Ivan Glasenberg Biography
Glasenberg was born to a Jewish family in South Africa on January 7, 1957. His father, Samuel Glasenberg, was a “Lithuanian luggage manufacturer and importer,” and his mother, Blanche Vilensky, was South African. The family lived in Illovo, a Johannesburg suburb. Glasenberg was an athlete who, by his early twenties, had won the national junior championship in race walking. In 1984, Ivan married Elana Beverley Orelowitz. Glasenberg was also a childhood friend of Mick Davis, the CEO of mining company Xstrata. Glasenberg earned a Bachelor of Commerce and a Bachelor of Accountancy from South Africa’s University of the Witwatersrand. Glasenberg worked for chartered accountants Nexia Levitt Kirson for five years and is a Chartered Accountant, South Africa [CA (SA)]. In 1983, he received his MBA from the University of Southern California’s IBEAR program.
Ivan Glasenberg Career
Ivan Glasenberg is a South African businessman and the former CEO of Glencore, one of the world’s largest commodity trading and mining firms. Glasenberg announced in December 2020 that he will step down as CEO in June 2021.
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Glasenberg has or has had South African and Australian citizenship. In 2011, he became a Swiss citizen. He also serves on the board of Minara Resources Ltd, a mining company. Glasenberg joined Glencore in 1984 and has worked in the coal divisions of South Africa and Australia. From 1989 to 1990, he managed Glencore’s Hong Kong and Beijing offices before taking over as head of the company’s coal department in 1991. In 2002, he was appointed CEO. Glasenberg was named CEO of the merged entity formed when Glencore and Xstrata completed one of the world’s largest mining company mergers, creating a $88 billion company. Glasenberg has been an executive director of Xstrata Plc since 2002, as well as a non-executive director of Minara Resources Ltd since 2000, Rusal Plc since 2007, and Century Aluminum Co. (2010-2011).
Ivan Glasenberg Personal Life and Net Worth
Glasenberg is a champion race walker for both South Africa and Israel, and he runs and swims every day to stay in shape. He is married with two children and lives in the Swiss village of Rüschlikon.
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Following Glencore’s IPO on the London Stock Exchange, Glasenberg paid 360 million SFr (£240 million) in taxes to Rüschlikon. The funds allowed residents to reduce their taxation rate by 7%, which was approved by a large majority following a public vote, but drew criticism from some villagers regarding Glencore’s alleged controversial business practices. His net worth was $9.1 billion in 2022.