Number of Brazilian millionaires rises to nearly 400,000
June 24 (UPI) -- Brazil leads Latin America in the number of millionaires, with nearly 400,000 residents holding a net worth of $1 million or more, according to the UBS Global Wealth Report 2025. The country ranks first in the region and 19th globally.
The UBS report estimates that 380,585 Brazilians had a net worth of at least $1 million in 2024, a figure projected to rise to nearly 470,000 by 2028. Along with Mexico and Chile, Brazil is helping drive wealth growth across Latin America, reflecting the region's economic resilience and a more sophisticated investment market.
The report also introduces the concept of "everyday millionaires," or EMILLIs -- individuals with assets between $1 million and $5 million. This group has quadrupled in size globally since 2000 and now controls a significant share of global wealth. In Brazil, they represent a growing segment of the country's wealth base.
Above the EMILLIs are "ultra-high-net-worth individuals"with more than $30 million in assets, and at the top, Brazil's wealthiest families. These groups hold a substantial share of the country's total wealth and are the primary beneficiaries of exclusive investment opportunities, both domestically and internationally.
Several factors are fueling Brazil's surge in millionaire households. The country has maintained a degree of macroeconomic stability in recent years, boosting investor confidence and creating favorable conditions for capital accumulation.
With a large population and robust domestic consumption, Brazil offers a dynamic market for businesses. That environment has opened doors for entrepreneurs and investors to generate wealth across multiple sectors.
Agribusiness, technology, renewable energy and finance have all seen strong growth, benefiting a growing number of investors.
Brazil's financial market has also expanded, offering a broader range of investment products. This has allowed wealthy families to diversify their portfolios and improve returns.
Foreign direct investment across key sectors has further contributed to Brazil's economic momentum and wealth creation.
Looking ahead, the UBS Global Wealth Report 2025 forecasts a massive global transfer of wealth over the next two decades, with more than $83 trillion expected to pass from one generation to the next. Of that, nearly $9 trillion is projected to change hands in Brazil-more than any country except the United States and China.
This generational shift presents both opportunity and risk. It could inject capital into the economy and help finance new ventures, but it also poses challenges in wealth management and succession.
A 2025 report by Forbes Brasil identifies the country's leading family fortunes. At the top are the Moreira Salles brothers, with an estimated $26 billion, followed by the Marinho family (Grupo Globo) and the Setubal family (Itaúsa).
According to the Institute for Mobility and Social Development, nearly half of Brazil's 95 wealthiest families in 2022 were not on the list a decade earlier. Among the newcomers are the Batista family (JBS), Krigsner family (Grupo Boticário), and Billi family (Eurofarma), highlighting upward mobility in emerging industries.
In 2024, Eduardo Saverin, co-founder of Facebook, became the wealthiest Brazilian in history, with an estimated fortune of $38 billion. He ranked 44th globally, surpassing longtime billionaires Jorge Paulo Lemann and the Safra family.
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