Produced as Hugo Rafael Chvez Fras, Hugo Chavez is a favorite political figure in Venezuela his net worth is estimated to be around $1 billion. He served as the country’s president since 1999. His period of service as Venezuela’s president culminated on his departure in 2013.
Hugo Chavez Net Worth $1 Billion
Hugo Chavez is well known for his fire and focus to implement socialist reforms which entail participatory democratic councils, new constitution execution, the nationalization of several vital industries, increased backing on schooling and health care, not to mention, significant decrease in poverty. His attempts were substantially understood when the UN index revealed that the standard of living in Venezuela has significantly improved, and that poverty rate has significantly reduced from 48.6% in 2002, then to 29.5% as of 2011.
Hugo Chavez is considered to be affiliated with a few renowned communist leaders. In reality, Hugo was seen allying with Cuba’s Ral Castro and Fidel, Bolivia’s Evo Morales, Nicaragua’s Nicaragua and obviously, Rafael Correa of Ecuador.
In June 2011, Hugo was reported to be recovering from a surgical operation which includes the removal of some abscessed tumour with cancerous cells. I December 2012, he needed to undergo a second surgery. On January 10, 2013, Hugo was assumed to sworn on but was postponed by the National Assembly of Venezuelato give him more time to recuperate. Nevertheless, at age 58, Hugo died in Caracas on March 5, 2013.