MIAMI — Francis Suarez’s net worth ballooned to $3.4 million in the year following his re-election for a second term as mayor of Miami, according to newly released financial disclosures filed with the city detailing the mayor’s personal finances in 2022.
That makes 2022 the second year in a row that Suarez has more than doubled his net worth, which records show had been in the negative numbers in his early years in office. A part-time mayor, Suarez’s net worth reached seven figures for the first time in 2021 as he used his public office to court tech companies and other private investors while taking jobs in those same industries, raising ethics concerns that the mayor is using his public office for personal profit.
Although he is not required to disclose his income from outside work, the most recent city filing — which provides a snapshot of the mayor’s assets and liabilities as of the end of 2022 — suggests Suarez made enough money last year to pay off $1.7 million in previously disclosed debt. He also bought a condo on Flagler Street, and reported owning a $235,000 boat, which wasn’t listed on previous disclosures.
