Candidate declares USD 110 million and scare Brazilians

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The "Partido Novo" candidate for the presidency, João Amoêdo, declared to have a net worth of BRL 425 million (equivalent to USD 100 million) when he applied for registration of his candidacy in the Electoral Justice.

Most of the candidate's assets are distributed among fixed income applications (BRL 217 million), participation in companies (BRL 108.4 million), investment in funds (BRL 55.3 million). The rest includes real estate and vehicles, as well as BRL 1.1 million in the category for jewelry and works of art.

In theory, Amoêdo's assets would allow him to fully bank his own campaign, since the spending limit laid down in law for the first round of the presidential campaign is BRL 70 million per candidate.

At age 55, Amoedo fights for his first election and is the first "Partido Novo" presidential candidate. An engineer born in Rio de Janeiro, he has worked as a financial market executive (Citibank and Itaú) and in civil construction.

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