Joaquín Guzmán Loera: Cocaine King and Forbes Billionaire
Joaquín Guzmán Loera: Cocaine King and Billionaire
Mexico’s most wanted man, Joaquín Guzmán Loera, is one of 38 new billionaires.
For eight years Joaquín Guzmán Loera reportedly managed his international drug smuggling operation from behind bars while enjoying a lavish prison life with access to booze, women and a home entertainment system. Then in January 2001, facing extradition to the U.S., Guzmán slipped into a laundry cart and escaped.
Since then “El Chapo,” or Shorty, as he is called, has tightened his grip on Mexico’s drug trade as head of the Sinaloa cartel, one of the biggest suppliers of cocaine to the U.S. It is a lucrative business to be in these days. Thirty-five million people in the U.S. use narcotics or abuse prescription drugs, spending more than $64 billion annually. The Drug Enforcement Agency and other industry experts believe Guzmán, 54, has controlled anywhere from a third to half of the wholesale Mexican drug market over the past eight years. In 2008 Mexican and Colombian traffickers laundered between $18 billion and $39 billion in proceeds from wholesale shipments to the U.S., according to the U.S. government. Guzmán and his operation likely grossed 20% of that–enough for him to have pocketed $1 billion over his career and earn a spot on the billionaires list for the first time.
I normally dislike corporate CEO’s. But this guy is a great businessman that actually delivers. So to speak.
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