Throughout his career, Ueltschi was always as passionate about philanthropy as he was about business.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

Ueltschi also received numerous awards to celebrate his contributions in both aviation and philanthropy.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

Though accepted into the University of Kentucky, Ueltschi decided not to enroll but to instead focus on flying.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

Ueltschi is survived by his children (2), grandchildren (12) and great grandchildren (6).

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

In 1968, Ueltschi took his firm public and officially retired from Pan Am.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

Albert Ueltschi, founder of pilot-training company FlightSafety International and a longtime member of the Forbes 400, has passed away.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

At the time of his passing, Ueltschi was the Chairman-Emeritus of ORBIS international and had donated tens of millions of dollars to the organization.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

Ueltschi was born on May 17, 1917 in Franklin County, Kentucky.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

Ueltschi made his fortune through Flightsafety International, one of the first companies to specialize in modern aviation training methods, during the largest growth years for the aviation industry.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away

In 2010, with his son James, Ueltschi cofounded another nonprofit focused entirely on restoring sight to over 20 million adults and children suffering from cataract blindness in developing countries around the world.

FORBES: Second-Oldest Forbes 400 Member, Albert Ueltschi, Has Passed Away