Nayib Bukele, president of El Salvador, has a personal net worth of $2 million.
In 2019, Bukele became a global phenomenon for his “Diamond Hands” approach to crypto, adopting Bitcoin as a legal tender currency alongside the US Dollar in El Salvador.
What led him to adopt Bitcoin so aggressively and how did he build up his money before politics?
Nayib was born on July 24, 1981, to Olga Ortez de Bukele and Armando Bukele, both entrepreneurs who owned textile and pharmaceutical businesses.
Despite the fact that he is the son of a Christian mother and a Muslim father, Bukele believes in God rather than religion first and foremost.
Nayib married Gabriela Rodriguez in December 2014, making her the First Lady of El Salvador. Gabriela is a psychologist, teacher, and ballet dancer. The couple has one child together.
What made President Nayib Bukele buy so many Bitcoins?
President Bukele’s plan to invest in Bitcoin aims to create wealth for his impoverished country.
During his tenure, the government is believed to have purchased 2,380+ Bitcoins (July 2022) and plans to develop a Bitcoin City in the east of the country.
The President’s Bitcoin play is a long shot for the country beset with all the problems you’d expect from Central America: corruption, poorly educated workforce, unbanked economy operating mostly on cash, afflicted with generational poverty due to crime, gangs, drugs, violence and horrendous murder rates, and a poor education system.
El Salvador’s status internationally has been elevated by the President in the eyes of many casual observers and crypto investors.
He will have achieved something few others have been able to accomplish if President Bukele’s ambitious Bitcoin play succeeds.
El Salvadoran education at Escuela Panamericana.
Given the size and complexity of the Bukele family, Nayib grew up in a clan.
Bukele Ortez, his father, built a considerable business empire in El Salvador spanning advertising, textiles, pharmaceuticals, beverages, and automobiles. Nayib was running Yamaha Motor El Salvador by the age of 18. In later years, he would serve as president and director of OBERMET, a family-owned advertising agency.
He first became mayor of Nuevo Cuscatian and later became mayor of San Salvador, El Salvador’s capital city. In addition to enacting laws to curb criminal gangs, he also expanded local infrastructure to reduce crime and murder rates. Nayib ran for President in 2019 and was elected in June.
The Portal de Transparencia (Office for Transparency) shows that El Salvador’s President Nayib Bukele draws an annual salary and expenses of about US$60,000 – modest by Western standards yet still far above minimum wage workers. His wealth is largely derived from his stake in the Bukele family business and he owns Bitcoin as well.