''The King of Oil: The Secret Lives of Marc Rich'' is a non-fiction book by Swiss investigative journalist

Daniel Ammann Daniel Ammann (born 1963) is a Swiss journalist and author. He was educated at University of Zurich, UC Berkeley and Fondation Post Universitaire Internationale in Paris. He holds an MA in Political Science, History and Constitutional Law. Amma ...

. The book was initially released on October 13, 2009 by

St. Martin's Press St. Martin's Press is a book publisher headquartered in Manhattan, New York City, in the Equitable Building. St. Martin's Press is considered one of the largest English-language publishers, bringing to the public some 700 titles a year under si ...

. It became an international bestseller and was published in nine languages.

Synopsis

The book focuses on the biography of

Marc Rich Marc Rich (born Marcell David Reich; December 18, 1934 – June 26, 2013) was an international commodities trader, hedge fund manager, financier, businessman, and financial criminal. He founded the commodities company Glencore, and was later ind ...

, a prominent international financier and commodity trader, who became a billionaire in the 1970s, arguably inventing the spot market for oil, grain, and metals. His Switzerland-based corporation Marc Rich + Co. AG actively traded with the apartheid regime of South Africa, Iran under Ayatollah Khomeini, Cuba, Nigeria under dictator

Sani Abacha Sani Abacha (20 September 1943 – 8 June 1998) was a Nigerian military officer and politician who ruled as the military head of state of Nigeria from 1993 until his death in 1998. He seized power on 17 November 1993 in the last successful c ...

, China, the Soviet Union, and later Russia. Indicted on some 65 criminal counts, including income

tax evasion Tax evasion is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the tax ...

wire fraud Mail fraud and wire fraud are terms used in the United States to describe the use of a physical or electronic mail system to defraud another, and are federal crimes there. Jurisdiction is claimed by the federal government if the illegal activity ...

, racketeering, and trading with Iran during the oil embargo, Rich, nevertheless, received a widely criticized presidential pardon from U.S. President Bill Clinton on his last day in office.

Reception

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and m ...

'' named the book one of the best business books of the year and called it a "must-read". The ''

Daily Beast ''The Daily Beast'' is an American news website focused on politics, media, and pop culture. It was founded in 2008. It has been characterized as a "high-end tabloid" by Noah Shachtman, the site's editor-in-chief from 2018 to 2021. In a 20 ...

'' called it a "journalistic coup". A reviewer of ''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid d ...

'' wrote "the usually tight-lipped Mr. Rich gave an extensive account of his oil trading". ''

Le Monde ''Le Monde'' (; ) is a French daily afternoon newspaper. It is the main publication of Le Monde Group and reported an average circulation of 323,039 copies per issue in 2009, about 40,000 of which were sold abroad. It has had its own website si ...

'' commented "The book reads like a thriller". A reviewer of '' Kirkus Reviews'' stated "A walking-on-eggshells attempt to shed light on arguably the most influential oil trader of our time... A flawed biography that reveals more about capitalist societies’ willful ignorance and ethical conundrums than the secret lives of its inscrutable subject." A reviewer of ''

Publishers Weekly ''Publishers Weekly'' (''PW'') is an American weekly trade news magazine targeted at publishers, librarians, booksellers, and literary agents. Published continuously since 1872, it has carried the tagline, "The International News Magazine of ...

'' commented "An empathetic look at the notorious Marc Rich, one of the most successful and controversial commodities traders in recent history and a key figure in the invention of the spot market... This meticulous account sets the record straight on a reluctant public figure who lost in the court of public opinion, but escaped being tried in a court of law."

Film

The book is rumoured to be cinematized by

Universal Pictures Universal Pictures (legally Universal City Studios LLC, also known as Universal Studios, or simply Universal; common metonym: Uni, and formerly named Universal Film Manufacturing Company and Universal-International Pictures Inc.) is an Ameri ...

with

Matt Damon Matthew Paige Damon (; born October 8, 1970) is an American actor, film producer, and screenwriter. Ranked among ''Forbes'' most bankable stars, the films in which he has appeared have collectively earned over $3.88 billion at the North Ameri ...

slated to portray the fugitive billionaire. John Krasinski will be a producer through his Sunday Night Productions.

References

External links

* {{DEFAULTSORT:King of Oil 2009 non-fiction books Books about traders Finance books St. Martin's Press books