 He was recognized by the Peruvian government as a war hero during the War of the Pacific, between Chile and Peru, due to uncalled-for heroic action by a foreigner, and was also the first foreign Mayor of the Callao port during the 1896-1898 period, being responsible for mayor sanitation and water works, as well as bringing electricity to the South American port.Piaggio formed one of the first large business groups in the South American region, with interests spanning everything from finance, commerce, services, mining, and oil.In 1907, based on a University of Pennsylvania letter, Faustino Piaggio owned the oil fields of Zorritos and Los Organos, an oil refinery, several ships, a major trading company working between Callao and Genoa, finance holdings, mines, land holdings, and had a fortune worth about 24 million dollars.