Michel Martelly Net Worth
Michel Martelly has an estimated net worth of $35 million. Michel Martelly is a politician, musician, and businessman from Haiti. He is the current President of Haiti. Martelly, better known by his stage name “Sweet Micky,” was one of Haiti’s most popular musicians for over a decade. In addition to his political career, he earns the majority of his income from business endeavors and music royalties.
He rose to prominence for his work in the Haitian compas style, a type of dance music with Creole lyrics. Later in his musical career, Martelly was a club owner for a short time and became involved in Haitian politics. Martelly supported the coup against Jean-Bertrand Aristide, and when Aristide reclaimed the presidency four years later, Martelly stayed away from Haiti for nearly a year.
In 2010, he entered the Haitian presidential election as the candidate of the Repons Peyizan (Farmers’ Response Party).
Martelly’s election marked Haiti’s first peaceful transfer of power from one party to another. Martelly’s first priority as president was to reintroduce the military, which had been banned by Aristide. Martelly also formed a coalition with other world leaders, including former President Bill Clinton of the United States, to support Haiti’s fiscal growth and stability.
Later in his presidency, Martelly was accused of corruption. Some Haitian protesters have called for Martelly’s resignation, citing his leadership.
To calculate Michel Martelly’s net worth, add up all of his assets and subtract his debts, also known as liabilities.
Michel Martelly’s assets include everything he owns, such as the amount of money in his checking or savings account, real estate equity, savings and investment plans, and items with a clear market value (car, jewelry, clothes, art, etc.).
All outstanding debts, including the remaining balance on his home, car, business or personal loan, credit card debt, back taxes, and anything else he still owes, are included in his liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$30 Million|
|Monthly Salary:||$10 Thousand|
|Annual Income:||$4 Million|
|Source of Wealth:||Politician, Musician, Businessman|
Michel Martelly was born to a middle-class family in Port-au-Prince on February 12, 1961. His father was a Shell Oil executive, and his maternal grandfather was a comic troubadour who wrote both political protest songs and apolitical music.
Martelly graduated from Saint Louis de Gonzague High School before enrolling in the Haitian Military Academy, where he was promptly expelled.
Martelly moved to Miami, Florida, in 1984, to attend college and work in construction.
He returned to Haiti for a year in 1986, having completed only one semester of university, around the time of President Jean-Claude Duvalier’s exile.
Martelly returned to Haiti in 1988 after another stint in Miami. In Port-au-Prince, he began playing the keyboard around this time.
Martelly released his first single, ‘Ooo La La,’ in 1988, and it became a national hit.
Following the Haitian coup d’etat in 1991, Martelly continued to perform in Port-au-Prince suburbs such as Petonville and Kenscoff, gaining many fans among the coup’s supporters.
Between 1988 and 2008, he released fourteen studio albums and a few live CDs as Sweet Micky.
Martelly performed at a protest against the arrival of the UN representative who was supposed to orchestrate Aristide’s return to power in Haiti in 1992.
Following Aristide’s reinstatement as President in 1995, Martelly’s name appeared on a “hit list” of known Aristide opponents, prompting him to remain abroad on tour for nearly a year.
In 1997, Martelly became involved in various forms of social activism and aid, including working on an educational music video program aimed at combating AIDS called ‘Knowledge is Power’ and establishing the Rose et Blanc Foundation to combat poverty in Haiti.
Gerard Latortue, a friend of Martelly, became Prime Minister after the coup in 2004.
Martelly returned to Haiti from Miami, where he had been living with his family, in 2007. He lost three properties and had to default on over $1 million in loans as a result of the move and the financial downturn.
Martelly ran for Haitian president in 2010, making it to the runoff after contesting the first count.
Martelly’s election was declared on April 4, 2011, and he defeated his opponent, Mirlande Manigat, with 60 percent of the vote.
Martelly was sworn in as Haiti’s president on May 14, 2011, and the following day, Prime Minister Jean-Max Bellerive resigned, allowing Martelly to appoint a Prime Minister for his administration.
To mixed reactions, he unveiled his plan to reestablish the Haitian military in August 2011.
Martelly collaborated with a group of business executives, bank managers, and politicians, including Bill Clinton, to develop a plan to jumpstart Haiti’s economy in September 2011.
He was charged with accepting a bribe in exchange for awarding a contract to a Dominican Republic construction company in April 2012.
Senate elections were postponed in May 2012 until October 26, 2014, and then again indefinitely. This sparked widespread public outrage. Many of the protests were directed at Martelly for allowing the continuous postponement.
Protesters descended on Port-au-Prince on January 17, 2015, to protest the dissolution of Parliament and the president’s resignation.
Awards & Achievements
Martelly was awarded the Grand Cross with Gold Breast Star of the Dominican Republic’s Order of Merit of Duarte, Sanchez, and Mella in March 2012.
Personal Life & Wife
Martelly married his then-girlfriend, Sophia Saint-Remy, in Miami, Florida, in 1987. Olivier, Sandro, Yani, and Malaika are the couple’s four children.
Martelly claims that as a young man, he was expelled from the Haitian Military Academy for allegedly impregnating the goddaughter of a general.
Martelly is related to Richard Morse, another Haitian musician who also works as a hotel manager.
One of Martelly’s trademarks as a musical performer was his flamboyant style, which included regularly dressing in drag or partially stripping onstage.