The Declaration of Assets (DJP) presented by the president Luis Rodolfo Abinader Corona in 2024 shows a decrease compared to that presented in 2020. In 2024, Abinader declared a total equity of RD$3,972 million, while in 2020 he had reported RD$4,182 million, a decrease of 5%.
In detail, assets in 2024 amount to RD$4,219 million, with liabilities of RD$247 million, compared to RD$4,326 million in assets and RD$143 million in liabilities reported in 2020.
President Abinader, attached to his Affidavit of Assetsattached a notarized document indicating that all the real estate assets that support all of its corporate and trust investments are in Dominican territory; and therefore, they comply with all of their tax obligations in the Dominican Republic.
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Change in the structure of the assets
The difference in amounts is mainly due to a change in how Abinader’s shares in family companies are accounted for. In 2020, these shares were reflected directly, but in 2024 they are reported as part of a family trust created in that same year.
This trust includes retained earnings, newly acquired assets and the purchase of family inheritance rights, which has influenced the reported values.
Increase in liabilities from property purchases
The increase in liabilities in 2024 is explained by the formalization of the purchase of properties in La Julia, which were in process in 2020. These properties were acquired through the trust, which also contracted a loan with the People’s Bank to finance their purchase and remodeling.
Transparency in management
Both the trust and Abinader’s personal financial statements have been audited, and the trust’s income is reported in his tax return. Also, as mentioned above, the President’s salaries are donated to charities.
