Post by ukipa on Jun 28, 2012 17:15:16 GMT 4
Wow. To have so much one day and most of it is gone by the next day. Read on.
Batista’s Billions Wilt on Missed OGX Goal in Brazil
Eike Batista, who energized Brazilian markets by taking six startups public since 2006, is no longer among the world’s 20 richest people after shares of his commodity empire plunged, wiping $2.4 billion from his fortune.
OGX Petroleo & Gas Participacoes SA, Batista’s biggest company, lost 25 percent of its value yesterday after cutting production targets at its first two oil wells by as much as 75 percent. The drop dragged down Batista’s mining, logistics and shipbuilding companies on concern the enterprises, some of which rely on OGX for revenue, will scale back targets as well.
Read full article...
www.bloomberg.com/news/2012-06-28/batista-s-billions-wilt-on-missed-ogx-goal-in-brazil.html
Batista’s Billions Wilt on Missed OGX Goal in Brazil
Eike Batista, who energized Brazilian markets by taking six startups public since 2006, is no longer among the world’s 20 richest people after shares of his commodity empire plunged, wiping $2.4 billion from his fortune.
OGX Petroleo & Gas Participacoes SA, Batista’s biggest company, lost 25 percent of its value yesterday after cutting production targets at its first two oil wells by as much as 75 percent. The drop dragged down Batista’s mining, logistics and shipbuilding companies on concern the enterprises, some of which rely on OGX for revenue, will scale back targets as well.
Read full article...
www.bloomberg.com/news/2012-06-28/batista-s-billions-wilt-on-missed-ogx-goal-in-brazil.html