Sebastián Piñera Wins Presidential Election in Chile

Returning billionaire’s pledge to reinvigorate the economy resonates with voters.

Billionaire former President Sebastián Piñera cruised to victory in Chile’s presidential election runoff Sunday as his promise to reinvigorate the country’s flagging economy resonated with voters after four years of subpar growth.

With more than 99% of ballots counted, Mr. Piñera had 54.6% of votes to the 45.4% of his rival, center-left television journalist Alejandro Guillier, who conceded defeat and promised to form a “constructive” opposition. In a televised phone call, current President Michelle Bachelet, who had strongly backed Mr. Guillier during the campaign, congratulated Mr. Piñera on his win and, in accordance with a Chilean tradition, accepted an invitation to breakfast at the president-elect’s home on Monday morning.

“I am going to propose to all the political forces and to all my countrymen great agreements to confront and solve the big problems that Chileans face,” the president-elect said. “Together we will transform Chile into a developed country, a Chile without poverty, a Chile with opportunities for all.”

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