T. Boone Pickens: A Life of Business, Politics, and Giving Back

T. Boone Pickens was a true American original, a man of immense wealth and influence who left an indelible mark on the business world. He was born in 1925 in Holdenville, Oklahoma.

Pickens' business career spanned over five decades, during which he built a vast fortune through his shrewd investments in the oil and gas industry. He founded Mesa Petroleum in 1956, which would eventually become a major player in the energy sector.

One of Pickens' most notable business ventures was his takeover bid for Gulf Oil in 1984, which ultimately failed but earned him widespread recognition as a master of corporate deal-making.

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T. Boone Pickens grew up in Oklahoma, where his modest upbringing instilled in him a strong work ethic.

He earned a penny a paper as a young boy, starting his journey to financial success.

Pickens' early life laid the foundation for his future accomplishments, which would eventually make him a household name.

He turned his remaining investment funds of $3 million into $8 billion in profit in just a few years, a remarkable feat that showcased his business acumen.

This incredible turnaround demonstrated Pickens' ability to take calculated risks and seize opportunities, traits that would serve him well throughout his career.

His financial success allowed him to give back to his alma mater, Oklahoma State University, with a gift that remains the largest donation to a university's athletic program in collegiate history.

T. Boone Pickens was a master of business and investments. He made his first fortune in the oil industry, specifically in the Permian Basin of Texas, which he discovered in the 1950s.

Pickens' success in the oil industry led him to start Mesa Petroleum, which he later took public in 1964. He used the money from the initial public offering to expand his operations and explore new opportunities.

Pickens was known for his shrewd deal-making skills, which he used to acquire and merge companies to increase their value. He also made savvy investments, including in the natural gas industry, which he believed would be a major growth area.

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When it comes to giving back, some individuals truly lead by example. Boone Pickens, a renowned businessman, has pledged to donate over $800 million to charity.

Boone Pickens' commitment to philanthropy is nothing short of remarkable, and his generosity has made a significant impact on various causes.

BP: I’m on record I think it was 1983 or 1984 in Fortune magazine, saying that 90% of my net worth would go to charity.

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T. Boone Pickens was a strong advocate for natural gas as a vehicular fuel alternative. He formed Pickens Fuel Corporation in 1997, which was later reincorporated as Clean Energy Fuels Corporation in 2001.

Pickens Fuel Corporation, now known as Clean Energy Fuels Corporation, owns and operates natural gas fueling stations from British Columbia to the Mexico–U.S. border.

Pickens was confident that natural gas would never sell above diesel and gasoline prices as a fuel for vehicles. He even made a statement to that effect on CNBC in 2007.

However, in 2008, the price of oil briefly closed above $145 per barrel, and by the beginning of September, it had settled to under $110 per barrel. By October 9, 2008, the price plummeted back below $85 per barrel.

Pickens later changed his stance on natural gas, citing the domestic oil and natural gas industries' technical achievements in unlocking shale oil and gas reserves. He called for the construction of more nuclear power plants and the promotion of alternative energy.

In 2008, California voters rejected a referendum on natural gas, which would have provided $5 billion in general fund bonds for alternative energy rebates and incentives. Much of the measure's funding would have benefited Pickens' company, Clean Energy Fuels Corporation.

Boone Pickens was a generous philanthropist who gave away over $2 billion to charitable causes.

He used matching initiatives to double his gifts, which is a clever way to make a bigger impact.

Pickens had a goal to leave 90% of his net worth to charity when he died.

This is a remarkable commitment to giving back, especially considering his last reported net worth was $500 million.

He even challenged two institutions to match his $100 million gift with a $500 million total in 25 years, which they exceeded with ease.

In fact, Pickens was so dedicated to giving that he invited Bill Gates to join his 90% Club, although Gates politely declined.

T. Boone Pickens was a generous philanthropist who gave away more than $700 million to charity. He was among the billionaires who made The Giving Pledge, a commitment to give away half of his wealth for charitable purposes.

Pickens donated nearly $500 million to Oklahoma State University, his alma mater. He also donated $7 million to the Hurricane Katrina relief effort. This donation was made possible by Pickens and his employees at BP Capital LLC.

The Chronicle of Philanthropy listed Pickens as one of its largest charitable givers in 2005 and 2006. He has donated nearly a half a billion dollars to philanthropic causes during his career.

T. Boone Pickens was a significant figure in American politics, having made over $5 million in political donations since 1980. He was a financial supporter of President George W. Bush and contributed heavily to his Texas and national campaigns.

Pickens' support for Bush was evident in his contributions to Republican 527 groups, including a $2 million contribution to the Swift Vets and POWs for Truth. He also contributed $2.5 million to the Progress for America advocacy group in 2004.

Pickens was an executive committee member of the Rudy Giuliani presidential committee and wrote an article for National Review supporting Giuliani's presidential bid in 2007.

T. Boone Pickens was recognized for his outstanding achievements in various fields.

In 1984, he received the Golden Plate Award of the American Academy of Achievement.

This award is a testament to his dedication and hard work.

It's an honor to be recognized by such a prestigious organization.

In 2003, Pickens was inducted into the Oklahoma Hall of Fame, a distinction that highlights his contributions to the state.

This induction is a reflection of his commitment to public service.

In May 2012, Pickens was awarded the Albert Schweitzer Leadership Award by the Hugh O'Brian Youth Leadership Foundation.

This award acknowledges his lifetime of accomplishments and his role as a positive influence on future leaders.

T. Boone Pickens was a significant financial supporter of President George W. Bush, contributing over $5 million to his campaigns since 1980.

Pickens was among 53 entities that contributed the maximum of $250,000 to Bush's second inauguration in 2005.

He also contributed to Republican 527 groups, including a $2 million contribution to the Swift Vets and POWs for Truth in 2004.

In 2004, Pickens contributed $2.5 million to the Progress for America advocacy group.

Pickens wrote an article for National Review in 2007 supporting Rudy Giuliani for president, praising his big-picture vision and proven track record.

As an executive committee member of the Rudy Giuliani presidential committee, Pickens was actively involved in Giuliani's presidential campaign.

Pickens has since shifted his focus to alternative energy, advocating for the use of solar and wind power.

In an editorial, The New York Times noted that Pickens "has decided that drilling for more oil is not the whole answer to the nation's energy problems."

In 2008, California voters rejected a referendum regarding natural gas by a 60% to 40% margin.

Pickens owned Clean Energy Fuels Corporation, a natural gas fueling station company that was the primary backer of the November 2008 Proposition 10 on California's ballot.

Much of the measure's sale of $5 billion in general fund bonds would have benefitted Pickens' company to the exclusion of almost all other clean-vehicle fuels and technology.

The measure also included $9.8 billion after interest for alternative energy rebates and incentives.

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It's easy to imagine an alternate history where the University of Texas at Austin's rival, Texas A&M, became the state's flagship institution instead.

The idea of A&M being the flagship university is not entirely far-fetched, given its strong academic programs and research opportunities.

In fact, A&M's College Station campus is home to over 70,000 students, making it one of the largest universities in the country.

This massive student body would have given A&M a significant advantage in terms of resources and influence, potentially making it the dominant institution in Texas.

However, the reality is that the University of Texas at Austin has a long history of academic excellence and a strong reputation for producing successful graduates.

A&M's strong programs in engineering and agriculture, on the other hand, have made it a leader in those fields.

Despite this, the University of Texas at Austin remains the state's flagship institution, with a wide range of programs and research opportunities.

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T. Boone Pickens had a complex and ever-changing personal life. He was married five times: to Lynn O'Brien, Beatrice "Bea" Carr Stuart, Nelda Cain, Madeleine Paulson, and Toni Chapman Brinker.

Pickens had four biological children and one adopted daughter, Elizabeth "Liz" Cordia, whom he adopted from his second wife.

As of 2007, Pickens had twelve grandchildren, a testament to his large and loving family. His family life was marked by both joy and tragedy, including the loss of his grandson Thomas "Ty" Boone Pickens IV, who died from a heroin overdose in 2013.

Pickens passed away on September 11, 2019, at his home in Dallas, after a series of strokes and a fall in 2017.

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Pickens was known for his ability to inspire others through his words and actions. "If you're not first, you're last", he would often say.

As a successful entrepreneur and businessman, Pickens left a lasting legacy in the oil and gas industry. He founded BP Capital Management in 1996.

Pickens was also a pioneer in the development of wind energy, investing heavily in the sector. He famously stated, "I'd rather bet on America than on OPEC."