Eike Batista Loses Billionaire Status

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July 25 (Bloomberg) -- Bloomberg's Matt G. Miller tells Pimm Fox just how much Batista is worth now on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

Who is iq batista -- eike batista?

He is a commodities tycoon.

Everything is falling apart and he is now worth $200 million.

The state of his six commodities companies, he had mining interests, shipping interests -- all of them have plummeted and now he is mired in debt.

It has $1.5 billion more in debt.

So he used to be worth 34.5 billion dollars.

How much does he have left after all of this?

About $200 million.

Has he had to sell of his personal assets?

He sold off his jets.

He said, i'm going to man up and pay off my debts.

He is looking to sell off assets.

All the companies and their assets appear to be for sale.

Where is this empire based?

In brazil.

He was the face of the surge of brazilian capitalism.

How did he acquire these interests?

With help from the government and friends he was able to get oil resources and oil reserves.

They would always walk around proving to investors that they had all of these shipping or oil or gold reserves.

They would oversell to investors.

Every time they made a prediction about how much commodities assets they had, they would always fall short of that and eventually that caught up with them.

Why has the wealth decreased from $34.5 billion to $200 million?

It is all publicly traded companies.

He could increase his net worth and the value of shareholders by taking them public.

This $200 million he supposedly still has, is that liquid assets?

A little bit of cash, but you will have to use cash to pay down his debt.

And it is his stakes.

He has debt from brazilian banks . there is a sovereign wealth fund that infused $2 billion in what was originally an equity deal.

They have transferred that there was an option to make it debt.

He has paid off 500 million of that but still owes them $1.5 billion.

Will other people be heard by the decline in his wealth?

-- hurt by the decline in his wealth?


Anyone part of his companies or owns a part of his companies has

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


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