Pablo Escobar Bio | Net worth, Early Life
Pablo Emilio Escobar born on the 1st of December 1949,in Rionegro, Antioquia, Colombia.
He was a Colombian drug lord and narcoterrorist, and he was the founder and sole leader of the Medellin Cartel.
Pablo Escobar Education and Career
He studied briefly at Universidad Autonoma Latinoamericana of Medellin, but he never graduated he instead began engaging in illegal criminal activity.
He sold illegal cigarettes and took part in motor theft. In the 1970’s he began working for drug smugglers and kidnapping people for ransom.
Escobar founded the Medellin Cartel, which dealt with cocaine distribution and smuggling it into the United States.
It was said that Escobar led shipments of 70-80 tons of cocaine from Colombia to the United States monthly.
His continual sales led to battles between rival cartels local and abroad, which resulted in the deaths of police officers, judges, and politicians.
Escobar ventured into politics in 1982 and was a member of the Chamber of Representatives as part of the Liberal Alternative movement and was responsible for community projects such as constructing houses and football fields, making him popular amongst the locals.
The U.S and Colombian Governments began to hunt for him.
Many citizens helped him avoid being arrested.
Pablo Escobar had employed ten accounts to help him launder millions of dollars in illegal currency.
He spent about $2500 a month buying rubber bands to wrap all the money.
He stored plenty of his money in basements and walls and was forced to write off $500 million in cash every year due to spoilage, which could include starving rats that ate the money thinking it was food.
Due to his high rate of crime, the Government sought his arrest.
In 1991 he surrendered to authorities and was sentenced to prison for five years but was able to strike a deal of no extradition with the Colombian president, with the ability to be housed in his self-built prison in La Cathedral.
He escaped in 1992 and went into hiding when he moved to a more standard holding facility.
As a result of being on the run, the Medellin Cartel crumbles, and Colombian National Police killed Escobar.
Pablo Escobar Net worth
In 1987 Pablo’s wealth was pegged by Forbes to be worth $1 billion.
His personal earning at that point was estimated to be $3 billion.
He made the list of the world’s billionaires for seven years.
When he was on the run from the Government, he offered to pay Colombia $10 billion to clear off their national debt if they passed a law to make extradition illegal.
He once burned $2 million to stay warm while being chased by the authorities.
At his peak, he supplied 80% of the world’s cocaine.
Escobar himself already had a Networth of $30 billion and was one of the world’s top ten wealthiest people.