More than a decade after seeing his empire collapse, he is trying again to rewrite its history. And, apparently, he continues to bet big. The businessman, who became the seventh richest man in the world, with a fortune valued at more than US$30 billion by Forbes, was one of the speakers at the GCB Panel “The value of uncertainty”, held this Wednesday (29) in São Paulo.
At the meeting, Eike refuted his reputation as an adventurer in business. “Everyone thinks I was the guy who took the most risks in Brazil, but I’m actually an excellent seeker of opportunities,” he said.
According to him, he never invested in ventures that did not guarantee margins of 60% and potential return of 10 to 100 times. “The carrot that I need to see up front has to guarantee sufficient gains to accept a challenge,” he said, citing the example of a mine in Chile, where he spent US$30 million and sold the asset for US$100 million.
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The narrative contrasts with the collapse of Group X, which collapsed when the oil company OGX — the foundation of the conglomerate — gave up exploration in the Campos Basin. The shares plummeted, dragging down the other companies in the group. In a short time, Eike’s fortune dwindled to R$3 billion, around 10% of the value it had a year before.
The businessman also faced market discredit and imprisonment, twice, during Operation Lava-Jato, for corruption, money laundering, market manipulation and use of privileged information. His biography was so intense that it even became a film in 2022, and he even became a meme on social networks when he ventured into a career as an entrepreneurship influencer.
Now, Eike tries a new trick. It presents new projects, such as supercane, which promises to produce up to 12 times more bagasse per hectare and generate biodegradable fibers; a port in Peruíbe (SP), 70 kilometers from Santos, to serve Chinese super ships, and even a tailings mining company.
“I don’t take risks, I study a lot and look for opportunities that others don’t see, with high earning potential to mitigate risk with knowledge”, said the businessman at the end of the talk, trying to overcome the market’s caution and start a new chapter in one of the most controversial biographies of Brazilian capitalism.
