Ricardo Martinelli facts for kids

Quick facts for kids Ricardo Martinelli
Martinelli in 2013
36th President of Panama
In office 1 July 2009 – 1 July 2014
Vice President	Juan Carlos Varela
Preceded by	Martín Torrijos
Succeeded by	Juan Carlos Varela
Personal details
Born	Ricardo Alberto Martinelli Berrocal (1951-03-11) 11 March 1951 (age 74) Panama City, Panama
Political party	Democratic Change (until 2020) Realizing Goals (2021–present)
Spouse	Marta Linares (1978–present)
Alma mater	University of Arkansas (BSBA)
Religion	Roman Catholicism

Ricardo Alberto Martinelli Berrocal (born on March 11, 1951) is a Panamanian politician and businessman. He served as the 36th President of Panama from 2009 to 2014.

During his time as president, he faced investigations related to how public money was used. He was also involved in other cases concerning government funds.

Early Life

Ricardo Martinelli was born in Panama City, Panama. His parents were Ricardo Martinelli Pardini and Gloria Berrocal Fábrega. His family has roots in Italy and Spain.

He went to high school at Staunton Military Academy in Staunton, United States. In 1973, he earned a degree in business administration from the University of Arkansas.

Business Ventures

Martinelli started his career working at Citibank in Panama. After some years in banking, he decided to become an entrepreneur. He bought a client's business and then started or bought other companies.

Reports suggest his wealth was over $1.1 billion. Many voters hoped he would manage the country as well as he managed his businesses.

By 2009, he was the president of Super 99, a large supermarket chain in Panama. He also led two other companies. In May 2009, he passed the leadership of Super 99 to Luis Enrique Martinelli.

Political Journey

Before becoming president, Martinelli held several government roles. From 1994 to 1996, he was the Director of Social security. Later, from 1999 to 2003, he chaired the board of the Panama Canal. He also served as the Minister for Canal Affairs.

Martinelli became the president of the Democratic Change party, which started in 1998. He ran for president in the 2004 election. His party finished last, and he received 5.3% of the votes.

In the 2009 election, Martinelli ran for president again. He promised to improve the economy, reduce corruption, and lower crime rates. He spent about $35 million on his campaign.

He had strong support from a group of parties called the Alliance for Change. This group included his own Democratic Change party, the Panameñista Party, and others.

His main opponent was Balbina Herrera. Martinelli also received strong support from the business community.

On May 3, 2009, Martinelli won the election by a large margin. He received over 60% of the votes. This was thanks to his alliance with Juan Carlos Varela, who became his vice president. Martinelli was sworn in as president on July 1, 2009.

Time as President

Martinelli served as president from 2009 to 2014. During his presidency, Panama's economy grew very quickly. In 2012, The Economist reported that Panama's citizens were richer than most people in Latin America.

The following year, The New York Times noted that Panama was "booming." Its economy had grown by an average of 9 percent over five years. This was the highest growth in Latin America.

This economic success helped many people in Panama. Unemployment dropped from 6.6% to 4.1%. The gap between the richest and poorest people also became smaller. The income of the poorest 10% was 35 times lower than the richest 10%, down from 60 times lower.

Martinelli introduced programs to help reduce poverty. These included a monthly pension for older people and an increase in the minimum wage. He also provided money for students to buy uniforms and school supplies. Panama's minimum wage became the highest in Latin America.

He also started projects to help Colón, a city on the coast. These projects included a new highway connecting Panama City and Colón. There was also an expansion of the Panama Canal and a new hospital. These public works aimed to reduce joblessness and poverty.

Awards and Recognition

On February 20, 2010, the University of Arkansas created a scholarship in Ricardo Martinelli's name. This scholarship helps students from Panama attend the university. He also received an award for distinguished alumni. The Governor of Arkansas made him an official ambassador for the state.

On June 16, 2013, Martinelli was recognized by the FAO in Rome, Italy. He received an award for helping to reduce child malnutrition in Panama. This happened during the 38th Session of the Food and Agriculture Organization of the United Nations Conference.

•  France:
  • Grand Cross of the National Order of the Legion of Honour (July 14, 2013)
•  Haiti:
  • Grand Cross of the National Order of Honour and Merit (February 18, 2014)
•  Peru:
  • Grand Collar of the Order of the Sun of Peru (August 26, 2010)
•  Portugal:
  • Grand Collar of the Order of Prince Henry, Portugal (July 29, 2013)
• Royal House of Bourbon-Two Sicilies:
  • Knight Grand Cross, Special Class of the Sacred Military Constantinian Order of Saint George (July 28, 2012)
•  Taiwan:
  • Grand Cordon of the Order of Brilliant Jade (November 1, 2010)

Family Life

In 1978, Ricardo Martinelli married Marta Linares. They have three children: Ricardo Alberto, Luis Enrique, and Carolina. His sons, Ricardo and Luis Enrique, faced accusations of receiving money from a Brazilian company involved in a large corruption case. This money was reportedly hidden in bank accounts in Switzerland.

See also

In Spanish: Ricardo Martinelli para niños