Later next month, Glencore will go public in an IPO that is expected to raise as much as $11-12 billion, giving the commodities firm a potential market value of between $55-73 billion. It’s multiple exclamation point exciting, not unlike Fortress’s hernia-inducing IPO of 2007. As part of the buildup to the big event, there’s been a demand for insight into how Glencore, founded in 1974 by Marc Rich and currently run by Ivan Glasenberg, got to where it is today and what it looks like on the inside. One theory currently being floated is that it’s a cult. Continue reading »