Brazil has more millionaires than any other Latin American country. The UBS Global Wealth Report shows 380,585 Brazilians own at least one million dollars. This number puts Brazil at 19th place around the world. Experts expect Brazil to have 470,000 millionaires within four years. The country leads Mexico and Chile as the region grows richer.
Most Brazilian millionaires fall between one million and five million dollars in wealth. These people are called everyday millionaires or EMILLIs. Above them sit ultra-rich families with more than 30 million dollars each. Brazil also has some of the world's wealthiest individuals. Eduardo Saverin from Facebook became the richest Brazilian ever with 38 billion dollars.
Several factors help create new millionaires across Brazil. The economy has stayed stable and attracted foreign investment. Farming, technology, green energy and banking sectors all perform well. Brazil's large population creates strong demand for goods and services. Financial markets offer more investment choices than before.
A huge wealth transfer will happen over the next 20 years globally. About 83 trillion dollars will pass from older to younger generations worldwide. Brazil expects to see nine trillion dollars change hands between family members. Only the United States and China will see larger wealth transfers during this period. Nearly half of Brazil's richest 95 families earned their fortunes within the past decade.
Most Brazilian millionaires fall between one million and five million dollars in wealth. These people are called everyday millionaires or EMILLIs. Above them sit ultra-rich families with more than 30 million dollars each. Brazil also has some of the world's wealthiest individuals. Eduardo Saverin from Facebook became the richest Brazilian ever with 38 billion dollars.
Several factors help create new millionaires across Brazil. The economy has stayed stable and attracted foreign investment. Farming, technology, green energy and banking sectors all perform well. Brazil's large population creates strong demand for goods and services. Financial markets offer more investment choices than before.
A huge wealth transfer will happen over the next 20 years globally. About 83 trillion dollars will pass from older to younger generations worldwide. Brazil expects to see nine trillion dollars change hands between family members. Only the United States and China will see larger wealth transfers during this period. Nearly half of Brazil's richest 95 families earned their fortunes within the past decade.
