The King of Oil: The Secret Lives of Marc Rich

slowly convert that country into a democracy. As I was saying before, politicians can’t fool people like they used to.
    Are there any deals that you would not make for ethical reasons?
I would not engage in any illegal activity, of course.
    Have you ever traded arms—legally, I mean?
We’ve been approached to become involved in the arms business a few times over the years. We’ve always pointed out very clearly that it’s our policy not to get involved in such business. Neither I nor my companies sold, traded, or trafficked in arms for any country—including friendly countries.
    You are very active as a philanthropist, not least in Israel. After the Lebanon War of 2006 and the recent conflict in Gaza, will there ever be peace between Israel and the Palestinians?
My foundation has made substantial efforts to foster a better understanding between Israelis and Palestinians. It’s not an easy task, but I believe the two should be able to live together peacefully sometime in the future.
    What are the reasons that there has been no peace yet?
The whole situation is hugely complex, but one of the reasons is certainly the settlers.
    What has to change in order to give peace a chance?
Peace is a long-term project, in some cases tremendously long-term. It needs a certain economic well-being of the peoples involved. It needs tolerance and the experience that wars and terrorism don’t pay off. All of these need to be learned, and it can take generations until people have accepted it.
    Do you see the rise of Islamist fundamentalism in oil-producing countries like Iran or Saudi Arabia as a threat?
Fundamentalism of all colors is a threat.
    What would happen to the global oil supply and to the oil price if fundamentalists would take over the power in Saudi Arabia?
The oil price would become even more volatile because of the uncertain and unpredictable behavior natural to fundamentalists and extremists of any type, but even fundamentalists will eventually succumb to the temptation of turning crude oil into easy money to buy themselves the support of their population.
    Arabs. Russians. Africans. Chinese. Indians. Europeans. You traded with all of them. How do they differ when it comes to business?
Business everywhere is driven by the same motives, creating and selling things to make an income, but there are differences between different peoples or nations. It’s all about local codes. To know and accept them can make a big difference in business.
    Who was your toughest business partner?
My toughest business partners were Pinky [Pincus Green] and Alec [Hackel]. That was one of the reasons we were so successful.
    What were your three biggest successes analyzing the world markets?
Crude oil, aluminum, and currencies.
    What were your three biggest failures?
Not to have had bigger positions of the three best ones.

 

     

EPILOGUE
     
    The Gray Area
     

    T
he snow was falling lightly as I drove along the narrow curved road that led down to the Villa Rose. I stopped in front of the massive wrought-iron gate and assumed a pleasant look for the camera installed on a stone pillar. “
Grüezi
,” the voice from the speaker called in greeting, before asking for the purpose of my visit. I announced my name, and the iron gate opened slowly in reply. I drove toward the covered parking area next to the villa. It was only then that I noticed the silver Mercedes that had been following me. At the wheel was one of Marc Rich’s bodyguards. He nodded toward me with a smile on his face.
    It was 8:30 A.m. on a Thursday. I had arranged to have breakfast with Rich and asked if we could meet in his home. “I don’t mind,” he answered and invited me to meet him at his estate in Meggen on Lake Lucerne, the Villa Rose. A Spanish-speaking servant opened the door and directed me to the living room. I sat waiting on a beige sofa while admiring the valuable cubist works of art hanging on the surrounding walls. There were paintings by the French artists Fernand Léger and Georges Braque and by Rich’s fellow Spaniard Pablo Picasso. In the corner stood a slim bronze sculpture by the Swiss artist Alberto Giacometti.Glenn Gould’s interpretation of a piano piece by Johann Sebastian Bach could be heard from the tiny speakers mounted on the ceiling.
    Suddenly Marc Rich appeared and greeted me. As always, he was wearing a dark suit with a white shirt and red tie. He looked me over and said only half-jokingly, “It’s never too early to wear a