Ivan Glasenberg

Ivan Glasenberg – Photo: Daily Maverick

CEO Ivan Glasenberg, a superstar trader in the commodities industry, is being catapulted into the media spotlight after his company, Glencore, is to merge with Xstrata. Though the merger stands to make this billionaire an even wealthier one, it may come at a price not measured in dollars.

Having made past deals with Apartheid South Africa, Ayatollah Khomeini, and being suspected of tax evasion in destitute regions of Zambia, Glencore is a company with a mixed reputation. This sentiment is felt strongly by Glencore’s hometown of Rüschlikon, which is having second thoughts about using the enormous tax windfall Glencore has afforded them, as they feel the money is “tainted”.

In light of the attention the merger will bring, Glasenberg has retained UK law firm Shillings, notorious for issuing far reaching gag orders on media, though such a move may only further entice curious reporters, and media people alike.

Read Full Daily Maverick Article Here

Read Full Financial Times Article Here