Bribery Scandal To Cost Glencore $1.1 Billion, While Billionaire Execs Avoid Blame — For NowMarc Rich, the legendary commodities trader, fled the United States for Europe in 1983. Including Rich the company has birthed at least
nine billion-dollar fortunes. The richest of the Glencore gang is former CEO Ivan Glasenberg, at
$8.9 billion. Others include Daniel Maté, —
$3.6 billion, and Tor Peterson —
$2.7 billion.
All three
left the company in the past two years, but neither they nor other billionaire executives have yet been fingered in the Department of Justice investigation into Glencore’s misdeeds, resolved this week with the
company’s admissions of guilt and $1.1 billion in fines.According to a statement from U.S. Attorney Damian Williams, the execs likely knew something:
“With approval and knowledge of top executives,” Glencore traders for more than a decade until 2018 made
illicit payments seem customary.
