I present to RVF an interesting case about Brazilian man who went from being one of the richest (topped at #8) with a 34.5 billion net worth to losing it all, his low point was 100 million.
1 - Story
He learned about natural resources from his dad, a minerals executive, and applied his skills in the gold trade back in the 90s. Batista succeeded and went from slanging nuggets to selling gold mines. Eike added the suffix "X" to his company as it signifies "the multiplication of wealth". He had it all, money, bitches, and fame.
Batista married a playboy model, had two kids, and a lovely house with a great view of Rio. His project in Greece failed, and falling gold prices did not help his projects in Russia and the Czech Republic. He lost his fortune, not to mention he got divorced a few years later. Never marry a broad during your game.
The Brazilian economic boom was starting to take off in 202 and Batista engaged in new projects. He succeed at first, and then branched off to other things. Near the end he had project in hydroelectricity, ports, minerals (iron ore), and was branching off to oil.
Due to his success in past ventures, any fool wanting to make money in Brasil went to him. The same way anyone wanting to make bank in North Korea goes to Kim Jong Un. He took their money and started talking about all of these gran discoveries he was going to make off shore. To help bring in confidence he hired people from Brazil's state oil company. Soon enough, people bought his story and OGX (Batista's oil company) was making claims about possible extraction numbers. Fuck logic, pitch numbers was OGX's unofficial number. OGX paid twice and fourfold at times to show how sure they were about their claims, many competitors were startled.
Meanwhile, he started splurging again. He bought many homes, a Mercedes SLR parked in his living room, and partying every day. Unfortunately his son ran over and killed a person while driving his father's SLR. Eike Batista was the hype about Brazil's never ending empire. His own ego projected he would be the richest man in a few years and be worth 100 billion by 2020.
OGX's findings were not matching their claims. Many cautioned Bautista to stop making extragavant claims but he continued. When production began, it did not yield investor's desired results. From there it went into a free fall spiral. Batista had to sell virtually all of his assets and is trying to settle with his creditors. The Brazilian securities agency is also investigating him. Not much is known about him as he has vanished from the face of Brazil and is now the joke of the country (and of the Rustler's too).
TL;DR - Guy becomes rich, spends lavishly, goes broke, gets rich again, fucks up again.
![[Image: feat_Batista41_e_315.jpg]](http://images.bwbx.io/cms/2013-10-02/feat_Batista41_e_315.jpg)
2 - Questions:
Why didn't he save the first time he was making money?
Why mess up the second time if you knew what could happen?
Was Batista's ego too big and cashing checks his SLR couldn't cash?
Why do people in developing countries do this?
How can one prevent this from happening to them?
The original story can be found below:
Batista - Bloomsberg
P.S - I wonder how brasileros feel about this since many of them get instantly butt hurt when someone criticizes their country.
![[Image: feat_batista41chart_630.jpg]](http://images.bwbx.io/cms/2013-10-02/feat_batista41chart_630.jpg)
1 - Story
He learned about natural resources from his dad, a minerals executive, and applied his skills in the gold trade back in the 90s. Batista succeeded and went from slanging nuggets to selling gold mines. Eike added the suffix "X" to his company as it signifies "the multiplication of wealth". He had it all, money, bitches, and fame.
Batista married a playboy model, had two kids, and a lovely house with a great view of Rio. His project in Greece failed, and falling gold prices did not help his projects in Russia and the Czech Republic. He lost his fortune, not to mention he got divorced a few years later. Never marry a broad during your game.
The Brazilian economic boom was starting to take off in 202 and Batista engaged in new projects. He succeed at first, and then branched off to other things. Near the end he had project in hydroelectricity, ports, minerals (iron ore), and was branching off to oil.
Due to his success in past ventures, any fool wanting to make money in Brasil went to him. The same way anyone wanting to make bank in North Korea goes to Kim Jong Un. He took their money and started talking about all of these gran discoveries he was going to make off shore. To help bring in confidence he hired people from Brazil's state oil company. Soon enough, people bought his story and OGX (Batista's oil company) was making claims about possible extraction numbers. Fuck logic, pitch numbers was OGX's unofficial number. OGX paid twice and fourfold at times to show how sure they were about their claims, many competitors were startled.
Meanwhile, he started splurging again. He bought many homes, a Mercedes SLR parked in his living room, and partying every day. Unfortunately his son ran over and killed a person while driving his father's SLR. Eike Batista was the hype about Brazil's never ending empire. His own ego projected he would be the richest man in a few years and be worth 100 billion by 2020.
OGX's findings were not matching their claims. Many cautioned Bautista to stop making extragavant claims but he continued. When production began, it did not yield investor's desired results. From there it went into a free fall spiral. Batista had to sell virtually all of his assets and is trying to settle with his creditors. The Brazilian securities agency is also investigating him. Not much is known about him as he has vanished from the face of Brazil and is now the joke of the country (and of the Rustler's too).
TL;DR - Guy becomes rich, spends lavishly, goes broke, gets rich again, fucks up again.
2 - Questions:
Why didn't he save the first time he was making money?
Why mess up the second time if you knew what could happen?
Was Batista's ego too big and cashing checks his SLR couldn't cash?
Why do people in developing countries do this?
How can one prevent this from happening to them?
The original story can be found below:
Batista - Bloomsberg
P.S - I wonder how brasileros feel about this since many of them get instantly butt hurt when someone criticizes their country.
Cattle 5000 Rustlings #RustleHouseRecords #5000Posts
Houston (Montrose), Texas
"May get ugly at times. But we get by. Real Niggas never die." - cdr
Follow the Rustler on Twitter | Telegram: CattleRustler
Game is the difference between a broke average looking dude in a 2nd tier city turning bad bitch feminists into maids and fucktoys and a well to do lawyer with 50x the dough taking 3 dates to bang broads in philly.