BLOOMBERG · 2026-10-25 23:52 UTC

Lula Wins a Record Fourth Term in Brazil in a Surprise Comeback

Luiz Inácio Lula da Silva won Brazil's runoff election with 51% of the vote against Flávio Bolsonaro's 49%, securing an unprecedented fourth term as president. The 80-year-old's comeback halts a right-wing wave in Latin America and defies predictions of his political decline, though he faces significant economic challenges including high deficits, debt, and rising personal loan defaults. Lula must navigate deep political polarization and build coalitions to address institutional fragility, despite his victory sending a strong message to the radical right.

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