Nelson Bunker Hunt, the Texan oil tycoon who tried to corner the silver market in the 1970s and went spectacularly bust, had a wonderful way with words, says The Daily Telegraph. One of 15 children (by three women) of legendary oil wildcatter H.L. from the archives - piece on Nelson Bunker Hunt and Silver Thursday from 1980 The third investment turned out differently. Heather Mills Net Worth. His brother, Lamar Hunt, who also became very wealthy thanks to Sarir, founded the American Football League and the modern-day Kansas City Chiefs. Should Trump Ban Importing Oil from Saudi Arabia? Herbert was not quite as devastated by Silver Thursday or the ensuring legal problems. This is the unreal life story of Nelson Bunker Hunt. The Hunt brothers were hoarding so much silver that Tiffany's took out an ad in the New York Times condemning their strategy. They own oil … Nelson's father would go on to have 15 children by three different wives. Poor health eventually forced him into an assisted living center, where he died at the age of 88. He’s not alone among the mega-rich, brought low by a combination of avarice, bad timing, and bad luck. The Sarir oil fields made Nelson enormously wealthy. But after four years of painstaking work, Getty struck the motherload. Until his dying day in 2014, Nelson Bunker Hunt, who had once been the world’s wealthiest man, denied that he and his brother plotted to corner the global silver market. The ad read "We think it is unconscionable for anyone to hoard several billion, yes billion, dollars' worth of silver and thus drive the price up so high that others must pay artificially high prices for articles made of silver". Submit a correction suggestion and help us fix it! H.L. Enjoy the best Nelson Bunker Hunt Quotes at BrainyQuote. Nelson Bunker Hunt (February 22, 1926 – October 21, 2014) was an American oil company executive. The money that was raised from the liquidation went to pay down tens of millions worth of fines, and IRS debt. Known as Bunker Hunt, he was once one of the world’s wealthiest men, worth an estimated $16 billion. Hunt. Site. Nelson Bunker Hunt was born Feb. 22, 1926, in El Dorado, Ark., and grew up in Tyler, Tex. Winner of the U.S. Eclipse Award for Outstanding Breeder in 1976, 1985, and 1987, he owned the 8,000-acre (3,200 ha) Bluegrass Farm in Lexington, Kentucky, and raced thoroughbreds in Europe and North America. Oct 21 (Reuters) - Nelson Bunker Hunt, the Texas oilman once considered the world's richest man before his fortunes were undone by Muammar Gaddafi and his own epic overreaching in the silver market, died on Tuesday at age 88. Much of their investment was made with borrowed money. Nelson had developed a passion for horses and at one time owned over 1000 of various breeds that won many prestigious races. He has a net worth of $8.6 billion, according to the Bloomberg ranking. Hunt and his brother both eventually recovered, with Nelson Bunker Hunt's share of a family trust recently estimated to be about $200 million, according to media reports. Saudi Arabia was a desolate little Kingdom with basically no naturally resources or wealth whatsoever. Collections. H.L. I realize this news alone wouldn't normally be worthy of an article on Celebrity Net Worth. After all, how many people who die on a given day have the distinction of at one point being the richest person in the world??? Muammar Gaddafi quickly seized control of all of the Hunt International Petroleum's assets and nationalized the Sarir deposits. By 1980, with silver still going strong, the brothers' position was worth $7 billion. For bankruptcy teenager, Hunt was born in El Dorado, Arkansas, the market.... Brothers began amassing an enormous position in silver future contracts and physical bars! 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