|Date of Birth:
|May 22, 1928 - September 11, 2019 (91 years old)
|Entrepreneur, Businessperson, Investor, Financier
|United States of America
What is T. Boone Pickens’s net worth? How does T. Boone Pickens make his money? Below is the current net worth of T. Boone Pickens and how T. Boone Pickens makes his money.
What is T. Boone Pickens’s Net Worth?
T. Boone Pickens was an American business mogul and capitalist who had a net worth of $950 million at the time of his death in 2019. T. Boone Pickens made his money by buying and selling oil firms, and in the final years of his life, he spoke avowedly in favor of the use of alternative energy sources.
In 1956, he established Mesa Petroleum. Mesa expanded rapidly under Pickens’ close supervision and eventually rose to rank among the largest independent oil firms in the world. During this time, he also bought a number of other, mainly larger businesses, including Hugoton Production Company, Gulf Oil, Philips Petroleum, and Diamond Shamrock.
He relocated to Dallas in 1989, and eight years later founded BP Capital Management. Pickens founded the Pickens Fuel Corp. in 1997 to advance the use of natural gas in automobiles.
After changing the company’s name to Clean Energy in 2001, Pickens began educating the public about the dangers of rising oil prices six years later. He began marketing the largest wind farm in the world—capable of producing up to four gigawatts—in June 2007.
Pickens gave generously to a number of organizations and universities, including Oklahoma State University and The University of Texas, as well as to Hurricane Katrina relief operations and numerous other initiatives promoting the welfare of families, kids, teenagers, and animals.
Thomas Boone Pickens Jr. was born on 22 May 1928 in Holdenville, Oklahoma. As a newspaper delivery boy when he was 12 years old, he got his start in the workforce. Around the turn of the century, the Pickens family moved to Amarillo, Texas.
Pickens received a basketball scholarship to attend Texas A&M University for his higher education, but after being let go from the team, he forfeited that scholarship.
Afterward, he changed schools and enrolled in Oklahoma A&M University, which was eventually renamed Oklahoma State University. He earned a geology degree from the aforementioned university in 1951.
Pickens had a long stint at the Phillips Petroleum Company subsequently after receiving his degree from college. He created Mesa Petroleum two years after quitting that business. Over the years, Mesa experienced an upward trend and by the early 1980s, it had become one of the world’s biggest independent oil businesses.
A few of Pickens’ more well-known transactions included his attempts to acquire Cities Service, Unocal, and Phillips Petroleum. He gained national renown as a corporate raider in the meantime thanks to his successful acquisitions of Pioneer Petroleum, Tenneco, and particularly Gulf Oil.
Pickens and Mesa relocated to a suburb of Dallas in 1989. As soon as the business plummeted drastically it was sold to financier Richard Rainwater in 1996. Pickens was then ejected from Mesa by Rainwater’s wife Darla Moore. Pioneer Natural Resources was created in 1997 as a result of the company’s merger with Parker & Parsley Petroleum.
Pickens established BP Capital Management as a hedge fund after leaving Mesa. Due to his failing health, he had to close the business in 2018. Also established by Pickens was the Pickens Fuel Corporation, which was reorganized as the Clean Energy Fuels Corporation in 2001.
Throughout his professional life, Pickens participated in politics frequently, primarily on the Republican side. He generously contributed to George W. Bush’s campaigns in Texas and across the country.
Famously, Pickens made contributions to the “Swift Boat” challenge, which involved an offer of $1 million to anyone who could refute the allegations made by the Swift Vets and POWs for Truth against John Kerry in their political attack commercials.
Personal Life and Demise
Pickens went through five separate marriages and divorces.
After several years of deteriorating health, Pickens passed away in Dallas on 11 September 2019. At the time of his demise, he was 91 years.
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