MONTEVIDEO, Uruguay – Uruguayan President Jose Mujica has declared $322,883 in wealth.

Mujica’s insistence on living simply has earned him the nickname “the poorest president in the world,” but his sworn declaration this year shows a 74 per cent increase in wealth since 2012. He said that’s because he didn’t put his money, about $104,000, into bank accounts until recently.

The president, who rarely dons a tie and drives an old Volkswagen Beetle, still lives on a ramshackle flower farm with his wife, Sen. Lucia Topolansky. His report valued the farm at about $108,000. They share ownership in two other properties.

When it comes to wheels, Mujica has three tractors and his two 1987 Beetles. The VWs together are worth about $4,750.

Uruguay’s 42,000 public officials have to make sworn wealth declarations every two years, but only the top two are required to make them public.

Vice-President Daniel Astori says he’s worth $389,000.