Joe Carollo is a Cuban-American politician who has served multiple controversial terms as the mayor of Miami, earning him nicknames like “Crazy Joe” and “Loco Joe.”
He has been involved in numerous scandals and legal issues throughout decades in politics, which have likely impacted his net worth.
While Carollo’s exact net worth is not clearly disclosed, estimates place it at around $2.3 million as of 2023.
Joe Carollo Bio
|Full Name||Joseph “Joe” Carollo|
|Birthday||March 11, 1955|
|Age||68 years old|
|Birth Place||Havana, Cuba|
|Residence||Miami, Florida, USA|
|Spouse||Married and divorced twice|
|Children||2 daughters from first marriage|
|Education||Barry University, law degree|
|Net Worth||Estimated $2.3 million|
|Salary as Mayor||About $118,000 annually in late 1990s|
|City Commission Salary||Ranged from $58,000 to $92,000|
|Profession||Politician, Former Mayor of Miami, Miami City Commissioner|
Overview of Joe Carollo’s Political Career
Joe Carollo was born on March 11, 1955 in Cuba. His family immigrated to the United States in 1960 to flee the revolution led by Fidel Castro. Carollo became involved in Miami politics at a young age.
In 1979, at just 24 years old, Carollo was elected to the Miami City Commission. He quickly gained a reputation for combativeness and erratic behavior. Throughout his political career, he has been accused of corruption, racism, domestic abuse, and more.
Carollo served multiple tumultuous terms as Mayor of Miami:
- 1996-1997 (won special election)
- 1998-2001 (reinstated after disputed election, then lost re-election bid)
He also unsuccessfully ran for mayor in other years. Carollo later served as City Manager of Doral, Florida from 2008 to 2014.
In 2017, Carollo returned to the Miami City Commission as the representative for District 3, where he continues to spark new controversies.
How Did Joe Carollo Earn His Money?
As a long-time Miami politician, Joe Carollo has earned income from his City Commission salaries and mayoral salaries over multiple decades.
His annual salary on the City Commission ranged from around $58,000 to $92,000 based on public records.
During his tenure as Mayor of Miami in the late 1990s, Carollo had an annual salary of about $118,000.
Carollo likely earned a six-figure salary as City Manager of Doral from 2008 to 2014 as well.
In addition to his political career, Carollo co-founded a consulting firm called Interamerican Consulting in 1980. The company provided consulting services related to business, politics, and trade in Latin America.
It is unknown how much income Carollo has earned from Interamerican Consulting. However, it likely provided additional revenue outside of his government salaries over the years.
Carollo also owns various real estate investments and properties. Records show he has bought and sold properties in areas like Miami Beach, Coral Gables, Key Biscayne, and Pinecrest.
Owning lucrative Miami-area properties has probably contributed significantly to Carollo’s net worth over time, through home price appreciation.
Lawsuits and Controversies Impacting Carollo’s Finances
While Joe Carollo has earned substantial income as a career politician, his finances have also been impacted by the many controversies and lawsuits surrounding him.
Domestic Abuse Arrest
- In 2001, Carollo was arrested on domestic abuse charges over an altercation with his wife at the time. The charges were eventually dropped.
- The arrest and case likely cost Carollo significant lawyer fees as well as reputational damage.
Ballot Fraud Lawsuit
- Carollo sued after losing the 1997 Miami mayoral election, alleging ballot fraud.
- After a long legal battle, he was reinstated as mayor in 1998, but the litigation process was undoubtedly costly.
Homeless Encampment Ordinance Lawsuit
- In 2021, a lawsuit challenged Carollo’s ordinance banning homeless encampments in Miami.
- The ACLU of Florida argued the ordinance led to unlawful destruction of homeless residents’ property.
- While this lawsuit is still ongoing, Carollo could ultimately owe monetary damages if found liable.
Civil Trial Verdict
- In 2023, a court found Carollo liable in a civil trial and ordered him to pay substantial compensatory and punitive damages.
- This major judgment could significantly impact Carollo’s net worth unless overturned on appeal. The total amount of damages has not been publicly disclosed yet.
Highlights of Joe Carollo’s Net Worth & Assets
While the exact details remain unclear, here are some highlights on Joe Carollo’s finances and assets:
- Net Worth Estimate: Approximately $2.3 million as of 2023, per multiple online estimates.
- Annual Salary on City Commission: Ranged from around $58,000 to $92,000.
- Mayoral Salary: About $118,000 per year in late 1990s.
- Doral City Manager Salary: Likely a six-figure income from 2008 to 2014.
- Real Estate Investments: Has bought and sold properties in wealthy Miami-area neighborhoods.
- Interamerican Consulting: Cofounded firm in 1980 that provided political and business consulting related to Latin America.