Ray Lee Hunt

Ray Lee Hunt
Ray Lee Hunt
Born	1943; United States
Occupation	Businessman
Years active	1974–present
Known for	Heir to Hunt Oil Company, businessman in oil industry
Notable work	Inherited Hunt Oil Co. and General American Oil Company holdings

Ray Lee Hunt (born 1943) is an American billionaire businessman and heir.

Early life

He is the son of the late H. L. Hunt (1889–1974), who established Hunt Oil Co.. His parents were married in 1957. His siblings include June Hunt, Swanee Hunt, and Helen LaKelly Hunt.

Education

Hunt completed his studies at Southern Methodist University located in the Dallas region.

Career

Following the passing of his father in 1974, Hunt, along with his three sisters, inherited Hunt Oil Co. and the remaining holdings of General American Oil Company. In 1982, Forbes valued the family's fortune at $200 million, which expanded to $4.6 billion by 2006.

In 2007, Hunt finalized an oil agreement with the Kurdistan Regional Government in contested areas near Dohuk Governorate, with an estimated worth between $8 billion and $14.5 billion. The Iraqi federal Oil Minister denounced the contract as unauthorized since only the central government has the authority to approve such deals; however, Kurdistan claimed constitutional powers to negotiate independently. Despite inquiries from the U.S. government, both Kurdistan and Hunt Oil have kept specifics confidential. A U.S. Congressional committee revealed that officials within the George W. Bush administration were aware of Hunt Oil’s intentions to enter this agreement, which contradicted U.S. policy and weakened Iraq’s federal government. The State Department’s Office of Inspector General continues its examination of the issue.

In November 2009, Peru's Native Federation of the Rio Madre de Dios (FENAMAD) issued a notice demanding that Ray Hunt and Hunt Oil vacate the Amarakaeri Communal Reserve, citing operations conducted without indigenous approval within this protected rainforest area vital to local native communities and biodiversity.

Hunt previously owned Southwest Media Corporation, which published D Magazine, Houston City Magazine, Texas Homes, and Sport Magazine.

Political donations

Hunt was a prominent backer of former President of the United States George W. Bush and served on the President's Foreign Intelligence Advisory Board. He is a member of the Board of Trustees for both his alma mater, SMU, and the George W. Bush Presidential Center. In 2015, he and his wife contributed $2 million to a Super PAC supporting Jeb Bush's presidential bid.

Other donations

As a major supporter of the SMU athletic program, Hunt was among approximately 15 donors who played a key role in SMU’s anticipated transition in 2024 from the American Athletic Conference to the Atlantic Coast Conference (ACC). This group pledged financial support sufficient for SMU to forgo ACC media revenue during its initial nine years within the conference.

Personal life

Hunt is married and has five children. His son, Hunter L. Hunt, serves as CEO of Hunt Consolidated Energy. Ray Hunt lives in Dallas, Texas. Forbes assessed his net worth at US$6 billion in 2015, rising to $7.5 billion by 2023.

External links