Former World’s 8th Richest Man Loses $34.5 Billion | TigerDroppings.com

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RLDSC FAN
Southern Cal Fan
Rancho Cucamonga, CA
Member since Nov 2008
15867 posts

Former World’s 8th Richest Man Loses $34.5 Billion


quote:

Last March the Brazilian commodities tycoon ranked as the world’s eighth richest person with a net worth of $34.5 billion. His net worth today: $200 million, according to Bloomberg Billionaires.

Batista, who has been called the Donald Trump of Brazil, may have suffered one of the “worst wealth losses in history,” says Bloomberg Billionaires Index editor Matt Miller. “He was the face of Brazilian capitalism. He’s mired in debt. This is a tragic fall for him.”

Most of Batista's problems stem from the erosion of nearly 90% of the value in his flagship company, OGX Petroleo & Gas Participacoes SA (OGXP3). Shares in the business have plummeted in the last year as the company missed targets for production output and reserves.[

Unlike billionaires Bill Gates and Warren Buffett, Batista was ostentatious about his wealth, even declaring that he would overtake Mexico’s Carlos Slim for the world’s richest person title by 2015. He told Bloomberg: "Just give me time, let me work please.


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Gaston
LSU Fan
Dirty Coast
Member since Aug 2008
19993 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


I probably have that much in between my couch cushions.





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brgfather129
Texas Tech Fan
Austin, TX
Member since Jul 2009
8150 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


I'm an OTer and have like eleventy billion in my guest houseZOMGLULZ





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Too Frat To Care
New Orleans Saints Fan
PMAC
Member since Mar 2011
6939 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


That's chump change, bitch. Get on my level.





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link
Member since Feb 2009
13881 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


you probably have more than that hidden under your combover





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CHEDBALLZ
New Orleans Saints Fan
South Central LA
Member since Dec 2009
3776 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


Id be happy if I only had $200, 000, 000





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WavinWilly
New Orleans Pelicans Fan
Wavin Away in Sharlo
Member since Oct 2010
7055 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


Nobody taught him to diversify?





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brgfather129
Texas Tech Fan
Austin, TX
Member since Jul 2009
8150 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


quote:

you probably have more than that hidden under your combover








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VaBamaMan
Alabama Fan
Hayden, AL
Member since Apr 2013
1886 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


Somebody is a dumb dumb.





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brewhan davey
USA Fan
Audubon Place
Member since Sep 2010
25514 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


Must be nice to lose that much and still be a multi-millionaire





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Andre
Arizona Fan
Marigny
Member since Apr 2009
2710 posts
 Online 

re: Former World’s 8th Richest Man Loses $34.5 Billion


I love watching rich people lose all their money.
So much more entertaining than poor people winning lots of money



This post was edited on 7/27 at 9:36 am


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RBWilliams8
LSU Fan
Member since Oct 2009
46427 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


quote:

ostentatious about his wealth, even declaring that he would overtake Mexico’s Carlos Slim for the world’s richest person title by 2015. He told Bloomberg: "Just give me time, let me work please.


Carlos slim did this...






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RLDSC FAN
Southern Cal Fan
Rancho Cucamonga, CA
Member since Nov 2008
15867 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


quote:

Nobody taught him to diversify?


apparently not better get some new financial advisors before he loses that 200 million he has left.






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beaverfever
Arkansas Fan
Little Rock
Member since Jan 2008
7656 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


Man if I got that rich I'd always have at least a billion that was untouchable.





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mailman
Louisiana Tech Fan
Member since Jul 2009
3063 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion




what an idiot, dont run your fricking mouth and always cash in shares






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crawfishcharlie
LSU Fan
Crawfishtown, USA
Member since Dec 2003
4389 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


Hell.... I thought this was about losing money on Beanie Babies...


This post was edited on 7/27 at 10:42 am


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OMLandshark
Ole Miss Fan
Member since Apr 2009
37996 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


How the frick do you manage to lose 34.3 billion dollars? It just doesn't seem possible. Shouldn't he invest his money in multiple places? Who is this dude's financial advisor? I'm sure he's probably dead by now for losing 34.5 billion.


This post was edited on 7/27 at 10:45 am


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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
29858 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


quote:

Nobody taught him to diversify?


He wouldn't have even gotten to 200 million by diversifying, let alone almost 35B.






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beaverfever
Arkansas Fan
Little Rock
Member since Jan 2008
7656 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


quote:

How the frick do you manage to lose 34.3 billion dollars? It just doesn't seem possible. Shouldn't he invest his money in multiple places? Who is this dude's financial advisor? I'm sure he's probably dead by now for losing 34.5 billion.

Most multi-billionaire financial gurus would probably laugh at the idea that they need someone to tell them what to do with their money.






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beaverfever
Arkansas Fan
Little Rock
Member since Jan 2008
7656 posts

re: Former World’s 8th Richest Man Loses $34.5 Billion


quote:

He wouldn't have even gotten to 200 million by diversifying, let alone almost 35B.
And yeah this. I just can't imagine having an absurd amount of money like that and not considering putting my eggs in several baskets. At a certain point you have to say, "yeah I'm richer than God. Let's play it cool from here". I guess these guys just don't do that. Hence all his bragging about eventually becoming the richest man in the world.






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