Hunt Becomes Billionaire on Bakken Oil After Bankruptcy

[sammysilver]

http://www.bloomberg.com/news/2013-...llionaire-on-bakken-oil-after-bankruptcy.html

William Herbert Hunt was once one of the wealthiest men on Earth. With his brother, Nelson Bunker Hunt, the billionaire bought more than 195 million ounces of silver -- 60 percent of the U.S. market -- in the 1970s. By early 1980, their stake was valued at more than $9 billion.

 

[willrocks]

Wonder if they own any silver today? Even just a few kgs for old time's sake.

 

[sammysilver]

Wonder if they own any silver today? Even just a few kgs for old time's sake.

We should ask him, he's on Silver Stackers!

 

[perthsilver]

I thought this bit was interesting

Bunker discovered oil fields in Libya in the 1960s, losing them when Muammar Qaddafi nationalized the fields in 1971. Those losses prompted him to invest in a commodity he could control, according to Jeffrey C. Williams, a professor of economics at University of California at Davis.

Since gold investing was barred by the U.S. government until 1977, Bunker turned to silver, recruiting Herbert - and, later, another brother, Lamar -- to join him, Williams said by phone.

Now I'm hoping for another gold "confiscation" :lol:

 

[Vic_Bitter]

I'm not surprised to see him a billionaire after all these years when they cornered the silver market. Very rarely will the knowledge of obtaining wealth and their connections just disappear.

The Hunt brothers would have learnt a few things about playing in the Rockefeller casino. No doubt they would still have some physical silver lying in a vault somewhere. Once a silver stacker always a silver stacker.