The 10 Richest People in Puerto Rico
As of 2021, there are an estimated 2,755 billionaires on Earth. Truth be told, not a lot of them live in Puerto Rico, but that might be a situation that's about to change.
Over the past decade or so, more and more wealthy business people have been flocking to the island's shores, drawn by the very advantageous tax breaks and abundance of financial incentives. Here, we take a look at the country's biggest movers and shakers as we count down the 10 richest people in Puerto Rico.
10. Roselyn Sánchez Net Worth: $14 Million
Roselyn Sanchez is a singer-songwriter, model, actress, producer, writer, and, if the latest estimates are right, a very rich woman. Having achieved success in TV shows such as "Without a Trace" and "Devious Maids," the Puerto Rican-born star is now worth a massive $14 million.
9. Rita Moreno Net Worth: $25 million
Rita Moreno is an actress, dancer, and singer whose career spans more than 70 years. Some of her most notable roles have come in "Singin' in the Rain," "The King and I," and "West Side Story." According to Wikipedia, she's one of the very few artists to have won all four major annual American entertainment awards: an Emmy, a Grammy, an Oscar, and a Tony. Now aged 89 years old, she's worth a reported $25 million.
8. Wisin Net Worth: $40 million
Wisin first achieved success as part of a duo alongside his school friend Yandel. They released their debut album in 2000. Five years later, they made the jump to the mainstream with "Mi Vida... My Life." After several years of success, the pair went into hiatus in 2013, eventually coming back together in 2018 to release their tenth studio album. In the years between, Wisin released several commercially successful albums and achieved TV stardom via his role as a coach on the Spanish-language version of "The Voice." Today, he's worth an estimated $40 million.
7. Daddy Yankee Net Worth: $40 Million
Daddy Yankee ranks as the 7th richest person in Puerto Rico. As a kid, he dreamt of becoming a professional Major League Baseball player. When he got shot in the leg after getting caught up in a barrio gun battle, he gave up his sporting ambitions and turned to music.
It's fortunate for his bank balance he did. Over the past couple of decades, the "King of Reggaetón" has become one of the most successful Latin music artists of all time, selling over 20 million records worldwide. According to Celebrity Net Worth, he's now worth the phenomenal amount of $40 million.
6. Benicio del Toro Net Worth: $45 million
In 1989, a 21-year-old Benicio del Toro became the youngest ever actor to play a Bond henchman in the film "License to Kill." Seven years later, he made his breakthrough as the wisecracking Fred Fenster in "The Usual Suspects." Since then, his career has gone from strength to strength, earning him huge critical acclaim, numerous awards, and, as of 2021, a $45 million fortune.
5. Iván Rodríguez Torres Net Worth: $65 million
Up next is Iván Rodríguez Torres, a Puerto Rican former Major League Baseball catcher who built his career with the Texas Rangers, Florida Marlins, Detroit Tigers, New York Yankees, Houston Astros, and Washington Nationals.
Widely considered one of the best catchers of all time, he set numerous records during his career. In 2017, his achievements were recognized when he was inducted into the National Baseball Hall of Fame and Museum. According to therichest.com, he's now worth the phenomenal net worth of $65 million.
4. Peter Schiff Net Worth: $70 Million
American stockbroker and financial commentator Peter Schiff moved his asset management firm from Newport Beach, California to San Juan, Puerto Rico in 2013. He's part of a growing wave of rich US citizens who've come to benefit from the island's generous tax breaks.
"I'm saving a lot of money," he's said. "It's the closest thing to renouncing your U.S. citizenship without actually doing it...You're still an American, you're just out from under the IRS." His strategy has clearly paid off - his personal fortune has now grown to a whopping $70 million.
3. Ricky Martin Net Worth: $120 mullion
Since launching his solo music career in 1991, Ricky Martin has sold over 70 million records, becoming one of the most commercially successful Latin music artists of all time in the process. Known as the "King of Latin Music," he's credited with bringing Latin pop to the US mainstream with singles such as "The Cup of Life," and "Livin' La Vida Loca."
In addition to his music career, he's also won accolades for his stage and TV work, most recently in the miniseries "The Assassination of Gianni Versace: American Crime Story," which earned him a nomination for the Primetime Emmy Award for Outstanding Supporting Actor in a Limited Series or Movie.
A prominent philanthropist, his commitment to eliminating human trafficking across the Caribbean and his ongoing support of the people of Puerto Rico was recognized in 2018 when June 7 was named Ricky Martin Day in New York City. The singer is now worth an estimated $120 million.
2. John Paulson Net Worth: $6 Billion
Over the past decade, American businessman John Paulson has poured billions into buying up hotels, resorts, and office buildings in Puerto Rico, claiming that "Puerto Rico will become the Singapore of the Caribbean." He's also bought a vacation home and an apartment, signaling a long-term investment in the island that goes beyond business.
His fortune comes from Paulson & Co, an investment management firm he founded in 1994. In 2007, he transformed from a middling money manager into one of the most prominent names in finance when he made $4 billion using credit default swabs to bet against the U.S. subprime mortgage lending market. Today, he's worth $6 billion.
1. Orlando Bravo Net Worth: $6.3 Billion
Orlando Bravo is the first Puerto Rican-born billionaire. Described by Forbes as "Wall Street's hottest dealmaker," Bravo has made his fortune as the founder and managing partner of Thomas Bravo, one of the top private equity firms in the world. Since 2003, the company has completed 230 software deals worth over $68.
It currently employs over 40,000 people and oversees a portfolio of 38 companies that generate around $12 billion in annual revenue. A noted philanthropist, Bravo has committed $100 million to promote entrepreneurship in Puerto Rico. Following the wake of Hurricane Maria, he donated $10 million to aid efforts. As of 2021, he's worth $6.3 billion.
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Written by Allen Lee
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