What is Eike Batista’s net worth?
Eike Batista is a Brazilian-German entrepreneur who made a fortune in the oil and gas and mining industries and was among the top ten richest people in the world in 2011. As of this writing, Eike Batista has net worth of $ 1.2 billion.
As chairman of the conglomerate EBX Group, he managed major infrastructure projects in Brazil that eventually ruined his companies. In 2018 Batista was sentenced to 30 years in prison for bribing the governor of Rio de Janeiro Sérgio Cabral to obtain public contracts.
Between August 2012 and August 2013, Eike Batista’s fortune plummeted at a shocking rate. His net worth once peaked at $ 30 billion, making him the tenth richest person in the world and the number one richest person in South America.
Early life and career entry
Eike Batista was born on November 3, 1956 in Governador Valadares, Brazil, the second of seven children to the Brazilian businessman Eliezer and the German-born mother Jutta. When Batista was a teenager, he and the family moved to Europe and lived in Geneva, Switzerland, Düsseldorf, Germany and Brussels, Belgium, among others. Batista attended the University of Aachen in Germany, where he studied metallurgy technology. To make a living he worked as a door-to-door insurance salesman.
When Batista returned to Brazil in the early 1980s, he turned his attention to the gold and diamond trade. As a seller, he contacted producers in the Amazon region as well as buyers in major cities across Brazil and Europe. At the age of 23, Batista started his own gold trading company called Autram Aurem; In just over a year, the company had made $ 6 million. Later, at the age of 29, he became CEO of Montreal-based TVX Gold, which forged its relationships with the global capital markets.
After implementing the Amazon’s first mechanized alluvial gold mining facility, Batista founded the EBX Group in 1984. The infrastructure and natural resource-focused conglomerate based in Rio de Janeiro consists of companies such as OGX, which specializes in oil; MMX, which is engaged in mining; and OSX, which handles the offshore industry. Between 1980 and 2000, Batista raised $ 20 billion worth of gold and silver mines in Brazil, Canada and Chile. The EBX Group is also responsible for the realization of the first commercial solar power plant in Brazil in Tauá. In March 2011, the Group acquired equity control in Canadian mining company Ventana Gold, which holds mineral rights in Colombia’s historic, gold-rich mining region of California-Vetas.
In addition to its activities in the infrastructure and raw materials sector, the EBX Group invests in areas such as entertainment, technology, real estate as well as airline and rail catering. Real estate company REX is focused on urban development and income generating assets and has a portfolio that includes Hotel Glória, MD.X Medical Center and R3X Leblon Business Center. In total, the EBX Group supports over 170 social and environmental initiatives across Brazil, including historical and cultural conservation.
Reversal of fate
Batista was once the seventh richest person in the world, with a net worth of around $ 35 billion in early 2012. He often bragged that he would overtake Mexican business tycoon Carlos Slim by 2015 and become the richest man in the world in just over a year , during which his fortune peaked, Batista’s net worth plummeted to $ 200 million. This was in large part due to the numerous debts he had accumulated from working on large projects and the falling stock prices of the EBX Group. Its losses were also caused by a downturn in the precious metals mining industry, in addition to the massive collapse of its OGX company, which was only producing 15,000 barrels a day while it claimed to be producing 750,000 barrels. Between March 2012 and January 2014, Batista’s net worth decreased more than 100% to a negative net worth. In early 2015, Brazilian authorities seized cash and seven Batista’s cars.
Since his historic losses, Batista has written about his decline from the ranks of billionaires. He has stated that he regrets getting his companies public and that he should have used a private equity model to fund his ventures.
Arrest and imprisonment
In early 2017, Batista was one of nine people detained by the Brazilian authorities as part of Operation Car Wash, a high-profile money laundering investigation. Upon his return from New York, he was detained in a maximum security prison in the Rio de Janeiro neighborhood of Bangu and shortly thereafter charged with bribes of $ 16.5 million to Sérgio Cabral, the disgraced former governor of Rio de Janeiro to have done. In July 2018, Batista was convicted of bribing the governor to secure contracts with the state government. He was eventually sentenced to 30 years in prison.
In 1991 Batista married the model and actress Luma de Oliveira, with whom he had two sons, Olin and Thor. The couple divorced in 2004. Subsequently, Batista was romantically engaged to the lawyer Flávia Sampaio; together they had a son named Balder.
A lover of running, swimming, and water sports, Batista competed in offshore powerboat races in the 1990s. In the super class he was Brazilian, US and world champion. Later, in 2006, Batista covered the 220 nautical miles between Santos and Rio de Janeiro in a record time of three hours, one minute and 47 seconds.