Brazil's richest bankers lose USD 10 billion after Lula's victory

FinanceInternationalInfobaeOct 26, 2026, 1:24 PM35 s readAI summary

Brazil's richest bankers lost about 10 billion dollars on Monday, after Luiz Inácio Lula da Silva's election victory triggered a slump in local markets that forced the stock exchange to suspend trading. The 10 Brazilians on Bloomberg's billionaire index lost a combined 15 billion by midday in New York, the largest single-day drop since 2012. André Esteves of BTG Pactual lost 4.4 billion; David Vélez of Nu Holdings, about 2.6 billion.

In 35 seconds

The 10 Brazilians on Bloomberg's billionaire index lost 15 billion dollars by midday, the largest single-day drop since 2012
André Esteves, founder of BTG Pactual, lost 4.4 billion, about 30% of his 11.3 billion fortune
David Vélez of Nu Holdings saw his fortune fall by about 2.6 billion dollars

Read the full story at Infobae

IASummary generated by artificial intelligence from a story by Infobae. It may contain errors: the original source prevails.

Brasil
Lula
multimillonarios
mercados
banca

Comments

Be respectful. Comments reported by several people are hidden until a moderator reviews them.

You do not need an account to read, only to comment. Sign in with a code sent to your email or with your Google account. We only show the name you choose, never your email.

Keep reading

IMF backs economic rescue bill as Banco de la República calls for rigor in its review
The International Monetary Fund expressed support for the economic rescue bill submitted by Colombia's national government to Congress, calling it a significant step to address the fiscal challenges inherited by the new administration and to strengthen the country's fiscal sustainability. Banco de la República general manager Leonardo Villa asked for the bill to be studied rigorously, while the government warned of negative consequences if it is not approved. The legislative debate is set to begin in the coming weeks.
FinanceColombiaNoticias RCNNov 3AI
Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA
Colombia's parks and attractions industry generated US$1.095 billion in revenue in 2024, 57% more than the US$698 million recorded in 2022, according to a study by the Global Association for the Attractions Industry (IAAPA). The country ranks sixth in sector revenue in the region. Visitors topped 11.2 million in 2024, 45.5% more than the previous year, and the offering reached 988 attractions, with museums and science centers as the largest group.
FinanceColombiaEl TiempoNov 3AI
President requests urgent congressional passage of fiscal adjustment bill
President Abelardo de la Espriella asked Congress to give urgent and insistent passage to the fiscal adjustment bill promoted by Finance Minister Miguel Gómez, citing Article 163 of the Constitution and Law 5 of 1992. The request, also signed by acting Interior Minister Iván Cancino, gives the bill full priority and convenes joint committee sessions. The initiative includes a 15% reduction in the state structure and tax adjustments that would affect the household basket.
FinanceColombiaPulzoNov 3AI
Oil edges lower after U.S. bombs Iran ahead of Election Day
Oil prices swung back and forth on Tuesday and extended losses from earlier in the week, on a day marked by U.S. bombing of Iran ahead of the elections. Major oil stocks also fell, including Chevron and ExxonMobil.
FinanceInternationalInvestor's Business DailyNov 3AI

Brazil's richest bankers lose USD 10 billion after Lula's victory

In 35 seconds

Comments

Keep reading

IMF backs economic rescue bill as Banco de la República calls for rigor in its review

Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA

President requests urgent congressional passage of fiscal adjustment bill

Oil edges lower after U.S. bombs Iran ahead of Election Day