William Herbert Hunt
William Herbert Hunt | |
|---|---|
| Born | 6 March 1929 United States |
| Died | 9 April 2024 (aged 95) Dallas, Texas, U.S. |
| Occupation | Oil magnate |
| Known for | Attempt to corner the international silver market; oil industry ventures |
William Herbert Hunt (March 6, 1929 – April 9, 2024) was a prominent American oil magnate who, alongside his siblings Nelson Bunker Hunt and Lamar Hunt, made a notable attempt to dominate the international silver market. According to estimates by Forbes, his personal fortune reached approximately US$5.3 billion.
Early life
William Herbert Hunt was born in 1929 to Lyda Bunker and the renowned oil entrepreneur H. L. Hunt, inheriting a strong connection to the petroleum industry.
Career
During the 1970s, together with his brother Nelson Bunker Hunt, he accumulated roughly 195 million ounces of silver, which at its peak was valued close to $10 billion. However, the dramatic downturn in silver prices in 1980, known as the Silver Thursday event, severely diminished their wealth, resulting in losses estimated around one billion dollars. Following this financial setback, William Herbert Hunt filed for bankruptcy in 1990 but subsequently restored his financial standing through continued involvement in oil enterprises.
In 2012, he divested part of Petro-Hunt's holdings in the Williston Basin by selling assets to Halcon Resources for $1.45 billion, which increased his net worth to an estimated $3 billion. Petro-Hunt continues operations across various U.S. regions including the Williston and Permian/Delaware basins.
Personal life and death
Residing in Dallas, Texas, Hunt was a father to five children. He died there on April 9, 2024, at the age of 95. He was the final surviving offspring of H. L. Hunt and his first spouse, Lyda.
His nephew, Clark Hunt, holds the positions of chairman and CEO for the National Football League team Kansas City Chiefs.