IBOV 175,739 ▼ 1.20% IPSA 10,928 ▼ 1.17% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL5.13▲ 0.52% USD/MXN17.50▲ 0.19% USD/CLP932.70▲ 0.85% USD/COP3,235▼ 0.35% USD/PEN3.41▲ 0.52% USD/ARS1,482▼ 0.37% USD/UYU 40.22 — 0.00% USD/PYG6,045▼ 0.17% USD/BOB10.35▲ 2.07% USD/DOP58.37▼ 0.19% USD/CRC448.53▼ 0.06% USD/GTQ7.62▼ 0.10% USD/HNL26.73▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES722.19▲ 0.24% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▼ 0.25% USD/TTD6.74▼ 0.12% EUR/BRL5.87▲ 0.86% BRENT 84.03 ▲ 10.55% WTI 79.27 ▲ 11.01% IRON ORE 161.91 — — COPPER 6.31 ▲ 1.28% GOLD 4,021 ▼ 2.03% SILVER 57.97 ▼ 3.08% SOY 1,188 ▼ 0.69% CORN 458.25 ▲ 4.62% WHEAT 635.00 ▲ 0.47% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% CVCB3 1.25 — 0.00% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.58 ▼ 1.54% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.68 ▲ 1.05% GRUMA 281.37 ▼ 0.57% KIMBER 38.22 ▲ 0.24% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,095 ▼ 2.88% PAMPA 5,225 ▲ 0.87% TXAR 661.50 ▼ 1.42% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,324 ▼ 3.01% MIRGOR 17,050 ▼ 1.16% COME 44.85 ▼ 2.31% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% TELECOM ARG 4,248 ▲ 0.06% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% PAGSEGURO 9.28 ▲ 0.32% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% AMX ADR 26.02 ▲ 0.04% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,348 ▼ 2.21% ETH 1,776 ▼ 1.62% SOL 74.84 ▼ 2.65% XRP 1.06 ▼ 2.20% BNB 567.42 ▼ 1.14% ADA 0.16 ▼ 3.19% DOGE 0.07 ▼ 1.32% AVAX 6.46 ▲ 0.91% LINK 7.89 ▼ 1.23% DOT 0.83 ▼ 1.45% LTC 43.44 ▼ 1.21% BCH 232.19 ▼ 3.24% TRX 0.32 ▼ 2.15% XLM 0.18 ▼ 4.06% HBAR 0.07 ▼ 2.53% NEAR 1.94 ▲ 2.82% ATOM 1.53 ▼ 2.24% AAVE 95.46 ▼ 1.65% SELIC 14.25% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% INTER 5.65 ▼ 2.92% EGX 52,608 ▲ 0.67% USD/ZAR16.47▲ 0.87% USD/NGN 1,378 — 0.00% NIKKEI 66,730 ▼ 0.76% CSI300 4,709 ▲ 0.30% HSI 24,214 — 0.00% NIFTY 24,211 ▲ 0.02% KOSPI 6,746 ▼ 0.90% JCI 6,029 ▼ 0.15% USD/JPY162.35▲ 0.39% USD/CNY6.78▲ 0.06% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD1.14▼ 0.04% GBP/USD1.34▼ 0.22% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.16 ▲ 14.17% USD/CAD1.41▼ 0.18% US10Y 4.6090 ▲ 0.88% IBOV 175,739 ▼ 1.20% IPSA 10,928 ▼ 1.17% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL 5.13 ▲ 0.52% USD/MXN 17.51 ▲ 0.20% USD/CLP 932.70 ▲ 0.85% USD/COP 3,235 ▼ 0.35% USD/PEN 3.41 ▲ 0.52% USD/ARS 1,482 ▼ 0.37% USD/UYU 40.22 — 0.00% USD/PYG 6,045 ▼ 0.17% USD/BOB 10.35 ▲ 2.07% USD/DOP 58.37 ▼ 0.19% USD/CRC 448.53 ▼ 0.06% USD/GTQ 7.62 ▼ 0.10% USD/HNL 26.73 ▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES 722.19 ▲ 0.24% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 0.70% USD/TTD 6.74 ▲ 1.05% EUR/BRL 5.87 ▲ 0.86% BRENT 84.03 ▲ 10.55% WTI 79.27 ▲ 11.01% IRON ORE 161.91 — — COPPER 6.31 ▲ 1.28% GOLD 4,021 ▼ 2.03% SILVER 57.97 ▼ 3.08% SOY 1,188 ▼ 0.69% CORN 458.25 ▲ 4.62% WHEAT 635.00 ▲ 0.47% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% CVCB3 1.25 — 0.00% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.58 ▼ 1.54% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.68 ▲ 1.05% GRUMA 281.37 ▼ 0.57% KIMBER 38.22 ▲ 0.24% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,095 ▼ 2.88% PAMPA 5,225 ▲ 0.87% TXAR 661.50 ▼ 1.42% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,324 ▼ 3.01% MIRGOR 17,050 ▼ 1.16% COME 44.85 ▼ 2.31% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% TELECOM ARG 4,248 ▲ 0.06% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% PAGSEGURO 9.28 ▲ 0.32% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% AMX ADR 26.02 ▲ 0.04% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,348 ▼ 2.21% ETH 1,776 ▼ 1.62% SOL 74.84 ▼ 2.65% XRP 1.06 ▼ 2.20% BNB 567.42 ▼ 1.14% ADA 0.16 ▼ 3.19% DOGE 0.07 ▼ 1.32% AVAX 6.46 ▲ 0.91% LINK 7.89 ▼ 1.23% DOT 0.83 ▼ 1.45% LTC 43.44 ▼ 1.21% BCH 232.19 ▼ 3.24% TRX 0.32 ▼ 2.15% XLM 0.18 ▼ 4.06% HBAR 0.07 ▼ 2.53% NEAR 1.94 ▲ 2.82% ATOM 1.53 ▼ 2.24% AAVE 95.46 ▼ 1.65% SELIC 14.25% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% INTER 5.65 ▼ 2.92% EGX 52,608 ▲ 0.67% USD/ZAR 16.47 ▲ 0.05% USD/NGN 1,378 — 0.00% NIKKEI 66,730 ▼ 0.76% CSI300 4,709 ▲ 0.30% HSI 24,214 — 0.00% NIFTY 24,211 ▲ 0.02% KOSPI 6,746 ▼ 0.90% JCI 6,029 ▼ 0.15% USD/JPY 162.36 ▼ 0.04% USD/CNY 6.7813 ▲ 0.15% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD 1.1397 ▲ 0.09% GBP/USD 1.3360 ▲ 0.08% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.16 ▲ 14.17% USD/CAD 1.4135 ▼ 0.13% US10Y 4.6090 ▲ 0.88%
since 2009
Tuesday, July 14, 2026

Brazil Latest News

Brazil’s Pastor Malafaia invests “hard cash” to expand his religious empire in pandemic

By · August 23, 2021 · 4 min read

Daily Brief

The morning intel from across Latin America. Free.

By subscribing you agree to our privacy policy. We never share your email.

RIO DE JANEIRO, BRAZIL – While presenting the first branch of his Advec (Assembly of God Victory in Christ) in Taboão da Serra (Greater São Paulo) on August 22, Silas Malafaia announced what to expect from another launch scheduled 2 days later, in another city in the state of São Paulo.

The Sorocaba temple would be located in “Sorocaba’s top party venue,” said the Rio de Janeiro pastor. This was the end of a party venue, as the former headquarters of Soriá Eventos – which once hosted Saúde e Bem-Estar com Óleos Essenciais (Health and Well-Being with Essential Oils) and other 3,628 corporate events, as well as a host of weddings and debutante parties – has now become a church.

One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
Malafaia estimates spending an average of R$1 million (US$186,000) per inauguration. (Photo internet reproduction)
RT
Ask Rio Times
This story and the bigger picture.
Open the full Ask Rio Times →

Advec, in this one and a half year of Covid-19 pandemic, opened twice as many as the 9 spaces opened in 2018 and 2019 combined. At least 3 more are expected by the end of the year, as well as the expansion of other existing ones.

The investment, as he himself told the faithful in Taboão da Serra, demands “hard cash,” because he does not want to “do something unworthy for God.” In 2020 and 2021, over R$20 (US$3.7) million will be at stake.

“I’m not going to say all of them, so that they won’t think I’m the best thing since sliced bread, but most pastors have stopped and returned properties,” he says. The pastors who suffered the most from the loss of revenue between March 2020 and now, he says, are those who didn’t have the culture of electronic donations.

“Our growth was due to the fear of many. And also, I’m not going to pretend to be humble, we have credibility. I have a social network [adding Instagram, Facebook and Twitter] with over 8 million people.” He is also one of the pastors most aligned to President Jair Bolsonaro.

The pastor’s fame comes from his days as a televangelist (he was one of the pioneers on TV) and, nowadays, mainly from social networks.

The “hard cash” needs to come from somewhere. Advec’s headquarters, in the north zone of Rio de Janeiro, has 120 credit or debit card machines, widely used by the faithful rather than cash.

When in-person services were banned, or even when they were allowed but with limited capacity, virtual money transfer was well established. During the lockdown period, the tithes (10% of income) and offerings (amounts spontaneously donated) did not drop much because 85% of collections are made electronically, according to Malafaia.

Pix, an online transfer method that debuted in November with the pandemic already underway, has also helped maintain the cash inflow.

The opening of new churches, mostly in São Paulo and Rio de Janeiro interior, is a successful sample of Malafaia’s religious empire. There are other less successful ones. In 2019, Central Gospel, a company owned by Malafaia and his wife, also pastor Elizete, filed for receivership worth nearly R$16 million.

At the time, he blamed the financial crisis “caused by PT” for the situation. He now says that he has reached an agreement with his creditors and “will pay off [what he owes] and emerge from this, God willing.”

In order to replenish the cash for new temples, the pastor says that 3 times a year, “usually in April, August and December,” he promotes a campaign for extra funds for building works.

Malafaia says that people donate their money because they know where it will end up. “This thing [of saying] that evangelicals are a bunch of idiots who do what their pastor tells them to do… The church today has all social classes. I have poor, middle-class, wealthy, university professors, semi-literate people,” he says.

It is difficult to build anything from scratch. His custom is to rent properties and remodel them to accommodate an Advec. “What I spend on a church, with all due respect, could be used to build 4 Worldwide Churches, 4 Universal Churches,” Malafaia says, citing two competitors of neopentecostal lineage, the Worldwide Church of the Power of God and the Universal Church of the Kingdom of God.

“If I had a church based on the Worldwide Church system, ‘there’s a pastor’s room, a treasurer’s room, and that’s it’… Oh my, I would have opened 500, 600 churches.”

He opened dozens, from medium to large. Advec has been operating since 1959, but its expansion began in earnest when Malafaia assumed leadership, a position inherited from his father-in-law, Pastor José Santos, who died in 2010. The evangelical brand now boasts 150 temples, 2% of the 8,000 he says he wants to open in Brazil.

Malafaia prefers larger venues, for at least 400 people. “At that time [his father-in-law’s] they made small churches with plastic chairs, fans, and fifth-rate sound. I came in with air conditioning, LED screens, imported sound systems. That’s a lot of money.”

As he said that night in Taboão, the plan is to populate Brazil with the “brides of Christ,” a theological definition for churches, his “heaven on earth branches.” Provided there is plenty of cash.

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.