Sun, Aug 10, 2014 - Page 7 News List

Brazil’s Batista sells Lamborghini as his riches turn to rags

BOOM OVER:Once the country’s richest man, Eike Batista has been feeling the pinch and has been selling his rich-man’s toys, including a massive yacht


Brazilian millionaire Eike Batista, who over the past year lost a sizeable portion of his vast wealth, has sold the prized Lamborghini that once adorned his living room, news reports said.

Television station G1 wrote on its Web site on Friday that the businessman recently sold the white Lamborghini Aventador sportscar to a dealership in the town of Goiania, in the central-west region of Brazil.


The 2012 vehicle was in nearly mint condition, with just 2,000km on the odometer.

New, its sticker price was listed at about 3 million reais (US$1.3 million).

Batista, 57, once Brazil’s richest man, came to symbolize the world’s infatuation with emerging economic behemoth Brazil, luring foreign investors to his grandiose oil projects.

He has been holding a fire sale to rid himself of some of his most expensive toys, after financial downturns and a recent bankruptcy filing by his EBX Group, a conglomerate including energy, mining and shipping units, as well as other components.


As his businesses went from boom to bust, Batista’s personal wealth has shriveled as well.

His fortune in 2012 was estimated to be more than US$30 billion, but has shrunk to less than US$100 million.

Among the prized possessions Batista has been shedding in recent months are his helicopter, three private jets, an enormous yacht and the Hotel Gloria in Rio de Janeiro.

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