Senator Jaques Wagner's wealth grew 630% in eight years

The net worth of Brazilian Senator Jaques Wagner has seen a dramatic increase of 631% over the past eight years, reaching R$ 24.5 million. This growth significantly outpaces the accumulated inflation of 49.4% during the same period. Wagner, who is seeking re-election, declared R$ 3.3 million in assets in 2018.

The most substantial contributor to this surge is a R$ 13.8 million credit resulting from the sale of a 51,000-square-meter plot of land. This land, purchased by Wagner in 2000 for R$ 28,000 (approximately R$ 130,000 in today's value), was sold for R$ 15 million. The property's value appreciated by an estimated 11,400% in real terms over 25 years. The land is situated along the Via Metropolitana, a highway planned and contracted during Wagner's governorship of Bahia.

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The road passed through the route that the engineers found best, it cut a piece of the land, and I said, I will not claim any expropriation.

Wagner has previously stated he waived compensation for the portion of the land affected by the Via Metropolitana's construction, remarking, "It's obvious that everything appreciates over 26 years." However, the transfer of this land was suspended in June by a Supreme Court minister. This action is part of "Operation Compliance Zero," investigating alleged irregularities involving Banco Master, and temporarily froze the senator's assets, halting the negotiation.

Additionally, the Supreme Court has halted the R$ 10 million sale of an apartment owned by Wagner in Salvador's upscale Corredor da Vitória neighborhood. This property was being sold to Marcelo Araújo, the mayor of Conceição do Coité. Wagner's declared assets also include a farm, another apartment, vehicles, and financial investments.

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It's obvious that everything appreciates over 26 years.