Understanding the life and extravagant wealth of Pablo Escobar, the infamous Colombian drug lord, can offer an engaging and eye-opening learning opportunity for students. K-12 teachers have the unique chance to make such historical topics relevant to modern-day life while instilling important financial literacy lessons in their students.
To begin, provide students with a brief overview of who Pablo Escobar was and his significance in world history. Highlight his rise to power as the leader of the Medellín Cartel in the late 20th century, which led to an unimaginable fortune. At the height of his power, Escobar’s net worth was estimated to be around $30 billion, making him one of the wealthiest people in history.
In order to help students, comprehend the sheer magnitude of this fortune, ask them to imagine what they could buy with $30 billion. Outline common expenses like food, clothing, cars, and housing to provide context for how far that amount of money would stretch. Compare this figure with the net worth of other known figures such as Bill Gates or Elon Musk so they can better gauge wealth disparities. This exercise will not only keep students engaged but will also introduce them to valuable financial concepts like budgeting and savings.
Next, organize group discussions centered on ethical questions surrounding wealth accumulation and income inequality. By using Pablo Escobar’s story as a backdrop, educate students about how large sums of money can be acquired through both legal pathways (i.e., entrepreneurship) and illegal means (i.e., narcotrafficking). Discuss societal values and morals that guide people’s choices when it comes to amassing fortunes.
Finally, discuss consequences faced by individuals who chose illegal means for accumulating wealth. In the case of Pablo Escobar, despite his vast fortune, he ultimately led a violent and dangerous life before being killed by Colombian authorities. Emphasize that while wealth may offer material benefits, it can come at a significant personal cost if attained unethically.
By using Pablo Escobar’s compelling net worth story, teachers can actively engage students in vital financial literacy lessons. Hands-on activities, group discussions, and critical thinking exercises will not only teach students about the value of money but also promote responsible decision-making when it comes to their own financial futures.
