Juan Carlos Escotet’s profile picture

Juan Carlos Escotet

Juan Carlos Escotet’s profile picture
Net worth 2018: $4.43 Billion
Residence: Caracas, Venezuela
Country: Venezuela
Children: 4
Education: Master, University of Miami
BIOGRAPHY

Juan Carlos Escotet was born in Caracas, Venezuela, Venezuela. Juan Carlos Escotet is #481 in List Billionaires People In The World. Juan Carlos Escotet is the founder of Caracas-based banking group Banesco. In 2013, Banco Etcheverria, the 300-year-old Spanish bank for which Escotet paid around $90 million in 2012, bought Spanish bank Abanca for $1.3 billion. Banesco also has arms in Panama, the Dominican Republic, Puerto Rico, Colombia and the United States, and owns Banesco Seguros, an insurance company that operates in Escotet's home country, Venezuela. He began working as a messenger for Banco Union when he was 17 while studying economics. In 1986, he founded Casa de Bolsa Escotet Valores, a brokerage house. He added banking services in 1991, and over the years expanded to offer insurance. In 2001, he merged his bank with Banco Union, where he'd started his financial career. Escotet enjoys running and aquatic sports. He has four grown sons, all of whom work with their father at Banesco.

NET WORTH STATISTIC
2013

$1.4 Billion

2014

$1.5 Billion

2015

$3.3 Billion

2016

$3.7 Billion

2017

$3.7 Billion

2018

$4.43 Billion

TIMELINE
2000

Escotet founded Banesco and in 2000, merged Banco Union with his company

1990

In the 1990s, Escotet gathered enough money to buyout Venezuelan financial institutions going through the banking crisis and set up his own Panama establishment

1976

Escotet, one of eight immigrant children from Spain, first began to work doing errands for a bank in Venezuela in 1976

1959

Juan Carlos Escotet (born 1959) is a Venezuelan billionaire banker and the founder of Banesco

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