Get-Rich-Quick Ad Goes Viral in Brazil
It’s been a busy week in Brazil. Stocks reached a record, President Jair Bolsonaro made a splash in Washington, the government delivered the second part of its pension reform plan, and former President Michel Temer was arrested, sending markets tumbling and erasing most of this year’s rally.
And then there’s Bettina Rudolph.
The 22-year-old became an overnight meme after a viral video where she says she became a millionaire (in local currency) in just three years after starting with some 1,500 reais ($400) -- a return of about 66,000 percent. The claim that anyone could do the same created a buzz in Sao Paulo’s financial district and caught the eye of the market watchdog.
The controversy goes to show how prevalent retail investing is becoming in Brazil as the fund industry booms amid record low rates and a chase for yield among a general public who typically invested only in low-risk notes tied to the central bank rate.
In the video, part of an ad campaign for research firm Empiricus, known for its aggressive marketing strategies, she vows to show viewers how to “earn their first million reais” using research from the firm, where she works as a copywriter. Hashtags about the video quickly rose to top trending topics on Twitter in Brazil. The comments are a mix of jokes, mostly negative and often tied to her privilege and social status -- similar to the criticism of Kylie Jenner’s self-made billionaire status.
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