Former World’s 8th Richest Man Loses $34.5 Billion

Discussion in 'The Howard Stern Show' started by MutteringJohn, Jul 26, 2013.

  1. MutteringJohn

    MutteringJohn Well-Known Member

    Reputations:
    12,282
    Joined:
    Jan 16, 2012
    Messages:
    14,083
    Likes Received:
    17,154
    Brazil businessman Eike Batista has seen better days.
    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.â€
    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.


    Yesterday, Mubadala Development Co., a sovereign-wealth fund out of Abu Dhabi, converted an investment in Batista's companies into debt, further eroding the value of his overall assets. EBX Group Co., Batista’s commodities empire, now owes $1.5 billion to Mubadala. And that put Batista over the edge, reducing his personal wealth to millions, not billions anymore. Miller says he “tended to oversell the amount of resources it had,†and that Batista would have to “constantly borrow against one company to pay for the needs of others.â€
    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."
    What was behind his ambition?
    "I suffered very heavy asthma, so my mother threw me in the cold swimming pool," Batista said. "So I cured my asthma through discipline, and I saw that you could achieve things by performing, and it's part of my DNA… I'm very competitive."
    Well, Batista now has one year and five months to earn back $66.8 billion.

     
  2. sloth22

    sloth22 Active Member

    Reputations:
    0
    Joined:
    Apr 6, 2012
    Messages:
    388
    Likes Received:
    208
    Poor baby...
     
  3. StRyDeRxX

    StRyDeRxX Bling Bling Gold

    Reputations:
    825
    Joined:
    Mar 4, 2012
    Messages:
    11,924
    Likes Received:
    13,310
    Fuckem... :coffee:
     
  4. unclefreddy

    unclefreddy Well-Known Member

    Reputations:
    1,539
    Joined:
    Jun 4, 2012
    Messages:
    2,136
    Likes Received:
    3,390
    200 million dollars. Whadyu fink, I'm a monkey dishwasher

    [video=youtube;y1cvWMGjMS8]http://www.youtube.com/watch?v=y1cvWMGjMS8[/video]
     
  5. dawg

    dawg In The Dog House Staff Member

    Reputations:
    28,126
    Joined:
    Aug 19, 2010
    Messages:
    124,464
    Likes Received:
    101,115
    We will hear of his suicide next.
     
  6. TaTa Toothy

    TaTa Toothy Active Member

    Reputations:
    0
    Joined:
    Jun 15, 2012
    Messages:
    1,072
    Likes Received:
    8
    "His net worth today: $200 million."

    He better start cutting out coupons to make ends meet.
     
  7. UnElegant 1

    UnElegant 1 Member

    Reputations:
    0
    Joined:
    Jan 16, 2012
    Messages:
    506
    Likes Received:
    13
    Batista, who has been called the Donald Trump of Brazil, may have suffered one of the “worst wealth losses in history,”

    Following Trump's example
     
  8. Schmoopy

    Schmoopy Shit Mult Hunter Gold

    Reputations:
    9,769
    Joined:
    Aug 25, 2010
    Messages:
    214,282
    Likes Received:
    39,227
    [video=youtube;VwCBYP9uJpM]http://www.youtube.com/watch?v=VwCBYP9uJpM[/video]
     
  9. AGT Blows

    AGT Blows Well-Known Member

    Reputations:
    0
    Joined:
    Dec 30, 2011
    Messages:
    10,616
    Likes Received:
    6,070
    Poor guy. I hope he at least sold his Apple stocks.
     
  10. Senator Rick

    Senator Rick Well-Known Member

    Reputations:
    0
    Joined:
    Jan 15, 2012
    Messages:
    17,278
    Likes Received:
    21,345
    fuck the bastard dead -he smells poor
     
  11. chapped

    chapped Well-Known Member

    Reputations:
    3
    Joined:
    Jan 6, 2012
    Messages:
    55,631
    Likes Received:
    61,912
    good to see you again Senator
     
  12. DanMullins

    DanMullins New Member Banned User

    Reputations:
    0
    Joined:
    Mar 3, 2013
    Messages:
    715
    Likes Received:
    0
  13. usedtampon

    usedtampon Well-Known Member

    Reputations:
    0
    Joined:
    Dec 13, 2011
    Messages:
    903
    Likes Received:
    536
    Don't count him out. He's come up with a plan to get Supporters to make up the difference. [​IMG]
     
  14. FlaFlaFlunkie

    FlaFlaFlunkie Fabulous!

    Reputations:
    0
    Joined:
    Dec 19, 2011
    Messages:
    42,557
    Likes Received:
    14
    Poor baby... :coffee:
     
  15. psyllium husk

    psyllium husk New Member

    Reputations:
    0
    Joined:
    Jan 15, 2012
    Messages:
    1,621
    Likes Received:
    4