Pablo Escobar's net worth
Pablo Escobar was a Colombian drug lord with a peak net worth of $30 billion. He led the Medellin Drug Cartel, one of the most violent and notorious cartels in history. At its height, this cartel controlled 80% of the world’s cocaine market and was responsible for thousands of murders, including many innocent civilians.
Criminal Activities
Escobar's cartel committed many crimes, like murders, kidnappings, and bombings. He ordered the deaths of hundreds of police officers, politicians, and judges who tried to stop him. Despite his brutal actions, some people saw him as a Robin Hood because he gave money and resources to the poor in Colombia. He even tried to gain political power by running for office. Escobar's reign ended in 1993 when Colombian authorities killed him in a shootout, which also led to the dismantling of his cartel.
Early Life
On December 1, 1949, Pablo Escobar was born in Rionegro, Colombia. He was the third of seven children. His mother was a teacher, while his father farmed. He grew up in Medellin, where he started his criminal career as a teenager, selling fake diplomas and stolen gravestones. He attended college briefly but did not complete his degree. In the early 1970s, Escobar began committing more serious crimes, including kidnapping for ransom.
Key Facts
Key Facts
Escobar would write off $500 million per year due to "spoilage" (losses from damage or rats eating the money).
He once burned $2 million to stay warm while hiding.
He offered Colombia $10 billion for a pardon.
By 1987, he had earned $3 billion personally, equivalent to about $8 billion today.
80% of the cocaine produced worldwide came from him at his height.
The cartel smuggled 15 tons of cocaine into the US daily.
Criminal Career
In 1975, Escobar started his large-scale cocaine operation, the Medellin Cartel. He used over 20 planes and several helicopters to smuggle drugs from Colombia to the United States. Escobar would buy cocaine paste in Peru, refine it, and then smuggle it inside plane tires. Pilots could earn up to $500,000 per flight. By the mid-1980s, the cartel was making about $420 million a week by controlling 80% of the cocaine entering the US.
Reign of Terror
Escobar became a hero to some people in Medellin because he built sports fields, sponsored children's football teams, and gave money to the poor. However, his fame turned into terror in Colombia. Elected to Congress in 1982, Escobar had to resign two years later when his criminal activities were revealed. He then targeted his political enemies, who were responsible for thousands of deaths.
Prison and death
After the cartel assassinated a presidential candidate, the government pursued Escobar more aggressively. In 1991, he surrendered and agreed to stop all criminal activities in exchange for a reduced sentence. He was jailed in his own luxury prison, La Catedral, but continued running the cartel from inside. The government decided to move him to a regular prison in 1992, but Escobar escaped and was killed in a shootout in 1993.
Wealth and money
While alive, Escobar employed ten accountants to manage his illicit wealth. He reportedly spent $2,500 a month on rubber bands to bundle the money. Due to storage issues, he had to write off $500 million a year. At one point, he offered to pay Colombia's national debt of over $10 billion for legal protection.
"Forbes" classified him as a billionaire in 1987, estimating his personal earnings at $3 billion, which is equivalent to $8 billion today. He remained on the billionaire list for seven years.
Personal Life
Escobar married 15-year-old Maria Victoria Henao when he was 26. They had two children, Juan Pablo (later Sebastian Marroquin) and Manuela. Escobar had multiple affairs during the marriage.
Pop Culture
Pablo Escobar's life has inspired many books, films, and TV shows. The Netflix series "Narcos," released in 2015, is one of the most notable. His life is also depicted in films like "Blow," "Escobar," and "American Made." Escobar owned four hippos at the time of his death, which had multiplied to 16 by 2007. National Geographic made a documentary about them called "Cocaine Hippos."