Six Brazilians are as rich as half of country's population: study

The six richest men in Brazil have as much money as the poorer half of the Brazilian population has, showed a study released by British NGO Oxfam on Monday.

The study shows that the fortune of Carlos Alberto Sicupira from beverages company AB Inbev, Joseph Safra (Safra Bank), Eduardo Saverin (Facebook) and three other rich men are as rich as 100 million average Brazilians, almost half of the country’s population.

The richest 5 percent of the population concentrates as much money as the remaining 95 percent of the population.

In addition to the inequality between the rich and poor, the study also reveals gaps among other groups in Brazil. Black Brazilians continue to earn less than white citizens, and women continue to earn less than men.

Brazil is the third most unequal country in Latin America, surpassed only by Colombia and Honduras, according to Oxfam.

Oxfam representative Katia Maia highlighted the need to reduce inequalities as a priority, saying Brazil’s inequality levels are unacceptable.

(ASIA PACIFIC DAILY)