Texas Oil Tycoon Nelson Bunker Hunt Dies
Posted in Main Blog (All Posts) on October 22nd, 2014 11:09 pm by HL
Texas Oil Tycoon Nelson Bunker Hunt Dies
Nelson Bunker Hunt, the down-home Texas oil tycoon who owned a thousand race horses, drove an old Cadillac and once tried to corner the world’s silver market only to lose most of his fortune when the price collapsed, died on Tuesday in Dallas. He was 88. “A billion dollars ain’t what it used to be,” he said in 1980 after silver stakes he amassed with two brothers, Herbert and Lamar, fell to $10.80 from $50.35 an ounce. In barely two months, their holdings and contracts for purchases — corralling a third to half the world’s deliverable silver — had plunged from a $7 billion value in January to a $1.7 billion loss in March.
