Overview
- Oxfam reports 109 multimillionaires in Latin America and the Caribbean holding about US$622 billion, up 14 people since late 2024 with fortunes rising 39% in the past year and 443% since 2000.
- The group warns that weak wealth and inheritance taxation enables elite influence, noting 53.8% of the region’s superrich inherited assets and 65% of their wealth sits in finance, telecoms, media and energy.
- New country tallies show Brazil’s richest hold roughly US$253.2 billion, with Mexico second at about US$219 billion concentrated among 22 people, followed by Chile, Colombia and Argentina.
- Roughly 400 wealthy individuals from 24 countries released a Davos letter urging higher taxes on the ultrarich, with signatories including Mark Ruffalo, Brian Eno and Abigail Disney.
- An accompanying Survation poll of 3,900 millionaires finds eight in ten perceive excessive political influence by the ultrarich, 71% say extreme wealth can sway elections and 61% see inequality as a threat to democracy.