Former Brazilian billionaire Eike Batista is out raising hundreds of millions of dollars for new venture projects that range from a generic Viagra that dissolves under your tongue to cloning cattle and rare animals, Bloomberg reports.
Of course, as he fundraises he still has to deal with his ongoing insider trading trial that resulted from the collapse of his multibillion dollar commodities empire, EBX.
And of course, he has to deal with being a “negative millionaire;” owing money to investors all over the world from Abu Dhabi’s sovereign wealth fund, Mubadala, and PIMCO; having his assets (luxury cars, boats, planes) seized; and knowing that he blew being the 7th richest man in the world back in 2012 when the oil fields he promised investors would produce turned out to be almost-dry.
That’s basically the moment he was set to lose $US34 billion — his personal fortune.
It’s not a wonder Batista is out raising money again as his companies go through bankruptcy and, in some cases, are sold off for parts. He built his empire out of a $US5 million Amazonian mining company — he’s always sold his ideas and businesses. Unfortunately, the Brazil he managed to accomplish that feat in is a very different place now. The country’s GDP grew by only 0.1% last year, and the entire government is currently caught in the throws of a massive graft scandal stemming from illegal activity in quasi-state oil company, Petrobras.
The quickly growing commodities kingdom in which Batista was a superstar businessman/speed boat racer (his favourite hobby) is no more.
That said, a Wall Streeter once told Business Insider that Batista is the greatest Power Point presenter in the history of finance.
But we’re pretty sure that was shade.