Brazilian billionaire Eike Batista is drifting farther away from his ultimate goal of become the richest man in the world.In fact, as of yesterday, he’s not even one of the 100 richest people on the planet.
The sleuths on Bloomberg’s billionaires team, tracking the flow of money around the world in real time, report that Batista lost $300 million yesterday when his shipbuilder OSX Brasil SA fell 11%.
OSX is a part of an empire that includes mining, energy, logistics and more companies. All of it is held in EBX, Batista’s holding company.
Last year, Batista lost his place as Brazil’s richest man to Jorge Lemann, the man who owns Anheuser Busch. Batista peaked in March 2012 when he had a fortune of $34.5 billion. Now he has about $10.7 billion.
And remember, there’s additional pressure for Batista to perform here. Last year he struck a deal with Abu Dhabi’s sovereign wealth fund, Mubadala Development Company, for a $2 billion investment in his empire in exchange for a 5.63% stake in EBX.
However, if Mubadala’s investment doesn’t return 5% by 2019, Batista has to turn over more of EBX.
This, ladies and gentlemen, is a nail-biter.