Brazil Leads Latin America in Millionaires, but Inequality Remains Stark, UBS Report Shows

Brazil has more millionaires than any other country in Latin America, but it also has the biggest gap between rich and poor among 56 countries studied by Swiss bank UBS.

The bank’s latest Global Wealth Report, released in June 2025, counts 433,000 Brazilians with over $1 million in assets. This puts Brazil 19th in the world and first in the region for the number of millionaires.

However, the report also finds that wealth in Brazil is very unevenly spread. The country’s Gini index, a measure of inequality, is 51.6 according to the World Bank, which is much higher than most countries.

This means a small group of people control a large share of the country’s wealth, while millions have far less. The number of millionaires in Brazil grew by 1.6% from 2023 to 2024.

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Brazil’s Growing Wealth Highlights Economic Strength

UBS expects this number to reach nearly 464,000 by 2028, a 22% increase in just four years. Even though the overall wealth in Brazil has grown quickly—up more than 375% since 2008 in local currency—most of these gains have gone to the richest people.

Wealth in Brazil is not only growing, but also staying within the country. UBS notes that wealthy Brazilians keep most of their money invested locally, unlike the rich in other Latin American countries who often send their money abroad.

This shows confidence in Brazil’s own economy, but it does not help close the gap between the richest and the rest. Looking ahead, UBS estimates that nearly $9 trillion will be passed down from one generation to the next in Brazil over the next 20 to 25 years.

This is the second highest amount in the world, after the United States. Such a large transfer of wealth could affect the country’s economy for years to come. Brazil’s story is one of strong wealth creation, but also of deep inequality.

The challenge for the country is to find ways to spread this wealth more fairly, so that more people can benefit from economic growth. All figures and facts in this article come from official UBS and World Bank data.