Eike Batista

Eike Batista

Postby winston » Thu Mar 10, 2011 12:48 pm

Here is the Forbes 2011 ranking of the top 10:

8. Eike Batista (Brazil) - $30 billion, mining, oil

A half-German college dropout who for years struggled to emerge from the shadow of his well-known father, Batista has long said he wants nothing less than to be Brazil's and the world's richest person.

Everything about the 53-year-old -- from the Mercedes-Benz SLR McLaren sports car he keeps as decoration in his parlor to the "X" in the name of all his companies that represents wealth multiplication -- screams of unashamed ambition.

A top-class speedboat racer who was married to a famous Rio de Janeiro Carnival queen, Batista dined with U.S. pop star Madonna in Rio last year and, according to local reports, handed her a check over dinner for $7 million as a donation for her social projects.

He has a burning ambition to transform Rio into a modern, thriving city. Just before Rio was awarded the 2016 Olympic Games, he bought up a nearby marina that will be a hub of the games -- an example of his eye for a well timed deal.

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Eike Batista

Postby winston » Tue Jul 31, 2012 6:19 pm

How to Lose $6 Billion in 48 Hours By Robert Frank

Brazilian mining magnate Eike Batista loves to talk in superlatives.

He's the richest man in Brazil and talks frequently about becoming the richest man in the world. His autobiography is sub-titled "The Path of Brazil's Greatest Entrepreneur." And whether it's racing speedboats or marrying Playboy models, he lives life to the maximum.

But now, Brazil's Donald Trump may have set a new record - for the largest amount of wealth lost in 48 hours.

According to an article in the Los Angeles Times, Batista lost $6 billion of his paper fortune in two days as the stock of his oil company plunged 40 percent in two days in June.

The immediate problem was that his company cut production targets. The larger issue is that the perpetual promoter described as a "one-bubble man" has a history of promising more than he can deliver. And, of course, he has ridden the Brazilian asset-boom all the way to the top.

Batista's fall may, in fact, make him the King of the High-Beta Rich. In our current age of sudden wealth and sudden-wealth loss, where fortunes are tied to quick-trading paper rather than real assets, it's hard to find another case where someone has lost so much money so quickly.

Batista is still rich, with a total fortune at $15 billion, or half of his previous peak of $30 billion. And there may be others who have lost a larger percentage of their wealth in 48 hours. But losing $6 billion in 48 hours appears to be a record in recent history.

http://sg.finance.yahoo.com/news/lose-6 ... 36888.html
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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