Business

Brazil's Lula wins historic presidential election; Bolsonaro reportedly refuses to concede

CNBC·Oct 26, 2026 · 3:05 AM CT
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Luiz Inácio Lula da Silva won a fourth term as Brazil's president, beating Senator Flávio Bolsonaro 51.8% to 48.2% in a runoff after losing the first round — a first since Brazil restored direct elections in 1989. Bolsonaro refused to concede and said he would seek to annul the result, Reuters reported, after voting was extended two hours amid voter-suppression complaints and heavy rain.

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