Billionaire Marc Rich, the pioneering oil trader who was
also a fugitive from US justice for tax evasion, racketeering and
busting sanctions with Iran, was laid to rest in a quiet funeral outside
Tel Aviv yesterday.
About 100 people, mostly family and old business associates, attended
the Jewish religious funeral in the pastoral grounds of Kibbutz Einat.
Those who were there to see the ‘King of Oil’ laid to rest described
Rich as loving, kind and generous and not as his public image might
suggest.
He was buried next to his daughter, Gabrielle, who died of leukemia in 1996 at the age of 27.
The rabbi of Jerusalem’s Western Wall, Shmuel Rabinovitch, led a prayer at the ceremony.
Avner Azulay, managing director of the Marc Rich Foundation, said few people really knew Rich.
Belgian-born Rich fled the Holocaust with his parents for America to
become the most successful and controversial trader of his time and a
fugitive from U.S. justice. He died on Wednesday in Switzerland aged 78
of a stroke.
His trading group Marc Rich and Co AG in Switzerland eventually became the global commodities powerhouse Glencore Xstrata.
Absent from the funeral were the elite of Israel’s business world and
leading politicians such as former Prime Ministers Ehud Barak and
Shimon Peres, who lobbied U.S. President Bill Clinton on Rich’s behalf
for his pardon.
A son of Peres did attend the funeral, as did Glencore Xstrata chief
executive Ivan Glasenberg and the daughter of former partner Pincus
“Pinky” Green.
Rich fled to Switzerland in 1983 to escape charges that included
exploiting the U.S. embargo against Iran, while it was holding U.S.
hostages, to make huge profits on illicit Iranian oil sales. He always
insisted he did nothing illegal.
He remained under threat of a life sentence in a U.S. jail until
Clinton pardoned him during the last chaotic hours of his presidency, a
move that provoked moral outrage and bewilderment among some
politicians. He never returned to the United States.
Rich’s ex-wife, Denise, had donated funds to Clinton’s presidential library.
The former president later said the donation was not a factor in his
decision and he had acted partly in response to a request from Israel.
He regretted granting the pardon, calling it “terrible politics
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