Bunker Hunt
| Nelson Bunker Hunt | |
|---|---|
| Born |
February 22, 1926 El Dorado, Arkansas, U.S. |
| Died | October 21, 2014 (aged 88) Dallas, Texas, U.S. |
| Nationality | American |
| Occupation |
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| Political party | Republican |
| Parent(s) |
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| Awards |
Thoroughbred horse racing:
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Nelson Bunker Hunt (February 22, 1926 – October 21, 2014) was an American oil company executive. He was a former billionaire whose fortune collapsed after he and his brothers William Herbert and Lamar Hunt tried but failed to corner the world market in silver. He was also a thoroughbred horse breeder.
Hunt was born in El Dorado, Arkansas, but lived most of his life in Dallas, Texas. He was the son of Lyda Bunker and oil tycoon H. L. Hunt, who set up Placid Oil, once one of the biggest independent oil companies, and the brother of Lamar Hunt, founder of the American Football League and Kansas City Chiefs. In October 2014, Hunt died at the age of 88. He had cancer and dementia.
Bunker Hunt played a very significant role in the discovery and development of the oil fields in Libya, which were nationalized by Muammar Gaddafi in 1973. This nationalization later resulted in the House of Lords decision in BP Exploration Co (Libya) v Hunt (No 2) [1983] 2 AC 352.
Hunt owned the Dallas-based Titan Resources Corporation, which is still involved in the exploration of oil in North Africa. He was chairman of Hunt Exploration and Mining Company (HEMCO).
Beginning in the early 1970s, Hunt and his brothers William Herbert and Lamar began accumulating large amounts of silver. By 1979, they had nearly cornered the global market. In the last nine months of 1979, the brothers profited by an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million troy ounces (3,100,000 kg).
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