Início > Uncategorized > The Economist | Eike Batista’s assets: The great X-it

The Economist | Eike Batista’s assets: The great X-it

The Economist

Eike Batista’s assets
The great X-it
Foreign firms are buying most bits of the Brazilian mogul’s fallen empire

SÃO PAULO

DURING his stratospheric rise Eike Batista became a symbol of Brazil’s economic virility, extolled by politicians and lionised by fellow businessmen. He was the world’s seventh-richest person, with a fortune put at around $30 billion. His interlinked businesses included six listed commodities and logistics companies—each with an X in its name, signifying the multiplication of wealth—plus a handful of private firms such as a property developer and a gold-miner. But OGX, the oil and gas firm at the heart of his empire, proved not to be the gusher he had promised. Investors lost faith in him and his devalued assets, and his empire crumbled.

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