Eike Batista's Empire Soared, Then Melted Into Bankruptcy

RIO DE JANEIRO—In 2006, Eike Batista strode into Rio's opulent Copacabana Palace hotel for cocktails with a Canadian pension fund looking to play Brazil's rise. Mr. Batista didn't make it. Starting in 2006, Mr. Batista publicly listed five startups in five years, creating a Brazilian commodities empire from scratch. The 56-year-old's backers ranged from General Electric's chief executive, Jeff Immelt, to portfolio giant BlackRock Inc. By last year Mr. Batista ascended to the Top 10 of the Forbes list, with wealth of more than $30 billion.



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