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The businesses and fortune of Rodolfo Hernández

Rodolfo Hernández’s annual taxation is about $7,000 million.

Photo: Ricardo Maldonado Rozo

Rodolfo Hernandez Suarez The candidate for the presidency of the League of Anti-Corruption Governors —who has surprised by his rebound in recent polls— is described by many as “the Colombian Donald Trump”, since he resembles in his character, hair style and the unusual passion that mixes business with politics.

Born in 1945 in the municipality of Piedecuesta (Santander), Hernández is recognized for his business in the real estate sector, which arose after his training as an engineer at the National University and on the land of his mother’s mill (who previously had a tobacco factory called Montecarlo).

As described in La Silla Vacía, around the 1970s two merchants from Zapatoca (Abelardo Serrano Tello and Guillermo Gómez) who lived in Piedecuesta proposed to Hernández the business of building five houses. They would provide the capital and the engineer the work. In ’72 he married Relief Oliveros and that same year they founded Constructora Hernández, Gómez and Serrano. “We had a profit of 60 thousand pesos, like 200 million today. That was cocaine!” the media outlet quoted the candidate.

Today this company is known as HG Construction (the ‘H’ for Hernández and the ‘G’ for Gómez, who passed away and the engineer decided to keep it as a tribute. The surname “Serrano” disappeared a year after the foundation, as Abelardo decided to retire due to a lawsuit.

According to information contained in the Single Business and Social Registry (RUES), under the name of Constructora HG, companies appear in Pasto, Peñol, Bogotá, Medellín, Barranquilla, Villavicencio, Tolú and, of course, Bucaramanga. In the name of his wife, who is in charge of managing this firm, there are also companies (with canceled commercial registration) related to real estate activities and retail trade of food (groceries in general), beverages (alcoholic and non-alcoholic) and tobacco.

It is estimated that currently Hernández has been behind the construction of almost 20,000 housing units in the country and, according to La Silla Vacía, the assets of these companies exceed $119,000 million and with profits of about $17,000 million.

In conjunction with the Construction business, HG also provides real estate and investment services (mortgage credits). In fact, it is believed that this last line of business was the one that catapulted Hernández in the 1990s with the well-known crisis of the Constant Purchasing Power Unit (UPAC), which not only frustrated the dream of owning a home for millions of people , but led to suicide in some 2,000, according to estimates by the Anupac association).

Basically, Hernández saw an opportunity in this problem, since he began to notice that most people could not pay for their houses (due to the high interest rates in the traditional banking system), so he created a financing system called Plan 100 , which consisted of mortgage loans at 100 installments.

In an interview with Revista Semana, Hernández said that his capital is US$100 million (almost $400,000 million) and that he pays about $20 million pesos every day (including Saturdays and Sundays), for which his annual taxes exceed $7,000 million.

With such a number, it is not surprising why the candidate assured days ago that, if elected, he would donate his entire salary.

Now with the support of Ingrid Betancourt, the engineer aspires to occupy the Casa de Nariño, this in the midst of an investigation against him on an alleged case of corruption during his administration in Bucaramanga. “I did not steal a peso, on the contrary, I took the rat’s nest out of the mayor’s office,” Hernández defends himself.

According to the information reported in Cuentas Claras, the engineer’s campaign has had financing for more than $4,137 million, of which $4,000 have come from credits from the financial sector. His expenses, at the moment, are close to $ 3,000 million.

Fortune and now power. How good can this combination be for Rodolfo Hernández and for the country?

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Source: Elespectador

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