Published On: Wed, Sep 9th, 2015

Billionaire Chief Ivan Glasenberg Faces $210 Million Bill as Glencore Seeks Cash

Ivan Glasenberg  bloomberg getty

  • Bill for executives’ purchase of shares may total $514 million
  • On flipside, officials have reaped $1.8 billion in dividends

Glencore Plc’s billionaire CEO Ivan Glasenberg is on the hook for as much as $210 million of the Swiss commodity trader’s looming $2.5 billion sale of new shares aimed at staving off a potentially disastrous credit rating cut.

The 58-year-old accountant turned coal trader, who has worked for the company for more than 30 years and is its second-largest shareholder with 8.4 percent,

Read the full story at Bloomberg by Jesse Riseborough

 

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