• Categories
  • Archives

124 People Hold 12% of Brazil’s Wealth. Half of Population Survives on US$ 4 a Day

Brazilian favelaBrazil’s 124 richest people hold assets totaling 544 billion reais equivalent to 238.6 billion dollars or 12.3% of the country’s GDP, which is considered one of the most unequal in the world. The 124 are included in Forbes magazine latest publication that brings together all those Brazilians with fortunes over a billion reais (about 438 million dollars).

Top of the list is Jorge Paulo Lemann chief investor in the 3G Capital fund, which has recently purchased US ketchup manufacturer Heinz and is an important shareholder at brewers AB-InBev and Burger King.

Lemann, 74, has a fortune of 16.7 billion dollars, and is followed by Joseph Safra, of Lebanese origin and owner of the Safra bank with assets valued at 14.9 billion dollars. Most Brazilian fortunes belong to families that dominate corporations in traditional industries such as banking, construction and food.

Among the 124 only one has made his money with Internet and the new technologies: Eduardo Saverin, co-founder of Facebook.

The list suffered a major loss in this year’s Forbes edition, Eike Batista who was once the seventh richest man in the world and has squandered his assets with the dramatic fall in the value of oil company OGX shares and the rest of his conglomerate EBX in recent months.

But these great fortunes contrast with the official indexes which show Brazil is one of the world’s countries with the greatest income and wealth disparities.

In effect the Gini index in 2011 had Brazil with 0.501 points, in a scale from 0 to 1 with the highest disparities among rich and poor as it advances towards 1.

Furthermore 41.5% of all salaries and bonuses are concentrated in 10% of the richest paid staff according to 2010 census data, while half the population of 200 million lived on monthly incomes of less that 130 dollars per capita.

Mercopress

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazilian Feisty Gol Flies Daily to Panama

Brazilian Airline carrier Gol announced that it is starting to operate daily flights between ...

US Helps Brazilian Police Arrest 43 from Visa Gang That Sent People to the US

Brazil’s Federal Police (PF) operating in the southeasterb Brazilian states of São Paulo and ...

Brazil Asks UN for a Bigger Continental Platform

Brazil’s Navy and Petrobras technical experts, scientists, and representatives of the Ministry of Foreign ...

Brazil's Computers for All program uses free software

Brazil’s Computers for All Program Gets 50,000 Linux Machines

Computers for All, a program from the Brazilian federal government whose goal is to ...

Brazil Makes Its Case to Saudis that Brazilian Agribusiness Is Good for Them

Brazil's Ministry of Agriculture, Livestock and Supply is going to promote a seminar on ...

Brasília’s Corruption Case Delayed. Main Witness Also Has Rap Sheet

Brazilian Durval Barbosa, the man who accused some 30 politicians and contractors of Brazilian ...

The Greatest

  This article is in commemoration of Brazil’s 500th anniversary. (Brazil’s actual birthday date ...

Brazil Says Its Closeness to Developing Countries Is Paying Off Richly

Brazil’s Minister of Foreign Relations, Celso Amorim, made this Wednesday, August 31, in a ...

“We Are Not Dying,” Answer Indigenous Peoples to Sensationalized Photo Expo

An Amazon Indian protested outside the exhibition of controversial photographer Jimmy Nelson’s work “Before ...

Brazil’s Petrobras Starts Oil Exploration Off the US Coast

Brazil's government managed oil company Petrobras announced the beginning of production at the offshore ...