Latin America Has The Fastest Growth Rate For Billionaires Of Any Region On Earth

They buy 10 Porsches a day and travel the world by private jet, toting their Louis Vuitton bags and leaving behind a faint scent of Chanel.
They are Latin America's superrich, and they are multiplying faster than anywhere in the world, coveted by luxury brands keen to tap their buying power but criticized for paying low taxes in a region plagued by inequality.
Latin America, a region of some 600 million people, is home to nearly 15,000 "ultra high net worth" individuals, or people with fortunes of at least $30 million, according to the luxury industry consultancy Wealth-X.
The number rose 5% last year, while the number of billionaires rose to 151, a 38% increase.
That was the fastest growth rate for billionaires of any region on earth.

Porsche is one example. Since arriving in Latin America 15 years ago, the German sports carmaker has increased annual sales to the region from fewer than 300 vehicles to nearly 3,900 vehicles, said George Wills, president of Porsche Latin America, which is based in Miami.
The region's largest economies, Mexico and Brazil, remain the "volume drivers," he said.
"But if you look in terms of the markets themselves, the markets that are enjoying good growth are markets like Peru, Colombia, Panama... with 60% growth in some of them."

Mexico is the world's second-largest market for private jets, behind the US, with Brazil poised to surpass it within the next decade, according to a recent market study by the Brazilian jetmaker Embraer.