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He and Gina Rinehart were both powerful billionaire Australian mining magnates. The family lived in Illovo, a suburb of Johannesburg. Follow. Initially, Glencore sold shares in public at the London Stock Exchange (May 2011). The DRCs state-owned mining company, La Gnrale des Carrires et des Mines (Gcamines), had begun legal proceedings in that country to dissolve the Kamoto Copper Company (KCC), in which Katanga Mining held 75%, with Gcamines holding the remaining 25%. . Glencore transformed itself from a trading firm to a mining and trading behemoth by acquiring Xstrata. Ivan Glasenberg worked at Marc Rich and Co., a commodity-trading firm in Johannesburg. Ivan Glasenberg - Bio, Age, net worth, Wiki, Facts and Family - in4fp.com In case you were not aware, Glencore is one of the worlds biggest commodity trading company. And because of the cash we generate, we were able to make compelling returns to shareholders. ", Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved. [4] He received his MBA from the IBEAR program at University of Southern California in 1983.[5]. They demanded instant action to protect their investment. To get this mega-merger over the finishing line, hed taken the extraordinary step of personally telephoning Blair, an old chum, to act as a mediator who could help iron out some crucial differences between the two sides. When you put that culture and these environments together, the odds of shenanigans happening are really high. Rich died in 2013, age 79, a billionaire and a free manan example that Glencores next generation of fat cats now seek to follow. All three left the company in the past two years, but neither they nor other billionaire executives have yet been fingered in the Department of Justice investigation into Glencores misdeeds, resolved this week with the companys admissions of guilt and $1.1 billion in fines. Worse than that, it has debts of 19 billion. A year earlier, from his base in Switzerland, he had floated shares in Glencore on the London Stock Exchange in what was Britains biggest ever stock offer. Gifted.. According to Forbes, Ivan Glasenberg net worth 2019 is $4.5 billion. We also use third-party cookies that help us analyze and understand how you use this website. Shareholders also dont seem to be too perturbed by the fact that the company, which has a primary listing on the London Stock Exchange and a secondary listing on the JSE, is facing a barrage of corruption investigations. After earning his MBA from the University of Southern California in 1983, Ivan started working at the age-old, famous oil traders Marc Rich. Additionally, they are also creative and resourceful deep thinkers. COLUMN | What the Glencore conviction tells us about corruption and [8] Glencore is the corporate successor to Marc Rich & Co AG. Glasenberg is a hands-on CEO, yet the board was unable to explain adequately how the Katanga Mining misstatements happened. Ivan Glasenberg is a South African billionaire businessman. In addition to certain standard Google cookies, reCAPTCHA sets a necessary cookie (_GRECAPTCHA) when executed for the purpose of providing its risk analysis. Ivan is from a Jewish background where his father, Samuel Glasenburg, was an importer and luggage manufacturer in Lithuania. This cookie is used for the implementation of the news content from other sites.