36% of all the current wealth of Milmillonarios is inherited, a figure that rises to 53.8% in Latin America.
The world is experiencing a rapid emergence of new millionaires. Last year 204 new milmonarios appeared. At the same time, from Oxfam it was estimated that The richness of the ten richest men in the world grew on average US $ 100 million per day.
In parallel inequality is the order of the day. The NGO itself reported that the richest 1% in Latin America already accumulates 216 times more wealth than the poorest half.
How those fortunes were formed
Experts explained what is behind these important fortunes. For them, Wealth creation thus focuses on the acquisition of assets and investment diversificationwhile the liabilities are relegated.
Another key is the creation of productive units that generate capital and through strategies such as the compound interest, ensure that returns are maximized. Composite interest is the effect that occurs when the interests that are gained on an investment are reinvested.
When constantly repeated, this process creates a gradual accumulation similar to a snowball in motion. The formula that applies to calculate the compound interest is: Final capital = initial capital X (1+ Annual Interest Rate) ^ Investment time (elevated by the period of time).
Inheritances continue to play a leading role in the transfer of wealth in the world. Oxfam estimates that 60% of the joint richness of the Millonarios “is inherited, is marked by clientelism or linked to monopolistic power.” According to this report: “The extreme wealth of Milmillonarios is largely undeserved.”
Specifically, 36% of all the current richness of Milmillonarios is inherited. Now if we focus on Latin America, the milonariums cut heritage is partial or totally inherited equivalent to 53.8%, above the average of the rest of the world of 37.3%, according to figures disclosed in 2024 by the Economic Commission for America Latina and the Caribbean (ECLAC).
Source: Ambito
