The chairman and co-founder of Chinese conglomerate HNA Group passed away following an accidental fall in Provence, France, the company said on Wednesday.
Wang Jian, 57, was injured in a fall during a business trip, and died on Tuesday, South China Morning Post reported citing a brief official statement. No additional details were divulged by HNA.
Wang's death comes at a time when the company continues to grapple with high debt.
He played a vital role in the company's rise from a regional, state-controlled company to an enormous conglomerate. He along with co-founder Chen Feng transformed a regional airline based in China's Hainan province into a conglomerate with US$230 billion in assets.
The company is said to have huge stakes in Deutsche Bank, hotel chain Hilton and skyscrapers in London.
Two years ago, the company also bought an American technology distributor Ingram Micro for $6 billion, as per several media reports.
The company published its website in monochrome as an apparent mark of respect.