Juan Pablo Spinetto, Columnist

We Need More Millionaires and Billionaires in Latin America

Entrepreneurs like Marcos Galperin and David Vélez built empires from scratch to the benefit of the world’s most unequal region.

June 25, 2025 at 10:00 AM UTC

By Juan Pablo Spinetto

JP Spinetto is a Bloomberg Opinion columnist covering Latin American business, economic affairs and politics. He was previously Bloomberg News’ managing editor for economics and government in the region.

Latin America needs more of David Vélez’s secret sauce.
Photographer: Tuane Fernandes/Bloomberg/Getty Images

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We don’t have enough millionaires in Latin America.

Given that we are talking about the world’s most unequal region, already home to some of the richest individuals on Earth, that may sound very Gordon Gecko of me. But hear me out.

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