Bankruptcy

Brazilian Industrialist Goes From Net Worth Of $30 Billion To Negative $1 Billion, Has Supercars Impounded

As well as pretty much everything else he had.

Once the seventh-richest man in the world, Brazilian oil tycoon Eike Batista has hit hard financial times. His company, OGX, has only been managing to produce a tiny fraction of the oil it was projected to, and Batista's personal fortune has been so badly affected that his net worth has dropped from about $30 billion to negative $1 billion. It is the biggest sum of money that any one person has lost over such a short period of time ever in recorded history.

Batista has had seven high-value cars impounded, as well as three private planes, a speed boat and his yacht, the Spirit of Brazil (pictured). Police even seized his mobile phone. Batista is currently facing charges of market manipulation and insider trading, although he couldn't possibly have been terribly good at it. He is still apparently regarded pretty highly in Brazil, as when he had money, he would frequently use it for a lot of good. This included giving to charitable organizations as well as spending $12.8 million on securing Brazil's Olympic bid.

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