Dan Gertler’s profile picture

Dan Gertler

Dan Gertler’s profile picture
Net worth 2018: $1.22 Billion
Industry: Metals & Mining
Residence: Bnei Brak, Israel
Country: Israel
BirthDay: 1973
Children: 11
Education: Diploma, High School
BIOGRAPHY

Dan Gertler was bornon 1973 in Bnei Brak, Israel, Israel. Dan Gertler is #1802 in List Billionaires People In The World. Israeli-born Dan Gertler built a fortune through mining ventures in Africa's developing economies -- primarily in the Democratic Republic of Congo (DRC). In February 2017, he sold his stakes in Congo's Mutanda and Katanga mines to commodities giant Glencore in a $960 million deal; Gertler's take is an estimated $534 million before taxes. His time in Congo has been dogged by accusations from NGOs that he snapped up mining assets on the cheap by cozying up to politicians. He vigorously denies the claims and has taken steps to show he's a good faith actor. In 2013, his Gibraltar-based firm Fleurette joined the Extractive Industries Transparency Initiative and reconfirmed its commitment in early 2016. Gertler's grandfather was the first president of the Israeli Diamond Exchange; Gertler sold off those diamond assets to fund purchases in copper, gold and oil mining. He bought his first mine in the DRC in 1997 and soon became friends with DRC President Joseph Kabila. Gertler plans to drill for oil in the DRC's Lake Albert, where early seismic tests have revealed as many as 3 billion barrels of oil. He has also developed a 1,482-acre kibbutz-style farm in the DRC, designed as a model to help address food insecurity. His charitable foundation, also operating in the DRC, supports teenage women who become mothers after being raped, among other initiatives.

NET WORTH STATISTIC
2013

$2.2 Billion

2014

$2.5 Billion

2015

$1.6 Billion

2016

$1.2 Billion

2017

$1.2 Billion

2018

$1.22 Billion

TIMELINE
2017

In 5 November 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that Glencore loaned $45 million to Gertler in exchange for his help with officials of the Democratic Republic of Congo in negotiations over a joint venture with state-owned Gécamines at the Katanga copper mine in 2009

2016

As of April 2016 it employed 30 000 people and was the largest source of private receipts for the Congolese government

2015

As of 2015 his fortune was estimated at 1,26 billion by Forbes

2013

In April 2013, Gertler sold one of his Congo-based oil companies, Nessergy Ltd, for $150 million

2012

In December 2012 the International Monetary Fund stopped a US$500m (£310m) loan to the Congo because of irregularities in the way a company reputed to be controlled by Dan Gertler acquired minerals from Joseph Kabila's government

2011

Gertler's attorney said, Gertler had "no knowledge of the claims raised regarding the [Panamanian firm's decision] to terminate representation in 2011

2010

In February 2010 Emerald Star Enterprises Limited purchased Gécamines' 50% for $15 million and sold these shares to Eurasian Natural Resources Corporation (ENRC) for $50 million

2009

December 21, 2009 Emerald Star sold an option to buy the remaining 50% stake of Société Minière de Kabolela et de Kipese SPRL, (a company formed by Melkior Resources Inc and Gécamines that holds the rights to develop the Kabolela cobalt-copper deposit) to Katash-founded mining company Eurasian Natural Resources Corporation (ENRC) who already owned 50%

2008

"In 2008, Camrose Resources Ltd, a Gertler family trust company, purchased s 62

2007

In April 2007 Africo was preparing to purchase enough shares to become the majority shareholder of Kalukundi when a third party entered into litigation claiming prior ownership

2006

In July 2006, Nikanor's stock was listed on the London Stock Exchange's Alternative Investment Market

2005

The deal was ratified October 13, 2005 by presidential decree

2004

In May 2004 GEC signed an agreement with the state-owned Gécamines, finalized in September 2004, to rehabilitate and operate the Kananga and Tilwezembe copper mines

2002

In April 2002, Emaxon Finance Corp secretly signed a contract through which Gertler gained a four-year right to market 88% of the rough-diamond production of the Societé minière de Bakwanga(MIBA), about a quarter of the DRC's legitimate diamond exports at around 600,000 carats a month

2001

also reported by the International Development Research Centre according to the 2001 International Peace Information Service (IPIS) publication and according to the Quebec trade register

2000

From September 2000 through April 2001, Gertler had the sole right to buy "all diamonds produced in territory under the control of the Congolese Government", for which he had paid Kabila $20 million

1996

In 1996, Gertler founded the Dan Gertler International (DGI) group of companies

1973

Dan Gertler was born in December 1973, a grandson of Moshe Schnitzer, first President and co-founder of the Israel Diamond Exchange in 1947, who won the Israel Prize in 2004

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