T. Boone Pickens
Born 1928 · Age 97
American oilman, corporate raider, hedge-fund manager and philanthropist; founder of Mesa Petroleum, BP Capital Management and the Pickens Plan advocate for natural gas and wind power.
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Life & Career Timeline
Born in Holdenville, Oklahoma
Thomas Boone Pickens Jr. born to Grace Marcaline (Molonson) and Thomas Boone Sibley Pickens; father an oil and mineral landman.
Family moved to Amarillo, Texas (oil boom ended)
When the Oklahoma oil boom ended in the late 1930s, Pickens' family relocated to Amarillo, Texas.
Expanded newspaper route as a boy
At age 12 Pickens delivered newspapers and grew his route from 28 papers to 156, which he later cited as an early lesson in expansion by acquisition.
Attended Texas A&M (one year) then transferred
Attended Texas A&M on a basketball scholarship but was cut from the team and lost the scholarship; transferred to Oklahoma A&M (now Oklahoma State University). Approximate year based on graduation date.
Married Lynn O'Brien
Pickens married his first wife, Lynn O'Brien. The couple had four children.
Graduated Oklahoma A&M with geology degree
Completed a Bachelor of Science in geology at Oklahoma A&M (now Oklahoma State University). Member of Sigma Alpha Epsilon fraternity.
Joined Phillips Petroleum
Employed by Phillips Petroleum after graduation; worked there until 1954.
Left Phillips and began his own company (Petroleum Exploration Inc.)
After working at Phillips, Pickens began his own oil and gas company, Petroleum Exploration Inc., beginning his independent oil career.
Founded company that became Mesa Petroleum
Founded the company that later became Mesa Petroleum, starting the enterprise that made his fortune.
Founded Altair Oil & Gas (Canada exploration)
Formed Altair Oil & Gas Company to explore oil in western Canada (late 1950s; date approximate from sources).
Introduced royalty trust innovation
Pioneered modern oil and gas royalty trusts which changed investment/tax structures for upstream assets (timing in the 1960s–1980s; approximate).
Became known as a corporate raider and greenmailer
During the 1980s Pickens led many high-profile stock campaigns and takeover attempts, making him a prominent takeover operator.
Mesa became a major independent oil company
By 1981 Mesa had grown into one of the largest independent oil companies in the world.
Attempted takeover of Gulf Oil (major 1980s M&A activity)
Pickens led high-profile takeover attempts in the 1980s including Gulf Oil; his group’s activism helped trigger consolidation in the industry (deal activity peaked mid-1980s).
Received Golden Plate Award (American Academy of Achievement)
Honored with the Golden Plate Award in recognition of his accomplishments in business.
Featured on Time magazine cover after Gulf Oil events
Time magazine put Pickens on its cover (March 4, 1985) as Mesa's takeover activities (e.g., Gulf Oil) made national headlines.
Helped create United Shareholders Association (USA)
Involved in the creation of the USA to influence corporate governance; organization active from 1986 to 1993.
Organized campaign against Amarillo Globe-News
Led a media campaign claiming inaccurate reporting about his deals and Mesa; ultimately unsuccessful in changing the paper's editorial policy.
Published memoir 'Boone'
Published his memoir 'Boone' recounting his career and life experiences (1987).
Relocated Mesa and Pickens to Dallas suburb
Mesa and Pickens moved from the Texas Panhandle/Amarillo area to a Dallas suburb in 1989.
Chaired Board of Regents, West Texas State University
Served as chairman of the Board of Regents at West Texas State University (now West Texas A&M University) — date approximate (mid/late career).
Mesa in financial trouble; sold to Richard Rainwater
Mesa ran into financial difficulty and was sold to financier Richard Rainwater; Pickens was removed from control by Darla Moore.
Founded Pickens Fuel Corporation (later Clean Energy)
Formed Pickens Fuel Corporation to promote natural gas as a vehicular fuel; that business reincorporated as Clean Energy Fuels Corporation (Clean Energy).
Founded BP Capital Management (BP Energy Fund)
Established BP Capital Management (initially BP Energy Fund) — BP stood for 'Boone Pickens' — a Dallas-based hedge fund focused on energy investments.
Mesa merged to form Pioneer Natural Resources
Mesa merged with Parker & Parsley Petroleum to form Pioneer Natural Resources (1997); Mesa assets folded into Pioneer.
Served on Clean Energy board for ~20 years
Co-founded and served on the board of Clean Energy (Pickens Fuel/Clean Energy Fuels) for roughly two decades, supporting natural gas fuel adoption.
Married Nelda Cain
Married Nelda Cain in November 2000; the marriage lasted until their divorce in November 2004.
Published 'The Luckiest Guy in the World'
Authored and published 'The Luckiest Guy in the World' (2001).
Pickens Fuel reincorporated as Clean Energy Fuels Corporation
Pickens Fuel Corporation formally became Clean Energy Fuels Corporation, operating natural gas fueling stations across North America.
Donated $70 million to Oklahoma State University
Made a $70M gift to his alma mater OSU (structure and timing per sources, 2003).
Inducted into the Oklahoma Hall of Fame
Pickens was inducted into the Oklahoma Hall of Fame in recognition of his career and philanthropy.
Major political donations in 2004 election cycle
Contributed heavily to Republican causes in 2004, including $2M to Swift Vets and POWs for Truth and $2.5M to Progress for America.
Chartered planes to rescue dogs after Hurricane Katrina; donated to Red Cross
In the wake of Hurricane Katrina Pickens chartered flights to transport rescued dogs and donated $7M to the American Red Cross (largest individual gift at the time).
Contributed $250,000 to George W. Bush second inauguration
Was among donors who gave the maximum $250,000 to President Bush's second inauguration committee.
Married Madeleine Paulson
Married Madeleine Paulson (widow of Allen Paulson) in 2005; the couple divorced amicably in 2012.
Donated $165 million to Oklahoma State University (invested in BP Capital)
Announced a $165M gift to OSU that was immediately invested in BP Capital Management; Pickens waived management fees for OSU funds.
Reported BP Capital earnings for 2006
Pickens reportedly earned $990M from equity in two funds and an additional $120M from profit fees in 2006 (reported compensation/profits).
Donated $5 million to Texas Woman's University (Institute of Health Sciences)
Contributed $5M toward the T. Boone Pickens Institute of Health Sciences-Dallas Center.
Founded the T. Boone Pickens Foundation
Established his foundation to direct philanthropic grants across education, medical research and conservation (foundation established circa 2006).
BP Capital strong returns and personal earnings in 2007
Reportedly earned $2.7B in 2007 after funds' strong performance (BP Capital Equity Fund + Capital Commodity Fund).
OSU moved additional $28M into BP Capital
Oklahoma State Board of Regents approved moving $28M from OSU Foundation investments into Pickens' BP Capital; OSU had previously invested $277M.
Mesa Power filed for 4 GW Texas wind project with ERCOT
Mesa Power filed documents with ERCOT to add up to 4 gigawatts of wind power and up to 2,700 turbines in the Texas Panhandle, with project targeted for 2011 completion.
Offered $1M Swift Boat challenge
Publicly offered $1 million to anyone who could dispute claims made in Swift Vets and POWs for Truth ads (group he had funded in 2004); later narrowed terms after Kerry accepted.
Received National Football Foundation Distinguished American Award
Honored by the National Football Foundation as a Distinguished American in 2008 for philanthropy and achievement.
Published 'The First Billion Is the Hardest'
Released 'The First Billion Is the Hardest' (2008), discussing his career, comebacks and energy policy ideas.
Placed first order for 667 GE wind turbines
Mesa Power placed an order for 667 1.5-MW GE turbines (deliveries in 2010–2011) for the Pampa wind project.
Donated $100 million to University of Texas medical institutions
Committed $100M to UT Southwestern Medical Center and MD Anderson Cancer Center; gifts required to grow to $1B within 25 years before disbursement.
Donated $100 million to academics at Oklahoma State University
Announced a $100M gift to OSU academic programs, to be matched by the state of Oklahoma.
Donated $25 million to University of Calgary Faculty of Medicine
Gave $25M during a visit to Calgary, supporting medical education and research.
Announced the Pickens Plan
Launched a national energy policy campaign (the 'Pickens Plan') calling for U.S. energy independence via wind power and converting heavy-duty transport to natural gas.
Donated $5 million to Downtown Dallas YMCA
Contributed $5M; the Downtown Dallas YMCA was later renamed the 'T. Boone Pickens YMCA'.
Backed California Proposition 10 (natural gas initiative) — defeated
Clean Energy Fuels was the primary backer of CA Prop 10 (Nov 2008); voters rejected the referendum by ~60% to 40%. The initiative proposed $5B in general fund bonds (~$9.8B with interest).
Awarded Franklin Institute Bower Award for Business Leadership
Received the Franklin Institute's 2009 Bower Award for Business Leadership for 50 years in energy and philanthropy.
Postponed Texas wind farm plans
Announced that plans to build the massive Panhandle wind farm were postponed, citing transmission/financing difficulties despite turbine orders.
Received 'Effecting Change' award by 100 Women in Hedge Funds
Honored for contributions and philanthropy by 100 Women in Hedge Funds in 2010.
Shifted focus away from wind power to natural gas
Publicly scaled back wind ambitions, citing low natural gas prices and economics; Mesa Power changed project pace and strategy.
Mesa Water rights sold to Canadian River Municipal Water Authority
Mesa Water sold its rights (previously the largest private holder of groundwater rights) to the Canadian River Municipal Water Authority in 2011.
Awarded Albert Schweitzer Leadership Award
Received the Albert Schweitzer Leadership Award from the Hugh O'Brian Youth Leadership Foundation in May 2012.
Grandson Thomas 'Ty' Boone Pickens IV died of overdose
His 21-year-old grandson, Ty Pickens, died from a heroin overdose; Ty was a student at Texas Christian University.
Publicly proposed to Toni Chapman Brinker
Announced his engagement to Toni Chapman Brinker at his Pampa ranch (proposal announced Dec 4, 2013).
Married Toni Brinker
Married Toni Chapman Brinker on Valentine's Day at Prairie Chapel (Feb 14, 2014); later divorced in June 2017.
Net worth reported at $500 million (Nov 2016)
The New York Times (Nov 2016) reported Pickens' net worth as approximately $500M.
Suffered series of strokes and a fall
Reportedly experienced declining health including strokes and a fall in 2017, marking the beginning of health decline that led to retirement from active business.
Closed BP Capital Management
Closed BP Capital Management in 2018 as his health declined and he wound down active management of funds.
Died in Dallas, Texas
T. Boone Pickens died at his home in Dallas on September 11, 2019. At death his net worth stood at about $500M after giving away more than $1B.
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