Edir Macedo Net Worth

Edir Macedo Net Worth: Edir Macedo is a Brazilian religious leader and prominent media baron who has a net worth of $1.1 billion. New to the billionaire circles, Edir Macedo is the Chairman and Owner of Brazil’s second largest television network Rede Record. Raised as Catholic, Macedo converted to a Pentecostal by the early 1970s. It was in 1977 that he established his own denomination in Rio de Janeiro, the Universal Church of the Kingdom of God. Over the years, it has evolved into one of the largest and at the same time most controversial religions in Brazil. Pentecostal is a renewal movement within Christianity that follows the “prosperity theology”, i.e., supporters of the sect believe that faith and commitment to a church are rewarded with wealth. However, the majority of Macedo’s fortune comes from his ownership of Rede Record, which he purchased in 1990 from fellow billionaire Silvio Santos. Many assume that he used church funds to make the acquisition. But that’s not all as he also owns W67CI, a Telemundo affiliate based in Atlanta. His 2012 biography, which among other things chronicles the 11 days he spent in jail in 1992 on accusations of charlatanism, topped Brazil’s best-seller list for six consecutive weeks.