Nayib Bukele is a Salvadoran businessman and politician with an estimated net worth of $2 million. He is El Salvador’s 43rd president and is currently in office. Bukele has stepped into the international spotlight by making his country the first to make bitcoin an official currency. But, who exactly is this authoritarian leader?
Who is Nayib Bukele?
Nayib was born on July 24, 1981, to Olga Ortez de Bukele and Armando Bukele who had four other children. His father Armando was an entrepreneur and owned businesses ranging from textile to pharmaceuticals.
As the son of a Christian mother and a Muslim father, his religious views are a contentious topic among his countrymen. Nevertheless, Bukele has declared that he believes in God first and foremost, rather than religion.
In December 2014, Nayib married Gabriela Rodriguez, making her the First Lady of El Salvador. Gabriela is a psychologist, teacher and ballet dancer. The couple have one child together born in the first year of Bukele’s presidency.
Where did Nayib Attend School?
Bukele studied law at San Salvador’s Jesuit Central American University. At 18 years old, he dropped out of school and followed the footsteps of his father by starting his own business.
When Did His Political Career Start?
Nayib was elected mayor of Nuevo Cuscatlán on March 11, 2012, representing the Farabundo Marti National Liberation Front (FMLN) coalition. He had a successful three-year term by providing for the community’s elderly, giving scholarships, and cutting homicide rates considerably.
After that, he proceeded to run for mayor in El Salvador’s capital city, San Salvador, in 2015. He restored electric lines, remodeled buildings, and expanded roads. However, he was removed from the FMLN in 2017 after allegedly attacking fellow party members.
Still, this did not stop him from reaching bigger goals. His ambitions in 2019 shifted towards running for president as an independent who opposes the present system. And he won, with 53% of the votes and assumed office on June 1, 2019.
How Did He Make Bitcoin a Legal Tender?
There are many milestones accomplished by Bukele during his presidency, such as battling white-collar crime, corruption, and drug trafficking. But perhaps his most notable feat is making El Salvador the first country to make Bitcoin legal tender.
Bukele said on June 5, 2021, that he would present a measure in the Legislative Assembly to execute this and the World Bank didn’t want to help with this pursuit. On the other hand, Bitcoin maximalists such as Max Keiser have his full support.
Thus, on September 6, 2021, Bukele stated that the Salvadoran government had purchased the first 400 bitcoins and the Bitcoin Law went into effect the following day. His bold moves may be the reason why he maintains an average of 90% presidential approval rating during his reign.
How Rich is El Salvador’s President?
Nayib Bukele has found success in many of his ventures. He initially made his fortune as a businessman but as the President of El Salvador he earns an annual salary of $64,000. Bukele’s net worth is estimated to be around $2 million.