Latin America is experiencing a boom in billionaire wealth, with the region’s richest individuals seeing their fortunes increase significantly. This growth is illustrated by the fact that the average net worth of Latin American billionaires rose by 23% on this year’s World’s Billionaires list. In addition, there were 21 new faces from the region on the list, compared to just one new member last year. Overall, Forbes found 110 billionaires in Latin America, with a combined net worth of $530 billion, which is up from $413 billion in 2023.
The wealthiest individual in Latin America is Carlos Slim Helú, with an estimated net worth of $102 billion. Slim, who made his debut on the billionaires list in 1991 with a net worth of $1.7 billion, has grown his diversified empire over the years and is now the 14th richest person in the world. Other notable billionaires in the region include Colombian banker Jaime Gilinski Bacal, who added $4.1 billion to his net worth after acquiring Colombia’s largest processed foods company, and Brazilian banker André Esteves, who saw his fortune increase by $1.9 billion.
The list of Latin America’s billionaires also includes several new faces, such as Cristina Junqueira, the co-founder of Nubank’s Brazil division, and the Coppel brothers from Mexico, who have a combined net worth of $9.5 billion. However, there are also some notable absences, such as former Chilean president Sebastian Piñera, who was worth an estimated $2.9 billion before his untimely death in a helicopter crash earlier this year. Despite this loss, eight Latin American countries are represented on the billionaires list.
The top 10 richest people in Latin America include individuals from Brazil, Colombia, Mexico, and Chile. The list is led by Carlos Slim Helú, followed by Facebook co-founder Eduardo Saverin, mining magnate Germán Larrea Mota-Velasco, and banking heiress Vicky Safra. The rankings also include individuals involved in beer, retail, and fintech industries, illustrating the diversity of wealth sources in the region.
Despite the economic challenges facing Latin America, including political turmoil and high inflation in countries like Argentina, the region’s billionaires continue to thrive. With a growing number of new faces on the billionaires list and increasing fortunes for many individuals, Latin America’s wealthy elite are solidifying their positions as some of the richest people in the world. The wealth and influence of these individuals have the potential to shape the region’s economic landscape for years to come.
