Argentine Banker Rides Macri Stock Rally to Become a Billionaire

Source: Bloomberg
By: Blake Schmidt
08.01.2016

Argentine banker Jorge Horacio Brito just became a billionaire and he has President Mauricio Macri to thank for it.
As chairman, chief executive officer and the largest individual shareholder of Buenos Aires-based Banco Macro SA, Brito’s wealth has surged with Wall Street’s embrace of Macri’s finance-friendly policies.

Brito, 64, who doesn’t appear on any international wealth ranking, joins the Bloomberg Billionaires Index with a net worth of $1.2 billion, mostly from a 20 percent stake in Macro valued at more than $850 million. The bank’s 21 percent rally in U.S. dollar terms this year is the largest among Argentina’s four biggest publicly traded banks, which have been buoyed by the new president’s support for the financial industry in South America’s second-largest economy.

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