What’s Eike Batista’s Net Worth?
Eike Batista is a Brazilian-German entrepreneur who made a fortune within the oil and fuel and mining industries, turning into one of many ten richest folks on the earth in 2011. As of this writing Eike Batista has a net worth of -$1.2 billion.
The chairman of the conglomerate EBX Group, he spearheaded large-scale infrastructure tasks in Brazil that finally bankrupted his corporations. In 2018, Batista was sentenced to 30 years in jail for bribing Rio de Janeiro governor Sérgio Cabral with the aim of acquiring public contracts.
Between August 2012 and August 2013, Eike Batista’s wealth plummeted at a stunning tempo. His net worth as soon as peaked at $30 billion which made him the tenth richest person in the world and the primary richest particular person in South America.
Early Life and Profession Beginnings
Eike Batista was born on November 3, 1956 in Governador Valadares, Brazil, the second of seven kids of Brazilian businessman Eliezer and German-born mom Jutta. When Batista was an adolescent, he and the household moved to Europe, residing in locations together with Geneva, Switzerland, Düsseldorf, Germany, and Brussels, Belgium. Batista went on to attend the College of Aachen in Germany, the place he studied metallurgical engineering. To make a residing, he labored as a door-to-door insurance coverage coverage salesman.
Returning to Brazil within the early 80s, Batista turned his consideration to the gold and diamond trades. As a salesman, he contacted producers within the Amazon space, in addition to consumers in giant cities all through Brazil and Europe. On the age of 23, Batista began his personal gold buying and selling agency known as Autram Aurem; inside simply over a yr, the corporate had made $6 million. Later, on the age of 29, he turned the CEO of the Montreal-based firm TVX Gold, which established his relationship with international capital markets.
Following his implementation of the Amazon’s first mechanized alluvial gold mining plant, Batista based the EBX Group in 1984. Centered on infrastructure and pure assets, the Rio de Janeiro-based conglomerate consists of corporations equivalent to OGX, which makes a speciality of oil; MMX, which is concerned in mining; and OSX, which handles offshore business. Between 1980 and 2000, Batista raised $20 billion in worth via the operation of gold and silver mines in Brazil, Canada, and Chile. The EBX Group can also be answerable for implementing Brazil’s first commercial-scale solar energy plant, in Tauá. In March of 2011, the group acquired inventory management of the Canadian mining agency Ventana Gold, which owns mineral rights in Colombia’s historic, gold-rich California-Vetas mining area.
Along with its work within the infrastructure and pure assets sectors, the EBX Group invests in areas equivalent to leisure, expertise, actual property, and air and rail catering. Its actual property firm, REX, focuses on city improvement and income-generating belongings, and has a portfolio that features Resort Glória, MD.X Medical Heart, and R3X Leblon Enterprise Heart. General, EBX Group helps over 170 social and environmental initiatives throughout Brazil, together with historic and cultural preservation.
Reversal of Fortune
Batista was as soon as the seventh wealthiest particular person on the earth, with a net worth of round $35 billion in early 2012. He usually boasted that he would overtake Mexican enterprise magnate Carlos Slim to turn into the richest man on the earth by 2015. Nonetheless, inside a bit over a yr of his net worth reaching its peak, Batista’s wealth plummeted to $200 million. This was due largely to the quite a few money owed he accrued from engaged on large-scale tasks, and to the falling inventory costs of the EBX Group. His losses had been additionally brought on by a downturn within the treasured steel mining business, along with the large collapse of his OGX firm, which was solely delivering 15,000 barrels a day when it claimed to be pumping 750,000. Between March of 2012 and January of 2014, Batista’s wealth decreased by greater than 100% to a detrimental net worth. In early 2015, Brazilian authorities seized money and 7 vehicles from Batista.
Since his historic losses, Batista has written about his fall from the billionaire ranks. He has said that he regrets launching his corporations within the inventory markets, and that he ought to have used a non-public fairness mannequin to finance his ventures.
Arrest and Jail Sentence
In early 2017, Batista was one among 9 people issued a detention by Brazilian authorities as a part of Operation Automobile Wash, a high-profile cash laundering investigation. Upon his return from New York, he was detained in a most safety jail within the Rio de Janeiro neighborhood of Bangu, and was shortly after charged with making $16.5 million in bribes to Sérgio Cabral, the disgraced former governor of Rio de Janeiro. In July of 2018, Batista was convicted of bribing the governor with a view to safe state authorities contracts. He was finally sentenced to 30 years in jail.
In 1991, Batista wed mannequin and actress Luma de Oliveira, with whom he had two sons, Olin and Thor. The couple divorced in 2004. Subsequently, Batista turned romantically concerned with lawyer Flávia Sampaio; collectively, that they had a son named Balder.
An fanatic of operating, swimming, and marine sports activities, Batista competed in offshore powerboat racing within the Nineteen Nineties. Within the Tremendous class, he was the Brazilian, US, and World Champion. Later, in 2006, Batista traveled the 220-nautical mile course between Santos and Rio de Janeiro in a report time of three hours, one minute, and forty-seven seconds.