In a recent column, the editor of The Miami Herald, Andrés Oppenheimer, called attention to the increase in the number of Latin American billionaires, based on the 87-page report published by the firm Wealth-X.1 According to the Singapore-based company that sells wealth data to luxury brands, the percentage of Latin American billionaires grew faster than in any other world region in the last year. “I was skeptical: It’s hard to believe that the number of mega-rich is soaring at a time when the region’s economy is hurting,” said Oppenheimer.
Many Latin American countries are home to vast slums that cover large parts of cities. These slums are almost completely disconnected from the infrastructure of the main cities, including roads and public transportation. Cities with large slum populations such as Rio de Janeiro, Mexico City, and Buenos Aires were all built to transport people via automobile and bus with little room for people who can only travel either by foot or by bicycle.