Is Commodities Giant Glencore™ About To Create The World’s Six Newest Billionaires?

by • May 4, 2011 • BusinessComments (0)5388

Forbes is reporting today that Glencore (the ginormongous Swiss company that ranks as one of the world’s largest suppliers of commodities and raw materials) is about to go public.  Their reporters are coming through the 1,600-page prospectus at this very second and will report on any other juicy tidbits they uncover, but here’s what they know so far:

1. After its Initial Public Offering (no announcement of a date yet) the company will be valued at $60 billion. At the moment it is one of the largest private companies in the world.
2. CEO Ivan Glasenberg (Chief Executive Officer, 54-years-old) will have 1.09 billion shares, or 15.8% of the company, for a net worth of $9.5 billion. Glasenberg’s salary this year is 925,000 pounds sterling ($1.53 million).
3. Daniel Francisco Mate Badenes (Co-Director of zinc/copper/lead Commodity Department, 47-years-old) will be worth $3.6 billion (416.4 million shares, or 6%).
4. Aristotelis Mistakidis (Co-Director of zinc/copper/lead Commodity Department, 49-years-old) will be worth $3.6 billion (411.8 million shares, or 6%).
5. Tor Peterson (Director of coal/coke Commodity Department, 46-years-old) will be worth $3.2 billion (366.3 million shares, or 5.3%).
6. Alex Beard (Director of oil Commodity Department, 43-years-old) will be worth $2.76 billion (320.5 million shares, or 4.6%).
7. Steven Kalmin (Chief Financial Officer, 40-years-old) will be worth $600 million (70.7 million shares, or 1%).
8. And then there’s the mysterious “selling shareholder” who is parting with 238.8 million shares in the IPO (or 4%), worth $2.4 billion.  Forbes’ suspicion is that this is former CEO and departing Chairman Willy Strotthote.

Glencore was founded in 1974 and is headquartered in Baar, Switzerland.  In 2010 its annual revenue was $144.9 billion, and its overall assets were pegged at $79.8 billion.  To read the more detailed profiles of each of these men you can get the full story at Forbes. To learn more about Glencore you can visit Glencore.com. If you would like to help FEELguide reach an annual revenue of $144.9 billion feel free to donate your millions to this address: feelguide@gmail.com.

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