The Philanthropy Of CEO Tony Petrello

Even though he runs one of the biggest companies in the American oil and gas industry most people don’t have any idea who Tony Petrello is. This is because he’s humble and doesn’t seek the limelight like some of his contemporaries do. He is the chief executive officer of Nabors Industries, Ltd, a firm operationally based in Houston, Texas. His company is part of the S&P 500 and earned $2.564 billion in 2017 with $503 million of that as profit.

Tony Petrello is also a big philanthropist. A recent example of this took place after Hurricane Harvey went through the Houston area, flooding and damaging many homes. Many people lost everything and had no access to basics like clean water, food, and clothing. After the coast was clear Tony Petrello let everyone at Nabors Industries know they could help out their fellow citizens instead of going in to work and they would be paid for it. As a consequence employees of the company fanned out across the greater Houston area getting basics to people in need.

The employees of Nabor Industries also raised almost $175,000 to help those in need, named the Nabors Disaster Relief Fund. Out of his own pocket Tony Petrello matched the funds and the money was used to help people recover. He also had the kitchen facilities in his company’s headquarters open up for area residents so that they could get hot food three times a day.

In 1997, Tony’s and his wife, Cynthia, had a baby daughter. She was very premature and as a result she wasn’t able to get enough oxygen to her brain. She had a series of operations but ended up with cerebral palsy. Due to this everyday things like eating are a challenge for her to master. By going through this experience they realized that little was being done in the way of research to help children like their daughter, Carena.

Tony and Cynthia decided to agents of change in regards to childhood neurological conditions. They gave $7 million to Texas Children’s Hospitals research team. He also went out on lunches with business associates on a regular basis to get more money raised to support this type of research. As a consequence Texas Children’s Hospital has become a focal point of childhood neurological diseases research into both the causes of these as well as how to help those who live with it.

Tony is graduate of Yale University with degree in Mathematics and Harvard University with degree in Law. He worked for so many years as attorney and managing partner in a firm in US. He is the current CEO of Nabors Industries.

Visit nabors.com for more details about Tony Petrello.

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