Glencore International
Glasenberg joined Glencore in 1984, working in the coal department in South Africa and Australia. He managed Glencore's Hong Kong and Beijing offices from 1989 to 1990, and became head of the company's coal department in 1991. He was named CEO in 2002.
In 2005, BusinessWeek referred to Glasenberg as a key figure in the secretive oil-trading inner circle of Marc Rich, a billionaire commodities trader charged with tax evasion and illegal deals with Iran and later pardoned by US President, Bill Clinton. Glencore is the corporate successor to Marc Rich & Co AG.
As of August 2011, it has been reported that, due to the economic climate, Glasenberg lost GB£788 million as his share price plummeted 13.2 per cent leaving his 15.8 per cent of the company worth GB£4.7 billion. 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. 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.
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