Roger Agnelli, the former head of Brazilian mining giant Vale, died along with six other people when a small plane crashed into a residential building in Sao Paulo, friends and media said.
The press office for Sao Paulo state's firefighters confirmed that seven people died in the crash yesterday, while the National Civil Aviation Administration said that the plane was registered to Agnelli, who was 56.
"My family and I are shocked over the tragedy that befell my friend Roger Agnelli and his family," Senator Aecio Neves wrote on Twitter.
Agnelli's death has been widely covered by the Brazilian media, which cited testimony from his inner circle of friends.
Authorities told AFP they still did not have the official list of the deceased.
"The airplane fell with seven people onboard and all died on the spot. We are looking for possible other victims. The residence's owner was rescued," firefighters reported.
Rescuers and security forces rushed to control a fire that broke out at the property, located near the Campo de Marte airport, which is mainly used by air taxis and pilot schools.
