Birthdays. Saudi Arabia's $2 Trillion Push to End Oil Dependency. Nelson Bunker Hunt - obituary. [4], Hunt mentored Zahid Bashir, former spokesman and press secretary to the Pakistani Prime Minister, in oil trading. [8] He was chairman of Hunt Exploration and Mining Company (HEMCO). Share with your friends. I mean, how many people reach the literal pinnacle of wealth while battling global dictators, only to lose it all on one really really really bad gamble? Much of their investment was made with borrowed money. In 1938, his father moved the family into a Dallas mansion that was a … That's equal to $20 billion today. Hunt who was one of the earliest people to discover oil in East Texas. [11] The largest single-day drop in the price of silver occurred on "Silver Thursday". Herbert sold his Montana investments in 2012 for $1.5 billion and today is worth $3 billion. Topics. During the mid-1980s, he contributed almost half a million U.S. dollars to The National Endowment for the Preservation of Liberty (NEPL),[13][14] a conservative fundraising organization later heavily implicated in the Iran–Contra affair. There he struck black gold on an enormous scale. [15] Hunt was past Chairman of the Board of the Bible Society of Texas and the past Chairman of, and significant contributor to Campus Crusade for Christ International's "Here's Life" Campaign (1976–1980),[16][17] as well as providing a $3.5 million loan guarantee for the 1979 Campus Crusade film Jesus. Known as Bunker Hunt, he was once one of the world’s wealthiest men, worth an estimated $16 billion. Nelson Bunker Hunt. People who know how much they're worth aren't usually worth that much. Logout. Hunt was born near Ramsey, in Carson Township, Fayette County, Illinois, the youngest of eight children. Similar scenarios must play out thousands of times a day at hospitals across the United States. With the count at 0 and 2, in 1961 Nelson jumped from the Middle East to Africa and made a large bet in Libya. [18], In 1955, Hunt bought his first thoroughbreds and by the 1970s his breeding program had become one of the world's largest and most productive. [2] This fine was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period. Sergio Busquets Net Worth. He was the second son of legendary Texas oilman H.L. A man you've probably never heard of died October 21, 2014 in Texas at the age of 88. Lawsuits flew over the next several years and eventually a Texas court ordered the brothers to pay hundreds of millions of dollars in restitution to a variety of creditors. Nelson Bunker Hunt and Herbert were billlionare brothers who's attempt to corner the silver market was stopped in it's tracks. Jean Paul Getty had been the richest person in the world, until his death in 1976. Januar 1889; 6. Throughout all the good times, Nelson always traveled economy on planes and used public transportation in every city he visited. H.L. from the archives - piece on Nelson Bunker Hunt and Silver Thursday from 1980 At first the strategy seemed brilliant. Nelson Bunker Hunt was born Feb. 22, 1926, in El Dorado, Ark., and grew up in Tyler, Tex. "People who know how much they're worth..." - Nelson Bunker Hunt quotes from BrainyQuote.com "People who know how much they're worth aren't usually worth that much." [2], In September 1988 the Hunt brothers filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code largely due to lawsuits incurred as a result of their silver speculation. Quotations by Nelson Bunker Hunt, American Businessman, Born February 22, 1926. The third investment turned out differently. Die Hunts waren seinerzeit eine der wohlhabendsten Familien der Vereinigten Staaten. That's equal to $8-11 billion after adjusting for inflation. Unfortunately, Nelson's fortunes never really turned around. Home; Authors; Topics; Quote Of The Day; Pictures; Sign Up. Hunt was educated at home. He was by no means a defeated man, more like a man with a really good life story to tell. Muammar Gaddafi quickly seized control of all of the Hunt International Petroleum's assets and nationalized the Sarir deposits. Sure, back in 1980, Bunker, his younger brother Herbert, and other members of the Hunt clan owned roughly two-thirds of all the privately held silver on earth. The money that was raised from the liquidation went to pay down tens of millions worth of fines, and IRS debt. Nelson Bunker Hunt, the Texan oil tycoon who tried to corner the silver market in the 1970s and went spectacularly bust, had a wonderful way with words, says The Daily Telegraph. [citation needed], Beginning in the early 1970s, Hunt and his brothers William Herbert and Lamar began accumulating large amounts of silver. By 1980, with silver still going strong, the brothers' position was worth $7 billion. He lived most of his remaining years modestly at a small home in Dallas. George Steinbrenner Net Worth. Personal. My Account Help: Add the "Dynamic Daily Quotation" to Your Site or Blog - it's Easy! George Michael Steinbrenner III was born on the 4th July 1930, in Rocky River, Ohio USA of Irish and German ancestry, and died on the 13th July 2010 in Tampa,… Read More » Husbands/Wifes of Married Wiki. Other articles where Hunt, Nelson Bunker is discussed: Silver Thursday: …of reigning monarchs and despots, Nelson Bunker Hunt (1926–2014) was the richest man in the world at the start of the 1960s. For at least the past several weeks this has been garnering widespread publicity. Top 100 Quotes. A 1988 dispersal sale of 580 horses at Keeneland Sales brought in $46,911,800, at that time the highest amount in the history of thoroughbred auctions. The silver bubble exploded and by the end of the day, their $7 billion dollar position turned into a $1.7 billion debt. Although, Lamar was able to hold on to the Chiefs. The ad read "We think it is unconscionable for anyone to hoard several billion, yes billion, dollars' worth of silver and thus drive the price up so high that others must pay artificially high prices for articles made of silver". He wound up discovering the Sarir oil deposits which to this day is the largest oil field in North Africa. Saudi Arabia was a desolate little Kingdom with basically no naturally resources or wealth whatsoever. Market Crisis [2], Nelson Bunker Hunt was active in conservative political causes[12] and was a member of the Council of the John Birch Society. Nelson Bunker Hunt was born on February 22, 1926 in El Dorado, Arkansas. The Sarir oil fields made Nelson enormously wealthy. He was married to Caroline Lewis Hunt of Ruston, Louisiana for 63 years until his death, and they had four children together. He was also a thoroughbred horse breeder. Winner of the U.S. Eclipse Award for Outstanding Breeder in 1976, 1985, and 1987, he owned the 8,000-acre (3,200 ha) Bluegrass Farm in Lexington, Kentucky, and raced thoroughbreds in Europe and North America. Imagine How Rich You'd Be If You Bought All Of Saudi Arabia's Oil Exploration Rights Back In 1949. Nelson Bunker Hunt, who died this week, made and lost billions of dollars. Bunker Hunt was a jovial 275-pound eccentric who looked a bit like the actor Burl Ives. Until the very end, Nelson Bunker Hunt's life was rarely boring. When two of her brothers, Nelson Bunker Hunt and Herbert Hunt, went down for the financial count after disastrous misadventures in silver, sugar and oil, Caroline Hunt was still standing Texas tall. Maybe even tens of thousands of times. By 1970, although his wealth was accumulating faster than he could spend it,… Edward Norton. Poor health eventually forced him into an assisted living center, where he died at the age of 88. The Royal Family With More Than A Trillion-Dollar Net Worth, Saudi King Abdullah Dead At 90 – Throne And $18 Billion Net Worth Up For Grabs, How One Family Ended Up Owning The Largest Supply Of Oil In The World – And Earned TRILLIONS In The Process, Saudi Arabia Looks to Foreign Banks, Not Oil, for Financial Help. [19] Overall, Hunt bred 158 stakes winners and either bred or owned 25 champions. Among his horses, Hunt bred or raced Vaguely Noble, Dahlia, Empery, Youth, Exceller, Trillion, Glorious Song, Dahar and Estrapade. Imagine what we would be writing today if that silver gamble actually paid off??!! He went on to invest in Montana's oil fields. In the 1970s, Lamar, Nelson and their other brother William Herbert, also became heavily involved with a new investment: Silver. Silver prices ultimately collapsed to below $11 an ounce two months later. Should Trump Ban Importing Oil from Saudi Arabia? [6] In October 2014, Hunt died at the age of 88. Site. Enjoy the best Nelson Bunker Hunt Quotes at BrainyQuote. Nelson Bunker Hunt was born in 1926, in El Dorado, Arkansas, the second son of legendary Texas wildcatter H.L. He was a billionaire whose fortune collapsed after he and his brothers William Herbert and Lamar Hunt[1] tried to corner the world market in silver but were prevented by government intervention. © 2020 Celebrity Net Worth / All Rights Reserved, © 2015 Celebrity Net Worth / All Rights Reserved. The man died at a modest assisted-living center outside of Dallas, where nurses were treating him for dementia and cancer. One girl died in infancy. William Herbert Hunt is an American oil billionaire, who along with his brothers Nelson Bunker Hunt and Lamar Hunt tried but failed to corner the world market in silver. Hunt was also an extremely successful procreator. [2], In 1989, in a settlement with the CFTC, Nelson Bunker Hunt was fined $10 million and banned from trading in the commodity markets as a result of civil charges of conspiring to manipulate the silver market. Following in Getty's footsteps, Nelson Hunt also tried to strike it rich in the Middle East. He's been dead about 7 years but his foundation still gives $2 million to $3 million a year to family resource centers at the poorer elementary schools in town. Pictures. Login. The bonanza came to an abrupt halt when a little known future-dictator named Muammar Gaddafi came to power in 1973. Nelson Bunker Hunt People who know how much they're worth aren't usually worth that much. He had cancer and dementia.[1]. But the person who died had a very unique life story. [9] In the last nine months of 1979, the brothers profited by an estimated US$2-4 billion in silver speculation, with estimated silver holdings of 100 million troy ounces (3,100 t). His estate, which was valued at $150 million, was completely liquidated. What Happened To J. Paul Getty's Empire And Fortune After His Death In 1976? Here is his exact response: "I don't have the figures in my head. It was said that after his cotton plantation was floode… His brother William Herbert Hunt made a similar settlement. The family moved to Dallas when Nelson was very young. My Account. Rupert Jee Net Worth. 0 422 . Hunt sources claim Nelson Bunker came through for the FBI, and that the information helped foil a plot against Golda Meir when she visited New York in March of 1973. [3], The United States National Thoroughbred Racing Association (NTRA) awarded Hunt the title of "legendary owner-breeder". At this point,the financial press officially crowned Nelson Bunker Hunt the richest person on the planet with a personal fortune of $3-4 billion. The Hunt specimen came from the collection of Captain E.G. Professions. In September 1988, Nelson Bunker Hunt, once the richest person in the world, was forced to file for bankruptcy. [1][2][3][4][5] Die texanische Familie Hunt war eine führende Größe im Ölgeschäft und besaß große Ölfelder, unter anderem in Libyen. Nelson's father would go on to have 15 children by three different wives. Nelson had developed a passion for horses and at one time owned over 1000 of various breeds that won many prestigious races. That's What J. Paul Getty Did…. I realize this news alone wouldn't normally be worthy of an article on Celebrity Net Worth. Nelson Bunker Hunt (February 22, 1926 – October 21, 2014) was an American oil company executive. As part of the bankruptcy filing, Nelson was also forced to sell off 580 thoroughbred horses which were kept at stables around the world. He was named after his father, Haroldson Lafayette Hunt, who was a prosperous farmer-entrepreneur; his mother was Ella Rose (Myers) Hunt. But after four years of painstaking work, Getty struck the motherload. The Hunts, who have owned the Chiefs since Lamar Hunt founded the team six decades ago, are one of America’s richest families, worth an estimated $15.3 billion. [2] He was also a thoroughbred horse breeder. He has a net worth of $8.6 billion, according to the Bloomberg ranking. Submit a correction suggestion and help us fix it! Rufus Sewell Net Worth. as of 12/2/20. Billionaire's Titan Resources Signs Oil Accord, The Accidental Hunt Brothers: How Institutional Investors Are Driving Up Food And Energy Prices, "Final Report of the Independent Counsel for Iran/Contra Matters", "Investigators Say Group Raised $2 Million for Contra Arms Aid", https://en.wikipedia.org/w/index.php?title=Nelson_Bunker_Hunt&oldid=991387634, American businesspeople in the oil industry, Articles with unsourced statements from April 2008, Wikipedia articles with SNAC-ID identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 29 November 2020, at 20:05. Nelson was also banned from ever trading commodities again in his lifetime. After all, how many people who die on a given day have the distinction of at one point being the richest person in the world??? [4] He was the son of Lyda Bunker and oil tycoon H. L. Hunt, who set up Placid Oil, once one of the biggest independent oil companies,[5] He had six siblings: Margaret Hunt Hill (1915–2007), H. L. Hunt III (1917–2005), Caroline Rose Hunt (1923–2018), Lyda Bunker Hunt (born and died in 1925), William Herbert Hunt (born 1929), and Lamar Hunt (1932–2006). Saudi Arabia became the unimaginably wealthy Kingdom that we all know today and Jean Paul Getty became the wealthiest person on the planet. Nelson's brother W. Herbert Hunt eventually had an amazing reversal of fortunes. The Dallas Morning News reported that Hunt died at an assisted-living center in Dallas suffering from dementia and cancer. He was one of the main sponsors of the conservative organization Western Goals Foundation, founded in 1979 by General John K. Singlaub, journalist John Rees, and Democratic Congressman from Georgia Larry McDonald. Herbert was not quite as devastated by Silver Thursday or the ensuring legal problems. [3] In 1999, he returned to thoroughbred ownership, spending a total of $2,075,000 on 51 juveniles and yearlings. This Nelson Bunker Hunt and William Herbert Hunt Collections offers an unparalleled examine of the art, attitudes and aspirations of classical antiquity- an age far removed from that of our own, but one that still impresses itself strongly upon ours, socially and culturally. Its Hunt Oil division has operations in Peru, Iraq and Yemen. Heather Mills Net Worth. He had a reputation as a math prodigy and was a gambler. As a teenager, Hunt traveled to various places before settling in Arkansas, where he was running a cotton plantation by 1912. At a congressional hearing that was called to examine the collapse of Silver, Nelson was asked about his personal net worth. DALLAS—Nelson Bunker Hunt, perhaps the only billionaire on the east side of this town, turned 50 last weekend. At their peak, they controlled 1/3 of the world's silver. Until his dying day in 2014, Nelson Bunker Hunt, who had once been the world’s wealthiest man, denied that he and his brother plotted to corner the global silver market. [7] This nationalization later resulted in the House of Lords decision in BP Exploration Co (Libya) v Hunt (No 2) [1983] 2 AC 352. Spencer-Churchill (1876-1964), a cousin of Winston. He was a billionaire whose fortune collapsed after he and his brothers William Herbert and Lamar Hunt tried to corner the world market in silver but were prevented by government intervention. At first it was just a small hedge, but by 1979, the brothers were literally attempting to corner the world's entire silver market. [10], Primarily because of the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. The brothers began amassing an enormous position in silver future contracts and physical silver bars and coins. Several exchanges called in margins that the brothers could not meet. In 1979 alone, the price of silver rose from $6 to an all-time high of $48.70. On March 27, 1980, a day that is now known as "Silver Thursday", the market collapsed. Like his father, the legendary oilman H. L. Hunt, Bunker gambled big and got lucky. [2] In February 1985 the Hunt brothers were charged "with manipulating and attempting to manipulate the prices of silver futures contracts and silver bullion during 1979 and 1980" by the United States Commodity Futures Trading Commission (CFTC). Mai 1955). Even crazier, how many people who die on a given day can say that they lost billions of dollars and were left bankrupt by one bad bet? Authors. Just like dad, Nelson dreamed of striking it rich in oil. They own oil … Nelson Bunker Hunt was a billionaire oilman who owned 1,000 racehorses but was undone when he tried to corner the world silver market, even having to sell a $20 teapot Out of all of the Hunt children, Nelson was most like his father. Nelson Bunker Hunt (February 22, 1926 – October 21, 2014) was an American oil company executive. In 1961 Bunker acquired the rights to an oil field in Libya that turned out to contain most of that country’s oil. Hunt played a significant role in the discovery and development of the oil fields in Libya, the more established oil enterprises' stake of which were nationalized by Muammar Gaddafi in 1973. Oct 21 (Reuters) - Nelson Bunker Hunt, the Texas oilman once considered the world's richest man before his fortunes were undone by Muammar Gaddafi and his own epic overreaching in the silver market, died on Tuesday at age 88. At the time he said, "At my age, I don't plan to do any breeding or buy a farm, I just want to have some fun and try to get lucky racing. $1.6B. According to Forbes, as of January 2015 his net worth is estimated at $2.0 billion. Hunt war eines der sieben Kinder des Öl-Milliardärs H. L. Hunt aus dessen erster 1914 geschlossener Ehe mit Lyda Bunker (* 26. In order to pay of their debts, they were forced to sell off most of the family's remaining assets. Nelson Bunker Hunt war ein US-amerikanischer Unternehmer und Spekulant. He’s not alone among the mega-rich, brought low by a combination of avarice, bad timing, and bad luck. If you'll recall from this article, prior to 1949 (the year Getty made his Saudi investment) 95% of all the oil in the world had been found in the United States. [20], Hunt's bankruptcy forced him to liquidate his thoroughbred operations. By 1979, they had nearly cornered the global market. Nelson Bunker Hunt was born in El Dorado, Ark., one of seven children of Haroldson Lafayette Hunt Jr. and Lyda Bunker Hunt. "[19], Chapter 11 of the Federal Bankruptcy Code, "Nelson Bunker Hunt, 88, Oil Tycoon With a Texas-Size Presence, Dies", Legacies of the Turf: A Century of Great Thoroughbred Breeders, "One of the richest men in the world endured bankruptcy, but one investment brought eternal rewards | God Reports", "Ethiopia, U.S. His father was an extremely successful oil tycoon named H.L. The discovery produced billions of dollars of revenue for Hunt International Petroleum for over a decade. Lamar Hunt's family still owns the Chiefs today. [3], In 1973 and 1974, Hunt was the British flat racing Champion Owner and in 1976 won The Derby with Empery. A billion dollars ai n't what it used to be. `` 1/3 of the Hunt specimen came from collection! In Peru, Iraq and Yemen to the Bloomberg ranking and physical silver bars and.. 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Contain most of the Hunt children, Nelson was also banned from ever commodities... To Caroline Lewis Hunt of Ruston, Louisiana for 63 years until his death in 1976, 1926 here his... Now known as `` silver Thursday '' took out an ad in the world until! Dollars of revenue for Hunt International Petroleum 's assets and nationalized the deposits! Sarir deposits peak, they were forced to file for bankruptcy named Muammar Gaddafi quickly seized control of all the! Won many prestigious races transportation in every city he visited Hunt the title of `` legendary ''... To Your Site or Blog - it 's tracks age of 88 and was a … Nelson Hunt. Of this town, turned 50 nelson bunker hunt net worth weekend ; Sign Up Ramsey, in El Dorado Arkansas., and IRS debt Empire and Fortune after his death, and they had cornered! Rich You 'd be if You Bought all of saudi Arabia 's $ 2 Trillion Push to end Dependency... This has been garnering widespread publicity on an enormous scale legendary Texas oilman H.L winners and either bred or 25. Bad timing, and IRS debt alone, the youngest of eight children had developed a passion for and! And dementia. [ 1 ] it 's tracks 63 years until his death and. 1.5 billion and today is worth $ 3 billion today is worth $ billion! Months later fix it 1988, Nelson decided to try his luck overseas ] he was once of!
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