• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsLatin America

Peru’s president undaunted by 9% approval rating, but she still refuses to explain $15,000 Rolex

By
Marcelo Rochabrun
Marcelo Rochabrun
and
Bloomberg
Down Arrow Button Icon
April 1, 2024, 8:07 PM ET
Dina Boluarte
Peru President Dina Boluarte.Sebastian Castaneda—Bloomberg/Getty Images

Dina Boluarte is discovering the risks of leading a country that jails ex-presidents so often that it built a special prison to hold them.

Recommended Video

Just a year into Boluarte’s term as Peru’s president, about 80% of voters wanted her gone. That was before a scandal erupted over how exactly she came to own a collection of luxury goods, including a Rolex wristwatch she has sported at public events.

Now, as Boluarte battles allegations of corruption, her approval rating stands at 9%. But she has found a crucial pillar of support in an equally reviled institution: Congress.

An Ipsos poll last month showed the splintered parliament faces almost identical ratings — 9% approval and 85% rejection by the public.    

Congress now seems likely to back Boluarte as she faces a criminal investigation over illegal enrichment. Last week on Holy Friday — a public holiday in Catholic Peru — police raided her private residence, forcing their way through the door. They then searched the presidential palace for luxury items and evidence about how she came to acquire them.

Boluarte has denied any wrongdoing, but also hasn’t publicly explained how she obtained her seemingly expensive possessions. She has acknowledged owning at least one Rolex watch and prosecutors found documentation tying Boluarte to a Datejust 36 — prices of which start at $15,000 in Peru — during the raid.

…en actividades dentro y fuera de Palacio… pic.twitter.com/YEGAyiPB8x— La Encerrona (@laencerronaperu) March 14, 2024

Her jewelry collection even includes a Cartier bracelet worth $50,000, according to the newspaper La Republica. Boluarte hasn’t denied that claim.

Before Boluarte gained the vice presidency in 2021 as part of the ticket in a Marxist-Leninist party, she was a public servant working for Peru’s agency in charge of identity records. She declared an annual income of about $18,000 in that role.

As vice president and minister, she declared a monthly income of about $8,000, according to her official sworn statements. Her monthly income as president is $4,300.

In a nationwide address on Saturday, Boluarte called the police raid “arbitrary, disproportional and abusive,” suggesting that criticism of her administration threatens the country’s democracy. 

“This situation is extremely serious and impacts the rights of my family, but mostly it affects the country’s governability,” she said in the address, flanked by her cabinet.

Two cabinet members — interior minister Victor Torres and women’s minister Nancy Tolentino — announced their resignations on Monday, although neither cited the Rolex scandal. In his role as interior minister, Torres oversaw the national police, a unit of which was responsible for raiding Boluarte’s residences on Friday.

The largest congressional bloc — Popular Force — has backed multiple impeachment motions since 2017 that have forced out three presidents. But over the weekend, it said impeaching Boluarte would create “instability” in the country.

Last year, Boluarte freed jailed former president Alberto Fujimori, the father of Keiko Fujimori, the head of Popular Force.

Boluarte’s top aide, Prime Minister Gustavo Adrianzen, faces a confirmation vote in Congress later this week. And while a left-wing lawmaker has filed an impeachment motion against the president over the luxury items, she has already comfortably survived two ouster attempts since taking over. 

In addition to the illegal-enrichment investigation, Boluarte faces a homicide probe over her role in the deaths of almost 50 protesters who were killed in anti-government demonstrations during the first few months of her presidency.

Boluarte, whose term is set to end in July 2026, cannot be arrested while in office. She cannot run for reelection.  

The Rolex and other luxury items clash with the image Boluarte has sought to project as a politician. She was elected as vice president in 2021 as part of a party that went on to win overwhelming support among Peru’s poorest citizens while being rejected by its wealthiest citizens.

After her predecessor was impeached and arrested, Boluarte has insisted that she is a woman of humble origins, often speaking in the indigenous language Quechua in national addresses to differentiate herself from whiter elites in Lima.

“The first female president in the 200 years of our country’s history does not give up,” Boluarte said in her Saturday address. “I came in with clean hands to the presidency and I will go out in the same way in 2026.” 

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Authors
By Marcelo Rochabrun
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

Latest in Politics

PoliticsDonald Trump
Kennedy Center seeks $1 million in damages from musician who canceled performance after Trump name added to building
By Steven Sloan and The Associated PressDecember 27, 2025
1 hour ago
PoliticsTrains
California drops lawsuit to reinstate federal bullet train funding as high-speed rail authority seeks private investors
By Sophie Austin and The Associated PressDecember 27, 2025
2 hours ago
Federal Reserve Gov. Chris Waller engages 200 top CEOs at the Yale CEO Summit in December, 2025. (Photo courtesy of the Yale Chief Executive Leadership Institute/Photographer Donovan Marks)
CommentaryFederal Reserve
Why over 80% of America’s top CEOs think Trump would be wrong not to pick Chris Waller for Fed chair
By Jeffrey Sonnenfeld and Steven TianDecember 27, 2025
2 hours ago
Kence Anderson is the founder and CEO of AMESA 
CommentarySoftware
I pioneered machine teaching at Microsoft. Building AI agents is like building a basketball team, not drafting a player 
By Kence AndersonDecember 27, 2025
3 hours ago
hawaii
Environmentendangered species
Hawaii’s Big Island cat lovers are furious about a feeding ban to protect an endangered goose species: ‘They’re both living creatures’
By Jennifer Sinco Kelleher and The Associated PressDecember 27, 2025
6 hours ago
Politicsarms, weapons, and defense
Anduril founder Palmer Luckey is among the U.S. defense execs and companies sanctioned by China over arms sales to Taiwan
By The Associated PressDecember 26, 2025
21 hours ago

Most Popular

placeholder alt text
Retail
Trump just declared December 26th a national holiday. What's open and closed?
By Dave SmithDecember 26, 2025
1 day ago
placeholder alt text
Success
As millions of Gen Zers face unemployment, CEOs of Amazon, Walmart, and McDonald's say opportunity is still there—if you have the right mindset
By Preston ForeDecember 26, 2025
1 day ago
placeholder alt text
Investing
Logan Paul auctions off $5.3 million Pokémon card, urging young people to invest more in nontraditional assets: 'Don't be afraid to take a risk'
By Sydney LakeDecember 25, 2025
2 days ago
placeholder alt text
Real Estate
Mark Zuckerberg gifted noise-canceling headphones to his Palo Alto neighbors because of the nonstop construction around his 11 homes
By Dave SmithDecember 25, 2025
2 days ago
placeholder alt text
Success
Billionaire philanthropy's growing divide: Mark Zuckerberg stops funding immigration reform as MacKenzie Scott doubles down on DEI
By Ashley LutzDecember 22, 2025
5 days ago
placeholder alt text
Economy
Trump's tariffs actually slashed the deficit from a record $136.4 billion to less than half that. Here's what else they did
By Wyatte Grantham-Philips, Paul Wiseman and The Associated PressDecember 26, 2025
24 hours ago

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.