Brazil's flamboyant playboy tycoon takes big fall

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Posted: Thursday, October 31, 2013 12:00 am

RIO DE JANEIRO (AP) - Just a few years ago, flamboyant billionaire Eike Batista was boasting that he'd soon be the world's richest man. He loved to show visitors his Mercedes-Benz McLaren - parked right in the living room of his mansion.

The fall has been deep and fast. Batista's OGX oil company filed for bankruptcy protection Wednesday in a stunning reverse for the champion speedboat racer who came to symbolize the country's economic boom with Brazilian flair.

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