Glencore priced its IPO on Wednesday at a level to give it a valuation of $48 billion-$58 billion, shy of the average forecast of $62 billion provided by the banks underwriting it.
Following the issue of $7.9 billion of new shares, the enlarged company will have a market value of $61 billion at the midpoint of the IPO range.
Mr Glasenberg will have a stake of 15.8% of the enlarged company, worth $9.6 billion at the IPO midpoint.
The publicity-shy South African, who joined the firm in 1984 as a trainee in Johannesburg and rose through the ranks, embodies the shrewd qualities that have made Glencore's traders famous.
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