The Olympics were supposed to be Brazil’s chance to show off its progress toward developed-nation status. Instead, they reveal a country still haunted by violence, mismanagement, economic crisis and corruption.
In the host city of Rio de Janeiro, investigators have recently uncovered millions of dollars in bribes skimmed from Olympic projects. This adds to the cost of an already wasteful event, but the backstory also reveals how Brazil’s elites hold on to power.
Some of Brazil’s richest families are at the heart of the Olympic scandals. I dug into their lives while working as a 'Billionaires Reporter’ for Bloomberg News in São Paulo, where I covered the ultra-rich as a full-time job. This gave me a rare window on one of the world’s most unequal countries, where money and influence have long been concentrated in few hands.
Describing his country in the 1970s, a Brazilian economist coined the term Belíndia - islands of Belgium inside a sea of India - and in many places, it still rings true. Full story...
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In the host city of Rio de Janeiro, investigators have recently uncovered millions of dollars in bribes skimmed from Olympic projects. This adds to the cost of an already wasteful event, but the backstory also reveals how Brazil’s elites hold on to power.
Some of Brazil’s richest families are at the heart of the Olympic scandals. I dug into their lives while working as a 'Billionaires Reporter’ for Bloomberg News in São Paulo, where I covered the ultra-rich as a full-time job. This gave me a rare window on one of the world’s most unequal countries, where money and influence have long been concentrated in few hands.
Describing his country in the 1970s, a Brazilian economist coined the term Belíndia - islands of Belgium inside a sea of India - and in many places, it still rings true. Full story...
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