Botín was married to the Marchioness of O'Shea, and they had six children. His daughter Carmen was married to golfer Seve Ballesteros from 1988 to 2004. He died on 9 September 2014, of a heart attack in Madrid. Botín was survived by his six children and nineteen grandchildren. Botin's eldest daughter Ana Patricia Botín, previously head of Santander's British business, was appointed as chairman after his death.