Forbes and drug lord Pablo Escobar

Corinne Jurney of Forbes writes about Colombia drug lord Pablo Escobar, who was in its billionaires list from 1987 to 1993, and the reporter who estimated his wealth.

Jurney writes, “Escobar made the list each year from 1987 to 1993. Throughout this seven year span, the magazine recounts his unrealized political ambitions, wildly exorbitant purchases, bouts on the lam and cushy incarceration. What’s especially notable however, is that FORBES predicted the fugitive’s death the very year his life would end atop a roof in a violent gunfight with police.

“Forbes staffer Pablo Galarza wrote on July 5, 1993:

“Escobar was dead by the close of the year.

“‘I remember that my family was scared he might come after me for even mentioning him, he was such a notorious figure,’ said Galarza.

“In 1987, FORBES published its first international billionaires issue, now an annual list updated in real time, and estimated his wealth to be at least $3 billion. But by his final haunting mention in the mag, his net worth depreciated 67 percent, to an estimated $1 billion. Hardly a measly sum when compared to the $11 million bounty offered for his capture. Galarza, who now works for a New York-based startup, said the DEA helped FORBES approximate Escobar’s net worth.”

Read more here.