Dr. Lazarus Chakwera is the current president of Malawi as well as the Minister of Defense. He is also a theologian and a former opposition leader.
Let’s take a look at Lazarus Chakwera’s net worth, how he earned his money, and how he is spending it.
What is Lazarus Chakwera’s net worth?
Although different sources quote different values as Lazarus Chakwera’s net worth, in 2020 shortly after ascending to power, Lazarus Chakwera declared his wealth and his net worth was estimated to be about K272 million.
Lazarus Chakwera’s net worth is a cumulative sum of all his assets minus all his liabilities. He has accumulated this impressive net worth over the years through his career in politics and theology, inheritance and acquired assets.
Here is how Lazarus Chakwera earns his millions.
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Lazarus Chakwera’s salary
As the president of Malawi, Dr Lazarus Chakwera pockets a salary of about $74,300 K60,409,497 annually which roughly translates to a monthly salary of about $6,192 or K5,034,396.
As one of the highest-paid presidents in Africa Lazarus Chakwera’s net worth is greatly contributed by his salary.
Before becoming the president of Malawi, Chakwera also served in the Assemblies of God's School of Theology as an instructor, and he also served as the Principal from 1996.
He has also been a lecturer at the All Nations Theological Seminary and president of Malawi Assemblies of God which he served up to 2013 when he resigned to run for the country’s top seat.
All the salaries he earned from his different employment capacities helped to build up Lazarus Chakwera’s net worth.
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Lazarus Chakwera’s assets
Among the properties that Lazarus Chakwera declared in 2020 include a farm in his Malembo village in Lilongwe which he inherited from his family, a plot of land at Nyangulu Village, and another piece of land Salima purchased at K1 million from his gratuity.
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Lazarus Chakwera’s net worth affords him certain luxuries in life including driving expensive cars.
Here are some of the cars that are owned by Lazarus Chakwera.
Mercedes Benz saloon
- Range Rover
- Isuzu truck
- Toyota Hilux single cab
- Toyota Prado TX
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Lazarus Chakwera’s house?
Although he currently resides at the State House, Lazarus Chakwera owns a private mansion which allegedly cost him around K650 million.
The house is part of his investments that attribute to Lazarus Chakwera’s net worth.
Is Lazarus Chakwera the richest man in Malawi?
Although Dr. Lazarus Chakwera’s net worth is impressive, he is not the richest man in Malawi, or amongst the top 10 richest people in Malawi.
Some of the names that made the cut in the list of the richest people in Malawi include Thom Mpinganjira, Shepherd Bushiri, Simbi Phiri, and Jimmy Korea Mpatsa.