Rich and infamous skeleton in the cupboard

April 12, 2011

Glencore’s looming flotation, in which the company could be valued at $60 billion, will bring the Swiss commodities trader into the public eye for the first time, forcing it to confront its controversial past. Read the rest of this entry »


The biggest company you never heard of

March 11, 2011

On Christmas Eve 2008, in the depths of the global financial crisis, Katanga Mining accepted a lifeline it could not refuse. Read the rest of this entry »


Der große Unbekannte

January 30, 2011

Obwohl Marc Rich in den 1970er-Jahren mit einer Handvoll Partnern das Kartell der Ölmultis zerschlug und zum Milliardär wurde, blieb er weiterhin der große Unbekannte der Weltwirtschaft. Mit der Diskretion des „King of Oil“ ist es wegen des lukrativen Börsengangs von Glencore vorbei. Read the rest of this entry »


Founding father backs Glencore IPO

January 29, 2011

Marc Rich, founder of the Swiss trading house that evolved into Glencore, says the group has little choice but to become a public company, despite believing that secrecy is an advantage in the commodities market. In his first interview in at least 20 years, Mr Rich backed Glencore’s steps to become a public company this year and even said he planned to buy shares in the business that he sold in 1993. Read the rest of this entry »


Der Ölhändler von Castro und Khomeini

January 29, 2011

Dass Bücher über ökonomische Themen nicht per se trocken oder zu theoretisch sind, beweist das Buch von Daniel Ammann über Marc Rich, das sich stellenweise wie ein Thriller liest. Dass es sich trotzdem um ein seriöses Buch handelt, zeigt die Verleihung des renommierten Georg-von-Holtzbrinck-Preises für Wirtschaftspublizistik an den Autor. Ammann schreibt über den wohl mächtigsten Rohstoffhändler aller Zeiten, Marc Rich. Er stand 17 Jahre wegen Steuerbetrugs und Geschäften mit dem Iran auf der Fahndungsliste der am meisten gesuchten Männer der USA, bis ihn Präsident Bill Clinton an seinem letzten Amtstag im Januar 2001 begnadigte. Read the rest of this entry »


“Marc Rich – Der König des Öls”

October 6, 2010

Die Amerikaner schickten zwei ihrer besten Agenten auf die heikle Mission: Howard Safir, den späteren Polizeichef von New York, und Chefinspektor Don Ferrarone, eine Legende, seit er mitgeholfen hatte, den größten Drogenring der Vereinigten Staaten zu zerschlagen. Getarnt als harmlose Touristen, reisten die beiden Undercover-Polizisten im Herbst 1985 in die Schweiz ein. Ihre Mission, das wussten sie genau, würde die freundschaftlichen Beziehungen zu den Eidgenossen nachhaltig stören: Sie wollten hinter dem Rücken der Behörden einen Geschäftsmann entführen, der sich vor der amerikanischen Justiz ins schweizerische Städtchen Zug abgesetzt hatte. Read the rest of this entry »


“Man nannte ihn einen Teufel”

October 5, 2010

Marc Rich war der mächtigste Rohstoffhändler der Welt. Eine Biografie beleuchtet seinen Aufstieg und Fall. Read the rest of this entry »


The Financial Times on The King of Oil

July 11, 2010

The Financial Times just published an excellent article about Glencore, its origin and its future. The King of Oil – The Secret Lives of Marc Rich was an important source and is quoted in the article:

Amid such profound changes, Glencore started to plot a new future. Such plans will move the group further from its origins under Marc Rich, an oil trader who founded the business under the name of Marc Rich + Co in 1974, and sold to management in 1993. According to Daniel Ammann’s book, The Secret Lives of Marc Rich, the founder – who made a lot of money from deals with countries shunned by others, such as apartheid South Africa and Iran – sold the company to management for about $600m, a figure Mr Rich said was not far from reality. Read the rest of this entry »


Why Sanctions Against Iran Will (Almost Surely) Fail

June 3, 2010

Iran is coming under even greater pressure to curb its nuclear program. The U.N. Security Council is expected to vote soon on a fresh round of sanctions against the country. U.S. Defense Secretary Robert Gates said that the draft resolution is even “somewhat stronger” than he expected. According to the New York Times, even the very lucrative energy sector is mentioned in the preamble, noting the “potential connection between Iran’s revenues derived from its energy sector” and possible financing for its nuclear program. Read the rest of this entry »


“Iran Sanctions: The Sobering Lessons of Marc Rich”

March 22, 2010

Think Sanctions Will Work? Oil Trader Marc Rich Made A Fortune Off Them Before Bill Clinton Pardoned Him. Read the rest of this entry »


“Glencore is Marc Rich’s legacy”

March 2, 2010

It’s a well-known fact that oil made Marc Rich the world’s richest and most powerful commodities trader. Oil also made Rich – born Marcell David Reich – infamous around the world for his illegal deals with Iran during the hostage crisis almost 30 years ago. But what few people know is that metals – rather than oil – are responsible for kicking off and ultimately ending his career, Daniel Ammann, author of Rich biography “The King of Oil” reveals. Read the rest of this entry »


“Monsieur Ndolo”

January 9, 2010

Published in the United States last month, the biography of the legendary trader Marc Rich (Daniel Ammann, The King of Oil, published by St. Martin’s Press) could be read as a Who’s Who in African oil. Names such as Jacques Hachuel and Alexander Hackel crop up as well as that of a mysterious “Monsieur Ndolo.” This was the pseudonym of a French trader who headed the Compagnie Burundaise de Commerce (Cobuco) that was owned in equal halves by the Burundi government and Marc Rich + Co. In the 1980s, Cobuco bought Iranian crude. Officially to meet Burundi’s needs, the oil was in fact sold on to international markets. As for Marc Rich +Co, it made billions by supplying oil to South Africa during the apartheid era in defiance of sanctions. Rich also set up the trading department of Sonangol in Angola.

Copyright 2009 Indigo Publications