Eike Batista

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This name uses Portuguese naming customs. The first or maternal family name is Fuhrken and the second or paternal family name is Batista da Silva.
Eike Batista
EIKE BATISTA (crop).jpg
Eike Batista in 2011
Born Eike Fuhrken Batista da Silva
(1956-11-03) 3 November 1956 (age 60)
Governador Valadares, Minas Gerais, Brazil
Nationality Brazil
Alma mater RWTH Aachen University (dropped out)
Occupation CEO of EBX Group
Children Thor Batista (b. 1992)
Olin Batista (b. 1996)
Balder Batista (b. 2013)

Eike Fuhrken Batista da Silva (Portuguese: [ˈejki ˈfuʁkẽj ba'tʃista da 'siwva]; born 3 November 1956) is a Brazilian business magnate who made and lost a fortune in mining and oil and gas exploration.[3][4] Presently, he is the chairman of Brazilian conglomerate EBX Group. The group includes five companies that trade on the BOVESPA's Novo Mercado, a special segment of the São Paulo stock market. These five companies are: OGX[5] (oil and gas), MPX[6] (energy), LLX[7] (logistics), MMX[8] (mining) and OSX[9] (offshore services and equipment).

In early 2012, Batista had a net worth of $30.0 billion, making him the seventh wealthiest person in the world and the richest in Brazil.[10][11] By July 2013, his wealth had plummeted to $200 million due to his debts and company's falling stock prices.[12][13] Bloomberg reported in January 2014 that Batista "has a negative net worth." [14] Forbes and Folha de S.Paulo quoted Batista in September 2014 stating that his net worth was –$1 billion.[15][16]

Early life and career[edit]

Batista[17] is one of seven children of businessman Eliezer Batista da Silva,[18] who was Minister of Mines and Energy in the João Goulart and Fernando Collor administrations and a former president of Companhia Vale do Rio Doce,[19] then wholly a state enterprise, between 1961–1964 and 1979–1986. His mother, Jutta Fuhrken, was born in Germany and, from her, Batista says he learned self-esteem and discipline, attributes he considers crucial to his formation as an entrepreneur.[20] After spending his childhood in Brazil, Batista and his family moved to Europe when he was a teenager, due to his father's occupation. They lived in Geneva, Düsseldorf and Brussels.

In 1974, he began to study metallurgical engineering at the University of Aachen in Germany. When he was 18 years old, his parents returned to Brazil, yet Batista remained abroad and began selling insurance policies door-to-door to make his living. In interviews, he often mentions that the "stress" and the lessons learned from this experience were essential for his education.

Batista-da-Silva returned to Brazil in the early 1980s and focused his attention on the gold[21] and diamond trades. He established himself as a salesman, contacting producers in the Amazon area and buyers in large metropolitan centers in Brazil and Europe. When he was 23 years old, he started a gold trading firm, called Autram Aurem, using the Inca Sun as the company trademark and symbol. A year and a half later, the company had earned US$6 million.

He implemented the first mechanized alluvial gold mining plant in the Amazon, marking the beginning of the EBX Group. At age 29, he became CEO of TVX Gold, a company listed on the Canadian Stock Exchange, thus initiating his relationship with global capital markets.

From 1980 to 2000, he created US$20 billion in value with the operation of eight gold mines in Brazil and Canada and a silver mine in Chile.[22]

Between 1991 and 1996, the value of his company more than tripled.

Personal life[edit]

Batista married the model Luma de Oliveira in 1991, and divorced her in 2004. They had two boys, Olin and Thor. Batista enjoys running, swimming and practices marine sports. In the 90s, he was the Brazilian, U.S. and World Champion[23] in the Super Offshore Powerboat class. In 2006, he covered the 220 nautical miles between Santos and Rio de Janeiro in 3h01m47s and beat the record for the course in his boat, the Spirit of Brazil. Batista[24] maintains an active digital life, with a personal site with articles, videos and news about his companies. The digital channel that Batista has chosen as his primary means of personal communication is Twitter.[25] His profile on Twitter, @eikebatista, has over 1,100,000 followers, who respond to his messages and interact with him. In 2011, Batista released the book “The Heart of the Matter” (O X da Questão) which recounts his trajectory in the business world and offers tips on entrepreneurialism.

National and international rankings[edit]

In 2011, Batista was listed by Forbes magazine as the 8th richest person in the world[26] and the richest in South America. His wealth at one time was estimated at US$30 billion.[27] Batista was also featured in Bloomberg Markets magazine as the only Brazilian on the list of the 50 most influential people in global finance, published for the first time in September 2011.[28] The magazine focused on people “whose comments move markets; whose deals set the value of companies or securities; whose ideas and policies shape corporations, governments and economies”.

At the end of 2010, the magazine ranked Batista as the 58th most powerful person in the world,[10] placing him as Brazil's most powerful person after the then-president of Brazil, Dilma Rousseff.[29] The newspaper Folha de S.Paulo describes Batista as an example of a "self-made man",[30] an entrepreneur with a fortune acquired primarily through his own efforts (and not entirely through inheritance).

The top-ranked Brazilian in March 2008, on the Forbes magazine list, was Antonio Ermírio de Moraes, in 77th place with a family estate of US$10 billion. Another 17 Brazilians were on the list, including Batista (who in 2008 said his goal was to become the richest man in the world in five years). In 2008 Batista's fortune was estimated at US$6.6 billion and he was ranked at the 142nd place on the list of the richest men in the world. In 2009, he moved up to the 61st position and was considered the richest[31] man in Brazil.

According to the Brazilian weekly magazine 'Época, Batista is one of the 100 most influential men in Brazil of 2010. IstoÉ magazine has also listed Batista as one of the 100 most influential people in 2010. In 2011, Batista was included in the 1,000 CEOs ranking by Dinheiro magazine.


Since the 1980s, Batista created and put into operation eight gold mines in Brazil and Canada (Amapari, Casa Berardi, Crixás, Musselwhite, New Britania, Novo Astro, Novo Planeta and Paracatu), a silver mine in Chile (La Coipa), and three iron ore mines in Brazil (Mina 63, Tico-Tico and Ipé)."

All of Batista's companies were named with 3-letter combinations ending in the letter "X", which Batista believed was a symbol for the multiplication of wealth.[32]

From 2004 to 2010 Batista[33] created and put into operation five companies: MMX (mining), MPX (energy), OGX (petroleum), LLX (logistics) and OSX (offshore industry). As of 2013, due to falling commodity prices, none of his enterprises were profitable despite substantial infusions of cash by the Brazilian government, and Batista was engaged in desperate efforts to shed assets and meet the demands of creditors.[34]


The EBX Group produces iron ore in Minas Gerais and Mato Grosso do Sul and has put into operation the first commercial-scale solar power plant[35] in Brazil. The Group is making investments of an estimated US$15.5 billion between 2011 and 2012 in Brazil and is responsible for projects of significant scale in the country, such as the LLX Açu Superport[36] in São João da Barra (RJ), the MMX Sudeste Superport[37] in Itaguaí (RJ), and the MPX thermal power plants in Itaqui (MA) and Pecém (CE). These important energy and infrastructure projects are being executed in parallel to OGX's exploratory campaigns[38] in Campos (RJ), Santos (SP) and Parnaíba (MA) basins, which have resulted in oil and gas discoveries. There are currently 20,000 people working in the construction and operation of the Group's projects.[39]

The EBX Group is headquartered in Rio de Janeiro and also operates in nine Brazilian states. It has offices in New York City (USA), Colombia and Chile.

In addition to the infrastructure and natural resources sectors, Batista's EBX Group also invests other areas, including real estate (REX),[40] entertainment (IMX)[41] technology (SIX) and catering (NRX). In Rio, EBX is developing sports, hospitality, gastronomy, health and beauty initiatives.

Since the early 2000s, Batista focused his efforts primarily in the areas of natural resources, energy and infrastructure.

In April 2012 the EBX Group contracted International Business Machines Corp. to take over EBXs IT operations.[42]


MMX[43] is the mining company of the EBX Group, with integrated logistics and low production costs. The company has projects in the Brazilian states of Minas Gerais and Mato Grosso do Sul, as well as in the country of Chile.

MPX Now Eneva SA[edit]

MPX operates in the energy industry in Brazil, Chile and Colombia. The company has complementary businesses in power generation, coal mining[44] and exploration and production of natural gas. MPX is responsible for the first commercial solar power plant in Brazil in the city of Tauá[45] (CE). As part of the restructuring of the EBX companies under Batista, MPX was renamed as "Eneva SA" and it is now co-controlled by Germany's E.ON SE and Batista.[32]

OGX Now Oleo e Gas Participacoes[edit]

OGX was the EBX Group company which carries out activities in the exploration and production of oil and natural gas. The company was responsible for the largest private sector exploratory campaign under way in Brazil, claiming an early success rate in exploratory wells of more than 90% and initially valuing its deposits at more than $1 trillion. The company's wells turned out to be duds, however, and OGX filed for bankruptcy protection on October 30, 2013. In December the 2013 its shareholders voted to rename the company "Oleo e Gas Participacoes."[32]

LLX Now Prumo Logistical Global[edit]

LLX was the logistics company of the EBX Group, responsible for building the Açu Superport,[46] in the state of Rio de Janeiro, projected to be the largest port-industrial complex in Latin America. As of December 11, 2013, LLX was renamed to be Prumo Logística Global by its new controlling parent, U.S.-based EIG Group.[32]


OSX operates in the offshore shipbuilding industry and is constructing the largest shipyard in the Americas, the "Embraer of the Sea," at the Açu Superport.[47] Brazil's wealthiest man builds a super-port] DW World, visited 23 Septemb different segments: shipbuilding, in the charter of Exploration and Production (E&P) equipment and Operation and Maintenance (O&M). Shipbuilding firm OSX, part of the EBX Group, Brasil made the filing in a Rio de Janeiro in November 2013 court less than two weeks after its sister oil company, OGX, also declared bankruptcy.[48]

Loss of fortune[edit]

On July 26, 2013, Bloomberg News reported his losses as "historic". The losses can be attributed largely to the downturn in the precious metals mining industry as well as a catastrophic collapse of Batista's OGX, which claimed it would pump 750,000 barrels of oil a day—only to find itself pumping 15,000. Additionally, other economic issues and management decisions factored in as well. Bloomberg News has attributed this fall to a "Perfect Storm".

He has been known to have claimed publicly several times that he would overtake Mexican baron Carlos Slim Helu to be the world's richest man by 2015. However, akin to Japanese businessman Masayoshi Son, who lost over 90% of his fortune during the dotcom boom of Y2K, Batista's wealth has decreased by over 100% between March 2012 and January 2014, from a peak net worth of $32 billion to a negative net worth.[15] Many business and finance related media, such as Forbes magazine and Businessweek, are still in the process of concluding whether Eike Batista holds the record for having been the fastest destroyer of wealth.

Eike Batista, who has written in Brazilian newspapers about his loss of fortune and fall from billionairedom, has admitted that he regretted listing his companies in the stock markets, and that in retrospect a private equity model of financing his ventures would have been more suitable. Lastly, Batista has claimed that he would leave no creditor unpaid, and that he would fulfill all of his debt obligations.

On February 9, 2015, Brazilian police seized seven cars, including a white Lamborghini Aventador, and cash from Batista.[49]


Major companies founded by Batista: EBX, OGX, MPX, MMX, LLX, OSX, REX, AUX, NRX Newrest, IMX, Gloria Palace, Marina da Glória, MDX, BEAUX, MR.LAM, PINK FLEET, and RJX.


In January 2017, Brazilian authorities issued a detention order for Batista and eight other individuals as part of a $100 million money laundering investigation.[50] Batista returned from New York and was detained in the maximum security prison in Bangu.[51]

See also[edit]


  1. ^ Eike Batista. Freebase. Retrieved on 2013-07-14.
  2. ^ [1] Archived July 20, 2011, at the Wayback Machine.
  3. ^ Eike Batista Archived July 20, 2011, at the Wayback Machine. European CEO, 29 June 2008.
  4. ^ Brazil's Batista forecasts big growth for EBX Group Reuters, 27 August 2011.
  5. ^ OGX Forbes, March 2011.
  6. ^ Batista's MPX targets China for sales of Colombian coal Bloomberg Businessweek, 21 September 2011.
  7. ^ Brazil's richest man builds huge port CNN, 21 October 2010.
  8. ^ Billionaire Batista eyes two billions tons of iron ore reserves in deals Bloomberg, 17 September 2010.
  9. ^ Batista's OSX to add 14 more floating productions ships to fleet Bloomberg Businessweek, 13 August 2011.
  10. ^ a b Eike Batista Forbes.com. Retrieved April 2013.
  11. ^ Rogers, Simon. (2010-03-11) Forbes rich list: ten years of top tens: as a spreadsheet | News | guardian.co.uk. Guardian. Retrieved on 2013-07-14.
  12. ^ Juan Pablo Spinetto, Cristiane Lucchesi & Alex Cuadros. (2013-07-26) Brazil’s Batista Loses Billionaire Status as Debts Mount Bloomberg. Retrieved 2013-08-08. "Batista had already amassed at least $2 billion in personal liabilities, meaning the 56-year-old entrepreneur now has a net worth of about $200 million, according to the Bloomberg Billionaires Index."
  13. ^ Pan Kwan Yuk. (2013-07-26) Eike Batista: sorry, you are no longer a billionaire Financial Times. Retrieved on 2013-08-08.
  14. ^ Rupert Neate. (2014-01-02) Soaring Microsoft shares boosted Bill Gates's fortune by $15.8bn in 2013 Bloomberg. Retrieved on 2014-01-05. "Batista was the world’s eighth-richest person in March 2012, and now has a negative net worth, according to the Bloomberg ranking."
  15. ^ a b Atunes, Anderson (18 September 2014). "Former Billionaire Eike Batista Bemoans His Return To The Middle Class". Forbes. Former billionaire Eike Batista, the flamboyant Brazilian entrepreneur whose wealth peaked at $30 billion in 2012, now says he has a negative net worth of $1 billion. 
  16. ^ Lima, Samantha (17 September 2014). "'Voltar à classe média é um baque gigantesco', afirma Eike Batista". Folha de S.Paulo. Seu patrimônio, estimado em US$ 30 bilhões, em 2012, foi reduzido, segundo suas contas, a US$ 1 bilhão negativo. 
  17. ^ Brazilian Businessman Eike Batista Charlie Rose, 8 February 2010.
  18. ^ Eliezer Batista da Silva Forbes, visited 23 September 2011.
  19. ^ Companhia Vale do Rio Doce: Strong and Steady Growth Wall Street Pit, 12 March 2008.
  20. ^ Eike Batista at Zeitgeist Americas 2011 World News, 28 September 2011.
  21. ^ Batista Bid Has Brazil's Richest Make Explorers Cheap: Real M&A Bloomberg Businessweek, 14 February 2011.
  22. ^ Betting on Brazil Financial Post, visited 23 September 2011.
  23. ^ Power Boating; Brazilian, with a fast ride in New York, wins overall title The New York Times, 10 November 1991.
  24. ^ A Brazilian magnate points to himself for inspiration New York Times, 20 January 2012.
  25. ^ Latin America's Moguls on Twitter Latin Business Chronicle, 15 April 2011.
  26. ^ #8 Eike Batista Forbes, 10 March 2011.
  27. ^ The world's billionaires 2011, Yahoo! Finance, 30 June 2011.
  28. ^ 50 Most Influential Bloomberg, 29 September 2011.
  29. ^ A promising star The Economist, 17 February 2011.
  30. ^ The 100 most creative people in business 2011 Fast Company, visited on 23 September 2011.
  31. ^ Eike Batista: Rich Man. Richest Man? Bloomberg Businessweek, 11 February 2010.
  32. ^ a b c d LLX Becomes the Latest Eike Batista Company to Leave the 'X' Behind Wall Street Journal, 11 December 2013.
  33. ^ Eike Batista: The year of Mr. X BN Americas, visited 23 September 2011.
  34. ^ Peter Lattman; Simon Romero (June 23, 2013). "Brazil, Fortune and Fate Turn on Billionaire". The New York Times. Retrieved June 24, 2013. From a peak of $34.5 billion in March 2012, his wealth has dropped to an estimated $4.8 billion, according to the Bloomberg Billionaires Index. 
  35. ^ MPX solar plant in Tauá, Brazil, Aldeota Global, 5 August 2011.
  36. ^ Investing in ports, with an eye to America's Prosperity New York Times, 26 August 2011.
  37. ^ Brazil's huge new port highlights China's drive into South America The Guardian, 15 September 2010.
  38. ^ Batista discusses oil production, commodities Bloomberg, 15 March 2011.
  39. ^ Eike Batista in Reuter's Insider Reuters, 23 September 2011.
  40. ^ Brazil's Wealthiest man Eike Batista to extend the scope of his REX real estate company to initial focus in the state of Rio de Janeiro Invest in Brazil, 28 October 2011.
  41. ^ IMG - EBX Group & IMG Acquire Brasil1 for IMX JV Reuters, 9 December 2011.
  42. ^ [2] The Wall Street Journal, 4 April 2012.
  43. ^ Mining Strikes it rich BN Americas, visited 23 September 2011.
  44. ^ Brazil EBX may hold coal IPO 2012, But Isn't In Rush, Batistas Says Fox Business, 31 May 2011.
  45. ^ Plan to double the output of MPX first solar power plant in Brazil Solar Thermal Magazine, 18 September 2011.
  46. ^ Brazil's LLX obtains permit to build Sudest Port Reuters, 3 August 2009.
  47. ^ [3]
  48. ^ Eike Batista-owned OSX files for bankruptcy 11 November 2013
  49. ^ "Brazilian police seize Lamborghini, cash from ex-billionaire Eike Batista". Petro Global News. Retrieved 18 February 2015. 
  50. ^ "Brazil police targets former billionaire Batista in 'Car Wash' probe". Reuters. 26 January 2017. Retrieved 26 January 2017. 
  51. ^ Brazilian tycoon Eike Batista held in corruption probe - BBC News, 30 January 2017

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