Ricardo Martinelli

Ricardo Alberto Martinelli Berrocal (born March 11, 1951) is a Panamanian politician and businessman who was the 36th president of Panama from 2009 to 2014. Early life Born in Panama City, Ricardo Martinelli is the son of Ricardo Martinelli Pardini and Gloria Berrocal Fábrega. His father is of Italian descent, and his mother is of Spanish descent. He completed his secondary education at Staunton Military Academy in Staunton, Virginia, in the United States. In 1973 he graduated with a bachelor of science in business administration degree from the University of Arkansas where he was a member of Sigma Nu fraternity. Business career Martinelli began his career as a credit officer at Citibank in Panama. After several years of banking, he purchased the business of a client, in turn becoming an entrepreneur, buying or starting additional businesses. His net worth was estimated at $1.1 billion or more, according to press reports. The Economist stated that voters "want him to run the country as well as he manages his businesses" in response to his victory in the 2009 presidential election. As of 2009, he was the president and director of the board of Panamanian supermarket chain, Super 99 and of two other companies. From May 2009, he passed the presidency of Super 99 to Luis Enrique Martinelli.