#63 The King of Oil: The Secret Lives of Marc Rich

What I learned by from reading The King of Oil: The Secret Lives of Marc Rich by Daniel Ammann. ---- The spot market for oil was one of the most lucrative ideas of the twentieth century. [0:01] the historical events intertwined with the career of Marc Rich [5:15] how his family escapes the Nazi's [12:00] his first jobs + learning from his father + finding his vocation [14:30] learning the commodities business from A to Z [20:00] his work environment was training for entrepreneurship + how he thought about the opportunity in oil [30:30] Marc gets screwed on pay so he starts his own company [35:00] why Marc chose Switzerland as the headquarters of Marc Rich + Co. [37:00] why the invention of the spot market was important [43:00] why Marc Rich thought he was exempt from Jimmy Carter's executive order [46:15] the state of his business in 1990 [1:01:00] how to lose $172,000,000 [1:14:00] ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast