Marc Rich
Person
Born
Oil and metals trading, Switzerland. Rich, a metals trader, helped create the spot market for crude oil in the 1970s, buying from producers outside the big oil companies' contracts, and founded Marc Rich and Co. in Zug in 1974. He traded with regimes others shunned, including apartheid South Africa and Iran during the hostage crisis, and was indicted in the United States for tax evasion and sanctions breaking before a controversial presidential pardon in 2001. His firm later became Glencore.
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