And even as the poor saw their incomes rise, those gains were blunted while the country's currency weakened amid economic controls.
Nonetheless, Chavez maintained a core of supporters who stayed loyal to their "comandante" until the end.
"Chavez masterfully exploits the disenchantment of people who feel excluded ... and he feeds on controversy whenever he can," Cristina Marcano and Alberto Barrera Tyszka wrote in their book "Hugo Chavez: The Definitive Biography of Venezuela's Controversial President."
Hugo Rafael Chavez Frias was born on July 28, 1954, in the rural town of Sabaneta in Venezuela's western plains. He was the son of schoolteacher parents and the second of six brothers.
Chavez was a fine baseball player and hoped he might one day pitch in the U.S. major leagues. When he joined the military at age 17, he aimed to keep honing his baseball skills in the capital.
But the young soldier immersed himself in the history of Bolivar and other Venezuelan heroes who had overthrown Spanish rule, and his political ideas began to take shape.
Chavez burst into public view in 1992 as a paratroop commander leading a military rebellion that brought tanks to the presidential palace. When the coup collapsed, Chavez was allowed to make a televised statement in which he declared that his movement had failed "for now." The speech, and those two defiant words, launched his career, searing his image into the memory of Venezuelans.
He and other coup prisoners were released in 1994, and President Rafael Caldera dropped the charges against them.
Chavez then organized a new political party and ran for president four years later, vowing to shatter Venezuela's traditional two-party system. At age 44, he became the country's youngest president in four decades of democracy with 56 percent of the vote.
Chavez was re-elected in 2000 in an election called under a new constitution drafted by his allies. His increasingly confrontational style and close ties to Cuba, however, disenchanted many of the middle-class supporters who had voted for him. The next several years saw bold but failed attempts by opponents to dislodge him from power.
In 2002, he survived a short-lived coup, which began after a large anti-Chavez street protest ended in deadly shootings. Dissident military officers detained the president and announced he had resigned. But within two days, he returned to power with the help of military loyalists while his supporters rallied in the streets.
Chavez emerged a stronger president. He defeated a subsequent opposition-led strike that paralyzed the country's oil industry, and he fired thousands of state oil company employees.
The coup also turned Chavez more decidedly against the U.S. government, which had swiftly recognized the provisional leader who had briefly replaced him. He created political and trade alliances that excluded the U.S., and he cozied up to Iran and Syria in large part, it seemed, due to their shared antagonism toward the U.S. government.
Despite the souring relationship, Chavez sold the bulk of Venezuela's oil to the United States.
He easily won re-election in 2006, and then said it was his destiny to lead Venezuela until 2021 or even 2031.
"I'm still a subversive," Chavez said in a 2007 interview with The Associated Press. "I think the entire world has to be subverted."
Playing such a larger-than-life public figure ultimately left little time for a personal life.
His second marriage, to journalist Marisabel Rodriguez, deteriorated in the early years of his presidency, and they divorced in 2004. In addition to their one daughter, Rosines, Chavez had three children from his first marriage, which ended before Chavez ran for office.
Chavez acknowledged after he was diagnosed with cancer that he had been recklessly neglecting his health. He had taken to staying up late and drinking as many as 40 cups of coffee a day. He regularly summoned his Cabinet ministers to the presidential palace late at night.
He often said he believed Venezuela was on its way down a long road toward socialism, and that there was no turning back. After winning re-election in 2012, he vowed to deepen his push to transform Venezuela.
His political movement, however, was mostly a one-man show. Only three days before his final surgery, Chavez named Maduro as his chosen successor.
Now, it will be up to Venezuelans to determine whether the Chavismo movement can survive, and how it will evolve, without the leader who inspired it.