Eike Batista, one-time richest man in Brazil, is not the only former billionaire in the developing world.
His spectacular rise to outrageous fortune has been followed by an even more spectacular collapse into personal bankruptcy. Mr Batista was undone when his oil company failed to find any of the black stuff, sparking a cash crunch across his network of companies.
But the wider slowdown in Brazil’s economy also hurt him, as it has hundreds of others in the ultra-wealthy bracket – generally defined as people with net assets of at least $30m.
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