Glencore plc's initial public offering minted six billionaires in 2011, when Ivan Glasenberg and five other executives together controlled stakes worth $24-billion. Today, only three would remain in that elite club - based on the value of their holdings in the company - and two of those are on the brink of losing their status after the shares of the leading commodity trader lost 70% since the flotation.story_article_left1The May 2011 offering generated more wealth than the IPOs of some of Wall Street's most prominent firms, including Goldman Sachs in 1999.Since then, Glencore's share price has fallen every year, a decline that has accelerated in recent months as concern that China's economy is slowing has resulted in commodity prices diving.Glencore dropped 9.7% in London to close at a record low of 158.95p on Wednesday after the company reported a plunge in first-half profit.The shares, which rose 1.4% in early trading in London on Thursday, are down nearly 46% this year.On the JSE this week, Glencore hit a 52-week low touching R32.23. In September last year, it traded at R63.90.Glasenberg, the CEO, remains an undisputed billionaire, but the value of his stake has dropped from $9.4-billion in May 2011 to $2.8-billion now, according to Bloomberg estimates based on public data.Among his colleagues, the stakes controlled by Tor Peterson, head of coal, and Alex Beard, head of oil, are each worth less than $1-billion today.story_article_right2Gary Fegel, the former head of aluminium who left Glencore in 2013, was a billionaire at the time of the IPO based on his stake.Fegel has sold all his Glencore shares since he left and is no longer financially engaged with the trading house, he said in response to a query.Forbes Magazine put his wealth at $1.2-billion early this year. If he had continued to hold his stake in Glencore, it would be worth $385-million today.Daniel Mate, head of zinc, and Telis Mistakidis, head of copper, are just above the billionaire line, with stakes valued at $1.04-billion and $1.03-billion, respectively, down from about $3.6-billion four years ago.If the shares drop another 5%, they will become multimillionaires.Glasenberg and some of his executives have bought more shares over the years, reinvesting their dividends.Glencore declined to comment...