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http://www.bloomberg.com/news/2012-06-29/batista-s-companies-rebound-on-europe-ogx-ceo-rio-mover.html
Boastful billionaire Eike Batista, 55...recovered some of the $3.8 billion he lost over 2 days...when his commodity based fortune melted away on the Bovespa.
His energy company OGX...started the bloodbath when it severely revised downward estimated output at its 2 oil wells...by 75%.
Booming world markets...after agreements at the 20th European debt summit were announced...helped Batista recover some losses.
OGX is still down 62% ytd (WSJ)...because the markets no longer believe his often over-amped boasting.
But don't cry for Eike Batista, Brasilia...today he is still worth an estimated $19.6 billion.
His frequently announced quest to become the world's richest man...suffered a setback.
He now only ranks 27th in the world.
ORIGINAL LINK:
http://www.bloomberg.com/news/2012-06-28/batista-s-billions-wilt-on-missed-ogx-goal-in-brazil.html
