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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
A more than $12 billion wipeout in the fortunes of Brazil’s wealthiest people deepened this week, as a market selloff knocked the currency down to a record low and dragged down some company valuations by more than 60% for the year.
From Rubens Ometto to Andre Esteves, some of the country’s billionaires had already seen their wealth decrease this year as President Luiz Inacio Lula da Silva continually refused to slash spending and the country’s fiscal deficit swelled to nearly 10% of gross domestic product.
Brazil’s Wealthy Lament Political Dysfunction as Fortunes Tumble – Bloomberg
