According to a recent report, Nayib Bukele, his wife and brothers have purchased land and luxury apartments for a million dollars. The size of his territory is said to be 15 times larger than Bukele’s mega-prison.
By mid-2024, Nayib Bukele President of El Salvador, was finishing his first term when, in addition to being re-elected, he became a landowner in his country and acquired 363 hectares for a total of 9.2 million dollars. This was revealed by a recent journalistic investigation conducted by Regional editorial And TV spots .
With his family, The president has purchased 34 new luxury properties and farms where coffee and cane are harvested for his gourmet coffee brand Fire Bean thus multiplying by 12 times the area of land it currently owns.
This is in addition to the land he has been buying since 2019: his wife, Gabriela Rodríguez de Bukele, his mother Olga Ortez de Bukele and his brothers Karim, Ibrajim and Yusef Bukele. They personally acquired 16 properties in “exclusive areas” of El Salvador, worth $1.4 million.
That’s all the report revealed about Bukele’s acquisitions in recent years.
The Million Dollar Properties Nayib Bukele Bought With His Family
The journalistic investigation that revealed Nayib Bukele’s land purchases It is based on official documents from the National Property Registry of El Salvador.
In these documents, researchers were able to learn that among the Salvadoran president’s most recent million-dollar acquisitions are: a plot of land with a “privileged view” of Lake Coatepeque, located in one of the most exclusive tourist spots in the country, seven coffee plantations, two sugarcane farms and a long list of luxury apartments.
In addition, the journalists discovered other property purchases made between 2019 and 2023 by Bukele’s family, through family businesses – which previously generated little or no business.
But One of the most striking lands purchased by Bukele is La Hacienda Dorada. : it is a colossal domain of 231 hectares which is located in the lower part of the Ilamatepec volcano, in the department of Santa Ana, where the president grows the gourmet beans for his brand of coffee. Fire Bean.
This coffee brand was created by Bukele in 2014. On their website, they promote it as “volcanic coffee that grows in some of the most fertile and mineral-rich soils in the world.”
And although the president previously said it was a personal matter “and not a government matter,” The social media accounts of the Presidency and Press and Communication – financed by public funds – have promoted the coffee on several occasions.
At the same time, the Bukele family would have made a “permanent investment” of 4.9 million dollars for this coffee company through the Corporación Logística de Servicios SA de CV of which the president is the sole owner and administrator.
As the newspaper explains, This company has not seen any movement of its capital since 2013. Between 2022 and 2023 alone, it injected more than $6 million into its assets.
The journalist who conducted the investigation, Jaime Quintanilla, said: The country that The increase in the company’s assets came from “mortgage loans,” but “these companies did not have a profile that justified access to million-dollar loans.”
“Before they grew up, their net worth was less than $20,000. So, “How come a bank gives millions of dollars to companies that apparently have no way of servicing their debt?” he wondered.
The report also established that, With this large investment in Hacienda Dorada, Bukele and his family entered “the select group of 2% of large coffee producers in El Salvador.” who have more than 100 cultivable blocks, according to the National Coffee Institute “.
“Bukele and his family acquired these million-dollar properties in a context where the majority of Salvadorans are going through an economic crisis due to the increase in the prices of the basic basket” ” assured Quintanilla.
The journalist also added that “while he claims in his speeches that he is creating an ‘economic miracle’, we see that In reality, a new Salvadoran oligarchy is being consolidated, with the aggravating circumstance that its government and the Assembly controlled by the ruling party have modified 17 laws to encourage the cultivation, marketing and promotion of coffee.
On the latter point, the report states that Bukele’s party, Nuevas Ideas, “has taken control of Parliament, with deputies They approved 17 laws related to the production, marketing abroad and promotion of coffee, including a $640 million trust to save coffee farming.
And, in addition to all of the above, The investigation also revealed the creation of a limited liability company based in Miami, United States, through two front men: “Raquel A. Ordoñez Gutierrez, affiliated with Nuevas Ideas, and Jonathan E. Martir Pineda.”
“The project of having legal status abroad, as explained by the employees of the production line of Fire Bean“It was about being able to sell the product through Amazon. The online shopping giant actually links the product manufactured by Hacienda Dorada in El Salvador with Hacienda Dorada LLC in Miami,” the report said.
“The extension of its land is equivalent to 15 times that of the Terrorism Containment Center (CECOT), the mega-prison in which the Salvadoran president promised to lock up the gang members.
Furthermore, research has also established that The Supreme Court of Justice has declared confidential the public versions of Nayib Bukele’s asset declarations.
And, meanwhile, Neither the president nor his family have responded publicly to the journalistic inquiry.
Source: Latercera
I am David Jack and I have been working in the news industry for over 10 years. As an experienced journalist, I specialize in covering sports news with a focus on golf. My articles have been published by some of the most respected publications in the world including The New York Times and Sports Illustrated.
