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Portugal with over 19,430 millionaires a year of the pandemic. The richest 1% owns a fifth of the fortune – Observer

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Portugal with over 19,430 millionaires a year of the pandemic.  The richest 1% owns a fifth of the fortune - Observer

Even despite the pandemic and its impact on the national economy and household incomes, Portugal has won millionaires over the past year. According to the latest World Wealth Reportreferring to 2020 – a year marked mostly by Covid-19 -, There are 136,430 millionaires in Portugal., 19,430 more than in the 2019 report

In fact, the number of millionaires – people with fortunes exceeding one million dollars (about 840 thousand euros) – in Portugal has been growing in bank accounts since 2015, when 51,000 people were counted with more than a million wealth. dollars. That year there was a decrease compared to 2014 (76,000), possibly due to the effects of the financial crisis. In a report published in October 2019, with data up to the middle of this year, Credit Suisse identified 117,000 millionaires in the country, which rose to 136,430 in 2020. The bank has just started publishing data for Portugal on the number of millionaires since 2014.

Disaggregated data from Credit Suisse show that in 2020 128,772 people with a condition between million and five million dollars, 5.505 as between five and ten million, 2,056 with wealth between 10 out of 50 million… In the richest group they 72 as between 50 and 100 million e 24 between 100 and 500 millionA person have a fortune more than $ 500 million

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This estimate differs from other rankings such as Forbes (which counted at least ten Portuguese with fortunes of over € 500 million in 2019). Credit Suisse takes Forbes’ calculations into account because, “although they can be criticized in some respects,” they apply “consistent practices across countries.” But there are a few more factors that need to be weighed in bank accounts.

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Credit Suisse notes that there are other reports with numbers below those the bank has published and explains the discrepancy: it says that many ratings only take into account “investment assets” (which include bank balances, certificates of deposit, mutual funds, stocks and bonds), which in turn “do not include owner-occupied homes.” Thus, the bank weighs both financial and non-financial assets as well as debt.

Estimates are also based on data from national household income statistics agencies. “The goal is to provide comprehensive coverage of assets that people would recognize as part of their personal wealth: housing, land, savings, investments, etc.,” Including pension funds.

According to the report, in percentage terms, the group grew the most from 5 to 10 million (an increase of 19%, more than 885), but in absolute terms, this was the range from one million to five million, which received the richest (there were plus 18,075, an increase of 16%).

This growth was enough to compensate for the gap in the richest groups (among the richest). For example, in 2019 there were two people with fortunes of over 500 million; by 2020, that number had halved. Another example: in states of 100 to 500 million, the number of millionaires fell by 14%, from 28 in 2019 to 24 in 2020.

These figures are in stark contrast to poverty, which has increased in Portugal over the past year. One study Information released on Tuesday by the Catholic University shows that more than 400,000 people have fallen below the poverty line due to the pandemic crisis, which has exacerbated the gap between the rich and the poor in Portugal.

COVID-19. Pandemic crisis has thrown 400,000 people into poverty, study

In addition, 8.3 million Portuguese adults each have an average net worth of $ 142,537, up from $ 131,088 recorded in 2019. This is almost three times more than at the beginning of the millennium (52,357). In terms of debt, data from Credit Suisse show that there is an average of $ 20,389 for every Portuguese adult.

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According to Credit Suisse, there are over five million millionaires worldwide, with a total of 56.1 million.

The numbers also allow us to see how much of an inequality Portugal remains. In 2020, a limited portion of the richest 1% owned 20.1% of the country’s wealth, one tenth more than in 2019. The richest 10%, in turn, concentrate more than half of the wealth – 56.2%. At the other end of the scale, half of the population has only 6.5%, and that number is declining: in 2019, before the pandemic, the figure was 7.2%.

Globally, the data is even more worrisome: “We estimate that 50% of the world’s poorest wealth together account for less than 1% of global wealth at the end of 2020. In contrast, the richest decile (richest 10%) has 82% of the world’s wealth, while only the highest percentile (richest 1%) has nearly half (45%) of all assets, ”writes Credit Suisse.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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