Markets Magazine

Brazil’s Rich Show No Shame Building Homes in Nature Preserves

Lock
This article is for subscribers only.

From the sparkling, emerald-green waters of the Atlantic off the east coast of Brazil, Cavala Island looks like a tropical paradise of lush vegetation framed by giant rocks. It’s also where millionaire Antonio Claudio Resende, a founder of Latin America’s largest car-rental company, became a squatter.

There, starting in 2006, he cleared pristine jungle where wild bromeliad flowers grow to make way for a 1,752-square-meter mansion, according to the Rio de Janeiro state environmental agency. The house -- which is built partially underground and hidden by surrounding lush forest -- is visible only from above by aircraft.