Eike Batista lost 99% of his fortune
In 2012 Eike Batista was to be worth $34,5 billion and now it’s estimated that he is worth around $ 200 mill. So in one year loosing $34,3 billion – that’s a lot of money… (this is in worth not in cash). Read more at Bloomberg.
He is still rich though
Richest man in Brazil
He is an entrepreneur and business magnate from Brazil, who made his fortune in mining and later oil and gas industry. But he has been building many companies through his life.
For a long time he has been the richest man in Brazil, and lots of people here are admiring him.
Living on a big lie?
It all went downhil when the market discovered that his announcements and estimations of oil productions in his companies, were found as fraud. Announcing huge oil productions (but only made 2% of it), announcing having license to big oil fields of the coast of Brazil but didn’t have really. So since 2008, when OGX went public, they have announced and publicated lots of wrong information – and cheated a lot of people to invest. And now as the truth reveils, its all coming down…
Will it stop here? I don’t think so.
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