Marc Rich, the colourful and controversial commodities trader and founder of Glencore who fled the US to avoid federal indictments, has died in Switzerland aged 78.
“Marc Rich died in Lucerne in a hospital as a result of a brain stroke,” said Christian König of the Marc Rich Group in a statement. He is expected to be buried in Tel Aviv on Thursday.
Ivan Glasenberg, the chief executive of Glencore Xstrata, said: “We are saddened to hear of the death of Marc. He was a friend and one of the great pioneers of the commodities trading industry, founding the company that became Glencore. Our deepest sympathies and condolences are with his family at this time.”
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