Ivan Glasenberg, the South African billionaire and Glencore’s top shareholder, has seen his stock in the Swiss multinational commodity trading and mining corporation fall by $1.03 billion in the last 25 days.
Glasenberg’s 9.81 percent investment in Glencore fell from £5.78 billion ($7.41 billion) to £4.98 billion ($6.39 billion), an almost 14 percent loss. This follows prior profits of $640 million between May 1 and 18.
Glencore, a major player in the global commodities market with operations in more than 50 countries, has suffered a considerable decline.
The company’s market value has lately gone below $70 billion, as its share price on the London Stock Exchange fell 13.87 percent, from £4.83 ($6.20) on July 5 to £4.16 ($5.34) today.
Ivan Glasenberg, who owns 9.81% of Glencore and is among the world’s top 500 richest individuals, has seen his share value plummet. His investment is currently worth $6.39 billion, a substantial decrease from $7.41 billion on July 5.
Despite the present setback, Glasenberg continues to look for opportunities outside of the mining sector, proving his dedication to diversifying his investments and preserving strategic leadership.
Glencore’s shares have lost 11.18 percent year to date, resulting in a significant decrease in investment returns.
A $100,000 investment at the beginning of 2024 would now be worth $88,819, representing a $11,181 loss. Potential investors should exercise caution and conduct extensive research before investing in Glencore.
