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UBS Report Shows: Brazil Has 433 Thousand Millionaires and Leads Latin America, Ranking 19th in the World in the Number of People with More Than US$ 1 Million.
One figure stands out in the recently released Global Wealth Report 2025, prepared by the Swiss bank UBS: Brazil is the country with the most millionaires in Latin America, with about 433 thousand people with a net worth exceeding US$ 1 million. The study assessed the distribution of wealth in 56 countries, which together represent over 90% of global wealth. In the global ranking, Brazil ranks 19th, ahead of all Latin American nations and only behind the largest economies on the planet.
This number reveals not only the economic strength of the country in the region but also exposes striking contrasts: while Brazil concentrates hundreds of thousands of millionaires, it still faces poverty rates that affect millions of families.
How the Number of Millionaires is Calculated
The UBS survey considers as millionaires those with a net worth above US$ 1 million (about R$ 5.6 million at current exchange rates).
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This calculation includes:
- Financial assets: investments, stocks, bank deposits.
- Non-financial assets: real estate, land, high-value goods.
- Debt deductions: loans, financing, and personal obligations.
In other words, it’s not enough to have a luxury property or million-dollar investments. Net worth is calculated by the final balance between assets and debts.
Brazil in the Leadership of Latin America
In Latin America, no other country comes close to Brazilian numbers. Mexico, Chile, and Argentina account for much smaller figures.
According to UBS, Brazil accounts for nearly half of all millionaires in the region, establishing itself as the most attractive market for private banks, wealth management firms, and financial consulting companies.
This growth is also linked to the appreciation of assets in recent years, particularly in sectors such as:
- Agrobusiness: broke records in soybean, corn, and meat exports.
- Energy and Mining: oil, gas, and iron ore saw a surge in international prices.
- Financial Market: Brazil maintained high interest rates, attracting foreign capital to fixed income and boosting financial fortunes.
Modest but Steady Growth
Between 2023 and 2024, the number of millionaires in Brazil grew by about 1.6%, according to UBS. Although the increase is modest compared to other emerging markets, it reflects the resilience of the Brazilian economy amid a global scenario of inflation and geopolitical instability.
Experts point out that the strengthening of the real against the dollar and the performance of export sectors helped sustain this growth.
Inequality Remains a Brazilian Mark
The same report that identifies Brazil as a leader in millionaires also reinforces an uncomfortable contrast: the country ranks among the most unequal in the world.
While 433 thousand people hold billionaire fortunes, IBGE shows that millions of Brazilians live on a monthly income below two minimum wages.
This disparity can be explained in part by the concentration of wealth: high-value properties, large land areas, and financial assets are restricted to a small portion of the population.
Global Comparison
In the global millionaires ranking, the United States continues to lead absolutely, with over 22 million people with a net worth exceeding US$ 1 million. Following are the China, Japan, Germany, and the United Kingdom.
Brazil, at 19th place, occupies a middle position: significant in the international scenario but still distanced from the giants.
Even so, within Latin America, the country is unbeatable. The total number of millionaires from all its neighbors does not reach Brazilian figures.
What Explains This Concentration of Wealth
Economists highlight several factors that drive the creation of millionaires in Brazil:
Expansion of Agribusiness: producers and agricultural traders accumulated wealth through record exports.
Financial Investments: high-income families benefited from high interest rates and stock market appreciation.
Real Estate Market: appreciation of properties in major centers like São Paulo, Rio, and Brasília.
High Dollar: those with assets abroad saw their wealth grow in reais.
Prospects for the Coming Years
UBS projects that the number of millionaires in Brazil should continue to grow until 2029, but at a moderate pace, aligned with economic growth and global market behavior.
The report also warns of risks: political instability, fiscal pressures, and currency fluctuations can directly impact the formation of new fortunes.
Still, Brazil is likely to maintain its regional leadership, consolidating itself as the main wealth hub in Latin America.
More Millionaires, but Also More Challenges
The fact that Brazil has 433 thousand millionaires helps to gauge the country’s economic potential, but it also highlights the need for policies that reduce inequality.
Wealth is growing, but it does not reach everyone. And this contrast is one of the greatest challenges for the future: to reconcile wealth growth with social inclusion.
Brazil is, at the same time, the country with the most millionaires in Latin America and one of the most unequal in the world. A paradox that demands reflection and action.
É correto dizer que existe concentração de renda no Brasil, mas isso se dá por conta da imensa população de pobres e não porque temos muitos ricos. A matéria usa números absolutos, o que acaba tirando o valor da conclusão e levando o leitor a uma ideia errada.
Chile e Uruguai por exemplo tem cerca de 60 mil e 17 mil milionários, com populações de 20 milhões e 3 milhões respectivamente. Ora, se no Brasil temos mais de 200 milhões, concluímos com um pouco de matemática básica que o Uruguai tem o dobro de milionários per capita que o Brasil, e o Chile tem 50% mais.
E isso mesmo…tudo dentro das suas proporções…de forma positiva ou negativa…isso é raciocínio lógico…