In a tragic, if very odd coincidence, a day after we postulated that the real “commodity-trader” risk may not be Glencore after all, but its just as vast, if even more levered competitor, Trafigura, moments ago the privately-held company (with publicly traded bonds), announced that its founder and biggest shareholder, french billionaire Claude Dauphin has died at the age of 64.

From the press release:

It is with great sadness and regret we have to announce that Trafigura’s Founder and Executive Chairman, Claude Dauphin, passed away peacefully in the early hours of this morning in a hospital in Bogota, Colombia after a hard-fought battle with cancer.

Claude Dauphin (64) has been a leading figure in the global commodities trading industry for more than three decades. He founded Trafigura together with five partners in 1993, and as Chairman and CEO built the company into its current position as one of the world’s leading traders of oil, metals and minerals.

“Claude will be greatly missed by his family, friends, and vast network of business partners, as well as by us all,” said Jeremy Weir, CEO Trafigura. “We owe him an enormous debt of gratitude for a career full of achievement and entrepreneurial endeavour and for his energy, inspirational leadership, generosity of spirit, humility and humour.”

Our deepest condolences go to his wife and children.

His bio from the Trafigura Board web page:

Claude Dauphin has been a leading figure in the global commodities trading industry for more than three decades. He founded Trafigura together with five partners in 1993, and as Chairman and CEO built the company into its current position as one of the world’s three largest independent traders of oil and metals and minerals. In March 2014, he became Trafigura’s Executive Chairman.

Before founding Trafigura, Claude Dauphin worked for Marc Rich AG as Petroleum Division Head and Executive Committee Member (1988-1992), Head of the Lead and Zinc Department and Country Manager in Bolivia (1977-1988). He is the last of Trafigura’s six founding partners to occupy an executive role with the company.