Table of Contents
Key Point
- Ivan Glasenberg’s stake in Glencore has decreased by $1.03 billion over 25 days, falling from $7.41 billion to $6.39 billion.
- Glencore’s market capitalization falls below $70 billion, with its share price down 13.87% since July 5.
- Glencore shares down 11.18% year-to-date; a $100,000 investment at the start of 2024 is now worth $88,819.
Ivan Glasenberg, the South African billionaire and largest shareholder of Glencore, has seen his stake in the Swiss multinational commodity trading and mining company decline by $1.03 billion over the past 25 days.
According to data tracked by Billionaires.Africa, Glasenberg’s 9.81 percent stake in Glencore has declined from £5.78 billion ($7.41 billion) to £4.98 billion ($6.39 billion), a drop of nearly 14 percent. This comes after earlier gains of $640 million between May 1 and 18.
Glencore’s market cap slumps below $70 billion
Glencore, a key player in the global commodities market with operations in over 50 countries, has experienced a significant downturn.
The company’s market capitalization has recently fallen below $70 billion as its share price on the London Stock Exchange dropped by 13.87 percent, from £4.83 ($6.20) on July 5 to £4.16 ($5.34) currently.
Glasenberg’s stake in Glencore slumps by nearly 14 percent
Ivan Glasenberg, who holds a 9.81 percent stake in Glencore and ranks among the world’s top 500 richest individuals, has seen his share value decline sharply. His stake is now worth $6.39 billion, a significant drop from $7.41 billion on July 5.
Despite the current setback, Glasenberg continues to explore opportunities beyond the mining sector, demonstrating his commitment to diversifying his investments and maintaining strategic leadership.
Your Money and Your Life: Glencore shares down by more than 11% YTD
Glencore’s shares have fallen 11.18 percent year-to-date, causing a notable decrease in investment returns.
A $100,000 investment at the start of 2024 would now be worth $88,819, reflecting an $11,181 loss. Potential investors are advised to exercise caution and conduct thorough research before investing in Glencore.
