What is Argentina’s new President Javier Milei’s net worth?

The new president of Argentina, Javier Milei, has inaugurated the his term as head of the government with decisions that are, to say the least, striking. One of them, the devaluation of the Argentine peso by 50% with respect to the US dollar. A measure he explained as a way to avoid hyperinflation, but which already in the first days has begun to have its first consequences.

After going from 400 pesos per dollar to 820, the prices of products such as oil, flour or dairy products have begun to rise. Beyond these decisions, Milei’s political life has just begun, so to speak. After a long career as an economist, he made the leap into Argentine politics two years ago, when he was elected to the Argentine Chamber of Deputies, the lower national legislative body.

Perhaps these measures come from his past as an economist, which often seek to make cuts in public spending. He intends to cut up to 20 billion dollars, over a quarter of the budget at 2022 levels, and balance the budget by the end of 2024. His arrival at the Casa Rosada has sparked interest in where he comes from, his career before becoming president and, especially, his finances. For someone who is proposing, and already implementing, these measures for an entire country that has been suffering financially for several years, what is his new worth?

Economic career

Before entering the world of politics, Milei had a career as an economist and academic. Among other jobs, he was an intern at the Central Bank of Argentina from December 1992 until June of the following year. Throughout his career he also worked as a university professor, teaching different subjects such as microeconomics, monetary theory, financial economics or macroeconomics, both in Argentina and abroad.

In addition, the current Argentine president has also been chief economist at Máxima AFJP, a retirement fund manager, senior economist at HSBC Bank and advisor to the Argentine State in the International Center for Settlement of Investment Disputes (ICSID).

An estate in various currencies

All these jobs, plus his appearances as a guest speaker and collaborator in academic and journalistic articles, have earned Javier Milei a net worth of 21 million Argentine pesos (about 57,000 dollars before of the currency devaluation, now about 25,000 dollars), according to his sworn statement before the Argentine Anti-Corruption Office.

In addition, the president has savings worth about 20,000 in US currency and one million in the national currency. Data that represents an increase of 64% compared to his first statement as a deputy, two years ago.

On the other hand, Milei has material assets that increase his estate. Among them, a 1,100 square foot apartment in the City of Buenos Aires valued at six million pesos (about 15,000 dollars before devaluation), and two vehicles: a Mercedes Benz Sprinter van and a Peugeot Rcz Coupé. Finally, the Argentine president has a credit for two million pes.os ($2,500 after devaluation) for retained earnings.