Lula: Former Brazilain President, Current Presidential Front-Runner, and Secret Billionaire?

Luiz Inácio da Silva, better known across the world as Lula, is Brazil's former president. However, he is mounting a political comeback after the courts nullified his previous corruption convictions. So, who is this Brazilian politician making a career comeback and trying to unseat right-wing president Jair Bolsonaro?

From Labor Leader to President, From Convict to Presidential Front-runner

Lula had little formal education and started working as a press operator in an automobile parts factory. An accident at the factory he was working at made him involved in union activities, and eventually became a labor leader.

He became president of the Steel Workers' Union of São Bernardo do Campo and Diadema and started mobilizing labor groups around Brazil, including holding strikes in the 1970s when Brazil was under military rule. This then led to his imprisonment before getting freed and continued his work as a labor leader.

In 1980, he and other leftist leaders co-founded the Partido dos Trabalhadores (PT), or Workers' Party. Then, in 1982, he added the nickname Lula to his legal name. As it is usually in Brazil, that nickname will become what he will be known for, much like Pele, Ronaldo, Neymar, Ronaldinho, Nene, and other famous Brazilians that are only known by one name.

He first entered politics in 1982, running under PT as a congressman. He lost that election but came back in 1986 to run again and won this time. When his term ended, he did not run for Congressman again but became more embroiled in the Workers' Party. He ran again in 2002, but this time, embracing a more media-friendly image. This then led to him running for president and winning.

He served as president from 2003 to 2010. Under Lula, Brazil became the world's eighth-largest economy, and this led to the country being awarded the right to host the 2016 Summer Olympics. He also championed environmental conservation and indigenous rights as president, and there was a substantial decrease in deforestation starting in 2004 during his term.

However, since he left office in 2010, Brazil has started to decline. Corruption scandals started to plague him and other members of the ruling Workers' Party. He tried running for president again in 2018 but was imprisoned for corruption. However, according to the Canadian Inquirer, he went under a "dubious judicial process, notable for its speed, timing, and lack of tangible evidence."

However, as Brazilians started becoming frustrated with the Workers' Party, the once-fringe far-right leader Jair Bolsonaro began to rise. He won the presidency with Trump-like strategies, often maligning the media and the opposition. His policies were not environment-friendly, favoring big agriculture over maintaining the Amazon rainforest. Recently, though, Bolsonaro is becoming unpopular in Brazil, mainly with his mishandling of the COVID-19 pandemic.

As Bolsonaro started ruling the country, Lula began to rise again. He was released in November 2019 after 580 days of imprisonment when the Supreme Federal Court ruled that the judge who sentenced him was biased. Several more cases against him were deemed null, and on March 8, 2021, Judge Edson Fachin of the Supreme Federal Court declared that all convictions against the former president were not valid. This meant that Lula could run again as president. Polls show he is currently leading against Bolsonaro.

How Much is Lula Worth?

The presidential front-runner came a long way from his roots as a mere factory worker. He may become president again. Though the corruption allegations against him were all dismissed, he is still mired in corruption allegations.

According to Forbes Magazine, there are rumors that the leftist leader is actually a secret billionaire. Allegations state that his son, Fabio Luis Lula da Silva, nicknamed Lulinha, owns a $50 million jet and is one of the owners of the world's largest beef producer, JBS. Lula denied this.

However, Forbes also does not recognize Lula or his son as billionaires and said in an article that "there is no evidence suggesting that Lula is close to becoming a billionaire."

Meanwhile, Lula is also alleged to have plenty of unlisted assets. He is also receiving money for speeches he makes at home and abroad. This includes receiving around $100,000 for a 50 minute-speech to LG in 2011. He was also paid for speeches to other companies like Microsoft and Tetra Pak.

Lula's actual net worth is still disputed by many sources. Some sites like All Famous Birthdays list him at around $1.5 million. However, due to the rumors of his unlisted assets, corruption allegations, and the money he receives from his public speaking engagements, he may be worth far more than that. Right now, his actual net worth remains a mystery, as he may still have much more than what is currently known.

This article is owned by Latin Post.

Written by: Rick Martin

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