2. Lost Two-Thirds of His Money
The year 2012 had its ups and downs for Eike. In the beginning of the year he promised to become the number one in the top of the Richest Men in the World after being featured as number 10.
But he couldn’t do it considering that by the end of 2012 he lost two-thirds of his fortune and was in desperate need for cash.
His companies started having troubles and needed money desperately. OGX, the oil company, had lost 40% of its value halfway through 2012, as it had to cut production targets at its first two oil wells by as much as 75%.
And the mining company, MMX, got slapped with a $1.8 billion way-past-due tax bill.
In 2012, he struck a deal with Abu Dhabi’s Mubadala Development Company to invest $2 billion in EBX Group Co., which gave the Abu Dhabi Company a 5.63% economic stake in the company.
It all was his desperate need to raise money to develop his oil and mining businesses.
