Pablo Escobar’s Net Worth
Pablo Escobar net worth was $37 billion Dollars at the time of his death. Pablo Escobar is considered to have been one of the most powerful drug traffickers in the world.
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. Checkout El Chapo Net Worth.
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.
Key Facts about Pablo Escobar’s Net Worth
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. Chekout Jordon Belfort Net Worth. 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
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’s Early Life
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.
