Ricardo Martinelli’s profile picture

Ricardo Martinelli

Former President of Panama
Ricardo Martinelli’s profile picture
Net worth 2018: $1.1 Billion
Industry: Retailers
Residence: Panama City
Country: Panamanian
BirthDay: 11 March 1952
Sigh: Aries
Education: University of Arkansas, INCAE Business School, Staunton Military Academy
BIOGRAPHY

Ricardo Martinelli was bornon 11 March 1952 in Panama City, Panamanian, is Former President of Panama. Ricardo Martinelli is a Panamanian politician who served as the 49th President of the country. His conservative style is said to have been derived from his business background. He is the president and director of the board of Super99, a supermarket chain. As president of Panama, he cemented relations with the United States, which were already strong due to the country's strategic location (surrounding the Panama Canal physically). The Canal was under US control until its handover to Panama, which began in the last quarter of the twentieth century and concluded just before the twenty-first, with the Panama Canal Authority management completely in Panamanian hands. He leads the party currently, which is a powerful position as it is one of Panama's two largest parties. Martinelli came under fire during his presidency for allegedly using authoritarian tactics and corruption, yet his influence on reform measures provided tax laws which greatly simplified filing and collection and alleviation of poverty by subsidizing student expenses as well as raising the minimum wage

NET WORTH STATISTIC
2018

$1.1 Billion

TIMELINE
2014

After Martinelli's tenure came to an end in 2014, Panama's Supreme Court ordered to investigate him over corruption

2012

In 2012, he finalized the Panama–United States Trade Promotion Agreement which had awaited implementation for years

2011

The year 2011 saw the extradition of former military ruler Manuel Noriega from France to Panama

2010

From 2010 to 2014, he oversaw the Panama Canal's expansion program to make it accommodate supertankers and the largest container ships

2009

In the year 2009, the US Ambassador to Panama complained to the U

1998

In 1998, the Democratic Change Party was founded and he was its presidential candidate for 2004, in which he received 5

1994

He served as Director of Social Security in Panama 1994-96, and as chairman of the board of directors of the Panama Canal and as Minister for Canal Affairs 1999-2003

1981

From his management of Super 99 stores in 1981, he brought new departments -vehicles, machinery, and groceries

1978

Martinelli married Marta Linares in 1978, and they have three children, Ricardo, Luis, and Carolina

1914

The Panama Canal needed upgrading to twenty-first century standards, after its opening on August 15, 1914 and Martinelli pressed for the Canal's modernization, which remains a monument to American achievement

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