MercoPress. South Atlantic News Agency

Latinamerica has 15.100 ultra-rich; Brazil leads with 4.725 and 890 billion dollars

In Brazil 50 people have net assets of over a billion dollars

Latinamerica has 15.100 super rich (8% of the world total) according to the latest World Report on the Ultra Rich 2011/12 from Wealth-X. Super rich is defined as a person with net assets over 24.4 million Euros (30 million dollars).

The total net assets of the rich Latinamericans reach 1.87 trillion Euros (9% of the world total) which means the number of rich Europeans outnumbers their Latinamerican peers by 3.5 but regarding net assets the rate drops to 2.9 times.

On the other hand per capita income in Latinamerica even among those highest ranked is several times lower than their European counterparts. According to the World Bank Chile’s per capita income is 11.707 Euros; Uruguay’s, 11.277 Euros; Brazil, 10.243; Argentina’s 8.898; Venezuela, 8.792 and Mexico, 8.125.

As a consequence of the current melting of the EU periphery values are changing but Greece figured with a per capita income of 21.493 dollars; Ireland, 39.382; Italy, 29.373; Portugal, 18.161 and Spain, 26.244 dollars.

Wealth-X argues that the high prices of commodities in recent years contributed for the most fortunate in Brazil to become ultra rich. Brazil is the world’s third country with the highest number of ultra rich in the world and first in the region totalling 4.725 almost the same number as in the whole of the Middle East. They have accumulated 890 billion dollars. In Brazil there are 50 people with net assets of over a billion dollars each points out the report.

Mexico follows with 1.900, almost the same number as in the whole of Africa; Argentina is ranked third with 1.050 ultra rich. The list continues with Colombia, 900; Peru, 775: Chile, 750; Venezuela, 500; Guatemala, 310; Ecuador, 275 and the Dominican Republic, 225 ultra rich. The next ten includes Bolivia, 200; Honduras, 185; Nicaragua, 180; Paraguay, 150 and el Salvador, 140.

US is top of the list with 57.860 ultra rich and 7.6 trillion dollars. India figures second with 4.960 ultra rich.

Another report on Global Wealth 2012, from Capgemini and RBC Wealth management shows that in 2011, the number of Latinamericans with over a million dollars in investments increased 5.4% although the overall wealth was down 2.9% because of the fall in commodities’ prices compared to 2010.

In Brazil again the number of ultra rich (with over 30 million dollars net assets) increased 6.2%, but Latinamerica’s largest economy is also home of 165.000 people with assets of over a million dollars.

Brazil thus ranks tenth at world level only behind the US, Japan, Germany, China, UK, France, Canada, Switzerland, Australia and Italy.

Of the 11 million people in the world with net assets of over a million dollar, half a million are Latinamericans that is 4.5%. Of the 34.1 trillion dollars from the ultra rich, 7.1 trillion are residents in Latinamerica equivalent to 16.9% of the total amount.