How Latin America's Richest Billionaires Made Their Money

a lot is going on in Latin America Mexico may see its first ever female president the Argentine peso is collapsing amid the country's highest inflation in three decades and Brazil's new president Luis inao Lula da Silva continues to wrestle with a deeply polarized political environment but one thing is certain billionaires in the region are increasing their wealth and new fortunes keep cropping up the average Latin American billionaires worth Rose by 23% this year and the list welcomed 21 new faces from the region up from one last year in total 63 of Latin America's richest saw their fortunes increase and the region counted 21 new billionaires and 10 returnees some of the Region's wealthiest include Telecom magnate Carlos Slim metas Eduardo Savin and the co-founder of Latin America's largest unicorn David valz here are the five richest billionaires in Latin America number five Vicki saffra and family Vicki saffra and her children inherited her husband Joseph safra's Fortune after he passed away in 2020 he was the world's richest Banker at the time 3 years later an inheritance lawsuit filed in the New York state supreme court by her son Alberto saffra claimed that his mother and brothers had diluted his state sake in saffra National Bank the case was dismissed for lack of personal jurisdiction in March 2024 Vicky saffra was born in Greece and retains both Greek and Brazilian citizenship she resides mostly in Switzerland number four erise fontbona and family the Widow of andronico luik and her children inherited a multi-billion dollar mining business along with a diversified Chilean conglomerate her stepson andronico luik Craig who led kineno as chairman since 2013 stepped down in December meanwhile his brother John Paul chairs the board of the family's mining business ento faga which brought in $6.3 billion in Revenue in 2023 number three Hermon laa modav Velasco and family Hermon laa press shy and elusive built his fortune by expanding groupo Mexico after taking over as president and CEO in 1994 the conglomerate owns the country's largest mining company producing nearly 1 million tons of copper a year Laro was reportedly in talks to acquire banamex City group's Mexican banking unit for $7 billion in May the deal was scrapped as City announced it would pursue an IPO for that arm instead number two Eduardo Savin the Facebook co-founder's wealth has jumped by $17.8 billion since last year making him Brazil's richest citizen in 2024 Savin was born in sou Pao but grew up in Miami shares of meta which make up the bulk of San's Fortune have tripled since last year and his stake estimated at less than 5% is now worth $27 billion in 2015 Savin a resident of Singapore founded Venture Capital firm B capital which has more than $5 billion in assets under management and at number one Carlos Slim hu and family slim who ranked as the richest person in the world from 2010 to 2013 was worth $74 billion at his peak in 2011 though there are now 13 others ahead of him he still wealthier than he's ever been Thanks largely to a 60% jump in shares of his industrial conglomerate groupo Caro which reached deals of over $655 million to boost its investments in the energy sector [Music]

Channel: Forbes

Views: 13,522

Keywords: Forbes, Forbes Media, Forbes Magazine, Forbes Digital, Business, Finance, Entrepreneurship, Technology, Investing, Personal Finance, richest billionaires, richest in latin america, Jaime Gilinski Bacal, André Esteves, Cristina Junqueira, Maria Consuelo Dias Branco, Sebastian Piñera, Vicky Safra & family, Iris Fontbona & family, Germán Larrea Mota-Velasco & family, Eduardo Saverin, Carlos Slim Helú & family, richest in brazil, richest in mexico

Id: P8RvI31lOvk

Length: 4min 27sec (267 seconds)

Published: Mon May 06 2024