The annual rankings released by Associated Press named Tony Petrello as the highest-paid CEO in the United States. He is the chairman and CEO of Nabors Industries Ltd. His high pay resulted from the combination of stock options and salary. His amazing earning is an indication that Nabors Industries is doing great. Tony joined the company in 1991 where he rose to become the president and chief operating officer. He was later promoted to become the Deputy Chairman in 2003 before assuming his current position in 2011.
Nabors Industries is among the world’s largest companies in the oil and gas industry. It also owns the biggest land-based drilling rig collection globally. Based in Houston and Bermuda, the company is known for drilling Alaska Prudhoe Bay discovery well. With over 30,000 employees, Nabors Industries recorded over $2.2 billion in revenue in 2016. Since joining Nabors Industries, Petrello has contributed greatly to the operational success of the company. He is responsible for various acquisitions which have boosted profits and promoted the company’s image globally.
Tony Petrello is also a generous giver committed to helping the less fortunate. He donated $50 million to facilitate the launch of the Neurological Research Institute based in Texas Children’s Hospital. The institution researches on childhood disorders. Petrello also donated $150,000 to commemorate Professor Serge Lang who was his mentor and friend while at Yale University. Petrello with his wife are the co-founders of the Petrello Family Foundation which promotes medical resources, education and performing arts within Houston.
Under the leadership of Tony Petrello, Nabors Industries has also supported several charitable organizations and community projects. Recently, the company took part in helping Houston’s residents who were hit by Hurricane Harvey. Nabors’ employees were given paid time off to go and help the community. Together with Petrello, the employees also made financial contributions to help support relief efforts. The company also offers educational sponsorships to its employees and their children through Nabors Charitable Foundation which has given over $3 million for the project.
About Tony Petrello
Tony Petrello was born in Newark, New Jersey. He received his Bachelors and Masters degrees in Mathematics from Yale University. In 1979, he graduated from Harvard Law School where he pursued a degree in law then joined Baker $ McKenzie law firm. Petrello left the law firm in 1991 after serving in its New York’s office as the Managing Partner. He is currently the Director of Texas Children’s Hospital and a member of the Trustees Board of the hospital. He also serves at both Hilcorp Energy Company and Stewart & Stevenson LLC as the director. His achievements portray his strong work ethic and integrity.
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