounds.

Olivier, seen as the favourite of founder Marcel, was once considered favoured to succeed Serge at the head of the family holding, but that role went to former Dassault Aviation CEO Charles Edelstenne.