Officially known as the Federal Republic of Brazil, Brazil is bounded by the Atlantic Ocean on the east side and was once a colony of Portugal until 1815, when it was elevated to the rank of kingdom upon formation of the United Kingdom of Portugal, Brazil, and the Algarves.
The Brazilian Federation is that the "indissoluble union" of the States, the Municipalities, and therefore the territorial division. It is set upon five fundamental principles of sovereignty, citizenship, the dignity of human beings, the social values of labor and freedom of enterprise, and political pluralism.
Brazil is that the largest financial set-up in Latin America, the world’s seventh largest economy at market exchange rates and therefore the seventh largest in buying power parity, in step with the International Monetary Fund and the World Bank.
It has a mixed economy with abundant natural resources and has been predicted to become one of the five largest in the world in the decades to come.
With an economy like that, it is bound to have quite a few billionaires, with the richest having a bank balance of over $17 billion and the poorest having a bank balance of almost $2 Billion.