HispanicBusiness

A massive 7.2 magnitude quake struck Chile Thursday, just as billionaire Sebastian Pinera was being sworn in as president.

The temblor was officially an aftershock of the monster 8.8 quake -- one of the largest in recorded history -- that killed hundreds in late February.

In a grim reminder of the disastrous quake on Feb. 27, the country evacuated its coastline Thursday along a 900-mile stretch of coastline.

Meanwhile, the businessman Pinera is the nation's first conservative leader since General Pinochet led the country with an iron fist in the 1980s, the UK's Independent reported.

Pinera, 60, is an investor and economist. He built his fortune with his involvement in the introduction of credit cards to the country in the 1970s.

He owns Chilevision, a TV station that broadcasts nationwide, as well as 13 percent of the soccer club Colo-Colo.

Pinera has had run-ins with authorities. In 1982, he spent 24 days in hiding after he was accused of violating the Banking Law, but he was acquitted.