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T. Boone Pickens Net Worth

Emmy Wallin

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T. Boone Pickens Net Worth

What is T. Boone Pickens’ net worth? 

Net Worth:$950 Million
Age:91
Born:May 22, 1928 - September 11, 2019
Country of Origin:United States of America
Source of Wealth:Business Magnate
Last Updated:2021

Introduction 

T. Boone Pickens was an American business magnate and financier.

Pickens chaired the hedge fund BP Capital Management. He was a well-known takeover operator and corporate raider during the 1980s. In 2016, Pickens had a net worth of $500 million.

As of 2021, T. Boone Pickens’ net worth is estimated to be roughly $950 million. 

 

Early Life 

Thomas Boone Pickens was born on the 22nd of May, 1929, in Oklahoma. Pickens is the son of Thomas Boone Sibley Pickens.

His father worked as an oil and mineral landman. He was the first child born via Caesarean section in history. 

His great-great-grandfather was politician Ezekiel Pickens. When he was 12 years old, he delivered newspapers.

He later cited his boyhood job as an early introduction to “expanding quickly by acquisition.” 

 

Career 

In 1981, Mesa had grown into one of the largest independent oil companies. Pickens led the companies first major acquisition, a takeover of the Hugoton Production Company, which was 30 times the size of Mesa.

His most publicized deals included attempted buyouts of Cities Service, Gulf Oil, Phillips Petroleum, and Unocal. He also led two Mesa successful acquisitions of Pioneer Petroleum and the mid-continent assets of Tenneco.

Pickens chaired the Board of Regents of West Texas State University. He also organized a campaign in the mid-1980s against the Amarillo Globe-News newspaper. 

In 1997, he founded BP Capital Management. A few years later, he earned $990 million from his equity in the two funds and $120 million from his share of the 20% fees applied to fund profits.

Pickens received The Franklin Institute “Bower” Award in 2009 for Business Leadership for 50 years of visionary leadership in oil and other types of energy production. 

As of 2021, T. Boone Pickens’ net worth is estimated to be roughly $950 million. 

 

How Did T. Boone Pickens Spend His Money?

T. Boone Pickens spent his money on private jets and charity work. 

 

T. Boone Pickens Purchases

 In 2018, he sold his Gulfstream 550 Private Jet and listed his 68,000-acre ranch in Texas for sale for $250 million.

 

T. Boone Pickens Charity Work 

Pickens gave more than $1 billion to various charities, half of which went to his alma mater Oklahoma State University. As of this writing, his donations to Oklahoma State top $625 million. 

 

Highlights

Here are some of the best highlights of T.Boone Pickens’ career:

  • Chaired the hedge fund BP Capital Managemen
  • First Billion is the Hardest (Autobiography, 2008) 

 

Favorite Quotes from T. Boone Pickens 

“I don’t go cheap on anything, but I’m not a shopper. If I want something, I look at it, decide what it is, but it will usually be the best product. I’ve got a pair of loafers that I still wear that I got in 1957.” – T. Boone Pickens

“Be willing to make decisions. That’s the most important quality in a good leader. Don’t fall victim to what I call the ‘ready-aim-aim-aim-aim syndrome.’ You must be willing to fire.” – T. Boone Pickens

“Keep things informal. Talking is the natural way to do business. Writing is great for keeping records and putting down details, but talk generates ideas. Great things come from our luncheon meetings which consist of a sandwich, a cup of soup, and a good idea or two. No martinis.” – T. Boone Pickens

“I don’t like stock buybacks. I think if a company has the money to buy their stock back, then they should take that and increase the dividends. Send it back to the stockholder. Let them invest their money again from the dividends.” – T. Boone Pickens

“I know what people say, that water’s a lot like air. Do you charge for air? Well, of course not. Well, you shouldn’t charge for water. Okay, watch what happens you won’t have any water” – T. Boone Pickens

“I do believe that oil production globally has peaked at 85 million barrels. And I’ve been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.” – T. Boone Pickens

 

3 Motivational Lessons from T. Boone Pickens 

Now that you know all about T.Boone Pickens’ net worth and how he achieved success; let’s take a look at some of the lessons we can learn from him: 

 

1. Work Hours 

Work eight hours and sleep eight hours and make sure that they are not the same hours.

 

2. The Highest Level 

You want to compete, and you want to compete at the highest level.

 

3. Oil 

If you don’t have a refinery operating, it’s hard to use available oil.

 

Summary   

T. Boone Pickens was an American business magnate who had a net worth of $950 million at the time of his death.

Pickens has been known for making huge donations to different charities. 

He gave away well over $1 billion while alive and was a member of The Giving Pledge.

As of 2021, T. Boone Pickens’ net worth is estimated to be roughly $950 million. 

What do you think about T. Boone Pickens’ net worth? Leave a comment below. 

Emmy Wallin is a writer for Wealthy Gorilla. She is a young Swedish girl from Uppsala, who is currently traveling around the world. Emmy has a big passion for helping others and motivating people. Emmy has been studying celebrities careers, biographies, lifestyles, and net worths for over 3 years. She is the face behind the net worth profiles here on Wealthy Gorilla.

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