Inside Wealth

Brazilian tycoon who lost billions speaks out

Eike Batista
Patrick Fallon | Bloomberg | Getty Images

Calling himself the "biggest loser" for his part in one of the biggest wealth collapses in history, Brazilian entrepreneur Eike Batista gives his first interview since his empire crumbled earlier this year reports The Wall Street Journal.

The 56-year-old former powerboat racer said the oil executives he once called his "Dream Team" misled him and he is criticizing people he blames for his undoing

In just a year, the businessman went from being ranked the world's seventh richest man, worth about $30 billion, to being off the billionaire's list in one of the swiftest and largest financial implosions in modern times.

"I tried to create wealth for all of us. That was the reason we raised all the money—to create wealth and share it," Batista said Friday. "I believed in it. Living in a country that has these gigantic oil discoveries, why shouldn't I have been blessed with one?"

Click here to read the full story from The Wall Street Journal.

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