Officials say Jose Isabel Ayala died in the accident, which happened around 3:15 on the outer loop of the beltline near Lake Boone Trail.
Ayala was driving the Porsche at a speed of more than 100 mph when he lost control of the vehicle. Ayala was thrown from the vehicle when it struck a guardrail. He was pronounced dead at the scene.
Ayala's passenger and roommate, Clemente Rodriguez, was taken to WakeMed where he was listed in stable condition.
Ayala's parents own the chain of El Dorado Mexican restaurants.
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