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How One Man Made Market Built an Empire and Lost It All: The Story of Eike Batista

Fernando Pessoa

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Published in The Bond King: How One Man Made A Market Built An Empire And Lost It All

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Eike Batista was once one of the richest men in the world, with a fortune estimated at $30 billion. But his empire crumbled in spectacular fashion, and he is now facing jail time. How did it all go so wrong?

The Bond King: How One Man Made a Market, Built an Empire, and Lost It All

by Mary Childs

4.3 out of 5

Language	:	English
File size	:	1525 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
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Print length	:	322 pages

Batista was born in Brazil in 1956. He started his career in the mining industry, and he quickly made a name for himself as a shrewd businessman. In the early 2000s, he founded OGX, an oil and gas company. OGX was a huge success, and Batista's fortune grew rapidly. He soon became one of the most famous and influential businessmen in Brazil.

But Batista's success was built on a house of cards. OGX's oil and gas reserves were overstated, and the company was heavily in debt. In 2013, OGX filed for bankruptcy. Batista's other businesses also began to fail, and he was soon facing financial ruin.

In addition to his financial problems, Batista was also accused of corruption. He was accused of bribing politicians and paying kickbacks to government officials. In 2017, he was sentenced to 30 years in prison. He is currently appealing his sentence.

The story of Eike Batista is a cautionary tale about the dangers of greed and hubris. Batista was a brilliant businessman, but he was also reckless and overconfident. He took on too much debt and he overstated the value of his assets. As a result, he lost everything.

Batista's story is also a reminder that even the richest and most powerful people are not immune to the consequences of their actions. If you break the law, you will eventually pay the price.

The Early Years

Eike Batista was born in Governador Valadares, Minas Gerais, Brazil, on November 3, 1956. His father, Eliezer Batista da Silva, was a mining magnate and politician. His mother, Jutta Fuhrken, was a German immigrant. Batista had two older sisters, Lucia and Cristina.

Batista grew up in a wealthy family. He attended the prestigious Colégio Santo Agostinho in Rio de Janeiro. After graduating from high school, he studied metallurgical engineering at the Federal University of Rio de Janeiro.

In 1978, Batista began his career in the mining industry. He worked for several mining companies before founding his own company, MMX, in 2000. MMX quickly became one of the largest mining companies in Brazil.

The Rise of OGX

In 2006, Batista founded OGX, an oil and gas company. OGX was a huge success, and Batista's fortune grew rapidly. He soon became one of the most famous and influential businessmen in Brazil.

OGX's success was due in part to Batista's aggressive marketing campaign. He promised to make Brazil self-sufficient in oil and gas. He also promised to create thousands of jobs.

Batista's promises were too good to be true. OGX's oil and gas reserves were overstated, and the company was heavily in debt. In 2013, OGX filed for bankruptcy.

The Fall of Eike Batista

The bankruptcy of OGX was a major blow to Batista's empire. His other businesses also began to fail, and he was soon facing financial ruin.

Batista's story is also a reminder that even the richest and most powerful people are not immune to the consequences of their actions. If you break the law, you will eventually pay the price.

The Bond King: How One Man Made a Market, Built an Empire, and Lost It All

by Mary Childs

4.3 out of 5