Horacio Cartes Net Worth

What is Horacio Cartes’ Net Worth?

Horacio Cartes is a Paraguayan businessman and politician with a net worth of $500 million. He is best known as the current president of Paraguay. Cartes has amassed his wealth through his ownership of numerous businesses, primarily under his conglomerate called Grupo Cartes. His ventures span various sectors including tobacco, soft drinks, meat production, and banking.

Highlights

– Horacio Cartes has a net worth of $500 million.

– He is the current president of Paraguay.

– Cartes owns a conglomerate called Grupo Cartes which encompasses businesses in various industries.

– He was involved in the world of football, having served as the president of Club Libertad football club and the Paraguayan Football Association’s national team department.

– Cartes embarked on his entrepreneurial journey after returning to Paraguay from the United States.

Early Life

Horacio Cartes, whose full name is Horacio Manuel Cartes Jara, was born on July 5, 1956, in Asunción, Paraguay. He attended prestigious private schools in Asunción before pursuing his studies in the United States at the Spartan School of Aeronautics, now known as Spartan College of Aeronautics and Technology. He returned to Paraguay at the age of 19 and began his entrepreneurial career.

Career

Cartes’ early business endeavors included a currency exchange company, which exposed him to an investigation by the dictatorial regime of Alfredo Stroessner in the mid-1980s. He spent four years as a fugitive before finally returning to Asunción in 1989. Although briefly incarcerated, Cartes was eventually freed when charges of currency fraud were dropped.

His rise in the business world led him to become one of the wealthiest men in Paraguay. He established Grupo Cartes, a conglomerate that became the backbone of his entrepreneurial success. The conglomerate encompasses diverse businesses such as tobacco, soft drink production, meat production, and banking.

In addition to his business ventures, Cartes had an involvement in football. He served as the president of Club Libertad football club from 2001 until 2012. Furthermore, he held the position of president of the national team department of the Paraguayan Football Association during the 2010 FIFA World Cup qualification.

Personal Life

Horacio Cartes’ personal life has not been extensively covered in public. However, it is known that he is a member of the Colorado Party, a political party in Paraguay, which highlights his political affiliation.

Net Worth Over Time

Horacio Cartes’ net worth has grown significantly over the years. Starting from his entrepreneurial journey, he steadily expanded his business empire and accumulated substantial wealth. Currently, his net worth is estimated to be $500 million, demonstrating his financial success.

Components of Net Worth

Cartes’ net worth is primarily derived from his ownership of Grupo Cartes and its various businesses. The conglomerate’s operations in tobacco, soft drink production, meat production, and banking contribute significantly to his overall wealth. Additionally, his involvement in football and presidency of Club Libertad also likely added to his net worth over time.

In conclusion, Horacio Cartes is a prominent Paraguayan businessman and politician with a net worth of $500 million. He has achieved substantial financial success through his conglomerate, Grupo Cartes, and its operations across different industries. His involvement in football further contributed to his prominence in Paraguayan society. With his entrepreneurial acumen and political position, Cartes has solidified his place among the wealthiest individuals in Paraguay.

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