Trader and financier Mark Rich
A trader is not only a stock trader, futures or other securities, he is first and foremost a trader who, thanks to his ingenuity, intelligence and approach, makes huge amounts of money.
The most interesting thing is that all billionaire traders are embarrassed and silent about their dark past, hiding behind beautiful statistics and financial statements in order to explain how they earned their billions.
However, behind every sales contract lies bribery, collusion, and pressure. This article introduces the biography of one of the most notorious traders, Mark Rich, who adhered to a very simple principle: the murkier the water, the bigger the fish to be caught.
Marc Rich's early years
Marc Rich was born in 1934 in Antwerp, Belgium. Although Marc Rich himself claimed his family was very poor, according to numerous journalists' investigations, this was far from the truth.
It's worth noting that Rich is not his real surname, as it was originally Reich. During the German occupation of Belgium, Marc Rich and his family fled to the United States, and the surname was changed so that its obvious German origins wouldn't hinder his connections and contacts.
From childhood, Mark Rich possessed simply phenomenal abilities and had a very good memory.
However, no matter how amazing his scientific inclinations were, it was simply impossible to keep Mark at his school desk.
It's worth noting that even in his youth he was drawn to travel, and overall he was a typical troublemaker who barely finished school with Cs.
In 1950, after graduating from high school, he moved with his family to New York City, as his father opened a jewelry store.
There, he was forced to enroll in the local university, but after barely completing one year, he was immediately expelled. Mark himself couldn't sit still, and thanks to his travels and exploration of the business world, he was able to learn about five different languages, but he still remained without a diploma.
Commodity trader
In 1954, Marc Rich had fully decided what he wanted to be and clearly understood that he had the blood of a true trader in his veins. At his very first interview with the then-renowned trader Ludwig Jesselson, who represented Philipp Brothers, he demonstrated his mathematical abilities.
During the conversation, Ludwig asked Mark to multiply six-digit numbers and calculate the root. After Mark succeeded in doing this in a matter of seconds, Ludwig hired him immediately, despite his lack of education.
Within the company, Marc Rich's growth was evident before our eyes, and this was facilitated by Rich's phenomenal negotiating ability.
His first victory, which demonstrated his abilities, was a mercury deal. At the time, the Korean War was raging, and the strategic metal was scarce on the US market.
However, after a simple trip, this very young man brought back contracts worth millions of dollars and was able to make Philipp Brothers a monopoly on the US market.
After receiving a promotion for his work, Marc Rich was sent to Cuba to establish new ties with Fidel Castro's regime, which had emerged after the revolution. It's worth noting that all US companies avoided such contacts, but Rich feared no one.
Through bribery, kickbacks, and numerous illegal activities in the United States, Mark secured multi-billion dollar nickel and copper contracts.
A turning point in his career came in 1967, when he was sent to head the main division in Madrid, where he actually met his partner. After another successful deal, Mark and his partner demanded their share of the profits, which amounted to two million dollars.
However, the company refused, so Rich quit and founded his own company, Marc Rich AG. It's worth noting that the new firm quickly snatched up all of Philipp Brothers' contracts and entered the oil market.
Rich's zenith and multibillion-dollar profits came from oil contracts with Iran, circumventing US sanctions against that country. Rich was also present in the markets of former Soviet countries, particularly Russia and Ukraine. Mark was tried in the United States for the Iran deal, but fled to Spain.
Trader and financier Marc Rich died in 2013, leaving behind a fortune of over $2.5 billion. Many journalists call him the father of corruption, but he conducted business as the times demanded, nothing more.
