Last March the Brazilian tycoon ranked as the world’s eighth richest person with a net worth of $34.5 billion. His net worth today: $200 million, according to Bloomberg Billionaires.

“He was the face of Brazilian capitalism. He’s mired in debt. This is a tragic fall for him,” says Bloomberg’s Matt Miller.

Miller explained how EBX Group Co., Batista’s commodities empire, “tended to oversell the amount of resources it had,” and Batista would have to “constantly borrow against one company to pay for the needs of others.”

Unlike billionaires Bill Gates and Warren Buffett, Batista was ostentatious about his wealth, even declaring that he would overtake Mexico’s Carlos Slim for the world’s richest person title by 2015. He told Bloomberg: “Just give me time, let me work please.”

But time hasn’t helped him much.


Tagged with:  
Share →

3 Responses to Bloomberg: Eike Batista may have suffered one of the “worst wealth losses in history”

  1. C Young says:

    Its a dramatic fall not a tragic fall. The guy that Thor ran over, that was a tragic fall.

  2. FRANK STEIN says:

    In other words, Batista is a dumb crook.

  3. gordon says:

    OGX, how many billions spent with nothing to show for it? And after hiring the best from Petrobras seems like this is all smoke and mirrors, no? Something smells funny.

Leave a Reply

Your email address will not be published.

4 + 7 =

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>