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South African billionaire gains $360 million from Glencore shares after 2024’s $1.9 billion loss

This marks a partial recovery after a challenging year in which his stake dropped by nearly $2 billion.

Ivan Glasenberg

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Key Points

  • Ivan Glasenberg's stake in Glencore gained $360 million in 25 days, partially recovering losses from a tough 2024 mining sector performance.
  • Glencore's share price rose nearly 7%, boosting Glasenberg's holdings to $5.67 billion, following a $361 million increase in value.
  • Glencore’s potential merger with Rio Tinto, driving a 6.8% share price rise, strengthens its market position and Glasenberg’s wealth.

South African billionaire Ivan Glasenberg is beginning to recover from a tough 2024, a year that saw his portfolio lose $1.9 billion amid a challenging period for the mining sector. In the past 25 days, however, his stake in Glencore, the Swiss commodities giant, has gained more than $360 million.

Glasenberg, who owns 9.93 percent of Glencore—about 1.2 billion shares—is one of the 500 wealthiest people globally. His holdings have grown by £290.87 million ($361.1 million) recently, thanks to a nearly 7 percent jump in Glencore’s share price.

This increase offers a glimpse of recovery after a year marked by a nearly $2 billion drop in the value of his stake. The decline was driven by widespread challenges in the mining industry, particularly falling commodity prices that affected many major companies.

Glencore shares surge amid merger talks

Glencore, a major player in the global commodities market with operations in over 50 countries,  has strengthened its position in the commodities market, operating across 35 countries and managing over 60 commodities

The company, which employs 150,000 people, is reportedly in advanced discussions about a potential merger with Rio Tinto, the world’s second-largest miner. Although neither company has confirmed the talks, a deal of this scale could create the largest mining group in history, rivaling BHP Group. 

News of the potential merger has helped Glencore’s share price climb 6.8 percent over the past 25 days, rising from £3.53 ($4.40) to £3.77 ($4.69). This increase has pushed the company’s market capitalization on the London Stock Exchange above $55 billion, benefiting its shareholders, including Glasenberg.

Glencore shares boost Glasenberg’s stake value

Thanks to the recent uptick in Glencore’s shares, the market value of Glasenberg’s stake has grown from £4.28 billion ($5.31 billion) to £4.57 billion ($5.67 billion). This not only reinforces his position among the world’s richest individuals but also highlights his role in steering the commodities giant through challenging economic times.

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