Brazil has largest number of millionaires in Latin America
US bank Merrill Lynch released a study on Tuesday that places Brazil top in Latin America for the largest number of millionaires.
According to the study, the world currently has 10,000,000 millionaires, and the number has increased by 6% since 2006. Brazil had an increase of 19% in its wealthiest class. Throughout the world, large fortunes (considered to be more than $30 million) increased by 8.8% from last year. In that exclusive group, there are some 103,300 individuals, the study said. The main reason for Brazil’s leap is related to the increase of prices of commodities and raw materials.
Additionally, the development of Brazil’s financial market has spurred the growth of millionaires living in the country, it added. Latin American also has had the highest increase of millionaires worldwide since 2007. The region in itself grew to be the third most populated region of millionaires, the study showed. (Xinhua)
ADVERTISEMENT
MNB Int'l Reserves Fall EUR 358 mln in May
Parl't Approves Amendments to Legislation on Judiciary
Dana to Invest HUF 36 bln in Capacity Expansion in Hungary
Ibis Styles Budapest Airport Hotel Wins Best of Budapest & H...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
