Latin America’s billionaires are experiencing a boom, with the region seeing a 23% increase in the average net worth of its wealthiest individuals. The World’s Billionaires list for 2024 welcomed 21 new faces from Latin America, compared to just one the previous year. Overall, Forbes identified 110 billionaires in the region, with a combined worth of $530 billion, up from $413 billion in 2023.
Carlos Slim Helú leads the pack as the wealthiest person in Latin America, with an estimated net worth of $102 billion. Slim’s fortune has grown steadily over the years, making him the 14th-richest person in the world. Among the other billionaires in the region who saw their wealth increase over the past year are Colombian banker Jaime Gilinski Bacal and Brazilian banker André Esteves.
Latin America added 21 new billionaires and 10 returnees to the Forbes list this year. Notable newcomers include Cristina Junqueira, cofounder of Nubank, and the Coppel brothers from Mexico, who own the Coppel department store chain. Maria Consuelo Dias Branco from Brazil also joined the list with her stake in the food manufacturer M. Dias Branco. However, former Chilean president Sebastian Piñera, who passed away in a helicopter crash in February, is notably absent from this year’s list.
The top 10 richest people in Latin America include a mix of individuals from Brazil, Mexico, Colombia, and Chile. Eduardo Saverin, the Facebook cofounder, saw his wealth increase significantly, making him Brazil’s richest citizen with a net worth of $28 billion. Meanwhile, Carlos Slim Helú maintains his position as the wealthiest person in Latin America, with a net worth of $102 billion. Germán Larrea Mota-Velasco from Mexico and Iris Fontbona from Chile also rank high on the list.
Despite the economic and political challenges facing Latin America, the region’s billionaires continue to thrive and expand their wealth. From telecom tycoons to mining magnates, these individuals have managed to navigate the volatile landscape and amass significant fortunes. As the region continues to evolve, it will be interesting to see how these billionaires adapt and continue to grow their wealth in the years to come.
