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Brazil's Wealthiest Man Takes Fall in Dicey Oil Game

It was a dizzying height from which to drop. Eike Batista is the quintessential high-achieving, alpha male entrepreneur. He's the richest man in Brazil, with a group of companies active in everything from mining and shipping to oil and real estate.

The fall was the biggest anyone could remember at the Sao Paulo stock exchange, according to its chief executive officer, Edemir Pinto. No company among the five most traded had ever lost half its value in the market in just two days, as Batista's oil concern OGX did in the final days of June.