Narayan AmmachchiThe wealth of the super-rich in Latin America expanded at a pace 16 times faster than the region’s overall economic growth in 2025, deepening income and wealth inequality, according to a new report by Oxfam.
The report highlights a sharp rise in the concentration of wealth. The number of billionaires in the region climbed to 109, an increase of 14 from 2024. Their combined net worth now matches the total GDP of Chile and Peru combined.
Oxfam notes that the wealth of the richest individuals in Latin America has surged by 443% since 2000. In 2025 alone, their wealth jumped 39%, far outpacing gains seen across the broader economy.
While wealthy individuals have contributed to job creation, the report warns that extreme wealth concentration also translates into disproportionate political influence. This dynamic, Oxfam argues, reinforces structural inequality and weakens democratic institutions across the region.
The organisation adds that Latin American governments have largely failed to channel the wealth of millionaires into broader job creation or policies that could distribute economic gains more evenly. Underscoring the link between economic and political power, the report points out that 16 presidents in Latin America assumed office between 2000 and 2025 after previously leading large corporations.
“Economic poverty breeds hunger. Political poverty breeds outrage,” said Amitabh Behar, executive director of Oxfam.
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