Brazilian billionaires lose US$7 billion in assets in July – Forbes report

RIO DE JANEIRO, BRAZIL – Forbes Brasil estimates that the 67 Brazilian billionaires lost US$7 billion between July 1 and 9.

The total sum of fortunes dropped from US$251.8 billion to US$244.8 billion. The magazine takes into account the assets of Brazilian billionaires and their stakes in companies listed on the stock exchange.

Ambev’s three founders alone – Jorge Paulo Lemann, Marcel Herrmann Telles and Carlos Alberto Sicupira – have lost US$1 billion. The change in value of their fortunes reflects the variation of stock prices in the month of July.

Lemann saw his fortune shrink from US$19.5 billion to US$18.9 billion during the period; Telles’ wealth fell from US$13 billion to US$12.6 billion; and Sicupira’s from US$10 billion to US$9.7 billion.

The heirs of banker Joseph Safra lost US$600 million, shrinking the estate of Vicky Safra and her four children to US$15.5 billion, Forbes reports.

Also according to the magazine, the founder of Rede D’Or, cardiologist Jorge Moll Filho lost US$400 million.

Repositioning

Last week, Lemann lost the position of wealthiest Brazilian to Eduardo Saverin, a Facebook co-founder. Saverin has an estimated wealth of US$19.4 billion and is listed 95th in the global ranking. The change comes after Facebook reached US$1 trillion in market value last week.

Source: Exame

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