Chavez

Hugo Chavez died this week. He was one more example in a long line of socialist who came to power with the populist idea of redistribution of the wealth. He nationalized all the big companies, primarily oil companies, and spread the money around among the poor Chavez won the lower classes' support by redistributing the nation's vast oil wealth through welfare programs called missions, which set up medical clinics and schools, operated a chain of cut-rate grocery stores, and divvied up nationalized farms and ranches among cooperatives of the impoverished. In the process of playing Robin Hood he did OK for himself Hugo Chavez net worth: Hugo Chavez was a Venezuelan politician who had a net worth of $1 billion at the time of his death on March 5th 2013. A 2010 report from Criminal Justice International Associates (CJIA), a global risk assessment and threat mitigation firm estimated that the Chavez family assets totaled between $1 and $2 billion USD Since the government took control of the oil companies production has declined by 25%. This was more than offset as the price of oil increased from $10 per barrel to $90. Many of the managers and engineers were replaced by inexperienced government employees, friends of Hugo, and things like preventive maintenance were left languishing.