Francis Suarez Net Worth 2022 – How Rich Is Miami Mayor?
Being mayor of a major international city is certainly a glamorous job, but generally there is nothing glamorous or dramatic about the salaries of those who hold the position. Typically, they’re on the boilerplate side, and being mayor of a big city is generally considered a stepping stone job.
Francis X. Suarez is definitely an exception to the role. Whether serving as mayor of Miami is a stepping stone for him is still highly uncertain, but there is no doubt that he had taken a highly unusual approach to collecting his estimated salary of $150,000 to $200,000.
Why? Suarez took the equivalent of his paycheck in Bitcoin, a risky approach given Bitcoin’s price volatility. As of 2022, Francis Suarez has an estimated net worth of $5 million.
Suarez’s belief in Bitcoin isn’t the only information regarding his political background. He is also Miami’s first mayor to actually be a native of the city. Her aunt, Lala, is also the mother of Congressman Alex Mooney from West Virginia. The fact that Frank ended up in politics is therefore not really surprising.
Suarez did his undergraduate education at Florida International University, earning a degree in finance before earning his law degree from the University of Florida.
He then worked for the law firm Greenspoon Marder, where he specialized in corporate and real estate transactions.
The 45-year-old Suarez began his political career in 2009 when he became District 4 commissioner, but had to win a tight ballot to get the job.
He became mayor of Miami in 2017 and his record has been controversial. Suarez has received praise for his program to protect Miami from rising seas that are part and parcel of the ravages of climate change.
He also wants to cut taxes for Miami residents, saying MiamiCoin could help fund the city’s coffers. Given the sweeping nature of this proposal and the recent crypto market crash, it is no surprise that the crypto project is very ambitious.
He says he’s not forcing anyone when it comes to defending a city coin, but many of his political opponents would strongly disagree.
Suarez also took heat for his position as a Republican. He voted against current Gov. Ron DeSantis, and he didn’t vote for Donald Trump in the 2020 presidential election either. Suarez claims to be nonpartisan, but those same opponents would likely call him a RINO.
Either way, Suarez remains popular in the city he continues to lead. He won his last election with almost 80% of the vote and continues to dominate local popularity polls.
As flamboyant as many of his opinions are, Suarez keeps his personal life quiet. He is married to Gloria Fonts Suarez, also a Miami native raised by Cuban immigrants, and the couple have two children.
As for his current net worth, it is difficult to estimate a precise figure. Before the crypto crash, he was reputed to be worth $5 million, but it’s safe to say he could have taken a hit.