Pablo Escobar net worth:$5 billion
Pablo Escobar is considered to have been one of the most powerful drug traffickers in the world. As per American authorities, Pablo Escobar has cash reserves of over $4 Billion million in US and Mexican Currency, stacked in various parts of Colombia. After the death of Pablo Escobar, most of his assets were confiscated by the Americans and whatever is left was inherited by his children.
Pablo Escobar Net Worth At Death:
|Net Worth at Death||$5 Billion|
|Highest Net Worth||$37 Billion|
|Cash Reserves||$4 Million|
|Gold & Diamonds||$100 Million|
Pablo Escobar’s Highest Net Worth
At the height of his empire in the late 1980s, Pablo Escobar’s net worth has exceeded $37 Billion dollars, making him one of the richest persons in Colombia and South America. During this period, Pablo Escobar had over $10 billion dollars worth of drugs (Over 40 tonnes) stockpiled ready to be shipped to Mexico, and then to the United States.
Pablo Escobar’s Cash
Cash from the United States was pouring into Pablo Escobar’s hands every day. It is estimated that Pablo Escobar received over $50 million in cash each day through his drug sales. Such a huge cash pile is too big to be laundered, and therefore, Pablo Escobar started buying safe houses to store this cash.
Pablo Escobar’s Net Worth Key Facts:
- When Pablo Escobar has started his career, his salary was $3 dollars per day.
- Pablo Escobar has breached the $1 million net worth figure in 1984.
- By 1990, Pablo Escobar’s net worth has exceeded the $30 billion figure.
- Pablo Escobar’s net worth at the time of his death was $4 Billion Dollars.
- The remainder of Pablo Escobar’s wealth has been equally distributed among his children and confidants after his death.
Pablo Escobar’s Assets & Money Laundering
Pablo Escobar worked with accountants to exploit the banking systems in the United States and Europe. Out of all Pablo Escobar’s methods of laundering money, depositing amounts smaller than $10,000 to avoid Bank Secrecy Act (BSA) reporting regulations is the most popular.
One of the most effective ways to clean large amounts of cash is through what is known as “trade-based money laundering,” a technique Pablo Escobar developed into an art form. Pablo Escobar did this by buying easily sold items such as clothes or electronics from a legitimate company in the United States and then selling the items on the other side of the border for pesos.
Pablo Escobar’s Net Worth Growth Rate
|Net Worth in 1980||$10 Million|
|Net Worth in 1985||$2 Billion|
|Net Worth in 1990||$37 Billion|
|Net Worth in 1994||$5 Billion|
How did Pablo Escobar launder money?
Money laundering takes place in three stages. Placement is the initial stage. Here, Pablo Escobar introduced the illicit proceeds or financial assets made from their deals to a legal financial institution. Pablo Escobar also used to trade stocks in a foreign market in order to cover the money trail. Pablo Escobar hired a veritable army of people to deposit small amounts of cash in banks all over the country, in cities large and small.
Pablo Escobar hired teams of computing specialists to hack into data networks, along with savvy, talented attorneys to help them skirt the legal system. Once Pablo Escobar’s illegal money is deposited in a U.S. bank, it is much easier to transfer and hide behind the smokescreen of an apparently legitimate business enterprise.
Pablo Escobar Wiki:
|Born||Pablo Emilio Escobar Gaviria|
1 December 1949
Rionegro, Antioquia, Colombia
|Died||2 December 1993 (aged 44)|
Medellín, Antioquia, Colombia
|Cause of death||Gunshot wound to the head|
|Other names||Don Pablo (Sir Pablo)El Padrino (The Godfather)El Patrón (The Boss)Matar Pablo (Killing Pablo)The King of CocaineThe King of CrackPaisa Robin Hood|
|Political party||Liberal Alternative|
|Spouse(s)||Maria Victoria Henao(m. 1976)|
|Children||Sebastián Marroquín and Manuela Escobar|
|Conviction(s)||Illegal drug trade, assassinations, bombing, bribery, racketeering, murder|
|Criminal penalty||Five years’ imprisonment|
Pablo Escobar was born in 1949 as the son of a teacher and a peasant. Pablo Escobar began his criminal career with the theft of tombstones that he sold to smugglers from Panama. Pablo Escobar collaborated with five or six other illegal entrepreneurs from the Medellín area on a partnership basis.
Pablo Emilio Escobar Gaviria (1 December 1949 – 2 December 1993) was a Colombian drug lord and narcoterrorist who was the founder and sole leader of the Medellín Cartel. Dubbed “the king of cocaine”, Escobar is the wealthiest criminal in history, having amassed an estimated net worth of US$30 billion by the time of his death—equivalent to $64 billion as of 2021—while his drug cartel monopolized the cocaine trade into the United States in the 1980s and early 1990s.
Born in Rionegro and raised in Medellín, Escobar studied briefly at Universidad Autónoma Latinoamericana of Medellín, but left without graduating; he instead began engaging in criminal activity, selling illegal cigarettes and fake lottery tickets, as well as participating in motor vehicle theft. In the early 1970s, he began to work for various drug smugglers, often kidnapping and holding people for ransom.
In 1976, Escobar founded the Medellín Cartel, which distributed powder cocaine, and established the first smuggling routes into the United States. Escobar’s infiltration into the U.S. created exponential demand for cocaine and by the 1980s it was estimated Escobar led monthly shipments of 70 to 80 tons of cocaine into the country from Colombia. As a result, he quickly became one of the richest people in the world, but constantly battled rival cartels domestically and abroad, leading to massacres and the murders of police officers, judges, locals, and prominent politicians, making Colombia the murder capital of the world.
In the 1982 Colombian parliamentary election, Escobar was elected as an alternate member of the Chamber of Representatives as part of the Liberal Alternative movement. Through this, he was responsible for community projects such as the construction of houses and football fields, which gained him popularity among the locals of the towns that he frequented. However, Escobar’s political ambitions were thwarted by the Colombian and U.S. governments, who routinely pushed for his arrest, with Escobar widely believed to have orchestrated the DAS Building and Avianca Flight 203 bombings in retaliation.
Pablo Escobar Wife, childrens:
In March 1976, the 26-year-old Escobar married María Victoria Henao, who was 15. The relationship was discouraged by the Henao family, who considered Escobar socially inferior; the pair eloped.They had two children: Juan Pablo (now Sebastián Marroquín) and Manuela.
In 2007, the journalist Virginia Vallejo published her memoir Amando a Pablo, odiando a Escobar (Loving Pablo, Hating Escobar), in which she describes her romantic relationship with Escobar and the links of her lover with several presidents, Caribbean dictators, and high-profile politicians.Her book inspired the movie Loving Pablo (2017).
A drug distributor, Griselda Blanco, is also reported to have conducted a clandestine, but passionate, relationship with Escobar; several items in her diary link him with the nicknames “Coque de Mi Rey” (My Coke King) and “Polla Blanca” (White Cock).[
Where did Pablo Escobar money go?
The wealth of Pablo Escobar has been confiscated by the American authorities, including $2 billion in cash stacked in various banks across the world.
How did Pablo Escobar get so rich?
Pablo Escobar has moved over $1 billion worth of drugs each month into the United States, making him the richest drug lord ever in history.
Does Pablo Escobar’s wife have money?
Pablo Escobar’s wife has inherited up to $10 million, which helped her to lead a dignified life along with her son.
Is Pablo Escobar’s daughter rich?
The current net worth of Pablo Escobar’s daughter is over $100 million.