Manuel Prado Ugarteche Net Worth

Background and career

Manuel Carlos Prado y Ugarteche (21 April 1889 – 15 August 1967) was a Peruvian politician and banker who served twice as president of Peru, in 1939–1945 and 1956–1962. Son of former President Mariano Ignacio Prado, his brother, Leoncio Prado Gutiérrez, was a soldier who died in 1883, six years before Manuel Prado was born.

Prado was born in Lima in 1889 as the son of Mariano Ignacio Prado. He went to college and became a banker. In 1914, Prado, along with General Benavides, overthrew Guillermo Billinghurst and his government during the First World War, in which Peru remained neutral. Benavides became the president of the Junta. Later imprisoned, Prado was deported to Chile and went into exile in France. He returned in 1932, and upon his return he was chairman of the board of the Peruvian Vapores Company and general manager and president of the Central Reserve Bank of Peru, which he served from 1934 to 1939. He ran and won the 1939 elections. Under his first administration, Peru came out victorious against Ecuador in the Ecuadorian-Peruvian War, and also became the first country in South America to break relations with the Axis, as Peru declared war on the Axis. After the end of his administration in 1945, he went to Paris, and eventually came back. He defeated Belaunde in the elections in 1956, as his second administration came to power. He sided with the United States in the Cold War, but was deposed in a coup, led by Ricardo Perez Godoy in 1962. He went into exile for one last time to Paris, where he died in 1967.