Oil magnates are sometimes viewed as greedy and aggressive business deal makers, but if you did get to know their personal life and saw the philanthropy some are involved in, you might change your mind quickly about them.
Such is the case with Tony Petrello, the chairman of one of the world’s largest oil drilling companies who even once took the title one year for America’s highest-paid boss. The Texas Children’s Hospital has been honored to have the support of Petrello because thanks to his millions in charity to their facility, chronically ill children have been able to receive quality care and some may one day have a cure for diseases that were formerly untreatable like cerebral palsy.
Tony Petrello himself has a daughter named Carena who has cerebral palsy caused by a seizure she had at birth known as periventricular leukomalacia. He considers the hours and days he spent struggling with the news that she would never have a normal life to be the lowest point of his life. While it was a personal struggle for a while for Petrello, he came across some friends in Dan and Jan Duncan, two entrepreneurs who had dedicated their own wealth to helping young children at TCH. In talking with the Duncans and telling them Carena’s story, Petrello discussed with them how he could make a difference by giving to the hospital and helping their neurological research department there. More and more research into the causes and effects of cerebral palsy and other issues triggered in the brain can now get underway thanks to a $7 million check Petrello wrote to TCH, and he also is on their Board of Trustees.
Tony Petrello has been CEO of Nabors Industries since 2011 and two big acquisitions he led the company through were Tesco Corporation and a Saudi Aramco venture. He came to Nabors Industries as their chief operating officer back in 1991 but took over his current role when former Nabors Industries chairman Eugene Isenberg passed away. Petrello holds a JD from Harvard University’s law school, and he practiced finance law with specialties in tax compliance, audits, underwriting, divestitures and other major transactions at a New York City firm. Prior to that he grew up in Newark, NJ and attended Yale University where he received his bachelor’s and master’s in advanced math. Other side facts about Petrello include studying under mathematician Serge Lange, and being married to former soap opera star Cynthia Carrafa.
Visit nabors.com for more details about Tony Petrello.