June 24, 2026 / 7:10 PM EDT

/ CBS/AP

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Conservative outsider Abelardo de la Espriella, a millionaire political neophyte, will be Colombia's next president after electoral authorities on Wednesday declared him the winner of Sunday's runoff election.The businessman and lawyer, whose ventures include a clothing line, wine and rum brands, and a restaurant, earned President Trump's endorsement despite never having run for office. He defeated progressive lawmaker Iván Cepeda by 1 percentage point, or more than 251,000 votes.The result effectively was an indictment of outgoing President Gustavo Petro's government, whose policies Cepeda had promised to continue, including a largely failed effort to establish dialogue with multiple armed groups.Studies have found that Petro's attempted peace negotiation policies have resulted in the expansion of power and membership of armed criminal groups. Cepeda has participated in and continued throughout the campaign to promote negotiations with guerrillas and cartels. The issue has been particularly salient for low-income families living near fields of coca, the shrub used to make cocaine, as human rights organizations documented more than 50 massacres in Colombia just this year.