Contacts with the royal family of Iran enabled him to acquire huge quantities of Iranian oil in anticipation of the Opec embargo in 1973, which precipitated a tripling of the barrel price. The potential winnings were enormous, but Rich’s employer, the relatively conservative New York trading firm of Philipp Bros, could not stomach such exposures and was not prepared to pay him what he felt he deserved. So he left.
Posted on: Sun, 21 Jul 2013 20:27:20 +0000
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