According to Forbes, 84 year old T. Boone Pickens, chairman
of hedge fund BP Capital Management is worth $1.4 billion. He made
the majority of his fortune in energy related companies, which remains
he specialty of the firm today, keeping a focus on oil, natural gas and
nuclear energy.
Some Background and Strategy
Mr. Pickens made a name for himself through mergers and acquisitions
in the 1980’s. He founded the company Mesa Petroleum in the 50′s and by
1981 it was one of the largest independent oil companies. From there he
bought up other energy companies, expanding Mesa.
“Boone Pickens” management was established in 1997. The company has
two divisions, Capital Commodities and Capital Equities, and has made
billions by trading in the energies sector. Mr. Pickens is a big
supporter of clean energies like wind power and natural gas, and takes
an active role in the companies he invests in.
Boone made headlines not
long ago for a Twitter interaction he had with the rapper Drake.
Drake tweeted, “The first million is the hardest.” to which Boone
responded, “The first billion is a helluva lot harder RT @Drake: The
first million is the hardest.” Drake concluded the conversation writing,
“@boonepickens just stunted on me heavy.” Looks like Drake still has a
thing or two to learn.
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