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Marc Rich was an international commodities trader, financier, and businessman. He founded the commodities company Glencore, and was later indicted in the United States on federal charges of tax evasion, wire fraud, racketeering, 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 President Bill Clinton, on his last day in office; Rich's ex-wife Denise had made large donations to the Democratic Party.
OJSC "Yukos Oil Company" was an oil and gas company based in Moscow, Russia. Yukos was acquired from the Russian government by Russian oligarch Mikhail Khodorkovsky's Bank Menatep during the controversial "loans for shares" auctions of the mid 1990s. Between 1996 and 2003, Yukos became one of the biggest and most successful Russian companies, producing 20% of Russia's oil output. In the 2004 Fortune 500, Yukos was ranked as the 359th largest company in the world. In October 2003, Khodorkovsky—by then the richest person in Russia and 16th richest person in the world—was arrested, and the company was forcibly broken up for alleged unpaid taxes shortly after and declared bankrupt in August 2006. Courts in several countries later ruled that the real intent was to destroy Yukos and obtain its assets for the government, and act politically against Khodorkovsky. In 2014, the largest arbitration award in history, $50 billion (€37.2 billion), was won by Yukos' former owners against Russia. This $50 billion award by the Permanent Court of Arbitration was ruled invalid by the District court in The Hague in 2016, but reinstated by the Court of Appeal of the Hague in 2020.
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Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015, it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world. As of July 2022, it is the world's largest commodity trader.
Ivan Glasenberg is a South African business executive and former chief executive officer of Glencore, one of the world's largest commodity trading and mining companies. He was the company's CEO from 2002 to 2021. Glasenberg has or had citizenship of South Africa and Australia. He became a Swiss citizen in 2011. He is also on the board of mining company Minara Resources Ltd.
Irve Lewis "Scooter" Libby is an American lawyer and former chief of staff to Vice President Dick Cheney known for his high-profile indictment and clemency.
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Vitol is a Swiss-based Dutch multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Though trading, logistics and distribution are at the core of its business, these are complemented by refining, shipping, terminals, exploration and production, power generation, and retail businesses. Vitol has 40 offices worldwide and its largest operations are in Geneva, Houston, London, and Singapore.
Denise Rich is an American-born Austrian singer-songwriter, socialite, philanthropist and political fundraiser.
Bradley Charles Birkenfeld is an American private banker, convicted felon, and whistleblower. During the mid- to late-2000s, he made a series of disclosures about UBS Group AG clients, in violation of Swiss banking secrecy laws, to the U.S. government alleging possible tax evasion. Known as the 2007 "Birkenfeld Disclosure", the U.S. Department of Justice (DOJ) announced it had reached a deferred prosecution agreement with UBS that resulted in a US$780 million fine and the release of previously privileged information on American tax evaders.
Daniel Ammann is a Swiss journalist and author. He was educated at University of Zurich, UC Berkeley and Fondation Post Universitaire Internationale in Paris. He holds an MA in political science, history and constitutional law.
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Claude Dauphin was a French billionaire businessman and executive chairman of Trafigura Beheer BV, a company specialising in commodity trading. In addition to being one of the company's founding partners, Dauphin had previously served as Trafigura's chairman and CEO. In March 2013 his net wealth was estimated at $1 billion by Forbes. Dauphin died from cancer in a hospital in Bogota at the age of 64 after a two-year struggle with lung cancer.
The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking secrecy practices.
The King of Oil: The Secret Lives of Marc Rich is a non-fiction book by Swiss investigative journalist Daniel Ammann. The book was initially released on October 13, 2009 by St. Martin's Press. It became an international bestseller and was published in nine languages.
Ludwig Jesselson was a German-born metal trader who served as president and CEO of Philipp Brothers.
References
- ↑ Reich, Walter (February 25, 2001). "Pardon Reignites Jewish Stereotypes". The Los Angeles Times .
- 1 2 3 4 5 6 7 Fortune Magazine: "The Lifestyle of Rich, the Infamous (Fortune Classics, 1986)" by Shawn Tully May 22, 2011
- 1 2 3 4 5 6 7 8 Sherman, William (March 18, 2001). "Rich Partner A Major Player in Minor Key". The New York Daily News . Archived from the original on September 5, 2017 – via Wayback Machine.
- ↑ Jewish Telegraph Agency: "At least 139 of the Forbes 400 are Jewish" By Jacob Berkman October 5, 2009
- 1 2 "Pincus Green, The 400 Richest Americans". Forbes.
- ↑ "Financier's Partner Remained Loyal Lieutenant Throughout". The New York Times. 2001-02-20. Retrieved 2010-05-22.
- ↑ Ammann, Daniel (2009). The King of Oil: The Secret Lives of Marc Rich. New York: St. Martin's Press. ISBN 978-0-312-57074-3.