Adorni asset declaration shows wealth grew 45-fold in 2024

Cabinet Chief Manuel Adorni continues to weather one of the worst crises to hit President Javier Milei's government – one in which he himself is the main protagonist.

The recent filing of his 2025 sworn asset declaration (DDJJ in the Argentine acronym), alongside amendments to those submitted for 2023 and 2024, raised more questions than it answered, not least because the annex covering his wife, Bettina Angeletti, has yet to be submitted.

Angeletti has also come under scrutiny over her role at the BE+ consultancy firm, whose ties reportedly extend to Presidential Chief-of-Staff Karina Milei and her right-hand woman, Mara Gorini.

Adorni’s new filings show that in 2024 alone, his net worth multiplied 45-fold. That jump stems from the inclusion of US$513,000 in savings – a sum he had not declared in 2023 – along with Bitcoin holdings and a foreign-currency account abroad holding a comparatively modest US$6,220.23.

According to the documents, by the end of 2024, his holdings of US dollars within the country had fallen, though the declaration included the purchase of a house in the Indio Cuá gated community and a 2021 Jeep Compass.

It was only in the 2025 declaration that the now-famous 199.7-square-metre apartment on Miró Street in the City neighbourhood of Caballito appeared — described as an "investment" and acquired using his own funds together with a loan.

Between 2023 and 2025, Adorni's net worth grew by close to 2,300 percent, rising from 25,692,548.99 pesos in his original 2023 declaration (later amended) to 627,262,332.77 pesos in the 2025 filing. Adjusted for inflation, that works out to real growth of around 415 percent.

Adorni's filings for 2024 show his net worth rising from an opening 12,434,833.66 pesos to 570,206,623.12 pesos. The inclusion of funds tied to cryptocurrency investments, Bitcoin in particular, accounts for the more than 40-fold increase recorded in the Cabinet coordinator's amended declaration.

There is concern within the Casa Rosada. Initial World Cup fever has failed to drown out the Cabinet chief's scandals and Adorni has scaled back his public agenda sharply as he finds himself increasingly targeted – not just by the opposition, but from within the government as well.

Although those close to the Cabinet chief insist the Milei siblings' support for him remains firm, the government's political leadership is working to head off a Senate session at which the Peronist caucus will push for a motion to summon him for questioning.

Adorni's weakened standing has not led the President to ease his "war" on the press in the slightest.

"The coups are no longer military, they are media coups. First they impose the verdict. Then they look for the evidence," President Milei wrote this week on social media, sharing a post from a libertarian social media user.

The post was set to a song attacking the press and featured the faces of various journalists who have fallen out of presidential favour.

President Milei shows no sign of backing down and Adorni is set to attend the Flag Day celebrations in Rosario on June 20.

Adorni's strategy is clear, and it was on display last week in his interview with the LN+ news channel: to be seen by the courts as a tax evader rather than as "corrupt" and wealthy through illicit enrichment – the offence he is actually under investigation for.

It also remains unclear why the annex covering his partner, Angeletti, has not been filed.