Carlos Menem Net Worth

Election as President

Elected President of Argentina during a severe economic crisis. His Peronist background and charismatic style resonated with voters seeking change.

Convertibility Plan Implementation

Implemented the Convertibility Plan, pegging the peso to the US dollar and privatizing state enterprises. These neoliberal reforms initially stabilized the economy and increased his popularity.

Re-election Victory

Won re-election with a strong mandate, becoming the first Argentine president to be re-elected since 1928. His economic policies were credited with reducing hyperinflation.

Corruption Scandals Emerge

Multiple corruption allegations surfaced, including illegal arms sales and bribery. These scandals began to tarnish his reputation and legacy.

End of Presidency

Left office as Argentina's economic situation deteriorated. His successor inherited growing economic problems that would lead to the 2001 crisis.

Economic Collapse Aftermath

Argentina's economy collapsed, and many blamed Menem's policies for setting the stage for the crisis. His political reputation suffered significantly.

Corruption Convictions

Convicted of corruption in the illegal arms sales case, though he avoided prison due to his age and Senate immunity. His legacy became increasingly controversial.

Controversial Legacy Remembered

Five years after his death in 2021, Menem remains a divisive figure in Argentine history. Some credit his economic reforms with modernizing Argentina, while others blame him for corruption and the policies that led to economic collapse.