Vitol: the secretive trading giant minting fortunes for its employees

The commodity house is among world’s most profitable companies and has returned $20 billion to senior staff over past three years. Across two floors of an unremarkable office block tucked between Buckingham Palace and London’s gritty Victoria coach station sits one of the most profitable but least known companies in the world. Commodity trader Vitol has made annual net profits averaging more than $12 billion over the past three years, representing approximately $6 million per employee, and returned nearly $20 billion through its share scheme to its almost 600 most senior staff. The bumper payouts for employee-shareholders follow a period of sky-high returns after Vitol capitalised better than competitors on disruptions in energy markets that started with the Covid pandemic in 2020 and continued with Russia’s full-scale invasion of Ukraine in February 2022. The privately held group does not publish its results but accounts filed by Vitol’s holding company in Luxembourg show its ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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