Who Is Marc Rich? Age, Biography and Wiki
Marc Rich was born on December 18, 1934, and passed away on July 26, 2013. As of 2025, he would have been 90 years old. Rich was a renowned American commodities trader and businessman, well-known for founding the global trading company Marc Rich and Co. AG, which specialized in metals, oil, and other commodities. His controversial business practices, including his involvement in tax evasion and his subsequent pardon by President Bill Clinton, have made him a notable figure in the financial and political world.
| Occupation | Manufacturing |
|---|---|
| Date of Birth | December 18, 1934 |
| Age | 78 Years |
| Birth Place | Antwerp, Belgium |
| Horoscope | Sagittarius |
| Country | Switzerland |
| Date of death | 26 June, 2013 |
| Died Place | Lucerne, Switzerland |
Popularity
Marc Rich's Popularity over time
Height, Weight & Measurements
Though exact measurements for Marc Rich were not publicly documented throughout his life, he was known to have an average height and weight typical for men of his generation. Image portrayal in various media indicates he maintained a professional appearance, often seen in business attire characteristic of successful businessmen.
In 2001, the Zug based Crown Resources AG, which is associated with Alfa Group, merged with the Zug-based Marc Rich & Co. Investment AG (MRI), which is the Swiss-based commodities trading arm of the Marc Rich Holding company, to create a commodities trading house.
Family, Dating & Relationship Status
Marc Rich was married to Denise Rich, a prominent socialite and philanthropist. The couple had two daughters together. Over the years, Denise has been recognized for her contributions to various charitable causes, particularly in the arts and medical research sectors. There is no publicly known information about any relationships after Marc Rich's passing.
Marc Rich (born Marcell David Reich; December 18, 1934 – June 26, 2013) was an international commodities trader, financier, and businessman.
He founded the commodities company Glencore, and was later indicted in the United States on federal charges of tax evasion, wire fraud, racketeering, and making oil deals with Iran during the Iran hostage crisis. He fled to Switzerland at the time of the indictment and never returned to the United States.
He received a widely criticized presidential pardon from President Bill Clinton, on his last day in office; Rich's ex-wife Denise had made large donations to the Democratic Party.
Net Worth and Salary
At the time of his passing, Marc Rich’s estimated net worth was around $1 billion, mostly attributed to his successful trading company and various investments. His financial success has made him a notable figure in the commodities trading industry, and his story often serves as a reference point for discussions around wealth and ethics in business.
In 1983, Rich and partner Pincus Green were indicted on 65 criminal counts, including income tax evasion, wire fraud, racketeering, and trading with Iran during the oil embargo (at a time when Iranian revolutionaries were still holding American citizens hostage).
The charges would have led to a sentence of more than 300 years in prison had Rich been convicted on all counts. The indictment was filed by then-U.S. Federal Prosecutor (and future mayor of New York City) Rudolph Giuliani. At the time, it was the biggest tax evasion case in U.S. history.
Career, Business and Investments
Marc Rich started his career at the young age of 17, working as a clerk at a commodities trading house in New York. He soon rose through the ranks, ultimately founding Marc Rich and Co. in 1974. Under his leadership, the company became one of the largest independent oil traders in the world. Rich's strategies and risk-taking approach in commodities trading revolutionized the industry, inspiring a new generation of investors. Despite facing legal challenges and controversies, his legacy in the trading world remains influential.
At Philipp Brothers, he eventually became a dealer in metals, learning about the international raw materials markets and commercial trading with poor, third world nations. He helped run the company's operations in Cuba, Bolivia, and Spain. In 1974, he and co-worker Pincus Green set up their own company in Switzerland, Marc Rich + Co.
AG, which would later become Glencore Xstrata Plc. Nicknamed "the King of Oil" by his business partners, Rich was said to have expanded the spot market for crude oil in the early 1970s, drawing business away from the larger established oil companies that had relied on traditional long-term contracts for future purchases.
As Andrew Hill of the Financial Times put it, "Rich's key insight was that oil – and other raw materials – could be traded with less capital, and fewer assets, than the big oil producers thought, if backed by bank finance.
It was this leveraged business model that became the template for modern traders, including Trafigura, Vitol, and Glencore".
Social Network
While Marc Rich was less active on social media during his lifetime compared to contemporary celebrities, his legacy persists through various financial forums and discussions. Posthumous recognition exists on platforms like LinkedIn, where professionals in trading and finance continues to reference his methodologies and business decisions.
Education
Marc Rich attended New York University but left before completing his degree to pursue a career in commodities trading. His informal education gained from real-world experiences made him a self-taught expert in the trading domain, which further propelled his capabilities and success within the industry.
In May 2007, Rich received an honorary doctorate from Bar Ilan University, Ramat Gan, Israel, in recognition of his contribution to Israel and to the university's research programs. He received the same honor from Ben-Gurion University of the Negev, Beersheba, Israel, on 18 November 2007.
The Chaim Sheba Medical Center at Tel Hashomer in suburban Tel Aviv, Israel, honored Rich with the Sheba Humanitarian Award 2008. Former recipients of this award include actor Michael Douglas, actress Elizabeth Taylor, and former U.S. President Gerald R. Ford.
