How do you amass a fortune of approximately $550 million in an impoverished communist nation in the Caribbean?
Meanwhile, the rest of Cuba is so poor that food is rationed. But at least Cubans aren't being exploited by wealthy capitalists.
Link.Cuba's socialist dictator-for-life derives his fortune from a web of state-owned businesses. Among his profit-generating operations: El Palacio de Convenciones, a convention center near Havana; retail conglomerate CIMEX; and Medicuba, which sells vaccines and other pharmaceuticals produced in Cuba. Castro has ruled the impoverished nation of 11 million since his revolutionary army ousted Fulgencio Batista in 1959. Travels exclusively in a convoy of black Mercedes-Benzes. Sold state-owned Havana Club rum to French liquor giant Pernod Ricard for $50 million in 1993. At age 78, Castro continues to rage against the U.S. Last year he banned the use of American dollars as currency in Cuba and imposed a 10% exchange fee for tourists.
Meanwhile, the rest of Cuba is so poor that food is rationed. But at least Cubans aren't being exploited by wealthy capitalists.