• 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
Bloomberg
Down Arrow Button Icon
By
Marcelo Rochabrun
Marcelo Rochabrun
and
Bloomberg
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.” 

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • 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
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

By staying on the Fed’s board, Jerome Powell could be doing incoming Chairman Kevin Warsh a huge favor 
EconomyFederal Reserve
By staying on the Fed’s board, Jerome Powell could be doing incoming Chairman Kevin Warsh a huge favor 
By Jason MaMay 1, 2026
34 minutes ago
trump
PoliticsIran
Trump White House argues Iran War is over because of cease-fire that began in April
By Seung Min Kim and The Associated PressMay 1, 2026
3 hours ago
Sen. Rick Scott (R-FL) is joined by fellow Senate Republicans for a news conference where he urged the White House and Senate Democrats to pass the House GOP legislation that would raise the debt limit and cut federal spending, outside the U.S. Capitol on May 03, 2023 in Washington, DC.
Economynational debt
‘Cut up the credit cards:’ Congress is getting brutal about ‘embarrassing’ $31 trillion national debt
By Eleanor PringleMay 1, 2026
5 hours ago
Newly appointed Apple CEO John Ternus (left) with outgoing CEO Tim Cook in Cupertino, Calif. (Photo courtesy Apple)
PoliticsMarkets
Apple’s new CEO said he will continue the company’s tradition of secrecy—and Wall Street loved it
By Jim EdwardsMay 1, 2026
5 hours ago
sundar
Commentary250 Years of Innovation
America at 250: immigration and the making of an innovative nation
By Nasser KazeminyMay 1, 2026
6 hours ago
trump
Personal Financenational debt
The national debt is the same size as the economy. It’s a ‘disturbing warning and a call to action,’ watchdog says
By Nick LichtenbergMay 1, 2026
8 hours ago

Most Popular

China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
North America
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
By Jake AngeloApril 30, 2026
21 hours ago
Apple cofounder Ronald Wayne—whose stake would be worth up to $400 billion had he not sold it in 1976—says that at 91, he has no regrets
Success
Apple cofounder Ronald Wayne—whose stake would be worth up to $400 billion had he not sold it in 1976—says that at 91, he has no regrets
By Preston ForeApril 27, 2026
4 days ago
Accenture's Julie Sweet blew up 50 years of company history. She says the hardest part is still ahead
Conferences
Accenture's Julie Sweet blew up 50 years of company history. She says the hardest part is still ahead
By Nick LichtenbergApril 29, 2026
2 days ago
America shot its arsenal empty in 2 wars. Now it needs Beijing's permission to reload
Commentary
America shot its arsenal empty in 2 wars. Now it needs Beijing's permission to reload
By Steve H. Hanke and Jeffrey WengApril 30, 2026
22 hours ago
Exclusive: America's largest Black-owned bank launches podcast with mission to unlock hidden shame holding back generational wealth
Banking
Exclusive: America's largest Black-owned bank launches podcast with mission to unlock hidden shame holding back generational wealth
By Nick LichtenbergApril 29, 2026
2 days ago
Google Cloud revenue is now 18% of Alphabet's business. Is this the beginning of the end of Google's search identity?
Big Tech
Google Cloud revenue is now 18% of Alphabet's business. Is this the beginning of the end of Google's search identity?
By Alexei OreskovicApril 29, 2026
2 days ago

© 2026 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.