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The flotation of Glencore uncovers the fourth richest English

05.05.2011 London Amparo Polo / Roberto Casado. 1

Daniel Maté, a senior official of the largest commodity in the world, controls 6% of the company. The fortunes of the English is valued at 3,700 million dollars.

Daniel Maté has just become the fourth richest man in Spain thanks to the flotation of Glencore, the commodities company in which the executive controls 6.8% of capital.

Yesterday it was revealed that Maté, a manager totally unknown to the English public who lives in Switzerland, has that participation in Glencore. With the upcoming debut of the company in the London Stock Exchange, shares of Maté will have a market price of about U.S. $ 3,700 million (2,500 million euros), placing it among the wealthiest families in Spain.
The executive is not expected to sell any of its shares in the flotation, although its share drop to 6% to slightly diluted in the operation. Opacity

Glencore, a company characterized by its high opacity, has been forced to undress before the market because of its IPO, which is the highest placement made in the history of the London Stock Exchange. Its market value ranging from the 48,000 and 58,000 million dollars, according to the price range provided by the group. Maté
This makes multi-million dollar fortune Maté in the fourth richest man in Spain after Amancio Ortega, chairman of Inditex, which, according to Forbes magazine, has an endowment of 31,000 million dollars Andic Isaac, owner of Mango, which amounts to 6,100 million fortune, and Rosalia Mera, ex-wife of Ortega and shareholder of Inditex, which has 4,200 million. Maté

ahead in the ranking of Spain's richest entrepreneurs as Manuel Jove, president of Fadesa, or Juan Roig, owner of Mercadona. Yesterday, it was also learned that Ivan Glasenberg, the CEO of Glencore, controls 15.8% of the firm, which evaluates his personal fortune at about 9,600 million dollars. Along with Maté, a manager of the company, Telis Mistakidis, codirector of the same division, also controls an additional 6% of the company.
recently said in an interview with Financial Times, that the intention of the IPO was not to enrich senior executives of the company, although many are going to become billionaires. The manager said he has no intention of retiring and will not sell their shares.

According to the prospectus for the flotation of the company, which has 1,600 pages, company executives may not sell their shares for a period that, in some cases has come to five years.

Glencore was founded in 1974 by Marc Rich, an oil trader who had fled the U.S. for tax evasion. Rich was pardoned by President Bill Clinton, on his last day before leaving the White House. The employer sold the company to its top executives in 1994 for 600 million dollars.

Daniel Maté, the 'Amancio Ortega' in the mining industry
The Glencore IPO promises to change the life of the company and its directors also hitherto unknown people in the business landscape. Daniel Francisco Maté

Bader, 47, is the only English at the top of Glencore. Thanks to the 6% that controls the company also is one of the new billionaires. I killed so far had a modest life in the Swiss town of Baar, near Zurich. Even executives in other raw materials were aware of its power and its latent wealth, valued at about 3,700 million dollars. "I met him at a party years ago, but never thought it was a guy so important ... and so rich, "explained an official at the sector yesterday.

With Amancio Ortega has not only shared his abundant wealth. As happened for years with the owner of Inditex, Maté there is no picture, which promises to increase interest in the executive of Basque origin. Maté

studied law and economics at the University of Deusto (Bilbao) and began working in the Madrid office of Glencore in 1988. There he specialized in metals, mainly in the field of logistics. Three years later, he joined the staff specializing in zinc in Switzerland, which merged with copper in 2002. Since that time, I killed it became mainly responsible for the group's operations in Spain, North Africa and South America. Since 2000, Maté is co-director of the division of zinc, copper and lead. A decade ago, was a counselor in the Asturiana de Zinc mining company, currently owned by Xstrata (firm owned by Glencore 34%).

A high-flying operation

The company Glencore, based in Switzerland, is the leading dedicated the sale and production of raw materials in the world. Placement

Secrecy Glencore has completed its decision to go to the London Stock Exchange, selling shares for 10,000 million dollars.


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