Brazillionaires : The Godfathers of Modern Brazil

Longlisted for the Financial Times Business Book of the Year Award Wealth and power on the trail of the super-richIn 2012, Brazilian tycoon Eike Batista was the eighth richest man in the world, his $30bn fortune built on Brazil's incredible natural resources. By the middle of 2013 he had lost it all, engulfed in scandal. Brazillionaires is a fast-paced account of Batista's rise and fall: a story of helicopter flights, beach-front penthouses and high-speed car crashes. Along the way, it tells the parallel story of Brazil itself, a country caught in the cycle of boom and bust, renewed hope and dashed promise; a country where the hyper-rich are at the heart of the economy - and where their wealth can buy immense political power. Stefan Zweig said in 1941 that Brazil was the country of the future; Brazilians joke that it always will be. Today, rampant corruption and endemic inequality threaten to derail the new Brazilian Dream. The brazillionaires are the key to understanding that dream; through them Brazillionaires tells the story of their country's past, present and future. When Bloomberg News invited the young American journalist Alex Cuadros to report on Brazil's emerging class of billionaires at the height of the historic Brazilian boom, he was poised to cover two of the biggest business stories of our time: how the giants of the developing world were taking their place at the center of global capitalism, and how wealth inequality was changing societies everywhere. The billionaires of Brazil and their massive fortunes resided at the very top of their country's economic pyramid, and whether they quietly accumulated exceptional power or extravagantly displayed their decadence, they formed a potent microcosm of the world's richest .001 percent. They held sway over the economy, government, media, and stewardship of the environment; they determined the spiritual fates and populated the imaginations of their countrymen. In 2012, Eike Batista ranked as the eighth-richest person in the world, was famous for his marriage to a beauty queen, and was a fixture in the Brazilian press. But by 2015, Batista was bankrupt, his son Thor had been indicted for manslaughter, and Brazil--its president facing impeachment, its provinces combating an epidemic, and its business and political class torn apart by scandal--had become a cautionary tale of a country run aground by its elites. Over four years, Cuadros reported on media moguls and televangelists, energy barons and shadowy figures from the years of military dictatorship, soy barons who lived on the outskirts of the Amazon, and new-economy billionaires spinning money from speculation. His zealous reporting takes us from penthouses to courtrooms, from favelas to art fairs, from scenes of unimaginable wealth to desperate, massive street protests. Within a business narrative that deftly dramatizes the volatility of the global economy, Cuadros offers us literary journalism with a grand sweep.--Adapted from dust jacket. In 2012, Brazilian tycoon Eike Batista was the 8th richest man in the world, his $30bn fortune built on Brazil's incredible natural resources. By the middle of 2013 he had lost it all, engulfed in scandal. 'Brazillionaires' is a fast-paced account of Batista's rise and fall, and the rise and rise of the hyper-rich, not just in Brazil but the world over: a story of helicopter flights, high-speed car crashes and beach-front penthouses. But it is also an investigation into a country apparently poised to become a superpower, yet beset by endemic inequality and corruption An investigative journalist uncovers the murky, scandalous world of Brazil's billionaires.