William Herbert Hunt Explained

William Herbert Hunt
Birth Date:6 March 1929
Birth Place:El Dorado, Arkansas, U.S.
Death Place:Dallas, Texas, U.S.
Occupation:Heir, owner of 25% of Halcon
Parents:H. L. Hunt
Lyda Bunker
Children:5
Relatives:Margaret Hunt Hill, Nelson Bunker Hunt, Caroline Rose Hunt, and Lamar Hunt (siblings)
Clark Hunt (nephew)

William Herbert Hunt (March 6, 1929 – April 9, 2024) was an American oil billionaire, who along with his brothers Nelson Bunker Hunt and Lamar Hunt[1] tried but failed to corner the world market in silver.[2] According to Forbes, his net worth was estimated at US$5.3 billion.[3]

Early life

William Herbert Hunt was born in 1929 to Lyda Bunker and the oil well wildcatter H. L. Hunt.[3]

Career

In the 1970s Hunt and his brother Nelson Bunker Hunt acquired 195 million ounces of silver, worth nearly $10 billion at the peak. When the price of silver collapsed 80% in 1980 the brothers lost their fortune in the silver trading scandal called Silver Thursday; together they lost a billion dollars.[4] William Herbert Hunt went bankrupt in 1990,[5] but was able to recover years later.[6]

In 2012, Hunt sold a minor portion of Petro-Hunt's assets in the Williston Basin to Halcon Resources[7] for $1.45 billion, lifting his net wealth to an estimated $3 billion. Petro-Hunt continues to operate in the Williston Basin, Permian/Delaware Basins and other basins across the US.[8]

Personal life and death

Hunt lived in Dallas, Texas, and had five children.[3] He died there on April 9, 2024, at the age of 95.[9] He was the last surviving child of H. L. Hunt by the latter's first wife Lyda.

His nephew, Clark Hunt, is chairman and CEO of the National Football League's Kansas City Chiefs.

References

  1. News: Nelson Bunker Hunt, 88, Oil Tycoon With a Texas-Size Presence, Dies . October 22, 2014 . February 26, 2016 . . McFadden . Robert D..
  2. News: Eichenwald . Kurt . 2 Hunts Fined And Banned From Trades . The New York Times . December 21, 1989 . April 13, 2008.
  3. Web site: W. Herbert Hunt . Forbes . April 15, 2024.
  4. News: Nelson Hunt Denies Plotting to Manipulate Silver Market. September 19, 2013. Los Angeles Times. June 2, 1988.
  5. News: Robert Wilonsky. Giddy-up!. September 19, 2013. Dallas Observer. November 30, 1995.
  6. News: 2013-03-28. Hunt Becomes Billionaire on Bakken Oil After Bankruptcy. en. Bloomberg.com. 2021-02-11.
  7. Web site: Energy tycoons on Forbes 400 list. November 13, 2014.
  8. Web site: Nelson Bunker Hunt dead: Former world's richest man dies in 'modest circumstances' in US after losing his fortune. Rupert Cornwall. Independent.co.uk. October 23, 2014.
  9. https://www.dallasnews.com/business/energy/2024/04/14/oil-magnate-herbert-hunt-famous-texas-wildcatter-and-developer-dies-at-95/ Oil magnate Herbert Hunt — famous Texas wildcatter and developer — dies at 95