Fidel Castro is a well known Cuban politician and former political leader. At a young age, he was able to overthrow the United States backed president Fulgencio Batista. He assumed military and political power in 1959 and ruled till 2008 when he handed over power to his brother Raul Castro. Let’s find out how much is Fidel Castro’s net worth in 2019.
Castro was born on 13 August 1926 Eastern Cuba. His father, Angel Castro married his mother, Lina Ruz when Fidel was 15 years. However, his father recognized him when he was 17 years old. Angel Castro, originally from Spain, was a wealthy man who owned large sugar plantations and did business with the American owned- United Fruit Company.
Castro attended private boarding schools in Cuba. He joined Colegio Dolores in Santiago de Cuba before joining El Colegio de Belen in Havana. While in college he played basketball, baseball, and ran track. After graduation in 1945, Castro proceeded to the University of Havana to study law.
Castro married Mirta Diaz Balart who was from a wealthy political family. Their only child, Fidel was born in 1949.
Castro started his political career while studying law at the University of Havana in 1947. He was against right-wing governments in Colombia and the Dominican Republic. He, therefore, took anti-imperialist politics.
His passion for social justice made him travel to the Dominican Republic to join an expedition to overthrow Rafael Trujillo, the country’s dictator. The coup failed, but it never dampened his spirit for reforms. The following year, 1948, he traveled to Bogota, Colombia and participated in the anti-government rioting there.
Castro was a member of Partido Ortodoxo, an anti-communist political party whose founder was Eduardo Chibas. Castro developed an interest in Karl Marx’s work. He focused his intentions on running for a seat in the Cuban Congress. However, General Fulgencio Batista toppled the government. Castro had no legitimate political platform.
Castro and members of the Partido Ortodoxo formed “The Movement.” On 26 July 1953, Castro with his supporters unsuccessfully attacked military barracks near Santiago de Cuba. He was captured after the coup to overthrow Batista failed. After the trial, he was convicted and sentenced to 15 years in jail.
In 1955 Castro and his compatriots including his brother Raul, were released under an amnesty by Batista government. He renamed his group the “26th of July movement”. The group traveled to Mexico and continued with their revolution plan.
In 1956 Castro returned to Cuba. He was able to organize resistance groups across most parts of Cuba. Castro also formed a parallel government and took over control in areas with agricultural and manufacturing production. In 1959 he successfully ousted Batista and assumed military and political power. He was appointed the commander in chief of the armed forces. In the same year (1959) he was appointed prime minister after Miro resigned.
President Batista had a friendly relation with the United States, but Castro leaned towards the Soviet Union. In 1961 Castro, implemented socialist reforms in all areas of society. Cuba became a one-party state under communist rule. He nationalized businesses and Cuba’s industry, further straining relations between Washington and Havana.
Castro founded the Organization for solidarity with the peoples of Africa, Asia, and Latin America in 1966. He also started promoting himself as a spokesman for Third World Countries. Due to health problems he temporarily gave power to his brother, Raul, in 2006 who was confirmed two year later as the president of Cuba.
Awards & Achievements
Despite his controversial rule, he won many honors. In 1963, he received the hero of the soviets award. The Soviet Union gave the award in recognition of heroic deeds. In1971 and 1975 he received the jubilee medal in commemoration of 30 and 50years of victory in the great patriotic war.
In 1972, Castro received The Star Friendship Award for his contribution to the preservation of peace. He won the Gold Star Order award from the government of Vietnam for his participation in the revolutionary movement
Net worth of Fidel Castro
Castro’s net worth is estimated to be over $1 billion. However, it is tough to obtain all the information on Castro’s worth. Most enterprises he owns are not known. There is speculation that Fidel Castro owns real estates both in Cuba and overseas, including Havin bank in the UK and many corporations.
Castro is considered one of the world’s great leaders who were able to resist Cuba’s invasion from the west and the United States. He survived many assassination attempts which were believed to be carried out by the United States. During hard economic times, Castro legalized the use of US dollar and promoted tourism.