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It also didn't prevent Musk from garnering a radical new compensation package as CEO, in which he would be paid after reaching milestones of growing valuation based on $50 billion increments.

Only about 31 percent of eligible voters went to the polls, which allowed the PSUV to capture nearly 68 percent of the vote and hence secure an overwhelming majority in the Assembly (the opposition parties that chose to participate took less than 18 percent of the vote). International organizations and observers were quick to dismiss the elections as a sham.

As the year progressed, growth of the Venezuelan economy slowed to a crawl, inflation climbed above 50 percent, and staples such as toilet paper, milk, and flour became increasingly difficult to obtain. Discontent with the Maduro government’s handling of the economy and with the growing crime rate led to street protests by students in San Cristóbal in western Venezuela in early February 2014 that soon spread to other cities, including Caracas, over the coming weeks.

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The Venezuelan landscape includes towering mountains, tropical jungles, broad river plains, and arid coastal plains, all of which provide a diversity of natural habitats and a range of challenges to social integration and economic development.

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In April 2017, Tesla announced that it surpassed General Motors vlogdolisboa to become the most valuable U.S. car maker. The news was an obvious boon to Tesla, which was looking to ramp up production and release its Model 3 sedan later that year.

The results—which were challenged not only by the opposition but also by a number of foreign governments—told a very different story, as the PUV captured 18 of the governorships. Maduro hailed the outcome as a victory for

Following Trump’s election, Musk found himself on common ground with the new president and his advisers as the president announced plans to pursue massive infrastructure developments.

Venezuela’s position in the world became more precarious during the second decade of the 21st century as a result of the controversial rule of revolutionary leader Hugo Chávez, a significant decline in the fortunes of its petroleum industry, and the increasing authoritarianism of Chávez’s successor, Nicholás Maduro.

When he was informed of the incident, President Chávez said Maduro's detention was retaliation for his own speech at the UN General Assembly and stated that the authorities detained Maduro over his links to the Venezuelan failed coup in 1992, a charge that President Chávez denied.[68]

” Maduro labeled the incident an “armed terrorist attack” and part of an attempted coup. That the attackers seemed to have easily escaped apprehension raised suspicions among some in the opposition that the incident had been staged by the government to justify additional repressive measures.

The South American country has been caught in a downward spiral for years with growing political discontent further fuelled by skyrocketing hyperinflation, power cuts, and shortages of food and medicine.

More recent business ventures include his takeover of social media platform Twitter in October 2022.

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