Eike Batista Loses $5.8 Billion in a Week Amid Brazil Rout
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Eike Batista, the richest man in Brazil, has lost about $5.8 billion in the past week after his energy and mining startups plunged amid the worst rout in the nation’s equity market since the 2008 financial crisis.
The value of his stock holdings has fallen 26 percent since Aug. 1 to 26.6 billion reais ($16.5 billion), according to data compiled by Bloomberg and EBX Group Ltd., the holding company for most of his assets. Oil driller OGX Petroleo & Gas Participacoes SA, which has yet to produce any crude, and miner MMX Mineracao & Metalicos SA are the second- and third-worst performers on the 66-member Bovespa index in the past five days, falling 28 percent and 27 percent, respectively.