5 facts about SA billionaire and Ramaphosa's ally, Ivan Glasenberg

5 facts about SA billionaire and Ramaphosa's ally, Ivan Glasenberg

Glencore International CEO Ivan Glasenberg is set to retire within three to five years, according to a Bloomberg report.

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The South African billionaire is reportedly a top ally of President Cyril Ramaphosa in the business world.

Glsenberg, 61, has established a reputation as a workaholic. Briefly.co.za compiles five interesting facts about him.

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1. Glasenberg's dad was Lithuanian and mom South African

Business Insider reports that Glasenberg's dad was from Lithuania. The businessman grew up in Illovo, Johannesburg, and went to Hyde Park High School.

2. He is among South Africa's richest people

According to Forbes, Glasenberg is worth a whopping $5.4 billion (R78 billion). This puts him at number 309 on the list of billionaires in the world.

In South Africa, he is reportedly third.after Nicky Oppenheimer and Johann Rupert.

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3. Glasenberg has a reputation for business ruthlessness

Over the years, Glasenberg has built Glencore into the world's largest commodity trading company.

As a sign of his ruthlessness, he famously edged out his close friend, Mick Davis, from the CEO position after their companies merged. Davis eventually left the company, according to Business Insider.

4. He almost took part in the 1984 Olympics

Glasenberg is known to be a race-walking enthusiast, so much that he almost participated in the 1984 Olympics. Curiously, he reportedly wanted to compete under Israel's flag.

5. He and Ramaphosa have been in business together

Glasenberg and Ramaphosa have reportedly known each other for over 30 years. The two partnered in the Shanduka Coal project in 2005 and other ventures.

Interestingly, they are both early morning walkers.

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Source: Briefly.co.za

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