Brazilian billionaire Eike Batista is no longer one of the world’s 100 richest people.

The over-hyped billionaire’s fall from the ranking comes as OGX Petroleo & Gas Participacoes SA, the centerpiece of Batista’s empire of interlinking commodity startups, has lost more than three quarters of its market value in the past 12 months after delivering a series of production disappointments. So far this year, the company has disclosed a drop in output at its main field and reported a dry hole at one of its wells.

“He has not executed but, to my mind, that’s because he had too much on his plate,” said asset manager Ian McCall from Quesnell Capital.

Batista was Brazil’s wealthiest individual when his wealth peaked at $34.5 billion in March last year (now it’s at about US$10 billion). In an interview with Bloomberg News that month, he called himself the exemplar of a new “Brazilian dream” of entrepreneurial success, and said he would overtake Carlos Slim as the world’s No. 1 by 2015. After he repeatedly failed to meet goals and timetables for his six publicly traded companies, a sell-off erupted in June when OGX reported lower-than-expected production.

Source: Bloomberg

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10 Responses to Where is Eike???

  1. jayme says:

    i remember back in 2007/2008 i guess when eike first popped up at the average public eyes and he started all that megalomaniac speech “i will be the richest man ever..” and i said : “this guy will end up just like those russian gas oligarchs…couple years at the top.. then be vanished.. not to mention all the other similarities, governament connections, commodities, emerging economies” just history repeating itself but this time in another country

    i guess i should start believing

    well, i do believe euro is an illusion

  2. Rodrigo Rodrigues(Official) says:

    Notorious for his lack of modesty, Eike Batista has long flaunted his wealth and touted his net worth as a multibillionaire.
    He has milked money out of ventures under the protection of the corporate veil. He has received government subsidies for his businesses. 
       These matters would be somewhat aggravating or maybe downright deserving of grand jury investigation. 
    As is typical with demagogues, he says the answer to the country’s problems is – him. He has no serious program, no agenda, no new ideas other than to obtain power and support for himself.
    Naive Brazilians don’t  understand that the resources you need to be abundant of is not natural  resources, but Human resources.
    Brazil´s detailed mineral map is supposedly the main asset he inherited from his father (the brain behind the military government project to boost mineral exploration in Brazil). It seems that he also inherited a few million bucks, which may have helped a lot. But it is true that he has his own skills. Selling wind at gold prices is one of them. People believe he is capable to deliver whatever he promised, relying as much on Eike´s strategic abilities as on his privileged connections within the government.
     If you  look his interviews, photos since many.many years ago, in terms of psicology, besides being
    selfcentered, megalomaniac, narcisist, he loves to be portraied as like as a good and modern entrepeneur, someone that supports and give tons of money to improve Rio de Janeiro, only cause he care, love Rio. But there is much more beyond his attitudes, he needs to be seen like the BEST, The richest man around the World.
    I will never forget an interview he gave to Marilia Gabriela a few years back where he stated that his father never helped him,that in the beginning he had no money, he went to some jews in Copacabana or Leblon and  he was to able to convince them of his idea , well, miraculously on the following day he secured 500k dollars on loans ,no collateral ,no guarantees, no complicated inquiries.

  3. frank stein says:

    THE GUY IS JUST A SERIAL LIER, A COMPLETE FRAUD AND A FAILURE. ONLY IN BRAZIL THERE ARE ENOUGH STUPID PEOPLE TO LET HIM GO SO FAR. FOR WHAT I KNOW HE DOES NOT PAY TAXES, POLLUTES THE ENVIRONMENT AND GRABS PUBLIC ASSETS SUCH AS MARINA DA GLORIA. IN CIVILIZED COUNTRIES HE WOULD BE BEHIND BARS. TO MAKE THINGS WORSE, HE PROCREATED AND HIS OFFSPRING HIT A MAN WHILE SPEEDING IN THE HIGHWAY. THE CAR WAS REMOVED TO TAMPER WITH EVIDENCE AND EIKE’S MONEY ULTIMATELY LED TO ALL CHARGES BEING DROPPED. THE MONSTER IS FREE TO KILL AGAIN. THAT IS BRAZIL.

  4. dener says:

    Of just looking at his face pics in websites news disgusts me.
    This guy depicts exactly the Brazilian elite considering them very lucky with so much poverty around.
    This country is not doing anything in order to balance its society and reform the vast problems left in the past.

    How can investors see long term profitable business in a country without any plans?
    No education, no security, no improvement in democracy, no infrastructure, more corruption, less transparency, no justicy.

    I see everywhere no improvement, the only thing that changed in the last ten years was household incomes, employment (most bad quality jobs), more cars in the streets and less claimers of a good public transport.

  5. Victor Fox says:

    well well well. at best, Brazilian laws are twisted to the tail… We have ridiculous high taxes, hard civilian gun control, a socio-communist president… these so called medallions as the Batista dude are always out of jail, his older son killed a poor guy last year in car crash (no respect for speed limits, dad is eike batista and grandpa was former president minister and CEO of vale do riodoce…

    Me? Worry… Nah!

    (run to the hills…)

  6. frank stein says:

    Brazilian government politicians, such as Lula and Dilma, are so stupid that they have no clue that this guy is the poster boy of what is worse in Brazil. Being associated with him blows up their disguise and reveals their hypocrisy.

  7. McIvor says:

    The guy is a clown.

  8. McIvor says:

    And represents what is worse in Brasil.

  9. I WAS PLANNING TO INTERVIEW EIKE BATISTA BUT THESE COMMENTS ABOVE ENLIGHTENED ME ABOUT HIS WAYS OF CONDUCTING HIMSELF AND DOING HIS BUSINESS, IF IT IS BELIEVED TO BE TRUE, WHICH IS UNACCEPTABLE IN A CIVILIZED SOCIETY. I DON’T THINK HE FITS IN THE SCHEME OF MY MAGAZINE WHICH CARRIES AN INTERVIEW OF A BILLIONNAIRE FROM EACH COUNTRY SIMPLY BECAUSE WE INTERVIEW THE BILLIONNAIRE UNDER THE COLUMN ENTITLED “LEARNING FROM THE LEADERS – …”, FOR WHICH NOW I THINK HE CAN NOT BE CONSIDERED. CAN ANYONE FROM BRAZIL SUGGEST SOME REALLY GENUINE BILLIONNAIRE WHO IS AN ETHICAL BUSINESS PERSON AND HAS SET AN EXAPLE FOR THE COMING GENERATIONS?
    MY EMAIL ID IS : editor.igtindia@gmail.com

  10. Brazilian Bubble says:

    Jorge Paulo Leman, Arminio Fraga, Andre Esteves…

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