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Late Marc Rich's Swiss mansions for sale

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Late Marc Rich's Swiss mansions for sale
Marc Rich. Photo: Marc Rich Group/AFP
23:11 CEST+02:00
The daughters of the late expat American commodity trader and financier Marc Rich have put up for sale his luxury Swiss homes in the canton of Lucerne and the mountain resort town of St. Moritz.

Rich, a controversial onetime billionaire founder of the Glencore mining company, died in June at the age of 78.

The villa where he spent his last years on an estate overlooking Lake Lucerne is on the market, along with a chalet in the Graubünden mountain resort, Handelszeitung, the Swiss business journal, reported online on Wednesday.

The newspaper said Rich’s two daughters want to dispose of their father’s properties in Switzerland, while liquidating a struggling real estate company he owned in Spain and selling a seaside home in Marbella.

Rich is celebrated for making a fortune in metals such as aluminum, silver and zinc by cornering the market and in dubious dealings in oil.

He became a fugitive in Switzerland after being indicted in the early 1980s on charges of widespread tax evasion, illegal dealings with Iran and other crimes.

On his last day in office in January 2001, President Bill Clinton pardoned Rich and its was later learned his wife (whom he later divorced) had made substantial donations to the Democratic Party in the US.

Before he died, Rich attempted to sell his official residence, Villa Rose in Meggen, near Lucerne, but a deal fell through in 2012.

It was widely reported that he had sought 100 million francs for the mansion, with its sprawling grounds of 10,117 square metres.

Handelszeitung said property experts put the value of the 700-square-metre home at around 60 million francs.

His daughters are also looking to part with the St. Moritz chalet, which has a value of around 50 million francs, the newspaper said.

The villa in Marbella on the Costa del Sol in southern Spain is estimated at 10 million francs.

Richard Kilstock, a British real estate entrepreneur who married Rich’s youngest daughter, is instrumental in “streamlining” the late Rich’s portfolio, which is said to be valued at around one billion francs, Handelszeitung said.

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