Luis Abinader Net Worth: How Did the Dominican Republic President Become One of the Wealthiest Latin American Leaders?

One of the wealthiest Latin American leaders is Dominican Republic's President Luis Abinader. He was among political leaders with backgrounds in the business industry before becoming head of the country.

Abinader is the son of businessman and political leader Jose Rafael Abinader and Rosa Sula Corona.

According to The Embassy, the Dominican Republican president studied high school at Colegio Loyola and got his degree at the Instituto Tecnológico de Santo Domingo in Economics.

He pursued his postgraduate degree in the U.S. at the Arthur D. Little Institute in Cambridge in Project Management. Abinader also received a degree at Harvard University in Corporate Finance and Financial Engineering.

He also earned an Advanced Management degree at Dartmouth College in New Hampshire.

Luis Abinader then served as executive president of the ABICOR Group. The company has developed and operated important tourism projects in the nation.

Dominican Republic President Luis Abinader Net Worth

Luis Abinader has the largest declared wealth, exceeding $70 million, as he was the executive president of ABICOR Group, according to Bloomberg Linea.

Aside from being a high-ranking official in their family group, Abinader also became the Hotel Association of Sosua and Cabarete's president.

He is also a member of the Board of Directors of the National Association of Hotels and Restaurants and the O&M University Foundation.

Abinader reportedly donates his salary to charity.

The Dominican Republic president has a total asset worth $76,156,866 as of September 2020. He also has a gross monthly salary of $8,192 based on his sworn declaration of wealth.

In October 2021, La Prensa Latina reported that the Dominican Republic leader noted that he had cut ties with any family-owned businesses before his inauguration in August 2020.

The Office of the President released a statement saying that Abinader has been "completely disassociated from the administration and management of all corporations controlled by his family," may it be based in the Dominican Republic or abroad.

Abinader is one of the current world leaders who reportedly have corporations in tax havens to avoid paying taxes in their home countries, as revealed in the investigation of the International Consortium of Investigative Journalists.

The president's office responded to the investigation by saying that the president and his family used offshore companies to manage investments and local assets that follow the tax rules in the country.

Administration of Dominican Republic President Luis Abinader

Luis Abinader has made an anti-corruption effort, and authorities launched a probe on alleged corruption from members of the previous administration and Abinader's government.

According to Americas Quarterly, he has also sought to improve regional relations by joining the Alliance for Development in Democracy with Costa Rica and Panama to promote political ties.

In 2021, the Dominican Republic's GDP grew by 10.4 percent, benefiting from pandemic-era tourism. However, his administration was scrutinized for the mistreatment of Haitians and the construction of a wall along the border.

In the same year, Associated Press reported that a man was threatening to kidnap and kill Abinader before the arrival of officials for the U.N. proceedings. The man was detained without bail and was deemed a danger to the community.

This article is owned by Latin Post.

Written by: Mary Webber

WATCH: A Conversation With President Luis Abinader of the Dominican Republic - From WoodRowWilsonCenter