French billionaire and MP Olivier Dassault was killed in a helicopter crash in Normandy on Sunday. 

The 69-year-old tycoon, who had been a lawmaker for the conservative Les Republicains (LR) party  since 2002, was leaving his holiday home in the coastal resort of Deauville, in Normandy, when the private helicopter crashed shortly after departure. The pilot was also killed.

Dassault was the grandson of World War I aircraft designer Marcel Dassault, founder of the aircraft manufacturing company Dassault Aviation, also owner of Le Figaro newspaper, and the eldest son of aviation billionaire Serge Dassault.

Together with his two younger brothers and sister, Dassault had inherited one of the biggest family fortunes in France. According to the Bloomberg Billionaires Index, Dassault was the 12th richest person in France and the 361st richest man in the world with a net worth of $7.15 billion, according to the 2020 Forbes rich list.

He had stepped down from his role on the board of Dassault to avoid any conflict of interest with his political career.

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President Emmanuel Macron has mourned the loss of the billionaire on Twitter, saying that "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." 

"Great sadness at the news of the sudden passing of Olivier Dassault," tweeted Conservative politician Valerie Pecresse, president of the Paris region. 

"A businessman, but also a renowned photographer, he had a passion for politics in his blood, rooted in his department of Oise. My warm thoughts to his family."

The cause of the crash is yet unknown, but the French air accident investigation bureau (BEA) has launched an investigation.