T. Boone Pickens Net Worth, T. Boone Pickens Net Worth: T. Boone Pickens is an American business magnate and financier who has a net worth of $950 million. Though T. Boone Pickens amassed his fortune through the acquisition and resale of oil companies, he has recently become an outspoken advocate for the use of alternative energy sources.
Born Thomas Boone Pickens, Jr. on May 22, 1928, in Holdenville, Oklahoma, US, he chairs the hedge fund BP Capital Management. Once a boy who expanded his paper delivery route from 28 to 156 deliveries, now he is old wise man known for acquiring and expanding businesses.
The late 1930s saw the Pickens family move from Oklahoma to Amarillo, Texas. It was in 1951 that T. Boone graduated with a degree in geology and soon got a job at Philips Petroleum. Three years he left the company to work with exploratory well digging, and he founded Mesa Petroleum in 1956. Under Pickens’ watchful eye, Mesa grew quickly and eventually became one of the largest independent oil companies in the world.
Meanwhile, he acquired other mostly bigger companies like Hugoton Production Company, Gulf Oil, Philips Petroleum, and Diamond Shamrock, becoming well known for his ruthless attempts at acquiring new companies. In 1989, he moved to Dallas where he set up BP Captial Management eight years later. Pickens established another company called the Pickens Fuel Corp. in 1997 in order to promote the use of natural gas for automobiles.
The company was renamed Clean Energy in 2001, and six years later, Pickens first started warning the public against high oil prices. In June 2007, he started promoting the world’s largest wind farm that would produce up to four gigawatts of electricity. Only one year later, he came up with a bigger proposal, The Pickens Plan, meant to reinvent US energy resources by promoting oil-alternatives such as natural gas, wind power, and solar energy.
In the course of his career, Pickens has been generous contributor to various charities and Universities including Oklahoma State University, The University of Texas, as well as relief efforts for Hurricane Katrina, and various other programs supporting the well-being of families, children, teenagers and animals.