All Rights Reserved. The day in question was this past Friday, when Glencore's shares took a massive 29.42% hit in value. [16], Glasenberg has served an executive director of Xstrata Plc (since 2002); and as a non-executive director of Minara Resources Ltd (since 2000); of Rusal Plc (since 2007); and Century Aluminum Co. (between 2010–2011). Related by Industry: Construction, Oil & Gas Operations, Mining and Chemicals. The firm serves the automotive, steel, power generation, battery manufacturing, and oil sectors. Glasenberg was with Nexia Levitt Kirson, a firm of chartered accountants, for five years and is a Chartered Accountant, South Africa [CA (SA)]. Ivan Glasenberg (born 7 January 1957) is the chief executive officer of Glencore, one of the world's largest commodity trading and mining companies. empire than talking about it. Australia's second richest: Glencore CEO Ivan Glasenberg Commodities trader Glencore and mining outfit Xstrata are engaged in merger talks, with a formal deal expected to be hammered out as early as next week. [6] He received his MBA from the IBEAR program at University of Southern California in 1983.[7]. [19] By 2016 according to Forbes Asia, Glasenberg had failed to make the cutoff of the 50 wealthiest Australians by net worth, with a threshold of US$500 million. [13][18] Glasenberg paid 360 million SFr (£240m) in taxes to Rüschlikon following Glencore's flotation on the London Stock Exchange. Stalking prey is best done quietly which is what Ivan Glasenberg appears to be trying to do as he starts the long process of snaring a prize he has coveted for decades, the once great South African mining house, Anglo American. [6] He managed Glencore's Hong Kong and Beijing offices from 1989 to 1990, and became head of the company's coal department in 1991. 'Why Is Your Trade Association Fighting Moves To Tackle Climate Change?' [9] Rich was a billionaire commodities trader, who was charged with tax evasion and illegal deals with Iran, but later pardoned by US President Bill Clinton. Our data indicates that Glencore plc is worth UK£30b, and total annual CEO compensation was reported as US$1.5m for the year to December 2018. Glasenberg is a former South African race-walking champion. We use an equal weighting of each metric to rank companies according to size. He became a Swiss citizen in 2011. [14] Originally Xstrata CEO Mick Davis was to be CEO while Glasenberg would be President in a merger-of-equals transaction, however due to holding out of major Xstrata shareholder Qatar, it became a takeover target,[15] with a 3.05 Glencore to 1 Xstrata Share exchange to create the new entity Glencore Xstrata with Glasenberg becoming CEO. After earning his MBA from the USC, Glasenberg started working as a marketer in the coal department of Marc Rich & Co. in his native South Africa. Ivan Glasenberg, CEO of commodities trading giant Glencore International, not only joins our list for the first time but does so in style, landing the No. [1], "The rise of Glencore, the biggest company you've never heard of", "Letztlich macht es keine Differenz, ob Ihr Vermögen eine Milliarde beträgt oder sechs", Jerusalem Post: "The billionaire would-be oleh" by NADAV SHEMER, "Executive Profile: Ivan Glasenberg B.Acc, MBA (USC), CASA", "Special report: The biggest company you never heard of", "Glencore boss Glasenberg buys shares, eyes more", "2012 Mining Billionaires: #20 Ivan Glasenberg, #21 Nicky Oppenheimer and family, #22 Beny Steinmetz", "Qatar backing puts Glencore's Xstrata deal on track", "Davis to get 4.6m payout as-Xstrata deal is approved", "Fiery CEOs may clash in Glencore-Xstrata talks", "Ivan Glasenberg's neighbours rest uneasily with Glencore tax windfall", "Conservative governments divorcing big business? EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Shrinking Stockpiles Put Copper On Track For A Price Rise Despite Trade War Uncertainty, For Some Mining Companies -- The Trade War Is Looking Like a Phony War, Glencore Emerging A Big Winner From Coal Consolidation, Cobalt: The Achilles Heel for Electric Car Makers, Miners Restored A Few Of Aussie's Richest In 2016, Glencore's Crashing Stock Sends CEO Glasenberg Tumbling Down Billionaire Ranks, Glencore Xstrata Plays The Africa Card As It Size Up Anglo American, Ivan Glasenberg's Play For Xstrata Forces Him From His Cone of Secrecy, South African Billionaire Glasenberg Fights Qatar Over Xstrata Deal, Glencore's Glasenberg In Talks To Finally Net Xstrata, An IPO Vaults Ivan Glasenberg to No. In 2005, BusinessWeek referred to Glasenberg as a key figure in the secretive commodities trading of Marc Rich's company Mark Rich & Co. Billion-dollar offerings had a decidedly foreign flavor in 2011. Sources: Factset, Bloomberg, S&P Cap IQ; Forbes. The company became Glencore in 1994 and went public in 2011. 2 On Australia's 40 Richest, Glencore's $10B Listing Headlines Year's Biggest IPOs, Bartoszek Back In The Lineup As Possible Mets Investor. Ivan Glasenberg, CEO of commodities trading giant Glencore International, not only joins our list for the first time but does so in style, landing the No. ", "Australia's 40 Richest: Ivan Glasenberg", "Rinehart on top, Palmer down on Forbes rich list", "Gina Rinehart Retains Top Spot on Forbes Australia Rich List", https://en.wikipedia.org/w/index.php?title=Ivan_Glasenberg&oldid=986007696, Australian people of Lithuanian-Jewish descent, South African people of Lithuanian-Jewish descent, Creative Commons Attribution-ShareAlike License, This page was last edited on 29 October 2020, at 07:43. , and Corporate and Other segment represents Group related income and expenses [ 17 He., Names You Need to Know: Ivan Glasenberg still has that status at the company was in. Married with two children, and Corporate and Other segment represents Group income. According to size Orelowitz in 1984 electric-car boom has excited Australia ’ s lithium miners, but what if ’! 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