Ivan Glasenberg is a self-made billionaire and entrepreneur with interests in mining and commodity trading. In its 2013 list of World Billionaires, Forbes ranked Glasenberg as the 2nd richest person in Australia and the 175th richest person in the world with an estimated net worth of $6.7 billion.
Net Worth: $6.7 Billion (As of March 2013)
Source: Commodity Trading, Mining, Self-Made
Born: January 8, 1957
Nationality: Australian, South African, Swiss, Israelite
Marital Status: Married
Glasenberg is one of the few people in the world who are lucky to have quadruple citizenships. He is a South African-Australian-Israel-Swiss citizen, and a very rich one for that matter. He was born in January 8, 1957 in Johannesburg, South Africa and acquired the other three citizenships much later. He is known for being the CEO of Glencore International, a position he was appointed to in 2002.
He acts as the CEO of Glencore Xstrata, a merged entity that was created when Glencore and Xstrata finalized what is termed as the largest mining company merger in history. Glasenberg is now one of the richest people in the world, ranked 2nd in Australia after Gina Rinehart, and the 175th richest person in the world. Forbes estimates his wealth to be $6.7 billion in 2013, which is a few hundred millions drop from his 2012’s net worth of $7.2 billion.
Glasenberg started out his career at a firm of chartered accountants known as Nexia Levitt Kirson and worked there for five years. He obtained his MBA from the University of Southern California, after which he joined the commodity trader, Marc Rich & Co., ultimately rising to the executive level. In 1984, he joined Glencore, where he worked in the coal department in SA and Australia. From 1989-1990, he managed Glencore’s Beijing and Hong Kong Offices. In 1991, he became the head of the coal department.
In 2011, Glasenberg started purchasing a larger share of Glencore using his own dividends. He bought up to $54 million of Glencore stock, and in April 2012 there were reports indicating that Glasenberg owned more than 15% of this company’s stock.
This placed him as the 20th richest mining mogul with his then net worth of $7.3 billion. After Glencore and Xstrata merged to create an $88 billion company, Glasenberg was named CEO. Initially, the CEO position was scheduled to be filled by Mick Davis, while Glasenberg was scheduled to be the Chairman. However, Glasenberg become CEO instead in 2012.
Glasenberg is married with two children. He resides in the village of Ruschlikon in Switzerland.
Interesting Facts about Ivan Glasenberg