Batista's Spectacular Fall From Billionaire Grace

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July 26 (Bloomberg) -- Bloomberg's Alexander Cuadros and Editor-At-Large Matthew G. Miller examine how Eike Batista lost 99 percent of his personal fortune, falling from a worth of $35 billion to an estimated $200 million. They speak on Bloomberg Television's "Market Makers."

We have matt g. miller and we also havealex.

Alex, this is not just about the selloff in commodities overall.

Partly the story of brazil falling out of favor with investors.

But it is really the story of someone who made a really big promises and priced everything to perfection and then failed to deliver on it.

You know these billionaires like nobody else does.

The personality is what makes them tick.

Not just what makes them billions.

What are some of the unique characteristics?

It is really hubris.

He went out and claimed he would become the richest man in the world, would pass carlos slim and he knew the date, 2015. he told bloomberg that.

It might have been a jinx.

Same thing is true with what he did with his investors.

Six publicly traded, all commodity space.

A sickly sale we had this much oil in the ground, and it turns out they do not have it -- basically said we had this much oil in the ground, and it turns out they did not have it.

A catalyst having to do with abu dhabi sovereign wealth fund.

March of last year, he he sold a $2 billion stake in his commodities conglomerate to this sovereign wealth fund.

This was kind of the peak for baptista -- batista.

He said it was a sign of confidence -- constructing the empire linking commodities and logistics companies.

It turned out there were a lot of protections built into this investment.

One of them was that the sovereign wealth fund had the right to turn it into debt from equity.

And after his companies lost 90% of their value, they decided to do that.

There were funding problems clearly with these companies.

A problem with the brazilian economy.

Commodities selloff.

Have you ever seen a billionaire lose so many billions in a short amount of time?

A historic moment in actual wealth loss.

More than $35 billion evaporating from one guy's fortune.

We have seen carlos slim drop $12 million this year and goes from number one to number two -- but an entire fortune of $35 billion he raised come and never happened.

Is he a popular man in brazil?

People like him, hate him?

Probably hate him now.

A bit of a love-hate figure.

When i spoke to him last year, he said he exemplified a new brazilian dream of entrepreneurial success.

He has more than 1.3 million twitter followers.

He wrote a best-selling is this/self-help.

So, he really was the symbol of wealth in brazil.

Now, with his decline, people have been taking a sort of perverse pleasure in that.

Matt, he is still with what?

$200 million as long as you do not find more debt.

As fortunes fall, you have to sort of worry about the fact that they will have to take on more debt to cover whatever they are owed.

Sound a little bit like a brazilian version of donald trump.

Alex, a reporter -- i reported him brazil, and matthew g. miller.

This text has been automatically generated. It may not be 100% accurate.

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