Report shows increase in social inequality in Brazil

Social inequality in Brazil has increased and the country already presents the worst level of income concentration in the last two decades. This is what the report on global wealth, Global Wealth Report 2021, recently released by Credit Suisse bank, points out.

Brazil has maintained a huge difference between the incomes of the richest and the poorest in the country. According to the study, the slice that corresponds to the richest 1% of the population in Brazil holds almost half of all national wealth. This was the worst result in the country since the year 2000.

With the finding that 49.6% of the national wealth is in the hands of just 1% of the population, the country occupied the second place in the report’s inequality ranking, behind only Russia, where the richest 1% owns 58.2% of the national wealth. The least unequal countries were Italy, France, and Japan.

The data pointed out in the study only highlight and confirm the social inequalities so notable in Brazilian society, especially when we think of cities like São Paulo and Rio de Janeiro.

It is worth noting that Brazil was also the country that lost the most millionaires during the covid-19 pandemic, there were 108,000 according to the report. In 2019, there were 315 thousand millionaires, the number dropped to 207 thousand in 2020.

The study points out that the main reason for the decrease was the devaluation of the Real, caused by the covid-19 pandemic. However, the report also predicts that by 2025 the number of millionaires in Brazil will increase to 361 thousand, reinforcing the social gap and the differences between the richest and the poorest.

We have selected the main news about the report and its results. Check it out!

The richest 1% in Brazil own 50% of the country’s wealth; see Credit Suisse study

Inequality in Brazil grew (again) in 2020 and was the worst in two decades

Inequality increases in Brazil, and 1% of the population has 50% of the wealth

Covid: Why Brazil lost the most millionaires with the pandemic

During the pandemic 1% of the richest people in Brazil concentrated half of the national wealth

Top of the pyramid advances on pandemic and the richest 1% in Brazil already holds half of the national wealth