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Latin American Economy & Business - July 2013 (ISSN 1741-7430)

Brazil: The Eike Batista story: down but not out?

As a business crash and a riches-to-rags narrative, there is almost nothing that can beat the Eike Batista story at present. According to the latest estimates at the end of July, the publicity-loving Brazilian entrepreneur, once ranked as the eight wealthiest person in the world, has lost over US$33bn in little over one year. According to estimates by the news agency Bloomberg, the fall of his business empire took him from a net worth of US$34bn in early 2012, down to ‘sub-billionaire status’ now, at around US$200m.

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