No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Tuesday, January 27, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Nicolas Maduro rose from bus driver to president before presiding over Venezuela’s economic collapse

by TheAdviserMagazine
3 weeks ago
in Business
Reading Time: 5 mins read
A A
Nicolas Maduro rose from bus driver to president before presiding over Venezuela’s economic collapse
Share on FacebookShare on TwitterShare on LInkedIn



U.S. President Donald Trump, in an early morning social media post, announced Maduro’s capture. Venezuela’s vice president, Delcy Rodríguez, later announced that the whereabouts of Maduro and his wife, Cilia Flores, remained unknown. Trump’s attorney general, Pam Bondi, said Maduro and Flores, would face charges after an indictment in New York.

Maduro’s fall was the culmination of months of stepped-up U.S. pressure on various fronts.

He had spent the last months of his presidency fueling speculation over the intentions of the U.S. government to attack and invade Venezuela with the goal of ending the self-proclaimed socialist revolution that his late mentor and predecessor, Hugo Chávez, ushered in 1999. Maduro, like Chávez, cast the United States as Venezuela’s biggest threat, railing against Democratic and Republic administrations for any efforts to restore democratic norms.

Maduro’s political career began 40 years ago. In 1986, he traveled to Cuba to receive a year of ideological instruction, his only formal education after high school. Upon his return, he worked as a bus driver for the Caracas subway system, where he quickly became a union leader. Venezuela’s intelligence agencies in the 1990s identified him as a leftist radical with close ties to the Cuban government.

Maduro eventually left his driver job and joined the political movement that Chávez organized after receiving a presidential pardon in 1994 for leading a failed and bloody military coup years earlier. After Chávez took office, the former youth baseball player rose through the ranks of the ruling party, spending his first six years as a lawmaker before becoming president of the National Assembly. He then served six years as foreign minister and a couple months as vice president.

Appointed the political heir to Chávez

Chávez used his last address to the nation before his death in 2013 to anoint Maduro as his successor, asking his supporters to vote for the then-foreign affairs minister should he die. The choice stunned supporters and detractors alike. But Chávez’s enormous electoral capital delivered Maduro a razor-thin victory that year, giving him his first six-year term, though he would never enjoy the devotion that voters professed for Chávez.

Maduro married Flores, his partner of nearly two decades, in July 2013, shortly after he became president. He called her the “first combatant,” instead of first lady, and considered her a crucial adviser.

Maduro’s entire presidency was marked by a complex social, political and economic crisis that pushed millions into poverty, drove more than 7.7 million Venezuelans to migrate and put thousands of real or perceived government opponents in prison, where many were tortured, some at his direction. Maduro complemented the repressive apparatus by purging institutions of anyone who dared dissent.

Venezuela’s crisis took hold during Maduro’s first year in office. The political opposition, including the now-Nobel Peace Prize winner María Corina Machado, called for street protests in Caracas and other cities. The demonstrations evidenced Maduro’s iron fist as security forces pushed back protests, which ended with 43 deaths and dozens of arrests.

Maduro’s United Socialist Party of Venezuela would go on to lose control of the National Assembly for the first time in 16 years in the 2015 election. Maduro moved to neutralize the opposition-controlled legislature by establishing a pro-government Constituent Assembly in 2017, leading to months of protests violently suppressed by security forces and the military.

More than 100 people were killed and thousands were injured in the demonstrations. Hundreds were arrested, causing the International Criminal Court to open an investigation against Maduro and members of his government for crimes against humanity. The investigation was still ongoing in 2025.

In 2018, Maduro survived an assassination attempt when drones rigged with explosives detonated near him as he delivered a speech during a nationally televised military parade.

Bedeviled by economic problems

Maduro was unable to stop the economic free fall. Inflation and severe shortages of food and medicines affected Venezuelans nationwide. Entire families starved and began migrating on foot to neighboring countries. Those who remained lined up for hours to buy rice, beans and other basics. Some fought on the streets over flour.

Ruling party loyalists moved the December 2018 presidential election to May and blocked opposition parties from the ballot. Some opposition politicians were imprisoned; others fled into exile. Maduro ran virtually unopposed and was declared winner, but dozens of countries did not recognize him.

Months after the election, he drew the fury after social media videos showed him feasting on a steak prepared by a celebrity chef at a restaurant in Turkey while millions in his country were going hungry.

Under Maduro’s watch, Venezuela’s economy shrank 71% between 2012 and 2020, while inflation topped 130,000%. Its oil production, the beating heart of the country, dropped to less than 400,000 barrels a day, a figure once unthinkable.

The first Trump administration imposed economic sanctions against Maduro, his allies and state-owned companies to try to force a government change. The measures included freezing all Venezuelan government assets in the U.S. and prohibiting American citizens and international partners from doing business with Venezuelan government entities, including the state-owned oil company.

Out of options, Maduro began implementing a series of economic measures in 2021 that eventually ended Venezuela’s hyperinflation cycle. He paired the economic changes with concessions to the U.S.-backed political opposition with which it restarted negotiations for what many had hoped would be a free and democratic presidential election in 2024.

Maduro used the negotiations to gain concessions from the U.S. government, including the pardon and prison release of one of his closest allies and the sanctions license that allowed oil giant Chevron to restart pumping and exporting Venezuelan oil. The license became his government’s financial lifeline.

Losing support in many places

Negotiations led by Norwegian diplomats did not solve key political differences between the ruling party and the opposition.

In 2023, the government banned Machado, Maduro’s strongest opponent, from running for office. In early 2024, it intensified its repressive efforts, detaining opposition leaders and human rights defenders. The government also forced key members of Machado’s campaign to seek asylum at a diplomatic compound in Caracas, where they remained for more than a year to avoid arrest.

Hours after polls closed in the 2024 election, the National Electoral Council declared Maduro the winner. But unlike previous elections, it did not provide detailed vote counts. The opposition, however, collected and published tally sheets from more than 80% of electronic voting machines used in the election. The records showed Edmundo González defeated Maduro by a more than 2-to-1 margin.

Protests erupted. Some demonstrators toppled statues of Chávez. The government again responded with full force and detained more than 2,000 people World leaders rejected the official results, but the National Assembly sworn in Maduro for a third term in January 2025.

Trump’s return to the White House that same month proved to be a sobering moment for Maduro. Trump quickly pushed Maduro to accept regular deportation flights for the first time in years. By the summer, Trump had built up a military force in the Caribbean that put Venezuela’s government on high alert and started taking steps to address what it called narco-terrorism.

For Maduro, that was the beginning of the end.



Source link

Tags: buscollapsedrivereconomicMaduroNicolaspresidentpresidingroseVenezuelas
ShareTweetShare
Previous Post

If you’re serious about a fresh start in 2026, these 8 things need to go immediately

Next Post

Buffett backs new CEO Abel with ‘huge endorsement’ in CNBC interview

Related Posts

edit post
Trump warns Canada is being taken by China, says 100% tariffs are coming if they become a ‘drop off port.’ Do this now

Trump warns Canada is being taken by China, says 100% tariffs are coming if they become a ‘drop off port.’ Do this now

by TheAdviserMagazine
January 27, 2026
0

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. U.S. President Donald Trump...

edit post
Shekel nears 30-year strongest against US dollar

Shekel nears 30-year strongest against US dollar

by TheAdviserMagazine
January 27, 2026
0

The shekel continues to strengthen against the US dollar. Expectations of an improvement in the geopolitical situation, along with...

edit post
Instagram, TikTok, YouTube finally face day in court over whether they peddle addictive products to kids

Instagram, TikTok, YouTube finally face day in court over whether they peddle addictive products to kids

by TheAdviserMagazine
January 27, 2026
0

Three of the world’s biggest tech companies face a landmark trial in Los Angeles starting this week over claims that...

edit post
FTAI Aviation price target raised to 0 from 0 at RBC Capital

FTAI Aviation price target raised to $350 from $270 at RBC Capital

by TheAdviserMagazine
January 27, 2026
0

RBC Capital raised the firm’s price target on FTAI Aviation (FTAI) to $350 from $270 and keeps an Outperform rating...

edit post
Israeli cybersecurity co Memcyco raises m

Israeli cybersecurity co Memcyco raises $37m

by TheAdviserMagazine
January 27, 2026
0

Israeli cybersecurity company Memcyco has announced the completion of a $37 million Series A financing round. This brings to...

edit post
Pfizer’s CEO on leading after a moonshot—and making deals with Trump

Pfizer’s CEO on leading after a moonshot—and making deals with Trump

by TheAdviserMagazine
January 27, 2026
0

Good morning. What happens to an organization after it achieves a moonshot? That has been Albert Bourla’s reality, post-COVID. As...

Next Post
edit post
Buffett backs new CEO Abel with ‘huge endorsement’ in CNBC interview

Buffett backs new CEO Abel with 'huge endorsement' in CNBC interview

edit post
Federal Reserve, Powell face challenges in 2026

Federal Reserve, Powell face challenges in 2026

  • Trending
  • Comments
  • Latest
edit post
Most People Buy Mansions But This Virginia Lottery Winner Took the Lump Sum From a 8 Million Jackpot and Bought a Zero-Turn Lawn Mower Instead

Most People Buy Mansions But This Virginia Lottery Winner Took the Lump Sum From a $348 Million Jackpot and Bought a Zero-Turn Lawn Mower Instead

January 10, 2026
edit post
Utility Shutoff Policies Are Changing in Several Midwestern States

Utility Shutoff Policies Are Changing in Several Midwestern States

January 9, 2026
edit post
80-year-old Home Depot rival shuts down location, no bankruptcy

80-year-old Home Depot rival shuts down location, no bankruptcy

January 4, 2026
edit post
Tennessee theater professor reinstated, with 0,000 settlement, after losing his job over a Charlie Kirk-related social media post

Tennessee theater professor reinstated, with $500,000 settlement, after losing his job over a Charlie Kirk-related social media post

January 8, 2026
edit post
Elon Musk Left DOGE… But He Hasn’t Left Washington

Elon Musk Left DOGE… But He Hasn’t Left Washington

January 2, 2026
edit post
Former Carson Group marketing executive drops lawsuit

Former Carson Group marketing executive drops lawsuit

December 29, 2025
edit post
Shekel nears 30-year strongest against US dollar

Shekel nears 30-year strongest against US dollar

0
edit post
Investors Still Face Plenty of Financial Risks This Year—Here’s What You Should Watch Out For

Investors Still Face Plenty of Financial Risks This Year—Here’s What You Should Watch Out For

0
edit post
ClimateRight by Cuddl Duds Women’s Top and Leggings Set only , plus more!

ClimateRight by Cuddl Duds Women’s Top and Leggings Set only $10, plus more!

0
edit post
If you’ve ever been called “too quiet” or “too sensitive,” you likely have these 8 hidden strengths

If you’ve ever been called “too quiet” or “too sensitive,” you likely have these 8 hidden strengths

0
edit post
The New Services Pricing Paradigm 

The New Services Pricing Paradigm 

0
edit post
Vanguard: 1 in 3 retirees faces an RMD tax penalty

Vanguard: 1 in 3 retirees faces an RMD tax penalty

0
edit post
If you’ve ever been called “too quiet” or “too sensitive,” you likely have these 8 hidden strengths

If you’ve ever been called “too quiet” or “too sensitive,” you likely have these 8 hidden strengths

January 27, 2026
edit post
ClimateRight by Cuddl Duds Women’s Top and Leggings Set only , plus more!

ClimateRight by Cuddl Duds Women’s Top and Leggings Set only $10, plus more!

January 27, 2026
edit post
Trump warns Canada is being taken by China, says 100% tariffs are coming if they become a ‘drop off port.’ Do this now

Trump warns Canada is being taken by China, says 100% tariffs are coming if they become a ‘drop off port.’ Do this now

January 27, 2026
edit post
The New Services Pricing Paradigm 

The New Services Pricing Paradigm 

January 27, 2026
edit post
Shekel nears 30-year strongest against US dollar

Shekel nears 30-year strongest against US dollar

January 27, 2026
edit post
Vanguard: 1 in 3 retirees faces an RMD tax penalty

Vanguard: 1 in 3 retirees faces an RMD tax penalty

January 27, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • If you’ve ever been called “too quiet” or “too sensitive,” you likely have these 8 hidden strengths
  • ClimateRight by Cuddl Duds Women’s Top and Leggings Set only $10, plus more!
  • Trump warns Canada is being taken by China, says 100% tariffs are coming if they become a ‘drop off port.’ Do this now
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.