T. Boone Pickens
American financier; Chairman, BP Capital Management
T. Boone Pickens
Thomas Boone Pickens, Jr., known as T. Boone Pickens, is an American business magnate and financier. Pickens chairs the hedge fund BP Capital Management. He was a well-known takeover operator and corporate raider during the 1980s. With an estimated current net worth of about $1.4 billion, he is ranked by Forbes as the 328th-richest person in America and ranked 879th in the world.
T. Boone Pickens's personal information overview.
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News abour T. Boone Pickens from around the web
Chef Sues Dude Ranch Owner Who He Says Asked For 'Black People Food'
Huffington Post - about 2 months
Chef Armand Appling claims his former boss Madeleine Pickens asked him to make “black people food” in a lawsuit accusing the luxury resort owner of racial discrimination. The African-American cook says he was fired in 2014 for complaining about a hostile work environment after witnessing numerous discriminatory incidents at his workplace. He filed the federal lawsuit against Pickens, who is white, in February. Appling claims Pickens instructed him not to cook “white people food,” allegedly saying guests of the Mustang Monument Wild Horse Eco-Resort, her high-end dude ranch in northeastern Nevada, would rather eat fried chicken, barbecue ribs and corn bread, The Associated Press reported. Pickens, 69, is a philanthropist and the ex-wife of Oklahoma billionaire energy investor T. Boone Pickens. She is the founder and CEO of Mustang Monument, a “luxury American safari” that encompasses 900 square miles just outside the Ruby Mountains, according to its website. Accommodations in ...
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Huffington Post article
Wealth Special Section: How T. Boone Pickens Sits Tight in the Riskiest of Businesses
New York Times - 4 months
The leader of BP Capital enjoys risk, but he backs it up by staying supremely well informed about the market, which nourishes a confidence in his convictions.
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New York Times article
Three very rich guys talk about Trump, taxes, and the 'vilified' 1%
CNN - 5 months
T. Boone Pickens, who made a fortune on oil and natural gas, says he hasn't paid any federal taxes in the last three years. And he says that's as the tax code permits.
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CNN article
Scott Walker John Doe: Corporate Checks Fueled Coordinated Campaign
Huffington Post - 5 months
Documents released by the Guardian indicate that Wisconsin Governor Scott Walker may have solicited and received corporate checks for the 2011 Senate recall fight and his own 2012 recall election. The checks--cut from corporate treasuries, not granted by individuals--were deposited into the account of the dark money group Wisconsin Club for Growth, which prosecutors viewed as a "subcommittee" of Walker's campaign in violation of the statutes (11.10 (04)). Moreover, it appears that Walker and the GOP-controlled legislature later took actions to benefit a number of these secret, corporate contributors and the public was none the wiser. The Guardian expose focused on the shocking story of one corporate giver, lead pigment manufacturer Harold Simmons, who gave a $500,000 corporate check on top of $250,000 in personal contributions and was rewarded with a change to the law which would retroactively cancel the lawsuits of 173 children poisoned by lead paint. But other corporate ...
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Huffington Post article
T. Boone Pickens Cuts Back on Clean Energy
Wall Street Journal - 6 months
The billionaire sold $7 million in shares of the natural-gas-fuel firm in his first open-market trade in 2016.
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Wall Street Journal article
Billionaire T. Boone Pickens Planning Trump Fundraiser
The Wall Street Journal - 10 months
Oil billionaire T. Boone Pickens, who endorsed presumptive GOP nominee Donald Trump, is planning to host a fundraising event for the pro-Trump super PAC next month, the first major effort by the super PAC to raise money.
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The Wall Street Journal article
Trump nabs billionaire GOP backer T. Boone Pickens
CNN - 10 months
Top Republican donors may be taking their time flocking to Donald Trump, but a prominent billionaire is on board: energy and hedge fund magnate T. Boone Pickens.
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CNN article
Is American Oil 'Dead'? T. Boone Pickens Says Yes ... But Only For Now
NPR - 10 months
Prospects in the industry are dim, and even the billionaire investor, who made his fortune in oil, has turned to alternative energies. Still, the self-described "realist" says they aren't the answer.
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NPR article
Key OSU DE Jimmy Bean questionable for pivotal TCU game
Houston Chronicle - over 1 year
Unbeaten Oklahoma State will be facing its toughest challenge of the season Saturday when similarly undefeated TCU visits T. Boone Pickens Stadium. The Cowboys could be facing a big personnel issue after veteran defensive end Jimmy Bean sustained an injury during OSU’s victory at Texas Tech last week. The Oklahoman reported that Bean had to be helped off the field twice during the game because of the leg injury. It is unknown if Bean will be able to play in Saturday’s game. OSU has made Bean unavailable for any media interviews this week, shrouding his condition. If Bean can’t go, OSU would likely start redshirt freshman Jarrell Owens of Palestine in his place. Bean is a significant force for OSU’s defense, forming with Emmanuel Ogbah one of the conference’s best pair of starting defensive ends. His absence against the Horned Frogs would be particularly worrisome. Bean has started 34 games during his OSU career. He ranks second on the team with 5½ sacks and 10½ tackles for lo ...
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Houston Chronicle article
For Pickens, Wind Claim May Be Last Power Play
NYTimes - over 1 year
T. Boone Pickens, the 87-year-old oil and gas tycoon, is embroiled in a battle over wind power in the Canadian province of Ontario.
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NYTimes article
T. Boone Pickens talks oil prices and energy
CNN - almost 2 years
Business magnate and financier T. Boone Pickens says that oil prices could be at $70 a barrel by the end of 2015.
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CNN article
T. Boone Pickens: Tesla cars are far too expensive
CNN - almost 2 years
One of America's big oil men is a fan of Elon Musk and his electric car business.
Article Link:
CNN article
Learn about memorable moments in the evolution of T. Boone Pickens
  • 2014
    Age 85
    As of September 2014, Pickens has a net worth of $1 billion.
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  • 2013
    Age 84
    It was reported on December 4, 2013 that Pickens' public relations representative told an NBC 5 affiliate reporter that he had proposed to Toni Chapman Brinker, widow of restaurateur Norman Brinker, at his ranch in Pampa. The couple married on February 14, 2014.
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    On February 21, 2013, Pickens spoke on behalf of Clean Energy Fuels along with New York City Mayor Michael Bloomberg in support of a new eco-friendly food truck.
    More Details Hide Details A press conference took place in front of city hall where the company, Neapolitan Express, explained how their mobile pizzeria emits 75% less greenhouse gases than trucks running on gas or diesel. The company launched in early 2013.
    In January 2013, Pickens' 21-year-old grandson Thomas "Ty" Boone Pickens IV died from a heroin overdose.
    More Details Hide Details Ty, the son of Thomas B. Pickens III, was a student at Texas Christian University in Fort Worth, Texas.
  • 2009
    Age 80
    On December 27, 2009, during what is called the "Meet the Press Roundtable", New York City Mayor Michael Bloomberg made the Pickens Plan case by talking about the need for energy independence.
    More Details Hide Details This discussion was in the context of the failed attack on an airliner on Christmas Day. Pickens’ proposal for increased use of natural gas in heavy duty trucks and fleet vehicles is included in the NAT GAS Act (H.R. 1835 and S. 1408) and the American Power Act.
    In July 2009, Pickens was the subject of controversy after he had a construction crew go to his grandmother's former home, that was now owned by someone else, in Holdenville, Oklahoma and remove a slab of driveway concrete that he had signed as a child.
    More Details Hide Details The current owner of the home asserted ownership, and the slab was returned. In February 2010, a judge ruled that the slab belonged to the current homeowner. Pickens owns a ranch in Roberts County, Texas that has three pipelines that cross his property. Pickens owns a Gulfstream 550 jet that he uses to fly to Stillwater for OSU games from his private airport near Pampa, Texas. Specific General
  • 2008
    Age 79
    He noted in Congressional testimony in July 2008 that his plan would generate new jobs and provide economic stimulus to this area, while noting that it would also require new transmission lines which traditionally antagonize some environmentalists and/or nearby populations.
    More Details Hide Details The announcement of the plan also coincides with Pickens' need for federal subsidies for wind to be renewed, as he has already begun placing orders for his planned wind farm in Texas. Pickens plans to spend $58 million on his multi-media effort to promote the Pickens Plan. Pickens multi-media campaign includes traditional media, such as newspaper and TV, and new media, such as YouTube and Facebook. The television ads for the Pickens Plan were produced by veteran Democratic political consultant, Joe Slade White. Carl Pope, executive director of the Sierra Club, has expressed support for the Pickens Plan.
    On July 8, 2008, Pickens announced a major energy policy proposal, called the Pickens Plan.
    More Details Hide Details The plan promotes a radical reduction in the United States' dependency upon foreign energy, particularly oil provided by nations in the OPEC cartel. Although the plan calls for introduction of various alternatives to oil, including wind and solar, its major component is the conversion of the nation's commercial transport sector away from OPEC diesel to natural gas. The Pickens Plan also calls for the United States to utilize its wind corridor in the middle of the country stretching from Texas northerly through the Great Plains to the Canada–US border.
    On May 15, 2008, Pickens' Mesa Power announced that it had placed a first order for 667 1.5-megawatt turbines from General Electric.
    More Details Hide Details The turbines will be delivered in 2010 and 2011. On July 17, 2008, the Texas Public Utilities Commission approved ratepayer funding of $4.98 billion in electric transmission lines to connect wind farms in the Texas Panhandle to the electric grid. This implements the provisions of a 2005 Texas law designed to promote new wind energy projects. On July 8, 2009, The Wall Street Journal reported that T. Boone Pickens has postponed plans to build his Texas wind farm. He said the project was stopped partly because existing transmission line capacity wasn't available. His company had planned to build new lines, but couldn't get financing. On the same date, The New York Times, reported that Pickens is committed to purchasing 667 wind turbines and will develop wind projects for them. On his Mesa Power Group website, Pickens said he expected to continue development of the Pampa project, but not at the pace originally expected.
    On January 30, 2008, The Oklahoman reported that Pickens was ready to start buying wind turbines for the project within a month, that he planned to buy between 1,700 and 2,000 turbines, and that they will cost from $200 million to $300 million.
    More Details Hide Details Pickens added that he has been approached by twenty potential partners on the project but has not yet made a final decision. "We have not picked any banker and we have not picked any partner," Pickens said. "It is kind of nice... I have decided I can get pretty far down the track before having to make those choices." Pickens predicted that similar wind farm projects could be built in the Texas Panhandle and the Canada–US border in the future.
  • 2007
    Age 78
    On August 16, 2007, Pickens' Mesa Power announced that it had filed documents with the state of Texas to add four gigawatts of electricity to the state grid.
    More Details Hide Details The filing with the Electric Reliability Council of Texas (ERCOT) projected that the project would be completed in 2011 and would include up to 2,700 turbines on up to in Roberts and adjacent counties in the Texas Panhandle. "We are now meeting with Panhandle landowners and negotiating wind lease and easement agreements," said Pickens. "We are excited at how quickly the pieces are falling into place."
    In June 2007, Pickens announced the intention to build the world's largest wind farm by installing large wind turbines in parts of four Texas Panhandle counties.
    More Details Hide Details The project would produce up to four gigawatts of electricity. Pickens' Mesa Power LP will undertake the construction. If completed, the farm would generate more than five times the 735 megawatts produced at the present largest such farm near Abilene, according to Susan Williams Sloan, spokesman for the American Wind Energy Association.
    On September 19, 2007, Pickens told CNBC that the price of oil could rise to $100 per barrel. "Demand is up and supply is flat, so it's got to go on up," said Pickens, whose company is betting on natural gas for vehicles. "I can give you an Oklahoma guarantee that natural gas will never sell above diesel and gasoline prices" as fuel for vehicles, Pickens added.
    More Details Hide Details On January 2, 2008, the first contract for $100 bbl oil was sold on the NYMEX exchange. In early July 2008, the price of oil briefly closed above $145 per barrel. By the beginning of September 2008, the price of oil settled to under $110 per barrel. By October 9, 2008, the price plummeted back below $85 per barrel. As of November 21, 2008, the price of oil had fallen below $50 a barrel, mostly riding fears of a global recession. Subsequently, in early 2009, Pickens restated during a Meet the Press interview with Tom Brokaw that he would bet $10 the price of oil would "be back to $100 a year from now". Two weeks later reporter John Stossel made a public $10,000 bet with financier T. Boone Pickens about whether or not the price of oil would surpass $100 by the first quarter of 2010. The bet ended on May 22, 2010 with the price of oil at $69.92. Pickens donated $10,000 to Stossel's charity but refused to concede total defeat, claiming he won on the futures markets and that Stossel should also donate $10,000 to Pickens' charity.
    On December 5, 2007, the Dallas Business Journal reported that Pickens had donated $6 million to Jubilee Park located at S. Carroll Avenue and Lindsley/Parry Avenue in Dallas and would man a bulldozer to begin demolition of an abandoned building across the street from a kindergarten Head Start program in Jubilee Park.
    More Details Hide Details On June 20, 2008, Pickens donated $25 million to the University of Calgary's Faculty of Medicine during a visit with Calgary Flames owner Harley Hotchkiss. On October 21, 2008, Pickens donated $5 million to the Downtown Dallas YMCA. The Downtown YMCA will now be renamed "T. Boone Pickens YMCA" in his honor. “I want this gift to encourage individuals, corporations and the entire city to make a serious commitment to fitness and health,” Boone Pickens said. “This money isn’t just helping people work out – it will revitalize this area and make the YMCA a place for the citizens of Dallas today, and will inspire our next generation to be healthy.” In 2010, Pickens was awarded the annual, "Effecting Change" award by 100 Women in Hedge Funds In December 2008, the Texas Legislative Conference honored Pickens as its "Texan of the Year".
    Pickens donated $1 million to Happy Hill Farm for the construction of a new academic campus at the residential school in February 2007.
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    On August 23, 2007, Bizjournals.com reported that Pickens is donating $2.5 million to Happy Hill Farm Academy/Home, a residential school for at-risk children and teenagers, to build a training center and guest lodge.
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    On May 16, 2007, Pickens donated $100 million to two University of Texas health care institutions.
    More Details Hide Details The gifts were donated to the UT Southwestern Medical Center at Dallas and The University of Texas M. D. Anderson Cancer Center in Houston. The donations are required to grow to $1 billion within twenty-five years before they can be disbursed by the recipient institutions.
    On January 22, 2007, Pickens donated $5 million to The University of Texas at Dallas to fund educational and research initiatives in the area of brain science.
    More Details Hide Details Part of the donation is funding the "T. Boone Pickens Distinguished Chair in Clinical Brain Science", that is held by Dr. Denise C. Park who heads The Center for Vital Longevity at the University of Texas at Dallas.
    On July 28, 2007, the Board of Regents of Oklahoma State University approved a resolution to move $28 million from the OSU Foundation into Pickens' BP Capital Management company in Dallas.
    More Details Hide Details Oklahoma State has previously invested $277 million in the fund. Pickens has been waiving fees for the university's investments with his fund. On May 21, 2008, Pickens donated $100 million to academics at Oklahoma State University. The gift will be matched by the state of Oklahoma. In October 2008, it was reported in the NY Times that due to the recent financial recession, some of Pickens's gifts to the athletic department had seen a large decline in their market value while being managed in his hedge funds. The same NY Times article noted that due to the worldwide recession, most other schools and charitable organizations were also experiencing problems with investments. The article also mentions that Pickens' management of donated funds had previously "turned $6 million into $31 million" for the school's athletic fund. Pickens and employees of his BP Capital LLC donated $7 million to the Hurricane Katrina relief effort. The Chronicle of Philanthropy lists Pickens as among its largest charitable givers 2005 and 2006. He has donated nearly a half a billion dollars to philanthropic causes during his career.
    John Kerry, whose military record and anti-war activism during Vietnam was the target of the group's book and media campaign, sent Pickens a letter on November 16, 2007, accepting the challenge, requesting that Pickens donate the money to the Paralyzed Veterans of America should he succeed in disproving any of the SVPT claims.
    More Details Hide Details In response to Kerry's acceptance of the challenge, Pickens issued a letter the same day, narrowing the original challenge to the SVPT ads, and requiring Kerry to provide his Vietnam journal, all of his military records, specifically those covering the years after his active duty service, and copies of all movies and tapes made during his service. Pickens' letter also challenged Kerry to agree to donate $1 million to the Congressional Medal of Honor Foundation, if Kerry "cannot prove anything in the Swift Boat ads to be untrue." Kerry later accused Pickens of "parsing and backtracking" on his initial offer and wrote that "I am prepared to prove the lie and marshal all the evidence, the question is whether you are prepared to fulfill your obligation." On June 22, 2008, a group of Vietnam veterans who previously served with and now work with Kerry accepted the challenge and sent a 12-page letter – with a 42-page attachment of military records to support their case – to rebut several of the accusations of the Swift boat group. Pickens has responded with a message stating "In reviewing your material, none of the information you provide speaks specifically to the issues contained in the ads,” he wrote, “and, as a result, does not qualify for the $1 million."
    On November 6, 2007, Pickens offered a million dollars to anyone able to dispute any claims made in political ads by the Swift Vets and POWs for Truth (SVPT), a group he had supported during the 2004 presidential election.
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    On July 16, 2007, Pickens wrote an article for National Review supporting Rudy Giuliani for President. "In Rudy Giuliani, a gracious and committed public servant I’ve known for many years, we see that rare blend of big-picture vision and proven track record of achieving the 'impossible.'
    More Details Hide Details We see a forward-looking, accomplished executive eager to tackle the challenges of today’s America and ensure that tomorrow we wake up stronger, freer, and more united than ever before." Pickens was an executive-committee member of the Rudy Giuliani presidential committee. Pickens chaired the celebration of the 40th anniversary of The American Spectator, a conservative U.S. monthly magazine covering news and politics. Pickens has focused his advocacy on alternative energy such as solar and wind. The Washington Post says that "perhaps the strangest role" Pickens "has fashioned for himself is his current one: the billionaire speculator as energy wise man, an oil-and-gas magnate as champion of wind power, and a lifetime Republican who has become a fellow traveler among environmentally minded Democrats – even though he helped finance the 'Swift boat' ads that savaged" Sen. John F. Kerry's presidential campaign. In an editorial, The New York Times reported Pickens "has decided that drilling for more oil is not the whole answer to the nation's energy problems."
  • 2005
    Age 76
    In 2005, Pickens married Madeleine Paulson who had been married to the founder of Gulfstream Aerospace, Allen E. Paulson, for two years. Pickens and Madeleine lived in Preston Hollow, Dallas and owned a ranch along the Canadian River in the Texas Panhandle. They divorced amicably in 2012 and had no children together.
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    In 2005, Pickens was among 53 entities that contributed the maximum of $250,000 to Bush's second inauguration.
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  • 2004
    Age 75
    In 2004, Pickens contributed to Republican 527 groups, including a $2 million contribution to the Swift Vets and POWs for Truth which ran a campaign asserting that Bush's rival, John Kerry, exaggerated claims about his service in Vietnam, and $2.5 million to the Progress for America advocacy group.
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  • 2000
    Age 71
    In November 2000, Pickens married Nelda Cain. They divorced in November 2004.
    More Details Hide Details They had no children together.
  • 1997
    Age 68
    He formed Pickens Fuel Corporation in 1997 and began promoting natural gas as the best vehicular fuel alternative because it is a domestic resource that, among many advantages, is cleaner-burning (Natural Gas Vehicles or NGVs emit up to 30% less pollution than gasoline or diesel vehicles) and reduces foreign oil consumption.
    More Details Hide Details Reincorporated as Clean Energy Fuels Corporation in 2001, the company now owns and operates natural gas fueling stations from British Columbia to the Mexico–US border. Since 1980, Pickens has made over $5 million in political donations. He was a financial supporter of President George W. Bush and contributed heavily to both his Texas and national political campaigns.
    In 1997, Pickens founded BP Capital Management (then called BP Energy Fund) – the initials standing for "Boone Pickens" and not related to British Petroleum.
    More Details Hide Details He holds a 46% interest in the company which runs two hedge funds, Capital Commodity and Capital Equity, both of which invest primarily in traditional energy companies such as oil, natural gas, and nuclear power corporations like Halliburton, Schlumberger, and Shaw Group. In 2006, Pickens earned $990 million from his equity in the two funds and $120 million from his share of the 20% fees applied to fund profits. In 2007, Pickens earned $2.7 billion, as BP Capital Equity Fund grew by 24% after fees, and the then $590 million Capital Commodity fund grew 40%, thanks to, among others, large positions in the stocks of Suncor Energy, ExxonMobil and Occidental Petroleum. Pickens' most recent recognition comes from The Franklin Institute in Philadelphia. T. Boone Pickens received the 2009 Bower Award for Business Leadership for 50 years of visionary leadership in oil and other types of energy production, including domestic renewable energy, and for his philanthropic leadership contributing to education, medical research, and wildlife conservation.
  • 1996
    Age 67
    Pickens sold Mesa to Richard Rainwater in 1996.
    More Details Hide Details Mesa merged with Parker & Parsley Petroleum in 1997 to form Pioneer Natural Resources.
  • 1989
    Age 60
    Shortly thereafter, in 1989, Pickens and Mesa moved to a suburb of Dallas.
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  • 1988
    Age 59
    He briefly considered running for president in the 1988 elections.
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  • 1987
    Age 58
    On the local level, Pickens chaired the Board of Regents of West Texas State University (now West Texas A&M University) in Canyon and in 1987–1988 contributed to the restoration of the administration building known as "Old Main".
    More Details Hide Details He was also active in the Republican Party in Potter County. Pickens organized a campaign in the mid-1980s against the Amarillo Globe-News newspaper, for what he claimed was inaccurate reporting about his deals and Mesa. Although the newspaper owner, Morris Communications, replaced its publisher twice during the conflict, Pickens' attempts to have the paper change its editorial policy failed.
  • 1986
    Age 57
    He was also involved in the creation of the United Shareholders Association (USA), which from 1986–1993 attempted to influence the governance of several large companies.
    More Details Hide Details After nearly two years of periodic hearing and debate, in July 1998 the Securities and Exchange Commission voted 4–1 to approve a one-share, one-vote rule, a primary USA objective.
  • 1985
    Age 56
    His celebrity rose so quickly after the Gulf Oil takeover bid that Time magazine put Pickens on the cover for the March 1985 issue.
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  • 1972
    Age 43
    In April 1972, Pickens married Beatrice "Bea" Carr Stuart and adopted one of her daughters, Elizabeth "Liz" Cordia.
    More Details Hide Details They had no children together.
  • 1971
    Age 42
    Pickens divorced Lynn in 1971.
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  • 1956
    Age 27
    In 1956, following his period as a wildcatter, he founded the company that would later become Mesa Petroleum.
    More Details Hide Details By 1981, Mesa had grown into one of the largest independent oil companies in the world. Pickens led Mesa's first major acquisition, a takeover of the Hugoton Production Company, which was 30 times the size of Mesa. He then shifted his focus to acquiring other oil and gas companies by making solicited and unsolicited buyout bids and other merger and acquisition activity. Pickens' corporate acquisitions made him a celebrity during the 1980s, an era of vigorous and extensively reported takeover activity. His most publicized deals included attempted buyouts of Cities Service, Gulf Oil, Phillips Petroleum, and Unocal. It was during this period that Pickens led Mesa's successful acquisitions of Pioneer Petroleum and the mid-continent assets of Tenneco. These as well as other deals placed Pickens at the center of controversy during the 1980s.
  • 1954
    Age 25
    He worked for Phillips until 1954.
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  • 1951
    Age 22
    He graduated from Oklahoma State with a degree in geology in 1951.
    More Details Hide Details Following his graduation, Pickens was employed by Phillips Petroleum.
  • 1949
    Age 20
    In 1949, Pickens married Lynn O'Brien.
    More Details Hide Details They had four children together; Deborah Pickens, Michael O. Pickens, Thomas B. Pickens III, and Pam Pickens.
  • 1928
    Born on May 22, 1928.
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