Wednesday, May 4, 2011

Accounting Grad Now Worth $9.6 Billion

The multi-billion dollar commodities trading firm founded by Marc Rich, Glencore, is about to go public. The current CEO is Ivan Glasenberg.

According to BW, Glasenberg, now 54, was once a competitive walker and completed two Swiss triathlons at the age of 43. He graduated in 1981 from the University of the Witwatersrand in South Africa. He earned his accounting certification at Levitt Kirson, a firm in the South African capital. He earned a master of business administration degree from the University of Southern California in 1983 before joining Glencore a year later.

Based on the prospectus that has been created in conjunction with the Glencore IPO, Glasenberg will own 15.8 percent of Glencore after the public offering. The initial public value for that stake will be in the ballpark of $9.6 billion.

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