Being the richest person in the world is no guarantee that he will be happy and that his wealth will last forever. It could be that he suddenly fell into poverty because of the mistakes he made.
Like the story of Eike Batista, his name was once known as the richest person in the world. However, this treasure has now disappeared without a trace.
Here's the story!
Profile of Eike Batista and his Business
The story of Eike Batista, the richest man who has now fallen into poverty/Photo: Exame
Eike Batista was born in Minas Gerais, Brazil on November 3 1956. At the beginning of 2012, his name was on the list of the richest people in Brazil and 7th in the world, with a net worth of USD 35 billion. The source of his wealth comes from gold and silver mining.
Previously, he was a door-to-door insurance salesman. After several years in sales, he, who had lived in Germany, returned to his homeland in Brazil and began to focus on trading gold and diamonds, to be precise in the 1980s.
Including persistent people. Batista sells and contacts manufacturers and sells his own products. At the age of 23, he started a gold trading company called Autram Aurem, using the Inca Sun as a trademark and company symbol.
Amazingly, one and a half years later, the company earned quite large revenues, namely USD 6 million.
Batista implemented the first mechanized alluvial gold mining plant in the Amazon, marking the beginning of the EBX Group. Then, at the age of 29, he became CEO of TVX Gold, a company listed on the Montreal Stock Exchange, starting his name with the global capital market.
The business he built was successful. From 1980 to 2000, he managed to collect USD 20 billion.
The Story of the Destruction of Eike Batista
The story of Eike Batista, the richest man who has now fallen into poverty/Photo: special
Hardly amassed wealth, all vanished in one night.
According to CNBC Indonesia, in 2013 Batista was involved in various super complicated and expensive infrastructure and mining projects. At that time, the company was experiencing cash difficulties. However, he sees promising prospects in this project.
When the project started to be developed, he realized that mining would not be profitable. Finally, a lot of money has been spent, but the results are not as expected, losses are what ultimately occur.
Covering large losses, he sold his yacht and property. This continues until everything slowly disappears. In fact, this incident revealed a case that had been covered up by Batista.
In 2017, in Brazil there was “Operation Car Wash” which attempted to uncover cases of political parties. After further investigation, Batista's name was proven to be involved in it. In other words, his wealth was built from corruption and nepotism.
Project money from the government goes into his pockets and adds to his wealth. Because of this, he was sentenced to 30 years in prison.
According to detikFinance, a year later, he was again involved in illegal actions. Batista was arrested by the police because of suspicious transactions of around USD 203 million or IDR 3.14 trillion.
He was also found guilty of manipulating market values for personal gain. For this incident, a Brazilian court sentenced him to 8 years in prison and a fine of USD 20 million. Now, apart from having lost all his wealth, he is also living in prison.
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