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{{short description|Australian Billionaire Businessman}}
{{short description|South African-Swiss billionaire businessman}}
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'''Ivan Glasenberg''' (born 7 January 1957) is a South African business executive and former chief executive officer of [[Glencore]], one of the world's largest commodity trading and mining companies.<ref name=Cobain>{{cite news|url=https://www.theguardian.com/business/2011/may/19/rise-of-glencore-commodities-company|title=The rise of Glencore, the biggest company you've never heard of|last=Cobain|first=Ian|date=19 May 2011|work=The Guardian|accessdate=19 May 2011|location=London}}</ref> In December 2020 it was announced that Glasenberg will retire as chief executive by June 2021. Glasenberg has or had [[citizenship]] of [[South Africa]] and [[Australia]].<!-- HE IS NOT ISREAELI SEE http://www.jpost.com/Business/Business-Features/The-billionaire-would-be-oleh --> He became a [[Swiss people|Swiss]] citizen in 2011.<ref name="soz">{{cite interview |subject=Glasenberg, Ivan |interviewer=Martin Spieler |url=http://info.sonntagszeitung.ch/archiv/detail/?newsid=251058 |title=Letztlich macht es keine Differenz, ob Ihr Vermögen eine Milliarde beträgt oder sechs |work=[[SonntagsZeitung]] |date=5 May 2013 |language=German |archive-url=https://archive.today/20130506205550/http://www.sonntagszeitung.ch/fokus/sonntagsgespraech/sonntagsgespraech-detailseite/?newsid=251058 |archive-date=6 May 2013 |access-date=30 September 2019 }}</ref> He is also on the board of mining company [[Minara Resources Ltd]].
'''Ivan Glasenberg''' (born 7 January 1957) is a South African business executive and former chief executive officer of [[Glencore]], one of the world's largest commodity trading and mining companies.<ref name=Cobain>{{cite news|url=https://www.theguardian.com/business/2011/may/19/rise-of-glencore-commodities-company|title=The rise of Glencore, the biggest company you've never heard of|last=Cobain|first=Ian|date=19 May 2011|work=The Guardian|accessdate=19 May 2011|location=London}}</ref> He was the company's CEO from 2002 to 2021. Glasenberg has or had [[citizenship]] of [[South Africa]] and [[Australia]].<!-- HE IS NOT ISREAELI SEE http://www.jpost.com/Business/Business-Features/The-billionaire-would-be-oleh --> He became a [[Swiss people|Swiss]] citizen in 2011.<ref name="soz">{{cite interview |subject=Glasenberg, Ivan |interviewer=Martin Spieler |url=http://info.sonntagszeitung.ch/archiv/detail/?newsid=251058 |title=Letztlich macht es keine Differenz, ob Ihr Vermögen eine Milliarde beträgt oder sechs |work=[[SonntagsZeitung]] |date=5 May 2013 |language=German |archive-url=https://archive.today/20130506205550/http://www.sonntagszeitung.ch/fokus/sonntagsgespraech/sonntagsgespraech-detailseite/?newsid=251058 |archive-date=6 May 2013 |access-date=30 September 2019 }}</ref> He is also on the board of mining company [[Minara Resources Ltd]].


==Background and early career==
==Background and early career==
Glasenberg was born 7 January 1957 in South Africa to a [[South African Jews|Jewish]] family.<ref>[http://www.jpost.com/Business/Business-Features/The-billionaire-would-be-oleh Jerusalem Post: "The billionaire would-be oleh" by NADAV SHEMER] 6 May 2011</ref> His father, Samuel Glasenberg, was "a luggage manufacturer and importer born in [[Lithuania]]", and his mother, Blanche Vilensky, was South African. The family lived in [[Illovo, Gauteng|Illovo]], a suburb of [[Johannesburg]]. Glasenberg was an athlete, and by his early 20s was national junior champion in [[race walking]].<ref name=Cobain/> Ivan married Elana Beverley Orelowitz in 1984. In his youth Glasenberg was also a friend of [[Mick Davis]], who would become the CEO of mining company [[Xstrata]].
Glasenberg was born 7 January 1957 in South Africa to a [[South African Jews|Jewish]] family.<ref>[http://www.jpost.com/Business/Business-Features/The-billionaire-would-be-oleh Jerusalem Post: "The billionaire would-be oleh" by NADAV SHEMER] 6 May 2011</ref> His father, Samuel Glasenberg, was "a luggage manufacturer and importer born in [[Lithuania]]", and his mother, Blanche Vilensky, was South African. The family lived in [[Illovo, Gauteng|Illovo]], a suburb of [[Johannesburg]]. Glasenberg was an athlete, and by his early 20s was national junior champion in [[race walking]].<ref name=Cobain/> Ivan married Elana Beverley Orelowitz in 1984. In his youth Glasenberg was also a friend of [[Mick Davis]], who would become the CEO of mining company [[Xstrata]].


Glasenberg graduated with a [[Bachelor of Commerce]] and a [[Bachelor of Accountancy]] from the [[University of the Witwatersrand]], South Africa. Glasenberg was with Nexia Levitt Kirson, a firm of [[chartered accountant]]s, for five years and is a [[Chartered Accountant#South Africa|Chartered Accountant, South Africa]] [CA (SA)].<ref name=BW01>{{cite web |url=http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=1725976&privcapId=704674&previousCapId=6229487&previousTitle=XSTRATA%20PLC |title=Executive Profile: Ivan Glasenberg B.Acc, MBA (USC), CASA |work=Bloomberg BusinessWeek |accessdate=1 March 2011 }}</ref> He received his [[MBA]] from the IBEAR program at [[USC Marshall School of Business|University of Southern California]] in 1983.<ref name=Reu01/>
Glasenberg graduated with a [[Bachelor of Commerce]] and a [[Bachelor of Accountancy]] from the [[University of the Witwatersrand]], South Africa. Glasenberg was with Nexia Levitt Kirson, a firm of [[chartered accountant]]s, for five years and is a [[Chartered Accountant#South Africa|Chartered Accountant, South Africa]] [CA (SA)].<ref name=BW01>{{cite web |url=http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=1725976&privcapId=704674&previousCapId=6229487&previousTitle=XSTRATA%20PLC |title=Executive Profile: Ivan Glasenberg B.Acc, MBA (USC), CASA |work=Bloomberg BusinessWeek |accessdate=1 March 2011 }}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}</ref> He received his [[MBA]] from the IBEAR program at [[USC Marshall School of Business|University of Southern California]] in 1983.<ref name=Reu01/>


==Business career==
==Business career==
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Glasenberg joined Glencore in 1984,<ref name=BW01/> working in the coal department in South Africa<ref name=Reu01>{{cite news |author1=Onstad, Eric |author2=MacInnis, Laura |author3=Webb, Quentin |url=https://www.reuters.com/article/us-glencore-idUSTRE71O1DC20110225?pageNumber=2 |agency=Reuters |title=Special report: The biggest company you never heard of |work=Reuters |date=25 February 2011 |accessdate=28 February 2011 }}</ref> and Australia.<ref name=BW01/> He managed Glencore's Hong Kong and Beijing offices from 1989 to 1990, and became head of the company's coal department in 1991.<ref>{{cite web |url=http://www.afdevinfo.com/htmlreports/peo/peo_25747.html |work=AfdevInfo |title=People records: Ivan Glasenberg |date=16 March 2007 |accessdate=3 June 2012 |publisher=information systems in Africa |url-status=dead|archiveurl=https://web.archive.org/web/20120526171908/http://www.afdevinfo.com/htmlreports/peo/peo_25747.html |archivedate=26 May 2012}}</ref> He was named CEO in 2002.
Glasenberg joined Glencore in 1984,<ref name=BW01/> working in the coal department in South Africa<ref name=Reu01>{{cite news |author1=Onstad, Eric |author2=MacInnis, Laura |author3=Webb, Quentin |url=https://www.reuters.com/article/us-glencore-idUSTRE71O1DC20110225?pageNumber=2 |agency=Reuters |title=Special report: The biggest company you never heard of |work=Reuters |date=25 February 2011 |accessdate=28 February 2011 }}</ref> and Australia.<ref name=BW01/> He managed Glencore's Hong Kong and Beijing offices from 1989 to 1990, and became head of the company's coal department in 1991.<ref>{{cite web |url=http://www.afdevinfo.com/htmlreports/peo/peo_25747.html |work=AfdevInfo |title=People records: Ivan Glasenberg |date=16 March 2007 |accessdate=3 June 2012 |publisher=information systems in Africa |url-status=dead|archiveurl=https://web.archive.org/web/20120526171908/http://www.afdevinfo.com/htmlreports/peo/peo_25747.html |archivedate=26 May 2012}}</ref> He was named CEO in 2002.


In 2005, ''[[BusinessWeek]]'' referred to Glasenberg as a key figure in the secretive commodities trading of [[Marc Rich]]'s company Mark Rich & Co. AG.<ref>{{cite news |url=https://www.theguardian.com/business/2011/may/19/rise-of-glencore-commodities-company |title=The rise of Glencore, the biggest company you've never heard of |work=[[The Guardian]] |location=United Kingdom |author1=Pidd, Helen (in Zurich) |author2=Glaister, Dan (in Los Angeles) |author3=Smith, David (in Johannesburg) |author4=Cobain, Ian (in London) |date=20 May 2011 |accessdate=23 June 2017 }}</ref> Rich was a billionaire commodities trader, who was charged with tax evasion and illegal deals with [[Iran]], but later [[pardon]]ed by US President [[Bill Clinton]].<ref name="Ammann, Daniel 2009">{{cite book | author=Ammann, Daniel | title=The King of Oil: The Secret Lives of Marc Rich | publisher=[[St. Martin's Press]] | location=New York | year=2009 | isbn=978-0-312-57074-3}}</ref> Glencore is the corporate successor to Marc Rich & Co AG.<ref>{{cite news |author=Vickers, Marcia|title=The Rich Boys |url=http://www.businessweek.com/magazine/content/05_29/b3943080.htm |work=BusinessWeek |date=18 July 2005 |accessdate=2 June 2012 }}</ref>
In 2005, ''[[BusinessWeek]]'' referred to Glasenberg as a key figure in the secretive commodities trading of [[Marc Rich]]'s company Mark Rich & Co. AG.<ref>{{cite news |url=https://www.theguardian.com/business/2011/may/19/rise-of-glencore-commodities-company |title=The rise of Glencore, the biggest company you've never heard of |work=[[The Guardian]] |location=United Kingdom |author1=Pidd, Helen (in Zurich) |author2=Glaister, Dan (in Los Angeles) |author3=Smith, David (in Johannesburg) |author4=Cobain, Ian (in London) |date=20 May 2011 |accessdate=23 June 2017 }}</ref> Rich was a billionaire commodities trader, who was charged with tax evasion and illegal deals with [[Iran]], but later [[pardon]]ed by US President [[Bill Clinton]].<ref name="Ammann, Daniel 2009">{{cite book | author=Ammann, Daniel | title=The King of Oil: The Secret Lives of Marc Rich | publisher=[[St. Martin's Press]] | location=New York | year=2009 | isbn=978-0-312-57074-3}}</ref> Glencore is the corporate successor to Marc Rich & Co AG.<ref>{{cite news |author=Vickers, Marcia|title=The Rich Boys |url=http://www.businessweek.com/magazine/content/05_29/b3943080.htm |archive-url=https://web.archive.org/web/20050713033118/http://www.businessweek.com/magazine/content/05_29/b3943080.htm |url-status=dead |archive-date=13 July 2005 |work=BusinessWeek |date=18 July 2005 |accessdate=2 June 2012 }}</ref>


In September 2011, using his own dividends, Glasenberg started buying a larger share of Glencore, buying up to an additional {{US$}}54&nbsp;million of Glencore stock.<ref>{{cite news |url=https://www.reuters.com/article/us-glencore-stock-idUSTRE78F4TV20110916 |title=Glencore boss Glasenberg buys shares, eyes more |work=Reuters |location=United States |date=16 September 2011 |accessdate=2 June 2012 |author=Ferreira-Marques, Clara }}</ref> In April 2012 it was reported that Glasenberg held more than 15 per cent of Glencore's stock, placing him as the 20th richest mining billionaire, with ''[[Forbes]]'' estimating his net worth at US$7.3&nbsp;billion.<ref name="mining2012">{{cite news |url=http://www.mining.com/2012/04/15/2012-mining-billionaires-20-ivan-glasenberg-21-nicky-oppenheimer-and-family-22-beny-steinmetz/ |title=2012 Mining Billionaires: #20 Ivan Glasenberg, #21 Nicky Oppenheimer and family, #22 Beny Steinmetz |author=Els, Frik |date=15 April 2012 |work=Mining.com |accessdate=3 June 2012 |publisher=InfoMine }}</ref>
In September 2011, using his own dividends, Glasenberg started buying a larger share of Glencore, buying up to an additional {{US$}}54&nbsp;million of Glencore stock.<ref>{{cite news |url=https://www.reuters.com/article/us-glencore-stock-idUSTRE78F4TV20110916 |title=Glencore boss Glasenberg buys shares, eyes more |work=Reuters |location=United States |date=16 September 2011 |accessdate=2 June 2012 |author=Ferreira-Marques, Clara }}</ref> In April 2012 it was reported that Glasenberg held more than 15 per cent of Glencore's stock, placing him as the 20th richest mining billionaire, with ''[[Forbes]]'' estimating his net worth at US$7.3&nbsp;billion.<ref name="mining2012">{{cite news |url=http://www.mining.com/2012/04/15/2012-mining-billionaires-20-ivan-glasenberg-21-nicky-oppenheimer-and-family-22-beny-steinmetz/ |title=2012 Mining Billionaires: #20 Ivan Glasenberg, #21 Nicky Oppenheimer and family, #22 Beny Steinmetz |author=Els, Frik |date=15 April 2012 |work=Mining.com |accessdate=3 June 2012 |publisher=InfoMine }}</ref>
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Glasenberg has been a champion [[Racewalking|race-walker]] for both South Africa and Israel,<ref name=Reu01/> and runs and swims daily to maintain his fitness.<ref>{{cite news |url=https://www.reuters.com/article/us-glencore-xstrata-ceos-idUSTRE8111NU20120202 |author1=Onstad, Eric |author2=Howley, Victoria |author3=Ferreira-Marques, Clara |title=Fiery CEOs may clash in Glencore-Xstrata talks |date=2 February 2012 |accessdate=3 June 2012 |work=Reuters |location=United States }}</ref> He is married with two children, and a resident of the village of [[Rüschlikon]] in Switzerland.<ref name="mining2012"/><ref name=GuardDec02>{{cite news|url=https://www.theguardian.com/business/2012/dec/02/ivan-glasenberg-neighbours-glencore-tax-windfall|author=Rupert Neate|title=Ivan Glasenberg's neighbours rest uneasily with Glencore tax windfall|newspaper=[[The Guardian]]|date=2 December 2012|location=London}}</ref> Glasenberg paid 360 million [[Swiss franc|SFr]] (£240m) in taxes to Rüschlikon following Glencore's flotation on the [[London Stock Exchange]]. The money enabled the residents to cut their taxation rate by 7%, which was approved by large majority after a public vote, and attracted criticism from some villagers about Glencore's alleged [[Glencore#Controversies|controversial business practices]].<ref name=GuardDec02/>
Glasenberg has been a champion [[Racewalking|race-walker]] for both South Africa and Israel,<ref name=Reu01/> and runs and swims daily to maintain his fitness.<ref>{{cite news |url=https://www.reuters.com/article/us-glencore-xstrata-ceos-idUSTRE8111NU20120202 |author1=Onstad, Eric |author2=Howley, Victoria |author3=Ferreira-Marques, Clara |title=Fiery CEOs may clash in Glencore-Xstrata talks |date=2 February 2012 |accessdate=3 June 2012 |work=Reuters |location=United States }}</ref> He is married with two children, and a resident of the village of [[Rüschlikon]] in Switzerland.<ref name="mining2012"/><ref name=GuardDec02>{{cite news|url=https://www.theguardian.com/business/2012/dec/02/ivan-glasenberg-neighbours-glencore-tax-windfall|author=Rupert Neate|title=Ivan Glasenberg's neighbours rest uneasily with Glencore tax windfall|newspaper=[[The Guardian]]|date=2 December 2012|location=London}}</ref> Glasenberg paid 360 million [[Swiss franc|SFr]] (£240m) in taxes to Rüschlikon following Glencore's flotation on the [[London Stock Exchange]]. The money enabled the residents to cut their taxation rate by 7%, which was approved by large majority after a public vote, and attracted criticism from some villagers about Glencore's alleged [[Glencore#Controversies|controversial business practices]].<ref name=GuardDec02/>


⚫
As of 2023, his [[net worth]] was assessed at US$8.8&nbsp;billion by ''[[Forbes (magazine)|Forbes]]'';<ref>{{Cite news |url=https://www.forbes.com/profile/ivan-glasenberg/ |title=Ivan Glasenberg |work=[[Forbes]] |access-date=August 12, 2022}}</ref> and at {{AUD}}13.6&nbsp;billion in the ''[[Australian Financial Review]]'' [[Financial Review Rich List 2023|2023 Rich List]].<ref name="afr2023">{{cite news |author1=Bailey, Michael |author2=Sprague, Julie-anne |url=https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20230523-p5dapa |title=The 200 richest people in Australia revealed |work=[[Australian Financial Review]] |date=26 May 2023 |access-date=6 June 2023}}</ref>
=== Net worth ===
When Glencore floated via an [[initial public offering]] in May 2011, it was reported that Glasenberg personally earned billions. In 2013 he replaced Mick Davis as CEO of the merged Glencore Xstrata, with a salary of an undisclosed amount.<ref name=WokerMarch2013>{{cite web|title=Conservative governments divorcing big business?|first=Daniel |last=Woker|date=8 March 2013|url=http://www.lowyinterpreter.org/post/2013/03/08/Conservative-governments-divorcing-big-business.aspx|publisher=The Interpreter: Lowy Institute for International Policy|accessdate=1 April 2013}}</ref> By 2016 according to ''[[Forbes Asia]]'', Glasenberg had failed to make the cutoff of the [[List of Australians by net worth|50 wealthiest Australians]] by [[net worth]], with a threshold of {{USD}}500&nbsp;million.<ref name="Forbes2016"/> Glassenberg's net worth was assessed at {{AUD}}7.39&nbsp;[[1,000,000,000 (number)|billion]] in the ''[[Australian Financial Review|Financial Review]]'' [[Financial Review Rich List 2021|2021 Rich List]].<ref name="afr2021"/>


== Honours ==
{{columns-start}}
* Russia
{| class="wikitable"
** [[File:Orden of Friendship.png|50px]] Recipient of the [[Order of Friendship]] (2017)<ref>{{cite news|access-date=2023-11-17|language=en|title=Putin Awards Glasenberg Order of Friendship After Rosneft Deal|url=https://www.bloomberg.com/news/articles/2017-04-10/putin-awards-glasenberg-order-of-friendship-after-rosneft-deal#xj4y7vzkg|website=Bloomberg|date=10 April 2017 }}<!-- auto-translated by Module:CS1 translator --></ref>
! rowspan=2 | Year
! colspan=2 width=40% | ''[[Australian Financial Review|Financial Review]]''<br>[[Financial Review Rich List|Rich List]]
! colspan=2 width=40% | ''[[Forbes (magazine)|Forbes]]''<br>[[List of Australians by net worth|Australia's 50 Richest]]
|-
! Rank
! [[Net worth]] ({{AUD}})
! Rank
! [[Net worth]] ({{USD}})
|-
| 2011<ref name="BRW2011">{{cite news| last=Wood|first=Lachlan |url=http://www.afr.com/p/sections/features/passport_power_p6SfUCL5Q0W3mVVANbXzAM |title=Passport Power |work=BRW Rich 200 Wealth Index |location=Australia |date=25 May 2011 |accessdate=24 November 2013 }}</ref>
| align="center" | {{nts|2}} {{profit}}
| align="right" | $8.80&nbsp;[[1,000,000,000 (number)|billion]] {{profit}}
| align="center" | ''n/a''
| align="right" | ''not listed''
|-
| 2012<ref name="Forbes2012">{{cite news |url=https://www.forbes.com/lists/2012/78/australia-billionaires-12_Ivan-Glasenberg_1362.html |title=Australia's 40 Richest: Ivan Glasenberg |work=Forbes Asia |date=1 February 2012 |accessdate=2 June 2012 }}</ref><ref name="BRW2012">{{cite news |url=http://www.brw.com.au/p/lists/rich/rich_it_tough_at_the_top_5NxGddTdCxahzaIWfxAkqJ |title=Rich 200: It's tough at the top |work=BRW |date=24 May 2012 |accessdate=2 June 2012 |location=Sydney |archive-url=https://web.archive.org/web/20121004163246/http://brw.com.au/p/lists/rich/rich_it_tough_at_the_top_5NxGddTdCxahzaIWfxAkqJ |archive-date=4 October 2012 |url-status=dead }}</ref>
| align="center" | {{nts|2}} {{steady}}
| align="right" | $7.40&nbsp;billion {{loss}}
| align="center" | {{nts|2}} {{profit}}
| align="right" | $7.20&nbsp;billion {{profit}}
|-
| 2013<ref name="BRW-2013">{{Cite journal|title=BRW Rich 200 2013 Wealth Index|journal=BRW|url=http://www.brw.com.au/p/lists/rich-200/2013/brw_rich_miners_feel_the_squeeze_RHHSpimYD3Z9Y3l51hpU9H|location=Sydney|date=23 May 2013|accessdate=23 May 2013|archive-url=https://web.archive.org/web/20130608093827/http://www.brw.com.au/p/lists/rich-200/2013/brw_rich_miners_feel_the_squeeze_RHHSpimYD3Z9Y3l51hpU9H|archive-date=8 June 2013|url-status=dead}}</ref>
| align="center" | {{nts|5}} {{decrease}}
| align="right" | $5.61&nbsp;billion {{decrease}}
| align="center" |
| align="right" |
|-
| 2014<ref name="brw2014">{{cite journal|url=http://www.brw.com.au/lists/rich-200/2014/|title=2014 BRW Rich 200|journal=BRW|location=Sydney|date=26 June 2014|accessdate=28 June 2014}}</ref><ref name="forbes2014">{{cite news|author=Rollason, Adam|url=http://www.afr.com/news/rinehart-on-top-palmer-down-on-forbes-rich-list-20140130-iy5uy|title=Rinehart on top, Palmer down on Forbes rich list|archive-url=https://web.archive.org/web/20150615220905/https://www.afr.com/news/rinehart-on-top-palmer-down-on-forbes-rich-list-20140130-iy5uy|archive-date=2015-06-15|newspaper=AFR Weekend|location=Australia|date=30 January 2014|accessdate=12 June 2015}}</ref>
| align="center" | {{nts|5}} {{steady}}
| align="right" | $6.63&nbsp;billion {{increase}}
| align="center" | {{nts|4}} {{increase}}
| align="right" | $6.30&nbsp;billion {{increase}}
|-
| 2015<ref name="brw2015">{{cite journal|url=http://www.brw.com.au/lists/interactives/entity.html?entity=ivan-glasenberg&edition=32&questions=819,820&sort=1,asc&page=0|title=2015 BRW Rich 200: Ivan Glasenberg|journal=BRW|location=Sydney|date=May 2015|accessdate=12 June 2015}}</ref><ref name="forbes2015">{{cite journal|url=https://www.forbes.com/sites/forbespr/2015/02/03/gina-rinehart-retains-top-spot-on-forbes-australia-rich-list/3/|title=Gina Rinehart Retains Top Spot on Forbes Australia Rich List|journal=Forbes Asia|location=Singapore|date=29 January 2015|accessdate=12 June 2015}}</ref>
| align="center" | {{nts|6}} {{decrease}}
| align="right" | $6.08&nbsp;billion {{decrease}}
| align="center" | {{nts|5}} {{decrease}}
| align="right" | $2.30&nbsp;billion {{decrease}}
|-
| 2016<ref name="Forbes2016">{{cite news|url=https://www.forbes.com/australia-billionaires/list/#tab:overall|title=2016 Australia's 50 Richest|accessdate=9 June 2016|work=Forbes Asia|date=January 2016 }}</ref><ref name="brw2016">{{cite news |url=http://www.afr.com/leadership/brw-lists/brw-rich-200-list-2016-20160526-gp4ejn |title=BRW Rich 200 List 2016 |editor=Stensholt, John |work=Financial Review |location=Australia |date=27 May 2016 |accessdate=7 June 2016 }}</ref>
| align="center" | {{nts|9}} {{decrease}}
| align="right" | $3.33&nbsp;billion {{decrease}}
| align="center" | {{nowrap|''n/a'' {{decrease}}}}
| align="right" | ''not listed''
|-
| 2017<ref name="afr2017">{{cite news |url=http://www.afr.com/leadership/afr-lists/rich-list/financial-review-rich-list-2017-20170525-gwcvr6 |editor=Stensholt, John |title=Financial Review Rich List 2017 |work=[[The Australian Financial Review]] |date=25 May 2017 |access-date=8 June 2017 }}</ref><ref name="crikey2017">{{cite news |url=https://www.crikey.com.au/2017/05/26/tmaynes-take-the-top-25-australian-billionaires-as-claimed-by-fairfax-media/ |author=Mayne, Stephen |author-link=Stephen Mayne |title=Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax |work=[[Crikey]] |publisher=Private Media |date=26 May 2017 |access-date=10 October 2019 }}</ref><ref name="Forbes2017">{{cite news|url=https://www.forbes.com/sites/forbesasia/2017/11/01/australias-richest-2017-mining-for-dollars/#4d3806661d24|title=Australia's Richest 2017: Country's Wealthiest Continue Mining For Dollars |accessdate=28 September 2019 |work=Forbes Asia|date=1 November 2017 }}</ref>
| align="center" | {{nts|5}} {{increase}}
| align="right" | $6.85&nbsp;billion {{increase}}
| align="center" |{{nowrap|''n/a'' {{steady}}}}
| align="right" | ''not listed''
|-
| 2018<ref name="afr2018">{{cite web|url=http://www.afr.com/brand/afr-magazine/rich-list-overview-20180413-h0yqo5|title=2018 AFR Rich List: Who are Australia's richest people?|work=[[The Australian Financial Review]]|date=25 May 2018|editor=Stensholt, John|access-date=26 May 2018}}</ref>
| align="center" | {{nowrap|{{nts|6}} {{decrease}}}}
| align="right" | $8.32&nbsp;billion {{gain}}
| align="center" |{{nowrap|''n/a'' {{steady}}}}
| align="right" | ''not listed''
|-
| 2019<ref name="afr2019">{{cite web|url=https://www.afr.com/rich-list/australia-s-10-wealthiest-people-revealed-20190529-p51sj0|title=Australia's 200 richest people revealed|work=[[The Australian Financial Review]] |publisher=Nine Publishing|date=30 May 2019|last=Bailey|first=Michael|access-date=31 May 2019}}</ref><ref name="Forbes2019">{{cite news|url=https://www.forbes.com/australia-billionaires/list/#tab:overall|title=2019 Australia's 50 Richest|accessdate=28 September 2019|work=Forbes Asia|date=January 2019 }}</ref>
| align="center" | {{nowrap|{{nts|9}} {{decrease}}}}
| align="right" | $7.17&nbsp;billion {{decrease}}
| align="center" |{{nowrap|''n/a'' {{steady}}}}
| align="right" | ''not listed''
|-
| 2020<ref name="afr2020">{{cite web|url=https://www.afr.com/rich-list/the-10-richest-australians-revealed-20201028-p569c7|url-access=subscription|title=The full list: Australia's wealthiest 200 revealed|work=[[The Australian Financial Review]]|publisher=Nine Publishing|date=30 October 2020|author1=Bailey, Michael|author2=Sprague, Julie-anne|access-date=31 October 2020}}</ref>
| align="center" | {{nowrap|{{nts|16}} {{decrease}}}}
| align="right" | $4.54&nbsp;billion {{decrease}}
| align="center" |
| align="right" |
|-
⚫
| 2021<ref name="afr2021">{{cite news |author1=Bailey, Michael |author2=Sprague, Julie-anne |url=https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20210526-p57vfr |title=The 200 richest people in Australia revealed |work=[[Australian Financial Review]] |date=27 May 2021 |access-date=28 May 2021}}</ref>
| align="center" | {{nowrap|{{nts|12}} {{up}}}}
| align="right" | $7.39&nbsp;billion {{up}}
| align="center" |
| align="right" |
|}
{{column}}
{| class="wikitable"
!colspan="2"|<small>Legend</small>
|-
!<small> Icon</small>
!<small> Description</small>
|-
|{{steady}}
|<small>Has not changed from the previous year</small>
|-
|{{profit}}
|<small>Has increased from the previous year</small>
|-
|{{loss}}
|<small>Has decreased from the previous year</small>
|}
{{columns-end}}


== References ==
== References ==
Line 149: Line 57:
==Further reading==
==Further reading==
*{{cite book | author=Ammann, Daniel | author-link=Daniel Ammann | title=The King of Oil: The Secret Lives of Marc Rich | publisher=[[St. Martin's Press]] | location=New York | year=2009 | isbn=978-0-312-57074-3}}
*{{cite book | author=Ammann, Daniel | author-link=Daniel Ammann | title=The King of Oil: The Secret Lives of Marc Rich | publisher=[[St. Martin's Press]] | location=New York | year=2009 | isbn=978-0-312-57074-3}}
*{{cite book | authors=Blas, Javier and Farchy, Jack | title=The World for Sale: Money, Power and the Traders Who Barter the Earth's Resources | publisher=[[Penguin Random House]] | location=New York | year=2021 | isbn=978-1-847-94265-4}}
*{{cite book |author1=Blas, Javier |author2=Farchy, Jack | title=The World for Sale: Money, Power and the Traders Who Barter the Earth's Resources | publisher=[[Penguin Random House]] | location=New York | year=2021 | isbn=978-1-847-94265-4}}


{{Authority control}}
{{Authority control}}
Line 168: Line 76:
[[Category:South African emigrants to Australia]]
[[Category:South African emigrants to Australia]]
[[Category:Swiss financiers]]
[[Category:Swiss financiers]]
[[Category:Swiss Jews]]
[[Category:21st-century Swiss Jews]]
[[Category:Swiss investors]]
[[Category:Swiss investors]]
[[Category:Swiss stock traders]]
[[Category:Swiss stock traders]]

Latest revision as of 02:42, 24 September 2024

Ivan Glasenberg
Glasenberg in 2013
Born (1957-01-07) 7 January 1957 (age 67)
Johannesburg, South Africa
Nationality
Alma mater
OccupationCommodities
Known forFormer CEO of Glencore
Children2

Ivan Glasenberg (born 7 January 1957) is a South African business executive and former chief executive officer of Glencore, one of the world's largest commodity trading and mining companies.[1] He was the company's CEO from 2002 to 2021. Glasenberg has or had citizenship of South Africa and Australia. He became a Swiss citizen in 2011.[2] He is also on the board of mining company Minara Resources Ltd.

Background and early career

[edit]

Glasenberg was born 7 January 1957 in South Africa to a Jewish family.[3] His father, Samuel Glasenberg, was "a luggage manufacturer and importer born in Lithuania", and his mother, Blanche Vilensky, was South African. The family lived in Illovo, a suburb of Johannesburg. Glasenberg was an athlete, and by his early 20s was national junior champion in race walking.[1] Ivan married Elana Beverley Orelowitz in 1984. In his youth Glasenberg was also a friend of Mick Davis, who would become the CEO of mining company Xstrata.

Glasenberg graduated with a Bachelor of Commerce and a Bachelor of Accountancy from the University of the Witwatersrand, South Africa. Glasenberg was with Nexia Levitt Kirson, a firm of chartered accountants, for five years and is a Chartered Accountant, South Africa [CA (SA)].[4] He received his MBA from the IBEAR program at University of Southern California in 1983.[5]

Business career

[edit]
Glasenberg

Glencore International

[edit]

Glasenberg joined Glencore in 1984,[4] working in the coal department in South Africa[5] and Australia.[4] He managed Glencore's Hong Kong and Beijing offices from 1989 to 1990, and became head of the company's coal department in 1991.[6] He was named CEO in 2002.

In 2005, BusinessWeek referred to Glasenberg as a key figure in the secretive commodities trading of Marc Rich's company Mark Rich & Co. AG.[7] 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.[8] Glencore is the corporate successor to Marc Rich & Co AG.[9]

In September 2011, using his own dividends, Glasenberg started buying a larger share of Glencore, buying up to an additional US$54 million of Glencore stock.[10] In April 2012 it was reported that Glasenberg held more than 15 per cent of Glencore's stock, placing him as the 20th richest mining billionaire, with Forbes estimating his net worth at US$7.3 billion.[11]

In December 2020, Glasenberg announced that he will be retiring in 2021 thus stepping out of the CEO position after nearly 20 years. He was succeeded by fellow South African Gary Nagle, who was running the firm's coal business.[12][13][14]

Glencore Xstrata

[edit]

Glasenberg became CEO of the merged entity created when Glencore and Xstrata finalised one of the largest mining company mergers in history creating an US$88 billion company.[15] 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,[16] with a 3.05 Glencore to 1 Xstrata Share exchange to create the new entity Glencore Xstrata with Glasenberg becoming CEO. Davis left the company in July 2013.[17]

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).[4]

Personal life

[edit]

Glasenberg has been a champion race-walker for both South Africa and Israel,[5] and runs and swims daily to maintain his fitness.[18] He is married with two children, and a resident of the village of Rüschlikon in Switzerland.[11][19] Glasenberg paid 360 million SFr (£240m) in taxes to Rüschlikon following Glencore's flotation on the London Stock Exchange. The money enabled the residents to cut their taxation rate by 7%, which was approved by large majority after a public vote, and attracted criticism from some villagers about Glencore's alleged controversial business practices.[19]

As of 2023, his net worth was assessed at US$8.8 billion by Forbes;[20] and at A$13.6 billion in the Australian Financial Review 2023 Rich List.[21]

Honours

[edit]

References

[edit]
  1. ^ a b Cobain, Ian (19 May 2011). "The rise of Glencore, the biggest company you've never heard of". The Guardian. London. Retrieved 19 May 2011.
  2. ^ Glasenberg, Ivan (5 May 2013). "Letztlich macht es keine Differenz, ob Ihr Vermögen eine Milliarde beträgt oder sechs". SonntagsZeitung (Interview) (in German). Interviewed by Martin Spieler. Archived from the original on 6 May 2013. Retrieved 30 September 2019.
  3. ^ Jerusalem Post: "The billionaire would-be oleh" by NADAV SHEMER 6 May 2011
  4. ^ a b c d "Executive Profile: Ivan Glasenberg B.Acc, MBA (USC), CASA". Bloomberg BusinessWeek. Retrieved 1 March 2011.[dead link‍]
  5. ^ a b c Onstad, Eric; MacInnis, Laura; Webb, Quentin (25 February 2011). "Special report: The biggest company you never heard of". Reuters. Reuters. Retrieved 28 February 2011.
  6. ^ "People records: Ivan Glasenberg". AfdevInfo. information systems in Africa. 16 March 2007. Archived from the original on 26 May 2012. Retrieved 3 June 2012.
  7. ^ Pidd, Helen (in Zurich); Glaister, Dan (in Los Angeles); Smith, David (in Johannesburg); Cobain, Ian (in London) (20 May 2011). "The rise of Glencore, the biggest company you've never heard of". The Guardian. United Kingdom. Retrieved 23 June 2017.
  8. ^ Ammann, Daniel (2009). The King of Oil: The Secret Lives of Marc Rich. New York: St. Martin's Press. ISBN 978-0-312-57074-3.
  9. ^ Vickers, Marcia (18 July 2005). "The Rich Boys". BusinessWeek. Archived from the original on 13 July 2005. Retrieved 2 June 2012.
  10. ^ Ferreira-Marques, Clara (16 September 2011). "Glencore boss Glasenberg buys shares, eyes more". Reuters. United States. Retrieved 2 June 2012.
  11. ^ a b Els, Frik (15 April 2012). "2012 Mining Billionaires: #20 Ivan Glasenberg, #21 Nicky Oppenheimer and family, #22 Beny Steinmetz". Mining.com. InfoMine. Retrieved 3 June 2012.
  12. ^ Neil Hume; David Sheppard (4 December 2020). "Ivan Glasenberg to step down as Glencore chief". Financial Times. Retrieved 6 December 2020.
  13. ^ Wallace, Joe; Patterson, Scott (4 December 2020). "Glencore CEO Ivan Glasenberg to Retire After 18 Years at the Helm". The Wall Street Journal. Retrieved 20 December 2020.
  14. ^ Biesheuvel, Thomas (5 December 2020). "Billionaire Glasenberg's Reign Spanned IPO Glory to Graft Probes". Bloomberg. Retrieved 20 December 2020.
  15. ^ Wall Street Journal: Glencore-Xstrata Merger Complete. 2 May 2013.
  16. ^ "Qatar backing puts Glencore's Xstrata deal on track". Reuters. 15 November 2012.
  17. ^ Seccombe, Allan (17 April 2013). "Davis to get 4.6m payout as-Xstrata deal is approved". Business Day. Press Reader. Retrieved 23 June 2017.
  18. ^ Onstad, Eric; Howley, Victoria; Ferreira-Marques, Clara (2 February 2012). "Fiery CEOs may clash in Glencore-Xstrata talks". Reuters. United States. Retrieved 3 June 2012.
  19. ^ a b Rupert Neate (2 December 2012). "Ivan Glasenberg's neighbours rest uneasily with Glencore tax windfall". The Guardian. London.
  20. ^ "Ivan Glasenberg". Forbes. Retrieved 12 August 2022.
  21. ^ Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.
  22. ^ "Putin Awards Glasenberg Order of Friendship After Rosneft Deal". Bloomberg. 10 April 2017. Retrieved 17 November 2023.

Further reading

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