Reuters
Eike Batista.
According to Bloomberg's Billionaires Index, Batista, who was worth $35 billion in 2012, now owes $1.2 billion.
Furthermore, a Brazilian federal judge is ordering the seizure of Batista's assets, Bloomberg's Blake Schmidt reported Friday.
Authorities are seizing all of Batista's financial assets in Brazil, as well as any real estate, his boat and his airplanes.
This is the latest action taken against Batista for charges of insider trading and stock manipulation, in an alleged attempt to save his flagship oil company OGX. Batista made his first fortune trading gold in the 1980s, and went on to start six companies in mining, energy, and oil.
In 2013, Batista's billion-dollar empire came crashing down, losing $9.7 billion. After the fall of OGX in 2013, Batista's net worth dropped to about $200 million.
Four of Batista's companies are now bankrupt, and the former billionaire is still working on paying off his debts.
It's a rough turn for a man who once claimed that he would become the richest man in the world. Batista had been on his way at the 7th richest rank, before his fortune evaporated.
But there's still a ray of hope.
Schmidt reported that according the book "All or Nothing" by Malu Gaspar, Batista sought out advice from a Buddhist monk, who told him he would become the world's richest man in 2017.
So Batista still has two years to get there.