Pablo Escobar is widely regarded as one of the world’s most powerful drug traffickers. According to American authorities, Pablo Escobar has more than $4 billion in US and Mexican currency stashed in various parts of Colombia.
Following Pablo Escobar’s death, the majority of his assets were confiscated by the Americans, and whatever remained was inherited by his children.
What Was Pablo Escobar’s Net Worth?
What was Pablo Escobar’s net worth? Pablo Escobar was worth approximately $30 billion at the time of his death in 1993. He had amassed his fortune through the illegal drug trade. He was regarded as one of history’s wealthiest criminals.
Pablo Escobar’s net worth surpassed $37 billion dollars at the height of his empire in the late 1980s, making him one of Colombia’s and South America’s richest people. During this time, Pablo Escobar had more than $10 billion in drugs (over 40 tonnes) ready to be shipped to Mexico and then to the United States. Let’s check out how much money Pablo used to make a day.
How Much Money Did Pablo Escobar Make A Day?
Pablo allegedly received more than $50 million in cash each day from his illegal drug sales. His cartel, The Medellin Drug Cartel, was extremely powerful, supplying roughly 80% of illegal substances in America at its peak. Every day, his cartel smuggled 15 tonnes of illegal substances into the United States of America.
In 2020 UberFacts made a Tweet about Pablo’s net worth in 1989. You can see the Tweet below.
In 1989, Forbes listed Pablo Escobar as one of the richest men in the world with a net worth of $3 billion.
His son said they were 'not even close' to his true fortune. (It's estimated that Escobar made at least $60 million a day during his peak in the 1980s)
— UberFacts (@UberFacts) September 30, 2020
He was always on the run because the authorities were after him. He once offered the Republic of Colombia $10 billion in exchange for a full pardon for his crime. He once burned $2 million to stay warm while on the run, and he wrote off $500 million as spoilage every year.
At its peak, the cartel was earning more than US$70 million per day. Every week, he made about $420 million from his illegal trade.
Check out more celebrity’s net worth:
- Gary Chapman Net Worth: Have A Look Into His Career And Personal Life
- Sasha Vujacic Net Worth: Look Into His Career Income And Contracts
Pablo Escobar’s Cash Money
Every day, cash from the United States poured into Pablo Escobar’s hands. Pablo Escobar is said to have received more than $50 million in cash per day from his drug sales. Because such a large cash pile cannot be laundered, Pablo Escobar began purchasing safe houses to store it.
Pablo Escobar’s Properties And Money Laundering
Pablo Escobar collaborated with accountants to take advantage of banking systems in the United States and Europe. The most popular Pablo Escobar money laundering method is depositing amounts less than $10,000 to avoid Bank Secrecy Act (BSA) reporting regulations.
One of the most effective ways to clean large amounts of cash is through “trade-based money laundering,” a technique developed into an art form by Pablo Escobar.
Pablo Escobar accomplished this by purchasing easily sold items such as clothing or electronics from a legitimate company in the United States and then selling the items for pesos on the other side of the border.
Where Did Pablo Escobar’s Money Go?
Following his death, the Colombian government inherited a sizable portion of the drug lord’s fortune. The authorities also forced his family to sign over any liquid assets that remained in their possession. Furthermore, the government seized money linked to his close associates.
His competitors also obtained some of his money and assets. The Cali cartel and Los PEPES demanded payment for their assistance in bringing down the kingpin. The two groups forced the family to sign over any liquid assets that the government had left behind.
Members of the cartel stole assets and cash from the family. Some members of the drug lord’s cartel also looted the remaining funds for personal gain. They wished to maintain financial stability following the death of their leader.
His immediate family survived on the little money that remained after his death. The drug lord did not leave a specific sum of money for his children in the event of his death. However, two of his siblings, Roberto and Alba Marina, had some access to his estate.
You might also like to read:
- Celine Dion Net Worth: How Much She Earned From Concerts In Las Vegas?
- Barack Obama Net Worth: A Look Into His Earning History
After the children ran out of money, his son Sebastian asked his aunt Alba to retrieve $60 million from a hidden location. Alba returned and stated that there was very little money left. Sebastián claimed the money was stolen from him by his aunt.
He also claimed that his uncle Robert betrayed the family by writing a book full of false claims for personal gain. Due to security concerns, the drug lord’s immediate family relocated across multiple countries. They eventually settled in Argentina, where they led a middle-class lifestyle.
Is Pablo Escobar’s Money Can Still Be Found?
The drug lord was notorious for stashing cash in walls, beneath floors, and in other obscure locations. He did so while attempting to avoid arrest, so his money is still being sought. Pablo’s money was discovered inside a wall in one of his homes in 2020, according to news reports.
His nephew, who discovered it, claimed that it was worth about $18 million and that a vision told him exactly where to look for the money.
If you found this article interesting then make sure to bookmark our website trendingnews.org for more such interesting content regularly.
Contents
