John Shaheen
John M. Shaheen | |
|---|---|
| Born | 1915 |
| Died | 1985 |
| Occupation(s) | Entrepreneur, financier |
| Known for | Oil industry, life insurance, OSS service |
John M. Shaheen (1915–1985) was a prominent American entrepreneur and financier involved in the oil industry and life insurance sector.
Career
Prior to World War II, Shaheen was engaged in publicity work based in Chicago. During the conflict, he served with distinction in the Office of Strategic Services (OSS), receiving both the Silver Star and the Legion of Merit. Within the OSS, he held the positions of chief of Special Projects and head of the Reports Declassification Section, and also provided consultation for the 1946 motion picture O.S.S.. His tenure at OSS established a professional relationship with future CIA Director William Casey. Under President Richard Nixon, Shaheen was appointed as a special ambassador to Colombia.
Shaheen initially launched a life insurance enterprise that innovatively distributed policies through airport vending machines before shifting his focus to oil. Among his ventures was ownership of the Come By Chance Refinery located in Newfoundland, which filed for bankruptcy in 1976 with liabilities nearing $500 million—marking one of the largest insolvencies in Canadian history at that time. In 1973, he intended to start a newspaper named the "New York Press"; although his company, Shaheen Natural Resources, held three radio stations and a partial stake in a television station, it lacked experience in print media. By this stage, his earnings since World War II were reported to exceed $200 million.
In 1974, Shaheen chartered the Queen Elizabeth 2 to transport dignitaries to a proposed Nova Scotia site for an extensive oil refinery modeled after Come By Chance; however, this development never came to fruition.
As a significant Republican contributor, Shaheen made substantial donations to Richard Nixon's 1968 presidential campaign and was among the top 100 donors in 1972 with contributions totaling $100,000. In 1981, he established the Hong Kong Deposit and Guaranty Bank.