Gabon is one of West Africa's more stable countries. Since independence from France in 1960, Gabon has had just two presidents. President Omar Bongo, who was in power for more than four decades, died in June 2009. His son, Ali Bongo Ondimba, won the presidential elections and became the country’s new leader in October 2009. Gabon enjoys a per capita income of over US$7000, which is well above that of most of sub-Saharan African nations, thanks to its oil wealth and political stability. However, since the oil wealth is not distributed equitably, nearly half the population still lives below the poverty line. Moreover, Gabon’s heavy dependence on oil makes the economy vulnerable to fluctuations in world oil prices and a decline of oil production.