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Raul Castro Ruz Net Worth

By Jacob , in General , at June 19, 2024

As Fidel Castro’s closest confidante, Raul Castro held multiple positions of authority. He led Cuba’s armed forces as well as serving on Cuba’s council of state and council of ministers.

Although Castro denounces personal wealth in his socialist regime, many believe he is worth millions of dollars as of 2024. Here we discuss an estimate of his estimated net worth.

Early Life and Education

Raul Modesto Castro Ruz was born June 3rd 1931 in Biran, Cuba to a Spanish immigrant father who raised four siblings alongside himself.

As youths, the Castro brothers joined a socialist youth group and participated in protests. Later they would be arrested and imprisoned for their participation in an unsuccessful 1953 attack against Moncada Barracks to unseat dictator Fulgencio Batista.

Raul then assumed command of Cuba’s armed forces as well as serving as head of both its Council of Ministers and Communist Party of Cuba. Additionally, he established close ties with Soviet Russia to purchase weapons for Cuba and was an outspoken critic of US policies against it.

Professional Career

Before Raul took power, his presence in Cuba was minimal. Though he followed Fidel’s academic career path to Havana University Law School, Raul gravitated more toward communist organizations such as Popular Socialist Party (PSP) and its Youth Wing Socialist Youth (JS).

After Raul took control after Fidel’s health issues forced him out, he quickly emerged as a key figure in Cuba. He quickly earned the loyalty of high-ranking military officers known as raulistas and established close ties with Soviet Russia to obtain weapons for Cuba’s army.

At the same time, he demonstrated less commitment to rigid Marxism than his brother and was more open to economic reforms such as decentralizing power and permitting Cuba’s military to experiment with private enterprise in some state-owned enterprises – thus setting the stage for slow but steady economic recovery after Soviet subsidies had dried up.

Achievement and Honors

Raul oversaw various economic reforms that opened Cuba up to private enterprise and foreign investment. Travel restrictions were relaxed and cell phones made easier; moreover, Raul encouraged people to buy and sell homes.

He adopted a more collaborative leadership style, inviting debate and including critics in major policy decisions. Additionally, he dismantled or at least cracked ideological barriers that had blocked progress, such as his predecessor’s rejection of globalization and hostility towards foreign investments.

He preferred more experienced leaders over younger, untested ones who often faltered or failed. Miguel Diaz-Canel was an outstanding example; he has an impeccable track record as both provincial and national leader with decades of experience under his belt, along with being known for being trustworthy and sincere.

Personal Life

As Fidel stepped back from politics after the revolution, Raul assumed more leadership positions within Cuba – including defense minister and president of the Council of State. Additionally, Raul provided vital advice during key events such as Bay of Pigs invasion and Cuban Missile Crisis.

In the early 1990s, reports surfaced of his estimated wealth being close to $900 Million; this claim was then denounced on national TV as “repugnant slander by a capitalist magazine”.

Castro as president made headlines for welcoming Pope Francis to Cuba in 2015 and shaking hands with President Obama to signal a change in US-Cuba relations. Additionally, he oversaw the lifting of travel and investment restrictions on Cuba as well as hiding millions of dollars overseas bank accounts.

Net Worth

Castro is widely recognized for breaking through ideological obstacles to advance key economic reforms, particularly within agricultural markets and transform relations with the US.

Raul played an instrumental role in Fidel’s 26th of July Movement’s attack on Moncada barracks in 1953, as his right-hand man. Later, during 1956’s Granma landings he was one of only a few remaining survivors, eventually being given several increasingly larger commands until finally taking command of Eastern Front in 1958.

Forbes estimates that while the Castro brothers remain notoriously secretive about their wealth, they control an estimated net worth of approximately $500 million and possess several hundred millions in private bank accounts across the globe.

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