South African billionaire Ivan Glasenberg stages a swift comeback, regaining lost ground as his net worth climbs above $9 billion. This stems primarily from a surge in his investment portfolio, particularly his holdings in Glencore, the Swiss multinational commodity and mining company.
The recent surge in Glasenberg’s fortune translates to an average daily gain of $37.6 million. According to the Bloomberg Billionaires Index, Glasenberg’s net worth, which places him among the world’s wealthiest individuals, has increased by $640 million over the past 17 days. This surge has propelled his fortune from $8.71 billion on May 1 to $9.35 billion as of reporting.
Glencore stake fuels Glasenberg’s wealth rise
The main driver of Ivan Glasenberg’s recent wealth surge is his 9.81-percent stake in Glencore, the cornerstone of his $9.35 billion fortune. This uptick further cements his position among Africa’s richest.
The $640-million wealth surge has propelled Glasenberg 14 spots higher on the global rich list, landing him at 276th, compared to 290th on May 1. Year-to-date, his wealth has grown by a solid $489 million.
Glencore’s recent share price increase on the London Stock Exchange has significantly bolstered the value of Glasenberg’s stake in the Swiss multinational. Over the past 16 days, his holding has gained $476.6 million, rising from $7.16 billion on May 1 to $7.64 billion at press time.
Glencore shares surge by over six percent
Glencore shares have witnessed a 6.65-percent upswing, rising from £4.66 ($5.921) on May 1 to £4.97 ($6.315) at the time of this report. This surge is primarily fueled by the recent rebound in Glencore’s share price on the London Stock Exchange.Â
Glasenberg’s wealth surge highlights the dynamic nature of global markets and the profound impact of market movements on the fortunes of high-profile investors. This recent rebound further cements his position among the world’s wealthiest individuals.
