Argentina's richest man, Carlos Bulgheroni, dead at 71

September 3, 2016 7:10 PM EDT

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BUENOS AIRES (Reuters) - Argentina's richest man according to Forbes, energy mogul Carlos Bulgheroni, died on Saturday in the United States, where he was hospitalized following a surgical procedure in June, his company said.

The 71-year-old Bulgheroni, along with his brother Alejandro, owned Pan American Energy, Argentina's second-biggest oil company, behind state-run YPF.

According to local media, Bulgheroni had been battling cancer for years.

Forbes estimated that Carlos and Alejandro Bulgheroni had a fortune of $4.8 billion, making them the 324th richest people on earth.

In July, Bulgheroni's Pan American Energy said it will invest $1.4 billion in exploring and producing Argentina's conventional and unconventional energy reserves.

(Reporting by Eliana Raszewski; Writing by Anthony Esposito; Editing by Dan Grebler)

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