Marc Rich, legendary commodities trader, dies

LONDON (Reuters) – Marc Rich, commodities trader and founder of the group that became Glencore Xstrata (GLEN.L ), has died, the head of the Marc Rich Foundation, Avner Azulay, said on Wednesday.

“Marc Rich passed away this morning at his home in Lucerne. He will be brought to Israel for burial,” Azulay said.

Rich is credited with creating modern oil trading.

(Reporting by Ron Bousso- Editing by Clara Ferreira-Marques)