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 »
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 »
Willy Strothotte ist heute in der Schweiz weitgehend unbekannt. Das ist kein Zufall. Wer aber ist der Nachfolger des legendären Rohstoffhändlers Marc Rich, dessen Konzern Glencore mit der gewollten Intransparenz allmählich ein Problem bekommt?
Digging deep into the world of commodities trading was no easy task for Swiss-based author Daniel Ammann and his latest biography. “The King of Oil” is an exclusive, no-holds barred biography of billionaire commodities trader, former fugitive and founder of the trading giant that became Glencore, Marc Rich. Read the rest of this entry »
To deprive Iran of gasoline and force the country to come to the negotiating table regarding its nuclear program, Western nations are turning up the heat on traders who supply Tehran with oil products. While the United States is threatening to adopt a new sanctions bill, Israel is clearly preferring to use its special relations with the world’s leading trading concern, Switzerland’s Glencore, which had annual sales of SFR 165 billion in 2008, to pressure the Iranians. The group, which was long named Marc Rich + Co, has enjoyed excellent relations with Tel Aviv for nearly 40 years. Read the rest of this entry »
Marc Rich, the world’s most powerful oil trader who had systematically avoided reporters and had given his last interview over twenty years ago, finally opened up about his businesses and his private life. Read the rest of this entry »
More than 25 years since his flight from US prosecution, Marc Rich has chosen to finally tell all in this extraordinary book by Swiss journalist Daniel Ammann. Through interviews with Rich himself and many that knew or worked with him during his career, Ammann presents a warts-and-all story of the life of Rich. Read the rest of this entry »