Maria Amalia Lacroze De Fortabat Argentine aristocrat and philanthropist Date of Birth: 15.08.1921 Country: Argentina

1. Biography of Maria Amalia Lacroze de Fortabat
2. Early Life and Marriage
3. Business and Philanthropy
4. Later Life and Legacy

Biography of Maria Amalia Lacroze de Fortabat

Maria Amalia Sara Lacroze Reyes Oribe de Fortabat Pourtale was born on August 15, 1921, in Buenos Aires, Argentina. She was the daughter of Amalia Reyes and Daniel Lacroze, members of prominent Argentine families. Her grandfather, Federico Lacroze, built the first tram route in Buenos Aires in the 1880s. Her maternal family was related to the president of Uruguay, Manuel Oribe.

Early Life and Marriage

Maria grew up in Paris and returned to Argentina in 1942. She married Hernan de Lafuente and they had a daughter named Maria Ines. However, the couple divorced in 1943. Maria then met Alfredo Fortabat, a divorced industrialist, and they began a romantic relationship. They wanted to marry, but Argentine laws at the time did not allow divorced couples to register new relationships. As a result, they had a wedding ceremony in neighboring Uruguay in 1947.

Business and Philanthropy

Married life with Alfredo proved to be strong, and Maria became an indispensable companion during his business trips abroad, thanks to her sociability and fluency in four languages. Alfredo founded the company 'Loma Negra' in 1926, which became a leader in cement and concrete production in Argentina during the 1950s and 1960s.

After Alfredo's death in 1976, Maria became the majority owner, president, and chairman of 'Loma Negra.' In the following years, the company strengthened its position in the market and acquired 65% of the private company 'Ferrosur Roca.' However, during the national economic crisis in 2001, 'Loma Negra' faced a debt of 270 million USD, which worsened after Maria appointed her eldest grandson, Alejandro Bengolea, as the CEO. Bengolea was dismissed in 2002, and Maria sold 80% of the company's shares. 'Loma Negra' was eventually acquired by the Brazilian conglomerate 'Camargo Correa' in May 2005.

Maria Fortabat became the richest woman in Argentina, with an estimated wealth of around 2 billion USD. She served on the Latin American Advisory Board for Deutsche Bank starting in January 2008. As an art patron, Fortabat amassed an art collection valued at 280 million USD. In 1980, she paid 6.4 million USD for J. M. W. Turner's painting 'Juliet and Her Nurse' from Flora Payne Whitney's collection, setting a record price for a painting sold at auction at that time. She later sold many paintings, including Edgar Degas' 'Mary Cassatt at the Louvre,' which fetched 16.5 million USD at a Sotheby's auction in 2002.

As a philanthropist, Fortabat established the Amalia Lacroze de Fortabat Foundation, which has donated over 40 million USD to charitable causes throughout Argentina since 1976. She also provided assistance to millions of Falklands War veterans and refugees from Kosovo.

Later Life and Legacy

Maria's health deteriorated due to a progressive respiratory illness. She passed away on February 18, 2012, at the age of 91 in her home on Avenida del Libertador in Buenos Aires. She was buried at La Recoleta Cemetery.