Following the end of Arévalo's highly popular presidency in 1951, Árbenz was elected president. He continued the reforms of Arévalo and also began an ambitious land reform program known as Decree 900. Under it, the uncultivated portions of large land-holdings were expropriated in return for compensation and redistributed to poverty-stricken agricultural laborers. The agrarian reform law angered the United Fruit Company, which at the time dominated the Guatemalan economy. Benefiting from decades of support from the US government, by 1930 the company was already the largest landowner and employer in Guatemala. It was granted further favors by Ubico, including of public land, and an exemption from all taxes.