The total number of billionaires in the region dropped dramatically to 69 in April, from the 100 names in the previous year, according to the 2016 edition of the Top Billionaires in Latin America. The fall in numbers is a testament to the economic slowdown across the region, brought by low oil prices, a slowdown in China, and localized issues such as Brazil’s political and economic ongoing crises. The total fortune of the 69 magnates in the list reached $299.2 billion, compared with the $415.1 billion from 2015. The biggest fortunes were hit the hardest. Case in point is Mexico’s Carlos Slim with an estimated fortune of $50 billion, down 35 percent from the $77.1 billion last year. Another example from […]
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