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Last March the Brazilian commodities 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.
Batista, who has been called the Donald Trump of Brazil, may have suffered one of the “worst wealth losses in history,” says Bloomberg Billionaires Index editor Matt Miller. “He was the face of Brazilian capitalism. He’s mired in debt. This is a tragic fall for him.”
Most of Batista's problems stem from the erosion of nearly 90% of the value in his flagship company, OGX Petroleo & Gas Participacoes SA (OGXP3). Shares in the business have plummeted in the last year as the company missed targets for production output and reserves...
Batista, who has been called the Donald Trump of Brazil, may have suffered one of the “worst wealth losses in history,” says Bloomberg Billionaires Index editor Matt Miller. “He was the face of Brazilian capitalism. He’s mired in debt. This is a tragic fall for him.”
Most of Batista's problems stem from the erosion of nearly 90% of the value in his flagship company, OGX Petroleo & Gas Participacoes SA (OGXP3). Shares in the business have plummeted in the last year as the company missed targets for production output and reserves...
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