Latin America’s billionaires were better prepared for the current economic slowdown in the region. The continuous drop in their fortune since its peak in 2013 is still smaller than the steep fall during the 2008-2009 crisis, which struck the world by surprise and led to the billionaire’s total fortune plummeting 40 percent. This gives an interesting new view to the reaction of countries and large investors to the changing world economic conditions. On one hand it shows that the billionaire-owned firms are faring better now, after the expected negative downturn of the commodity cycle, than after the unexpected international financial crisis. This is not to say that there were no casualties in 2013-2015. In fact there were heavy losses. Recession […]
Despite losses, Latin America’s billionaires were better prepared for crisis
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