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Switzerland has a large economy and highly skilled labor force. Fifteen Swiss companies are included on Fortune's "Global 500" list (in 2011).As of 2018 the largest non-financial companies in terms of annual revenue were Glencore, Vitol and Trafigura, with Nestlé as the largest employer.
Trafigura is the third-largest physical commodities trading group in the world behind Vitol and Glencore. [60] Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals, iron ore, and coal. [15] [61] It more recently added a third division, focused on gas, [7] power, and ...
Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. By some estimates, it is the world's largest commodity trader, [4] and among the world's largest companies. [5] [6] [7]
Marc Rich (born Marcell David Reich; December 18, 1934 – June 26, 2013) was an international commodities trader, financier, and businessman.He founded the commodities company Glencore, and was later indicted in the United States on federal charges of tax evasion, wire fraud, racketeering, and making oil deals with Iran during the Iran hostage crisis.
The company, which was founded in 2000, is the fourth largest crude oil trader in the world after Glencore, Vitol and Trafigura. [4] Today, Gunvor originates most of its crude oil from the Americas. [5] It also trades African, Asian, and South-American oil products and is active on all continents. [6]
Corporate loans and revolving credit facilities granted to the five main Swiss energy trading houses (Glencore, Mercuria, Gunvor, Vitol and Trafigura) between 2013 and 2019 exceeded $360 billion. Switzerland is also a major hub for gold trading with some of the largest refiners including Valcambi, PAMP/MKS, Argor-Heraeus and Metalor. [84] [85] [86]
The top four traders Vitol, Cargill, Glencore and Trafigura, made a combined $50 billion in profits in 2022, five times more than in the previous decade, also because traders were producing additional profits from buying cheaper and sanctioned oil cargoes and selling them at a hefty profit. Henceforth, the main concern for the U.S. and European ...
By that time, Trafigura had brought in Sonangol as a 30% shareholder in Puma, and had also reduced its own stake to 49%. [6] Dauphin never took Trafigura public, believing private company status was the best model for a trading firm. [10] Trafigura's revenue rose tenfold in the period from 2005 to 2014 to reach $127 billion. [8]