In an unexpected turn, President Javier Milei anticipated changes in the national Cabinet, which raised doubts about the possible rise of Santiago Caputo, his presidential advisor and a key piece in his political strategy. Caputo, who currently appears as a category B monotributista and is hired by the General Secretariat of the Presidency through an agreement for the provision of professional services, could be on the radar for a more relevant role, according to recent statements by the president.
The announcement came after an interview in which Milei confirmed that there will be changes in the Cabinet in the second part of his mandate, assigning Caputo a central role. The statement generated speculation, especially because, despite being a key figure in the presidential environment, Caputo has maintained a low profile in terms of formal responsibilities. His status as a monotributista and his contract as an advisor, which grants him monthly fees of 3,750 remuneration units (equivalent to about $2.3 million in 2024), place him in an atypical position within the government: he does not have direct executive functions or an official signature.
This situation has not been free of internal tensions. The Chief of Staff, Guillermo Francos, would have expressed his dissatisfaction with Caputo’s influence, underlining the difference in roles and responsibilities. The phrase “It’s easy when you don’t have a signature or have responsibilities” reflected the discomfort within the presidential team and the tension between Francos, who exercises a role with constitutional powers, and Caputo, whose authority is based on his closeness to Milei.
Caputo, who declared a net worth of $1,178,000 in 2023 — including properties in Buenos Aires and cash assets — has become a controversial figure since his appointment. His recently released affidavit revealed considerable wealth for someone operating under a monotax regime, fueling debates about his true influence within the government. Although his contract expired on December 31, 2024 and was extended, he continues to serve as an advisor without formal powers, which raises questions about his possible promotion to a position with greater institutional weight.
Milei’s announcement not only reignites speculation about Caputo’s future, but also exposes the power dynamics within the Executive. While some consider him an indispensable strategist, others question his lack of formal responsibilities and the real extent of his influence. In a context of announced changes, his role could be redefined, marking a new chapter in the relationship between political power and the president’s closest advisors.
