Fidel Castro’s Net Worth: $900 Million
Fidel Alejandro Castro Ruz was born in Birán, Holguin Province, Cuba on August 13, 1926, into a wealthy farming family. He is known worldwide for serving as the Prime Minister of Cuba from 1959 to 1976, and as President from 1976 to 2008.
Castro’s estimated net worth is $900 million, largely accumulated during his career as a Cuban politician, making him one of the wealthiest individuals in Cuba.
Fidel Castro’s Net Worth: $900 Million
Fidel Castro’s father, Angeles Castro, owned a sugar cane plantation, while his mother, Lina Eng Gonzales, worked as a cook. In 1945, Fidel registered in the Faculty of Law at the University of Havana. During his studies, he became involved in the revolutionary movement. Castro participated in an unsuccessful attempt to overthrow Dictator Rafael Trujillo in 1947. Despite this, he graduated in 1950 with a doctorate in law and joined the Communist Party of Cuba the same year.
Castro organized the struggle against the dictatorship and led the revolution in Santiago de Cuba, resulting in a 15-year prison sentence, which was reduced to a year. He then went to Mexico, where he founded the July 26th movement with the goal of overthrowing the Cuban dictatorship.
In 1959, with the growing number of partisans, Castro successfully fought against the demoralized, poorly led army of President Batista. He became the commander of the army and the Prime Minister of Cuba the same year. His leadership saw a steady rise in his net worth.
In 1959, Castro announced Cuba to be a socialist republic, with private businesses and industries being nationalized. Being the only communist country in America, Cuba signed trade agreements with the Soviet Union. This immediately made Cuba a Cold War confrontation subject between the Soviet Union and the United States.
Despite the upheavals, Fidel Castro remained as prime minister until 1976, when the new constitution was created by the National Assembly, and he became the State Council chairman. He also retained command of the army and the Cuban Communist Party General Secretary posts, which contributed to the increase in his net worth. In 2006, due to Fidel Castro’s deteriorating health, his brother Raul Castro took over the position of President, and in 2008, Fidel announced that he would not accept another presidential term.
According to Forbes magazine, Fidel Castro became the richest person in Cuba, as he had control over almost all sectors of the economy, leading to a rise in his net worth. Fidel Castro has been married twice and has nine children.
