Pablo Escobar Net Worth
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4 min read
Pablo Escobar Net Worth and Life Story
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $30 billion | N/A | December 1, 1949 | Rionegro, Colombia | Male | N/A | Drug Kingpin | Colombian |
What is Pablo Escobar’s Net Worth?
Pablo Escobar, the Colombian drug kingpin, had a peak net worth of $30 billion during his lifetime. He was the leader of the notorious Medellin Drug Cartel, which controlled 80% of the global cocaine market. Despite his criminal activities, Escobar was seen by some as a Robin Hood figure, providing resources and money to the poor in Colombia. He used his vast wealth to gain political power and even ran for office himself. However, his reign came to an end with his death in 1993.
Highlights
- Pablo Escobar had a peak net worth of $30 billion.
- He ran the infamous Medellin Drug Cartel, which controlled 80% of the global cocaine market.
- Escobar was known for his violent tactics and was responsible for thousands of murders.
- Despite his criminal activities, he was seen as a Robin Hood figure by some.
- Escobar was killed by Colombian authorities in 1993, marking the end of an era of violent drug trafficking in Colombia.
Early Life
Pablo Escobar was born on December 1, 1949, in Rionegro, Colombia. He grew up in Medellin, where he is believed to have started his criminal career as a teenager. Escobar engaged in various illegal activities, including selling gravestones and counterfeit diplomas. Despite attending the Universidad Autonoma Latinoamericana briefly, he did not complete a degree. Escobar’s criminal activities escalated in the early seventies, when he partnered with Oscar Benel Aguirre to run scams and sell contraband items.
Criminal Career
In 1975, Pablo Escobar established the Medellin Cartel, which became a massive cocaine operation. He used a fleet of planes, including a Learjet and six helicopters, to smuggle drugs from Colombia to Panama and the United States. The demand for cocaine in the United States was high, and the cartel controlled 80% of the smuggled drugs, earning around $420 million per week.
Escobar’s criminal career brought him immense wealth, making him one of the ten richest people on earth. He gained popularity among the people of Medellin, especially the poor, through his philanthropic activities. However, he was also being hunted by the U.S. and Colombian governments.
Personal Life
In March 1976, Pablo Escobar married Maria Victoria Henao when she was 15 years old. They had two children together, Juan Pablo (who later changed his name to Sebastian Marroquin) and Manuela. Escobar is reported to have had multiple affairs throughout their marriage.
Net Worth Over Time
During his criminal career, Escobar employed ten accountants to help launder hundreds of millions of dollars in illicit currency. He spent a significant amount of money on rubber bands, approximately $2,500 per month, to wrap his cash. Pablo’s immense wealth led to challenges in storing the money, resulting in spoilage. It is estimated that he had to write off $500 million in cash annually due to spoilage, caused by water damage, fires, and rats consuming the money.
In 1987, Forbes Magazine estimated Pablo Escobar’s wealth to be over $1 billion, making him one of the world’s billionaires. His personal earnings at that time were estimated to be around $3 billion. Escobar appeared on Forbes’ list of billionaires for the next seven years.
Components of Net Worth
Pablo Escobar’s net worth consisted mainly of his earnings from drug trafficking. He controlled a significant share of the global cocaine market, earning billions of dollars annually. His wealth allowed him to live a life of luxury, with private planes, a luxurious prison named La Catedral, and various properties.
Conclusion
Pablo Escobar’s net worth reached a staggering $30 billion during his lifetime. He amassed his wealth through his leadership of the Medellin Drug Cartel, which controlled a substantial portion of the global cocaine market. Despite his criminal activities, he was viewed as a hero by some due to his philanthropic endeavors. His reign of terror came to an end in 1993 when he was killed by Colombian authorities. Escobar’s life continues to be a subject of fascination in popular culture, with books, films, and TV shows showcasing his criminal career.
