Recently, T. Boone Pickens, 91 was reported to have departed. He was the CEO of BP Capital and a renowned industry energy entrepreneur who built an empire out of an initial $2,500 investment.
T. Boone’s longtime spokesman Jay Rosser indicated that the Oklahoma-born tycoon, known for his folksy speech and ruthless business acumen, died surrounded by his family and friends.
Rosser added, “He was coming into the office every day until Monday.”
Lastly, “He stayed active, running his portfolio.”
In late 2016, Pickens ended his BP Capital energy hedge fund after suffering a stroke. Moreover, it is due to the causes of a fall in mid-2017 that needed hospitalization.
Eighteen months ago, on his boonepickens.com website, Pickens wrote to declare the closure of the fund.
He stated, “Trading oil is not as intriguing to me as it once was,” “It’s no secret the past year has not been good to me, from a health perspective or a financial one.”
Pickens was considered for his contributions to advances in medical research, athletic, and educational initiatives.
In addition, he is advocating for increased domestic use of bountiful natural gas.
Meanwhile, former U.S. President George W. Bush said, “He generously shared his success with institutions and communities across Texas and Oklahoma.”
Texas Governor Greg Abbott also indicated “Will have a lasting impact on the state of Texas, and the United States of America,” referring to Pickens’ commitment to energy projects.
T. Boone Pickens’ Other Investments
In late 2017, Pickens had placed his 65,000-acre (26,000-hectare) Mesa Vista Ranch in the Texas Panhandle up for sale. It is at a price of $250 million.
In fact, it is a castle-like main building. The ranch also had its airfield, art gallery, pub, chapel, and two-story dog kennel.
Pickens managed energy firms, hedge funds, and wind farms that are proposing projections on oil prices.
In 2008, when his wealth was valued at $3 billion by Forbes magazine, he then revealed the Pickens Plan for an energy independent in the United States.
Moreover, he promoted the strategy in television ads and interviews. T. Boone also testified regarding it before congress.
He has complained reliance on foreign oil and pushed the potential of wind energy.
Aspirations of The World’s Biggest Wind Farm
Pickens had ambitions of creating the world’s biggest wind farm in the Panhandle. It was with the potential of powering 1.3 million homes at the cost of $10 billion.
However, in the year of 2010, he had given up on a big-scale wind farm as a result of struggles with financing and a lack of transmission lines.
In the 1980s, Pickens achieved a bad reputation after a consummate dealmaker launched daring bids.
It is to take over giant oil companies involving his previous employer Phillips Petroleum Co, as well as Gulf Oil Corp and Unocal Corp with leveraged acquisitions.
The renowned entrepreneur also upset corporate Japan. This was when he tried to take over Koito Manufacturing Co Ltd, a Tokyo-based automotive parts maker.
He then became the most prominent single shareowner in the company with a standing of 20.2%. This is about 1% higher than Toyota Motor Corp.
In 2005, Pickens donated hundreds of millions of dollars to Oklahoma State University. The school then renamed its football stadium for him.
He has also set up a foundation that bears his name, which made major contributions to medical institutions in Texas.
COMMENTS