W. Herbert Hunt, the scion of the Hunt oil dynasty and an oilman with an extensive business and philanthropic footprint in Dallas and Texas, has died at the age of 95.
Following his father's lead, Hunt founded Petro Hunt with his brothers, Nelson Bunker Hunt and Lamar Hunt, and over a 70-year career he became one of the world's most prominent oil magnates and investors. and became wealthy from fossil fuel operations in East Texas. He later worked as a real estate developer.
Mr. Hunt was born on March 6, 1929 and died on April 9, 1929.
After earning a Bachelor of Science degree in geology from Washington and Lee University, Mr. Hunt followed his father, HL, into the oil drilling and speculation business, starting a family business that would produce several billionaires and major corporations. joined.
Forbes estimated W. Herbert's Hunt's net worth at $5.3 billion in 2024, mostly from his large oil field holdings and operations in Texas, Oklahoma and North Dakota. This is due to his ownership of the Petrohunt Company.
Hunt used his oil fortune to expand into land purchases outside of the energy industry, including large-scale developments that included large residential and industrial projects that formed cities such as Richardson, Plano, Forney, and Fate. has been expanded.
Mr. Hunt and his brothers, Nelson Bunker and Mr. Lamar, came close to bankruptcy in the early 1980s after trying to corner the silver market with billions of dollars in holdings as the commodity prices soared the previous year. Ta. At one time, it reportedly held more than a third of the world's private silver holdings, worth $4.5 billion. However, after borrowing millions of dollars for betting funds, the price fell by more than 50%, leading to a loss of $1.7 billion. They were saved by a loan, but bad investments took a toll on the Hunt family fortune, and the brothers were forced to declare bankruptcy in 1988.
The Hunt family survived the incident and rebuilt their wealth in oil, real estate, and finance.
The Hunt family was one of the most successful oil dynasties in the country, and HL Hunt's 15 children became major players in several fields.
Herbert Hunt's oldest sister was Margaret Hunt Hill, the namesake of Dallas' iconic bridge. Another sister, Caroline Rose Hunt, is the founder of Rosewood Hotels & Resorts. His half-brother Ray Lee Hunt was another Dallas energy billionaire, and his half-sister Swanee served as the U.S. ambassador to Austria.
Clark Hunt, nephew of Herbert Hunt, is the owner and chairman of the NFL's Kansas City Chiefs, and his family has owned and developed thousands of acres of residential and industrial land throughout North Texas. Lamar, Herbert's younger brother and Clark's father, was one of the pioneers of professional football in the United States, and he was also the founder of the American Football League, which later merged with the NFL to form the modern sports league.
Herbert Hunt is survived by his wife Nancy and children Doug, Barbara Hunt Crowe, Libby Allred, Bruce and David.
Services are scheduled for April 23 at 3 p.m. at Highland Park Presbyterian Church.
