This Brazilian’s Promise: To Become the Richest Man on the Planet

    Brazil's Eike Batista

    Brazil's Eike Batista Brazil’s billionaire Eike Batista said that he expects to become the world’s richest person, speaking in an interview at the Milken Institute’s annual global conference in California. 

    Batista, whose net worth was recently estimated by Forbes magazine at 27 billion USD, didn’t specify when he thought he would vault to the top of the world’s-wealthiest list, where he currently is No. 8.

    “I have to compete with Mr. Slim,” Mr. Batista said, referring to Mexican billionaire Carlos Slim Helu, currently the world’s richest person as measured by Forbes. “Once you’re a racer, you never get it out of your blood. That’s why I have to race Mr. Slim. I don’t know if I’ll pass him on the left or the right, but I’ll pass him,” Batista said.

    Among four other people, Mr. Batista would also have to pass the second-richest person, Microsoft Corp. co-founder Bill Gates, and investor Warren Buffett, who is No. 3 on the Forbes list.

    In a wide-ranging discussion with conference director Michael Milken, Mr. Batista discussed his business philosophy and his impressions of the Brazilian and global economies.

    “I love to arbitrage inefficiencies,” he said. On a screen he displayed a slide that indicated that it costs his company, EBX Group, US$ 18 to produce a barrel of oil, which Monday sold on global markets for more than $112 a barrel. The company produces gold for $325 an ounce, he said. The metal currently trades at more than $1,500 an ounce.

    To handle a massive oil discovery that it is preparing to begin pumping off the Brazilian coast, Mr. Batista’s company is building the nation’s largest shipping port, capable of handling ships with 25-meter drafts.

    “When you see a small port with a 10-meter maximum [draft], that’s like flying people from New York to Europe in 737s: It won’t work!” he said. “Come on, you need something bigger.”

    A slide Mr. Batista displayed listed various traits a successful CEO needs, including “humility”, “ethics” and “transparency.” Another quality: “Luck.”

    Asked by Mr. Milken for an explanation of that entry, Mr. Batista joked: “I have a pact with Mother Nature; I drill and I find things”.

    Mr. Batista mentioned in passing another resource he is preparing to exploit: the 2014 soccer World Cup. “I just signed a deal – I’m going to be the exclusive seller of the tickets,” he said. “If you want tickets, you have to talk to me”.

    Mercopress

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Full Plate of Trade Fairs for Brazil in Arab World

    The Arab Brazilian Chamber of Commerce (CCAB) is going to promote Brazilian company participation ...

    Argentineans Go to Brazil to Do Business with Arabs

    Argentina has potential to double or even triple country exports to the Arab countries. ...

    Petrobras Brazil

    More Diesel and Less Imports Bring Brazil’s Petrobras US$ 2.9 Billion Surplus

    Petrobras, Brazil’s state-controlled oil and gas multinational, had a trade balance surplus of US$ ...

    Brazil Starts Curb on Chinese Textiles

    An agreement which limits the export of some Chinese textile products to Brazil goes ...

    Ana Hickmann Adds Charm and Value to Jewels Made in Brazil

    Brazilian jewels are already very successful in the country and abroad. What would happen ...

    Petrobras deep oil exploration off the coast of Bahia, Brazil

    Brazil’s Petrobras Exchange Technology with Mexico’s Pemex

    The president of Brazilian state-controlled oil company Petrobras, Sérgio Gabrielli, is in Mexico to ...

    Marcelo Tas's Twitter page

    Brazil Has Made Twitter into a Tool for a Fairer Democracy

    While Twitter has revolutionized communication in the US and around the world, it has ...

    Britain’s Shoot-to-Kill Policy Has Been Used in Brazil for Generations

    Nearly 200 people packed a lecture theater at the London School of Economics (LSE) ...

    X-Rated Help

    Around Sweethearts’ Day, the Health Ministry sent 800,000 postcards by mail with a little ...

    Brazilian Premium Coffee Gets a Home in California

    Limoneira Company, a 112 year-old Santa Paula land, farming and food company, is bringing ...