Bukele's inner circle amasses millions as El Salvador's wealth gap widens

El Salvador's president, Nayib Bukele, who rose to power promising to champion the poor, is now at the center of a burgeoning circle of millionaires. His press secretary, Ernesto Sanabria, exemplifies this shift, with his declared assets soaring from $269,884 in 2019 to over $2 million by 2026. This dramatic increase mirrors a trend among Bukele's close advisors and family members.

Investigations by El Pais reveal that Bukele and his family acquired 34 new properties, increasing their land holdings twelvefold to a value exceeding $10 million within seven years of his presidency. Héctor Dada, a former Economy Minister, notes that Bukele, unlike old oligarchs, came from a family of failed businesses but has since become an elite figure, replacing the old guard with new players in bitcoin and AI.

Bukele's own net worth has surged by 363%, from $964,546 in 2012 to $4,466,478 as of May 2026. This wealth expansion is not isolated; at least 21 out of 75 public officials analyzed by El Pais have seen their fortunes grow by up to 713% in a similar timeframe. Among those benefiting are presidential cabinet chief Carolina Recinos, Commerce Secretary Miguel Kattán, and Central Reserve Bank president Douglas Rodríguez.

Kattán, reportedly the president's uncle, saw his wealth climb from $403,620 to $3.9 million, largely attributed to a $3.1 million loan. Recinos' net worth increased from $182,945 to $1.3 million, while Rodríguez's assets grew from $153,130 to $1.3 million. The article points to lax tax audits and questionable loans as facilitators of this new wealth, creating a new elite class under Bukele's administration.

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Unlike the old oligarchs, Bukele does not come from a noble family or big business; in fact, his family ran several failed companies. But once in power, he himself became part of the elite and replaced the old millionaires with new actors, such as bitcoin entrepreneurs and artificial intelligence agencies.