Horacio Cartes' Net Worth: An Insight into the Business Tycoon
Horacio Cartes, a Paraguayan businessman and politician, boasts an impressive net worth of $500 million. Born Horacio Manuel Cartes Jara on July 5, 1956, in Asunción, Paraguay, he currently serves as the President of Paraguay.
Cartes is the owner of numerous businesses under the Grupo Cartes conglomerate, spanning industries such as tobacco, soft drinks, meat production, and banking. His entrepreneurial journey began after he studied at prestigious private schools in Asunción and the Spartan School of Aeronautics (now Spartan College of Aeronautics and Technology) in the United States.
Early Business Ventures and Challenges
Returning to Paraguay at the age of 19, Cartes delved into various business ventures, including a currency exchange company that drew scrutiny from the dictatorial regime of Alfredo Stroessner in the mid-1980s. After spending four years as a fugitive abroad, he returned to Asunción in 1989, where he faced brief incarceration until charges of currency fraud were eventually dropped.
Political Career and Achievements
Cartes' political journey saw him elected as President of Paraguay in 2013. Running against Efraín Alegre of the Liberal Party, he succeeded the incumbent President Federico Franco, who had assumed office following the impeachment of leftist President Fernando Lugo over allegations of mishandling a deadly conflict between peasants and police. Cartes is a prominent member of the Colorado Party.
Other Notable Contributions
Beyond his business and political endeavors, Cartes served as the president of Club Libertad football club from 2001 to 2012 and held a leadership role in the national team department of the Paraguayan Football Association during the 2010 FIFA World Cup qualification.
