There are more than 4,725 individuals in Brazil worth more than USD30 million, according to the latest report on the South American country by wealth intelligence firm Wealth-X.
In terms of total wealth, Brazil ranks number three in comparison to the other BRIC countries, following closely behind India. Brazil’s collective net worth is at least USD890 billion when accounting for shares in public and private companies, residential and investment properties, art collections, planes, cash and other investible assets.
The analysis finds that new ultra millionaires are growing at a rapid pace while the expanding Brazilian middle-class continues to be a bellwether for the countries overall economic success. There are more than 3,100 Brazilians worth between USD30 million and USD100 million, and another 630 worth between USD100 million and USD200 million. Their combined net worth: at least USD260 billion.
There are at least 50 billionaires in Brazil, and more than 200 individuals worth more than USD500 million. Those plutocrats are worth at least a combined USD420 billion, representing almost half of the collective net worth of all the ultra high net worth individuals in Brazil.
"Our research highlights the rising profile of Brazilian UHNW individuals and highlights the need for private wealth managers to place themselves at the focal point of this growth," says Wealth-X CEO Mykolas Rambus. "Brazil specifically presents another great opportunity for wealth and asset managers to strategically grow their business."
