Aike Batista will have many regrets. After all, a few years ago, he was the richest man in Brazil, with a net worth of $35 billion, making him the 7th richest man on earth. And he is very proud of his future.
In a 2010 “60 Minutes” interview, Eike predicts that within 10 years he will be the wealthiest person on the planet with a net worth of over $ 100 million. Unfortunately, he is wrong in some ways.
First, Jeff Bezos, the richest man in the world in 2020, is only worth $ 200 billion, so even if Eike was worth $ 100 billion, he would be close to being the richest person on the planet. Second, Aike is not worth $100 billion, $50 billion, $35 billion, $1 billion, or $1. Eike Batista is currently being held in a Brazilian prison with a negative net worth. Why did Eike Batista go so fast and so far?
Batista is considered the most daring and successful entrepreneur of the Brazilian generation. He was born in Brazil and enrolled in a German university. While living in Germany, Eike read magazine articles about Brazil Gold Rush.
He left school and returned to Brazil to take part in the Gold Rush action. He borrowed money to buy a gold mine. This made Batista his first. His business grew throughout the 1980s, 1990s, and 2000s, and his net worth grew as well. At its peak, it owned five oil and gas companies.
He became a millionaire, and in 2010, with a fortune of $ 35 billion, he became the richest in Brazil and the 7th richest in the world. Unfortunately for Aike, the global commodity market peaked in August 2012. Its largest oil company, OBX, saw its oil production declined 87% over the next 12 months.
OBX increased from 750,000 barrels of oil per day to just 15,000 barrels. Falling mineral prices have defeated four other Batista companies in a similar way. During the year, his net worth fell by 99.4%.
OBX filed for bankruptcy. It was one of the largest bankruptcies in Latin American history. As of August 2013, Eike’s net worth has dropped to $200 million. Unfortunately for Batista, things are supposed to get worse. In 2014, the Curitiba branch of the Brazilian Police opened a criminal investigation called “Work Car Wash.”
The task force’s first task is to crack down on money laundering activities created by criminal gangs. Eventually, it was expanded to include bribery and corruption among Brazilian state-owned oil company Petrobras, business executives and politicians.
This is the largest corruption investigation in Brazil’s history. In summary, the Task Force has found a number of Petrobras management receiving large bribes in exchange for high construction contracts. During the investigation, more than 1,000 search warrants and seizure warrants were issued. Ultimately, the Task Force estimated that $ 13 billion of money laundering had taken place.
Two Brazilian presidents have been indicted and jailed. One of the former presidents, Luiz Inácio Lula da Silva, was sentenced to nine years and served 580 days after the appeal. In January 2017, Brazilian authorities raided Aike Batista’s mansion.
They found a safe with $32,000 in cash and a $500,000 Lamborghini Ave Vage Tadoru parked in the living room. Batista was ordered to flee from justice because he was in New York at the time of the attack. Upon returning from New York to Brazil, Aike was arrested and imprisoned. On July 3, 2017, Batista was convicted of bribing the original Rio de Janeiro governor Sergio Cabral to secure a lucrative government contract. Rumour has it that Batista paid Cabral $16.6 million.
Aike Batista was sentenced to 30 years in prison. The story of Aike Batista is one of the most dramatic tumbles in the history of wealth and billionaires. Only two people have been arrested and jailed in the history of the 10 richest people in the world Another millionaire? Pablo Escobar, the royal cocaine route.