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From World's 7th Richest Man To Margin Calls In 15 Months

Tyler Durden's picture





 

My how the 'over-levered and cross-collateralized debt-is-wealth' mighty have fallen. Eike Batista, Brazilian entrepreneur, was the 7th richest man in the world in 2011 but as Forbes recently noted, he is the 'biggest loser' on their list (losing an incredible $2mm per hour), ending 2012 in 100th place after his biggest holding - OGX Petroleo E Gas  - slumped 80% in the last year (and a stunning 43% in 2013 alone) which means his net worth has plunged 20% YTD (according to Bloomberg). While he has the yacht, cars, speedboat, and jets to go with someone who apparently has a net worth of $9.9bn, he now has one more thing to worry about...

  • *BILLIONAIRE BATISTA SAID TO FACE COLLATERAL CALLS FROM BANKS

As Bloomberg notes, the billionaire faces demands from creditors to boost collateral as his other company MPX Energia saw its stock fall to record lows (as cross-collateralization leads towards a vicious circle). "Doubts about the group continue," one analyst notes as net debt at Batista's six publicly traded units more than tripled last year, "he really has to something to prove he isn't having a cash problem." On the bright side, we are sure his girlfriend will stay with him.

His largest holding OGX...

 

 

 

Via Bloomberg,

Eike Batista, the Brazilian billionaire whose oil-company shares fell to a record low last week, is close to selling a stake in MPX Energia SA (MPXE3) as he faces demands from creditors to boost collateral, people with direct knowledge of the matter said.

 

Among Batista’s biggest creditors is Sao Paulo-based Itau Unibanco Holding SA, with about 5.5 billion reais ($2.8 billion) in loans outstanding, said two of the people, who asked not to be identified because the matter is private. Batista borrowed about 4.8 billion reais from Banco Bradesco SA and 1.6 billion reais from Grupo BTG Pactual, not counting a credit line of $1 billion BTG provided earlier this month, the people said.

 

Batista, 56, used shares of his publicly traded companies as collateral for loans that helped build his empire of commodities and energy businesses, held as units of his EBX Group Co., the people said. Shares of his oil and gas company, OGX Petroleo e Gas Participacoes SA (OGXP3), plunged 8 percent in the past year, and Batista is trying to reduce collateral requirements by selling assets to pay debt, the people said.

 

A big part of investors’ mistrust now comes from the fact that Eike may be forced to cover margin calls on his debts,” Leonardo Brito, an equity analyst at hedge fund Teorica Investimentos, said in a telephone interview from Rio de Janeiro. “Doubts about the group continue.”

 

Net debt at Batista’s six publicly traded units more than tripled last year to a combined 15.8 billion reais, according to data compiled by Bloomberg based on the latest available figures. The companies posted a combined net loss of 1.68 billion reais in the first nine months of last year amid missed project targets and rising costs.

 

...

 

Batista, whose personal wealth declined about $25 billion in the past year as the share prices tumbled, can use the short- term liquidity line he received from BTG for any of his companies and for any purpose, including paying debt as a way to reduce collateral needs, one of the people said.

 

Itau, Bradesco and BTG declined to comment on collateral calls, according to bank officials who asked not to be identified in keeping with company policies.

 

...

 

Batista also would sell MPX shares to the public in the divestiture, which may raise more than $2 billion, the person said. An EON official declined to comment on the talks.

 

...

 

Batista sold part of the holding company EBX last year to Abu Dhabi’s Mubadala Development Co. and General Electric Co., slowing an expansion into mining and energy in Brazil, Colombia and Chile to focus on raising cash to boost output at existing projects.

 

Batista also aimed to sell all of his gold business, AUX, after disclosing plans last year to divest a 49 percent stake, two people familiar with the matter said last month. Vancouver- based Goldcorp Inc., the world’s second-biggest miner of the precious metal by market value, entered the talks for AUX after an agreement to negotiate exclusively with Qatar’s government expired in October, the people said. The pace of negotiations for AUX has slowed and a deal may not happen, one of the people said.

 

Batista also sought to sell shipbuilder OSX Brasil SA (OSXB3) to Sete Brasil Participacoes SA in exchange for a stake in the oil- rig contractor, according to two people with direct knowledge of the matter. He eventually gave up on the idea, Folha de S. Paulo reported in October, citing an interview with Batista.

 

OGX share’s price fell 44 percent this year, the second- biggest drop among 125 companies in the FTSE All World Oil & Gas Producers Index (AWOGPU), and investors are betting it will fall more as short-seller positions increase. ...

 

“He really has to do something to prove he isn’t having any cash problem,” Brito at Teorica said. “Maybe selling an asset, like MPX, or doing a farm-out at OGX; anything that proves that he has assets that he can sell at a good price.”

 

His Yacht

 

His Jet

 

His Speedboat


 

His Son's Girlfriend

 

... from another angle...

His Girlfriend

 

Could be worse we guess...

 

Two things spirng to mind... funny how leverage works both ways AND the joys of rehypothecation and cross-collateralization in this case are a perfect example of why when and if the world has a greater-than-5-to-10% correction in asset prices, the panic buttons will be hit hard...

 


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Mon, 03/18/2013 - 20:09 | Link to Comment Perpetual Burn
Perpetual Burn's picture

DAT ASS

Mon, 03/18/2013 - 20:12 | Link to Comment AssFire
AssFire's picture

I hope he spent it wisely on hookers and fine wine.. instead of just wasting it.

Mon, 03/18/2013 - 20:23 | Link to Comment american eyedol
american eyedol's picture

the tide is going out bitchez

Mon, 03/18/2013 - 20:28 | Link to Comment nmewn
nmewn's picture

"On the bright side, we are sure his girlfriend will stay with him."

Its always good to have some solid assets to fall back on ;-)

Mon, 03/18/2013 - 20:37 | Link to Comment Joe Davola
Joe Davola's picture

Glad to see Ashley Dupre has stabilized her life.

Mon, 03/18/2013 - 20:45 | Link to Comment Abraxas
Abraxas's picture

Don't care about the rich dudes or their girlfriends. So, she's got a nice ass. They can go screw themselves. What I do care about is that gold's holding above $1600. Now, that makes me excited.

Mon, 03/18/2013 - 20:52 | Link to Comment krispkritter
krispkritter's picture

Man, he took a haircut on that play...Is that the equivalent of a 'stock Brazilian'?

Mon, 03/18/2013 - 21:48 | Link to Comment Pure Evil
Pure Evil's picture

I guess they're right about the camera adding 10 lbs, but in this case it looks as if it added about 30 lbs.

Tue, 03/19/2013 - 00:06 | Link to Comment ACP
ACP's picture

Popozuda is the name for Brazilian large-ass.

Tue, 03/19/2013 - 01:11 | Link to Comment Big Slick
Big Slick's picture

Cankles

Tue, 03/19/2013 - 01:32 | Link to Comment Half_A_Billion_...
Tue, 03/19/2013 - 08:06 | Link to Comment TerminalDebt
TerminalDebt's picture

What you owe doesnt matter, as long as the bling gets the ass

 

And why is every comment about the ass?

Tue, 03/19/2013 - 10:01 | Link to Comment Pure Evil
Pure Evil's picture

Cause we can't see any nips or the big V-giny.

Tue, 03/19/2013 - 21:55 | Link to Comment mjcOH1
mjcOH1's picture

"And why is every comment about the ass?"

Because it"s epic. And the rest of the toys are bullshit.

Wed, 03/20/2013 - 13:02 | Link to Comment TerminalDebt
TerminalDebt's picture

actually the rest of the toys are there to get the epic ass

Mon, 03/18/2013 - 23:20 | Link to Comment smlbizman
smlbizman's picture

...after many hours of study, and with 55 yrs of experience , i feel qualified to say that this ckick has the finest ass on the planet....the only thing that could make it better, would be having it abusing me.....blows that smokin hot  israeli chick on the beach with the machine gun to shame....

Mon, 03/18/2013 - 23:51 | Link to Comment lewy14
lewy14's picture

That's some serious tail... risk...

Mon, 03/18/2013 - 23:54 | Link to Comment Real Estate Geek
Real Estate Geek's picture

No.  Not even close.  THIS is the finest ass on the planet:

http://boston.barstoolsports.com/files/2011/10/keyra_augustina_011.jpg

You're welcome.

Tue, 03/19/2013 - 00:39 | Link to Comment varnelius
varnelius's picture

OMG, I can hardly look away.  If any piece of ass was calling for a brick, its that one.  (Step 1: use the brick to knock them out.  Step 2: ..., Step 3: profit!)

Tue, 03/19/2013 - 07:11 | Link to Comment frenchie
frenchie's picture

boing

Mon, 03/18/2013 - 20:30 | Link to Comment Momauguin Joe
Momauguin Joe's picture

In the end, they began to cannibalize each other.

Mon, 03/18/2013 - 20:59 | Link to Comment Abraxas
Abraxas's picture

You mean they'll eat each other out?

Mon, 03/18/2013 - 20:36 | Link to Comment smlbizman
smlbizman's picture

so when did we start just doing photo spreads without articles?

Mon, 03/18/2013 - 21:48 | Link to Comment dark pools of soros
dark pools of soros's picture

blame zuckerfucker

Mon, 03/18/2013 - 20:47 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

Look at pictures 2 and 3 of his girlfriend. What happened to her boobs?

Mon, 03/18/2013 - 20:55 | Link to Comment kaiserhoff
kaiserhoff's picture

As Dow liked to say, Better Living Through Chemistry, in this case, silicone.

Tue, 03/19/2013 - 09:06 | Link to Comment Mr. Badger
Mr. Badger's picture

Gonna wax pedantic, "Better Things for Better Living...Through Chemistry." was a DuPont slogan.

Mon, 03/18/2013 - 21:44 | Link to Comment stacking12321
stacking12321's picture

for the reading comprehension-impaired:

the first 2 photos are of his son's gf

the 3rd photo is his gf

 

Mon, 03/18/2013 - 21:59 | Link to Comment Matt
Matt's picture

RTFA. The first two pics are his son's girlfriend; the last pic is his girlfriend. Why is his son's girlfriend relevant? Because she brings more traffic to the article, that's why.

Mon, 03/18/2013 - 21:35 | Link to Comment masterinchancery
masterinchancery's picture

Looks like nip and tuck to  me.

Mon, 03/18/2013 - 21:02 | Link to Comment Buck Johnson
Buck Johnson's picture

No kidding, I love the girl.

Mon, 03/18/2013 - 21:38 | Link to Comment Leto II
Leto II's picture

How many times can you UP arrow yourself? 20 UP arrows on 58 comments? I call bull shit

Mon, 03/18/2013 - 21:50 | Link to Comment Pure Evil
Pure Evil's picture

You don't need to post a comment to up or down arrow another comment. There were over 8000 reads so anyone of them could have up arrowed the dude.

Mon, 03/18/2013 - 21:39 | Link to Comment wee-weed up
wee-weed up's picture

Bazillion Ho's...

pure milk-chocolate orgasms, bitchez!

Mon, 03/18/2013 - 23:08 | Link to Comment fudge
fudge's picture

Chocolate Fudge :))  like tasty Thai girlies.

 

Mon, 03/18/2013 - 23:19 | Link to Comment conspicio
conspicio's picture

Flavia Sampaio is a hottie and an attorney. We'll see if 4 years of bliss means she sticks by her margin called man. As for the son, he chose the one that gets naked more often. Google images for Nicole Bahls. Day-um gurl.

Mon, 03/18/2013 - 20:10 | Link to Comment ACP
ACP's picture

Is she a Kardashian?

Mon, 03/18/2013 - 20:12 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

No. The girl in this pic is a virgin I'm sure.....

Mon, 03/18/2013 - 20:13 | Link to Comment sunnyside
sunnyside's picture

Is he black?

 

Mon, 03/18/2013 - 20:15 | Link to Comment AssFire
AssFire's picture

No, just spends like one apparently.

Mon, 03/18/2013 - 20:19 | Link to Comment Theta_Burn
Theta_Burn's picture

LOL nice

Let this be a lesson to all you billionaire out there. spend all your time with your face buried in fine ass whilst jetting to your motorboat, you to will face margin calls.

 

Tue, 03/19/2013 - 09:01 | Link to Comment hapless
hapless's picture

spend all your time with your face buried in fine ass whilst jetting to your motorboat, you to will face margin calls.

...and hopefully you'll run out of gas before you run out of ocean.

Mon, 03/18/2013 - 20:12 | Link to Comment Hedgetard55
Hedgetard55's picture

Just one girlfriend? Loser.

Mon, 03/18/2013 - 20:43 | Link to Comment Bastiat
Bastiat's picture

He seems to have missed the whole "diversification" concept.

Mon, 03/18/2013 - 21:22 | Link to Comment buckethead
buckethead's picture

With a middle name like Fuhrken, one would think he had better game.

Mon, 03/18/2013 - 21:50 | Link to Comment 1C3-N1N3
1C3-N1N3's picture

"Game" is indicative of gynocentric preoccupation.

Used to be, before rampant gynocentric thought (in the west at least), man would engage in _healthy_ competition with his fellow man to go build/add to civilization, and he wouldn't have to worry about shit like Game. Bitches gravitate to us because they tend to like civilized life and those who participate in its construction. THEN you fuck them. Net gain to humanity: improvement (or establishment) of civilization.

These days, man engages in _unhealthy_ competition with his fellow man _just_ for a _hint_ of access to females. All the cutthroating and cockblocking and destructive behavior for what -- what's the net gain to humanity here? Your dick gets wet? This is a big factor in western decline that's not discussed, even here.

Tue, 03/19/2013 - 01:27 | Link to Comment dogbreath
dogbreath's picture

I blame femminists

Mon, 03/18/2013 - 20:13 | Link to Comment Spitzer
Spitzer's picture

Im having a better year in Jr Mining stocks and this is the worst ever.

 

His girlfreind.... Meh Has a French nose. Must be Sarko's daughter. And she doesn't have much for hips.

Mon, 03/18/2013 - 21:01 | Link to Comment Ness.
Ness.'s picture

Is she for sale?  

 

"How much for the little girl?  the women? How much for the women.. I want to buy your women"

 

http://www.youtube.com/watch?v=mvZgwtpPmLY

Mon, 03/18/2013 - 20:17 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

If he needs to sell 'ass'ets, I would like to put my bid in for his girlfriend. On an hourly basis, that is.

Mon, 03/18/2013 - 20:20 | Link to Comment Whoa Dammit
Whoa Dammit's picture

Can someone please e-mail this post to Mr. " That's why I'm richer than you" Dimon ?

Mon, 03/18/2013 - 20:22 | Link to Comment IndicaTive
IndicaTive's picture

Nice Freudian picture sequence.

Mon, 03/18/2013 - 20:22 | Link to Comment seek
seek's picture

full size and photo set: http://hotwomeninbikini.blogspot.com/2011/02/brazilian-model-nicole-bahl...

Better than staring at charts all day I guess.

Mon, 03/18/2013 - 20:26 | Link to Comment Theta_Burn
Theta_Burn's picture

Dude...

Had to ruin it by posting the "frontal" yikes

Mon, 03/18/2013 - 20:31 | Link to Comment seek
seek's picture

Sorry man, I was shocked at that too.

On the bright side, I now know for certain I've banged hotter chicks than a billionaire's heir, that's not so bad.

Mon, 03/18/2013 - 21:01 | Link to Comment Key-Rick
Key-Rick's picture

It appears his girlfriend has experienced some deflation in the frontal region.

Mon, 03/18/2013 - 20:59 | Link to Comment OMG
OMG's picture

It's not the face you fuck!

It is the fuck you face!

Tue, 03/19/2013 - 15:41 | Link to Comment RockyRacoon
RockyRacoon's picture
Nicole Bahls ?

Well, I'll bet that's true...

Mon, 03/18/2013 - 20:28 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

Seek./.. Zorba raises his bid.

Mon, 03/18/2013 - 20:23 | Link to Comment MsCreant
MsCreant's picture

Loss of confidence is the theme of this week, I think.  

Mon, 03/18/2013 - 20:30 | Link to Comment nmewn
nmewn's picture

I see what you did there...lol.

Mon, 03/18/2013 - 21:40 | Link to Comment Edward Fiatski
Edward Fiatski's picture

Son's girlfriend needs a nose job, 9.9 bln can't afford that? Heh. I like the speedboat, though.

Mon, 03/18/2013 - 20:23 | Link to Comment gatorengineer
gatorengineer's picture

For a young Brazillian is is a 3.5  

Mon, 03/18/2013 - 20:36 | Link to Comment Kastorsky
Kastorsky's picture

out of 10?

Mon, 03/18/2013 - 20:24 | Link to Comment Seasmoke
Seasmoke's picture

#7 in world ................that would have to be the largest fall in history........

Mon, 03/18/2013 - 22:23 | Link to Comment chindit13
chindit13's picture

No.  Check out a long term graph of Japanese firm Hikari Tsushin (9435.T) and note the rise and fall of its founder, Yasumitsu Shigeta.  At his peak he was in the Top 3 with a NW of $41 billion.  Then the stock fell 99.7%.  Sure he can still afford his miso ramen and gyoza, but a decade ago he could have bought Cyprus.  Also, there was a Russian mine owner---can't recall his name---who had a bad 2008.

Mon, 03/18/2013 - 20:27 | Link to Comment Pseudo Anonym
Pseudo Anonym's picture

ok,

anything that proves that he has assets that he can sell at a good price.

how much for the girlfriend?

Mon, 03/18/2013 - 22:49 | Link to Comment sodbuster
sodbuster's picture

If you have to ask, you probably can't afford her!! LOL

Mon, 03/18/2013 - 20:27 | Link to Comment Clayton Bigsby
Clayton Bigsby's picture

I like her ass. I'd like to wear it as a hat.

Mon, 03/18/2013 - 21:55 | Link to Comment Pure Evil
Pure Evil's picture

I guess you could call it a...........Brazillain Ass Hat.

Mon, 03/18/2013 - 20:32 | Link to Comment q99x2
q99x2's picture

YeeeeeHaaaaaa. Summer SoCal beaches soon to arrive. Nothing keep me running faster on the track than some of that in front of me.

I try not to look but as they say practice makes perfect.

Mon, 03/18/2013 - 20:33 | Link to Comment The Invisible Foot
The Invisible Foot's picture

Hope the girls don't mind skin cancer due to global warming caused by oil company's like his.

Mon, 03/18/2013 - 21:36 | Link to Comment Terminus C
Terminus C's picture

Uh... how does global warming cause skin cancer?

I mean carcinogenic particulate from exhaust, toxic chemicals in the ground and water, and pollution from petroleum plants sure... but global warming?

Mon, 03/18/2013 - 21:57 | Link to Comment Pure Evil
Pure Evil's picture

Warm weather makes Brazillain girls want to take clothes off. Ok, they really don't need a reason.

Mon, 03/18/2013 - 20:40 | Link to Comment Downtoolong
Downtoolong's picture

On the bright side, we are sure his girlfriend will stay with him.

Until she finds out he mortgaged her jewelry and shoe collections too.

 

Mon, 03/18/2013 - 20:43 | Link to Comment b_thunder
b_thunder's picture

When commodity prices and especially oil fell in 2008, just about every Russian Billionaire was in much worse trouble.  When Lehmnan went under, most of their wealth was gone and the margin calls (in dollars!) were rolling in. 

But not to worry:  Ben Bernanke came to the rescue (he always does, doesn't he?)  by opening a $500B "currency swap line" with the Russian Central bank, which was used by the Kremlin to bail out the Kremlin-friendly oligarchs and to buy out at "distress prices" the less friendly ones.  And thanks to Bernanke's "reflation" strategy oil went back to $100+, and most of the oligarchs fully recovered their wealth, while the Kremlin-dwellers  became that much wealthier from the assets they've acquired in crisis.

 

Mon, 03/18/2013 - 20:46 | Link to Comment Gromit
Gromit's picture

Most I ever lost in an hour was $700K ...Aug 13 2008, the infamous "Discount Window" announcment.

 

Tue, 03/19/2013 - 06:38 | Link to Comment jeebus
jeebus's picture

Infamous in your own mind.

Mon, 03/18/2013 - 20:47 | Link to Comment Scro
Scro's picture

Bet that ass ain't gonna see as much action as Cypriot ass.

Mon, 03/18/2013 - 20:49 | Link to Comment random shots
random shots's picture

Cash rules everything around me...dolla dolla bill y'all

- Prime Brokers

Mon, 03/18/2013 - 20:49 | Link to Comment Taint Boil
Taint Boil's picture

 

 

Finally, real pictures and not just thumbnail teasers - you guys are learning.

Mon, 03/18/2013 - 20:51 | Link to Comment YHC-FTSE
YHC-FTSE's picture

Are you sure that's his yacht? It looks like the crappy ferry I took to Cyprus.

I am trying very hard to summon up some sympathy, but if I strain any harder I'll shit myself.

Mon, 03/18/2013 - 20:54 | Link to Comment little buddy bu...
little buddy buys the dips's picture

they let her into the ocean?? christ, they'll never get that smell out of the water.

Mon, 03/18/2013 - 21:41 | Link to Comment krispkritter
krispkritter's picture

No, no, no...the punchline is "They'll never get that smell out of the fish..."...

Mon, 03/18/2013 - 21:01 | Link to Comment Parrotile
Parrotile's picture

Both those boats and the aircraft use heaps of fuel, and it has to meet a fairly tight standard.

He may have money, but if that fuel's not there, all the money in the World will not make it appear "by majick"!

And without fuel, they are just expensive hulks, going nowhere.

Sailpower is by far the best (and possibly the only realistic) hedge against any fuel crisis. Wind's still plentiful, and still free.

Mon, 03/18/2013 - 21:06 | Link to Comment are we there yet
are we there yet's picture

For 2 million an hour women will do interesting things.

Mon, 03/18/2013 - 22:00 | Link to Comment Pure Evil
Pure Evil's picture

Are you implying that his girlfriend is a high priced whore?

Mon, 03/18/2013 - 21:19 | Link to Comment I am on to you
I am on to you's picture

Did you know,that his son :Thor Bastista,was attacked by a bicicle,with the speed of 130 km,and almost was killed??

Sadly,the poor guy on the bicile,was not so lucky,that he survived the meeting with a super Mercedes:

B as in brick,thick as a brick:You lookout,2014,put on the bulletproof vest.

The good side,the proof girls are learning Anglish,so they can say,dollar/Euro,matter not!

Who gave them Choop 2014,Sep Splatter.Boomtown Rat,come um salgadinho con carne humano,nordeste!

Mon, 03/18/2013 - 21:21 | Link to Comment Demogorgon
Demogorgon's picture

Her ass has nothing on my avatar.

Tue, 03/19/2013 - 05:26 | Link to Comment adamas
adamas's picture

my avatar is even better... bit small tho

Mon, 03/18/2013 - 21:22 | Link to Comment Leto II
Tue, 03/19/2013 - 08:53 | Link to Comment StychoKiller
StychoKiller's picture

As long as they got the curves, I got the angles! :>D

Mon, 03/18/2013 - 21:23 | Link to Comment 1C3-N1N3
1C3-N1N3's picture

.

...asked not to be identified because the matter is private.

Not anymore it ain't.

What does this guy's kid do that's worth a shit?

Let me guess, he's one of these My-Dad-Has-A-Dealership guys...

(~15 seconds) http://www.tubechop.com/watch/1035053

Mon, 03/18/2013 - 21:25 | Link to Comment Biggieshort
Biggieshort's picture

His girls ASSets are making me go long.

Mon, 03/18/2013 - 22:02 | Link to Comment willwork4food
willwork4food's picture

My position is longer than yours.

Mon, 03/18/2013 - 22:49 | Link to Comment Biggieshort
Biggieshort's picture

I was told your position is Microsoft.

Mon, 03/18/2013 - 23:26 | Link to Comment Ms. Erable
Ms. Erable's picture

Both of you, please cover your shorts.

Mon, 03/18/2013 - 22:05 | Link to Comment Herkimer Jerkimer
Herkimer Jerkimer's picture

'

''

'

And when da money's gone…

 

So is da girl!

 

•J•
V-V

Tue, 03/19/2013 - 07:36 | Link to Comment helping_friendl...
helping_friendly_book's picture

She better lose some wieght if she dreams of catching another billionaire.

Mon, 03/18/2013 - 21:46 | Link to Comment lolmao500
lolmao500's picture

Billionaire yet he still ``invest`` in the totally rigged market... how fucking ridiculous. Sell everything, stay out of the markets forever, you'll still have plenty of money when you die and your son dies.

Mon, 03/18/2013 - 22:15 | Link to Comment Matt
Matt's picture

It sounds like the only companies he owned stock in were his own companies.

Mon, 03/18/2013 - 22:02 | Link to Comment hamstercheese
hamstercheese's picture

"Among Batista’s biggest creditors is Sao Paulo-based Itau Unibanco Holding SA, with about 5.5 billion reais ($2.8 billion) in loans outstanding, said two of the people, who asked not to be identified because the matter is private."

Ain't too private if hamstercheese knows about it.

Mon, 03/18/2013 - 22:07 | Link to Comment MaxMax
MaxMax's picture

The guys is (was) worth 10B and he has a, wtf is that, a 7 person Lear?  Are you kidding?  That's one of those jets with the last seat that is also the toilet.  Anybody worth that sort of money will have a G5 or more.  The big boat looks like a fucking passenger taxi boat - can't be real.  The speedboat is nice - not sure if it is an Azimat or Pershing or what.  Only cool toy I see.  I have found better looking women at dollar bars.

Mon, 03/18/2013 - 22:47 | Link to Comment chump666
chump666's picture

What an a-hole, probably got bonned when the DXY shot into hyperspace and destroyed BRL margins.  Brazil is f*cked.

Yo, "how much for the wife?"

http://youtu.be/ZLUiK2lbN2s

Ohhh his jet plane looks so phallic...

Mon, 03/18/2013 - 22:52 | Link to Comment Blano
Blano's picture

Is she anywhere close to 56?  Doesn't seem like it.  Nice ass though.

Mon, 03/18/2013 - 23:27 | Link to Comment Dr Benway
Dr Benway's picture

This joker ain't got nothing on Australia's very own Nathan "Fat Fuck" Tinkler in the riches to rags department

Mon, 03/18/2013 - 23:31 | Link to Comment adr
adr's picture

and that's why wealth isn't fucking sheets of paper that are supposed to represent an accurate value of the market for a coporation's sales and assets. When near 100% of a corporation is fraud, near 100% of the wealth held by executives is fraudulent.

Fuckerberg and the rest of the trash to billionaire set are only wealthy because some idiots assigned multi billion dollar valuations to corporations worth less than the mineral composition of the shit I took earlier today. Worthless pieces of paper, sorry 1s and 0s today, can somehow be traded for yachts, jets, mansions, and girls in their 20s with tight asses.

Take away the stock market and how many of these billionaires would be left?

If your corporation is billions of dollars in debt, and you have no profit, how the fuck can you be a billionaire? What a con game this fucking world has created.

Like Donald fucking Trump going bankrupt how many times, yet te banks gave him a couple hundred million to live on until he got back on his feet leveraging out worthless assets for real cash.

Bring on a 99% Cyprus wealth confiscation tax on stock holdings. About time we rid the world of unearned wealth.

Tue, 03/19/2013 - 02:30 | Link to Comment U4 eee aaa
U4 eee aaa's picture

It just goes to show that, for people like that, it is never about a 'having enough money' problem. It is almost always about 'the greed to get more' problem. And this is usually their downfall.

No sympathy

Tue, 03/19/2013 - 07:33 | Link to Comment helping_friendl...
helping_friendly_book's picture

I think she wants to have sex with me! Plump ass on that one.

Tue, 03/19/2013 - 07:35 | Link to Comment resurger
resurger's picture

Tight!

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