Tony Petrello’s Philanthropic Journey

Tony Petrello is the CEO of the largest land driller of oil, gas, and geothermal, Nabors Industries. He has worked with the company for over three decades. In 2014, he was the talk of the town when he emerged as one of the best-paid CEOs in America earning over $68 million that year. With such a huge income, Tony Petrello has developed a habit of donating to charities. When his daughter Carena was born with a neurological condition, Petrello gave over $7 million to Texas Children’s Hospital. The medical facility would utilize the funds to research about neurological conditions in kids and how to alleviate the condition to allow children to enjoy childhood just as healthy kids do.

As if that was not enough, Petrello is spearheading efforts to attract more donors to fund the Texas Children’s Hospital. One of Petrello’s greatest achievements in attracting new donors occurred in 2007 when he convinced Dan Duncan, the Chairman and Director of Enterprise Products, to give $50 million to the Texas’s based medical facility. The hospital utilized Duncan’s funds to construct the Jan and Dan Duncan Neurological Research Institute that opened its doors in 2010 situated somewhere within the hospital.

Petrello will be contributing annually to a prize in honor of Serge Lang. Before his death, Lang was a professor of math at Yale University. While Petrello was an undergraduate student at Yale pursuing math, he met Lang. The two became friends partly because Petrello and Lang had a common interest: mathematics. Lang influenced Petrello in a number of ways, and he (Petrello) regard him as a mentor. Petrello will be donating $150,000 annually coupled with additional giving to match any gifts presented up to a maximum amount of $150,000.

Petrello was brought up in Newark, New Jersey. He was born to a modest family, and he attended poorly funded public schools. He developed a passion for mathematics at an early age, and he was awarded a full scholarship to attend Yale University when he impressed many with his excellent grasp of calculus and linear algebra. However, he later quit Yale for Harvard Law School.
Presently, Petrello is the CEO, Chairman of the Board, and Chairman of the Executive Committee of the Board of Nabors Industries. He started working for the company beginning in 1991 as an elected member of the Nabors Board of Directors and the Executive Committee of the Board. Petrello is vocal about the competitive remuneration of over 100,000 staff members that work under him.

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