How does one of the world's richest men lose more than $30 billion in a single year? With hubris, mostly.
Then, he decided to start an oil company. Sounded great, at first!
At the end of April 2012, Batista would tell Bloomberg TV that his companies were sitting on $1.5 trillion of “underlying assets.” That amounts to the entire estimated value of all the mineral assets in Mongolia.
As of this summer, Batista's net worth stood at well under $1 billion.
He did not find as much oil as he thought.