The highest paid CEO in the United States is currently Tony Petrello of Nabors Industries. He has donated a sizable portion of his wealth to research that will hopefully lead to a cure for debilitating diseases. He got interested in philanthropy when his daughter was born with a very rare neurological disorder. This made Tony want to find a cure for the disease no matter what the cost would be. Petrello has donated literally millions of dollars of his own money to several children’s hospitals in the Houston area. This is where the headquarters of Nabors Industries is located.
Petrello said that finding out that his daughter had a disease that had no cure was devastating for both he and his wife. He said that it made him realize just how fragile life really is. He gained a new perspective that made him want to use his vast fortune to help rid humanity of the dreaded disease that is afflicting his daughter.
Tony has college degrees from both Harvard and Yale. He started out as a lawyer. He was employed by Baker and McKenzie in NYC from 1979 until 1991. He was eventually promoted to head of the NYC office where he made the firm one of the most profitable in the United States. His success at the law firm did not go unnoticed. Nabors Industries was looking for a new person to run their organization after firing their previous CEO. Tony Petrello seemed like the perfect fit. He was a skilled lawyer who already had several years of leadership experience under his belt. He accepted the employment offer. Hiring Tony turned out to be a very wise decision by the executives at Nabors.
Nabors drills for oil and natural gas. This was an industry that Tony Petrello had never worked in before. However, that did not stop him from doing very well at his job from the very beginning. The company had been losing money for the better part of a decade. There were a wide variety of reasons why this was taking place. Tony began to trim the fat as soon as he took over. The changes that he implemented helped to streamline the organization. All of a sudden, profits started to go up dramatically. The first year that Petrello was in charge was the most profitable for Nabors in eight years. This is a testament to his leadership skills.
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