Oil Tycoon Loses $33 Billion in One Year
By lucas@endneoliberalism On 29 Jul, 2013 At 03:22 PM | Categorized As General News | With 0 Comments

Eike Batista fall down from the top of the world when shareholders fled his company after overly optimistic forecasts did not materialize.

Batista, then the 7th richest man in the world, is now worth $200 million and change.

This can happen to anyone in a ficticiuous economy where peoples’ wealth is determined by… Well, ficticious estimates.

This case makes one reflect the real value of money, and more precisely the real value in spending one’s days pursuing money through industries that are not only harmful but they are deemed to collapse soon.

What happened to Batista could easily happen to the Koch Brothers or any other billionare with strong ties to aging industries that have huge diminishing returns.

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