Marc Rich Quotes


I basically see two reasons for a going public: Glencore gets access to more money. It is a way of funding your business and to finance growth. Plus: You have more liquid shares. It is easier to leave the company and redeem your shares. The 'going public' may also be an exit strategy for the top management.


Citations

Ammann, Daniel. "Marc Rich on the Glencore IPO, Oil and the World." HuffPost, 18 Apr. 2011.

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Marc Rich
Marc Rich
  • Born: December 18, 1934
  • Died: June 26, 2013
  • Nationality: American
  • Profession: Founder Glencore

Marc Rich was an international commodities trader, hedge fund manager, financier, businessman, and financial criminal. He founded the commodities company Glencore, and was later indicted in the United States on federal charges of tax evasion and making oil deals with Iran during the Iran hostage crisis. He fled to Switzerland at the time of the indictment and never returned to the United States. He received a widely criticized presidential pardon from U.S. President Bill Clinton on January 20, 2001, Clinton's last day in office; Rich had made large donations in his lifetime to the Democratic Party and Israeli organizations.