Unveiling the Secrets of Marc Rich: A Journey into the Extraordinary Life of a Commodities Titan

Marc Rich, the enigmatic commodities trader who defied international sanctions and became a billionaire, has led a life shrouded in mystery and intrigue. His name is synonymous with risk, wealth, and power, but behind the public persona lies a complex and multifaceted character.

Early Life and Career

Marc Rich was born in Antwerp, Belgium, in 1934. His family fled to the United States to escape the Nazi occupation of Europe. Rich attended New York University, where he studied law, but dropped out to pursue a career in commodities trading. In the early 1960s, he founded Marc Rich & Co. AG, a commodities trading firm that would become one of the largest in the world.

The King of Oil: The Secret Lives of Marc Rich

by Daniel Ammann

4.4 out of 5

Language	:	English
File size	:	578 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	317 pages
Screen Reader	:	Supported

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Defying Sanctions

Rich's boldest move came in the 1980s when he violated US sanctions against Iran. In 1983, he sold oil to Iran in defiance of a US embargo. This act earned him an indictment on charges of tax evasion and racketeering. Rather than face trial, Rich fled to Switzerland, where he remained a fugitive for nearly two decades.

Success in Exile

Despite his fugitive status, Rich continued to run his commodities empire from Switzerland. He expanded his operations into new markets, including Russia and the Middle East. By the early 2000s, Marc Rich & Co. AG had become one of the largest independent oil traders in the world.

Return to the US

In 2001, President Bill Clinton pardoned Rich, allowing him to return to the United States. The pardon was highly controversial, with some critics accusing Clinton of granting clemency to a fugitive who had violated US laws. Rich maintained his innocence, claiming that he had been unfairly targeted by the US government.

Philanthropy and Art Collection

After his return to the US, Rich became a prominent philanthropist. He donated millions of dollars to various charities, including the American Red Cross and the Israel Museum in Jerusalem. Rich was also a passionate art collector, amassing a vast collection of paintings, sculptures, and other works of art.

Legacy and Controversy

Marc Rich died in 2013 at the age of 78. His legacy remains a complex one. He was both a brilliant businessman and a controversial figure. His defiance of international sanctions earned him a reputation as a rogue trader, but he also used his wealth to support numerous charitable causes.

Marc Rich was a larger-than-life character who left an indelible mark on the world of commodities trading. His life was filled with risk, wealth, and controversy. Behind the public facade, he was a complex and multifaceted individual with a keen eye for business and a passion for art and philanthropy. The secret lives of Marc Rich offer a fascinating glimpse into the enigmatic world of a global commodities titan.

The King of Oil: The Secret Lives of Marc Rich

by Daniel Ammann

4.4 out of 5

Language	:	English
File size	:	578 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	317 pages
Screen Reader	:	Supported

FREE