Salvador “Sal” Magluta is a Cuban immigrant who came from quite humble beginnings before he managed to turn his life around as a drug kingpin. As mentioned in Netflix’s ‘Cocaine Cowboys: The Kings of Miami,’ his parents operated a Jewish-Cuban bakery in the Miami-Dade County area when he was young, making him discern that he desperately wanted more. Instead of poverty, pain, and struggle, he craved and thus worked towards money, power, and success. Eventually, Sal became one half of “Los Muchachos” and achieved illicit wonders. So, let’s find out his net worth.
How Did Salvador “Sal” Magluta Earn His Money?
Sal Magluta was a simple pot pusher operating out of Miami High with his best friend, Augusto “Willy” Falcon, before they both dropped out in favor of pursuing the drug trade full-time for some easy cash. Slowly, they built connections and worked together to realize that they both have their own specialty. While Willy was great with people owing to his jovial nature, Sal handled the back-end of the business, including negotiations, accounting, money-handling, and much more. It has been speculated that Willy rarely knew about their earnings, yet the duo still backed each other.
In the late 1970s and early 1980s, Sal and Willy managed to get hold of an empire with direct contacts to renowned Colombian cartels, but they took it to another level. When he was captured, Jorge Valdes had quickly given them his business, unaware that they’d cut him off while he hoped it’d be mutually beneficial. Yet, Sal and Willy continued to drive the cocaine trade for over 15 years. During this time, the duo and their crew were smuggling the drug to Miami, New York, Los Angeles, Washington DC, and numerous other cities while earning hundreds of thousands in proceeds.
With the cash he didn’t hide away within the ground or in storehouses, Sal opened offshore bank accounts to launder profits, freely gave back to his community, and then invested the remaining for further gains. From speed boat racing to construction firms to deluxe real estate, he spent his money on everything. Ultimately, though, his offenses caught up to him in 1991 in the form of a federal indictment and October arrest. Following this, the US Marshals Service seized more than $16 million in properties owned by Sal and Willy, along with cash, jewelry, and additional assets.
Salvador “Sal” Magluta’s Net Worth
In court, prosecutors asserted that Salvador Magluta and his organization trafficked at least 75 tons of cocaine into the United States over the years to amass an estimated $2 billion in cash and assets. However, because of the legal proceedings and seizings, we understand that Sal’s accumulated net worth has reduced significantly. After all, in 2003, when he was found guilty of the many charges against him, he was not only given a 205-year prison sentence but was also ordered to pay a $63 million fine. Considering everything, Sal’s net worth should be close to $500,000.
Read More: Where is Salvador “Sal” Magluta Now?