A show of wealth that further demonstrates that Brazil’s coup-installed government represents the country’s top elite, unelected President Michel Temer’s seven-year-old son Michel Miguel, better known as Michelzinho, reportedly owns at least two properties worth over US$555,000, local media reported Monday.
According to public data cited in the Brazilian daily Estadao, Temer made a so-called “donation” to his youngest son as way to “anticipate the inheritance” for his only child of his marriage with Marcela Temer.
Michelzinho's real estate holdings include two commercial buildings in the Itaim Bibi area of Sao Paulo both with a market value of over US$280,000. The complexes are home to Temer’s PMDB party offices.
According to Estadao, Temer’s assets have expanded rapidly since 2006.
In two and a half weeks since taking over from Dilma Rousseff after the Senate voted 55 to 22 to suspend her for 180 days to face an impeachment trial, Temer has unveiled a staunch austerity agenda with cuts to social spending, privatization plans, and expanded access to Brazil for foreign corporations.
If the Senate, overseen by the Supreme Court, ultimately decides to impeach Rousseff with a two-thirds majority vote after the trial, Temer will be permanently installed as president until 2018.