Tony Petrello is famous for the fact that he is one of the best paid chief executives in the United States while he tops the list of the annual rankings of Associated Press.
Petrello, who serves as both chief executive and chairman of Nabors Industries Limited took home an impressive $15,372,429 in the 2016 financial year alone. This amount was a combination of both the stock options he has in the company and his annual salary. Despite the fact that Petrello’s earnings are a true sign of the success of his company, it is also reflective of his grandiose achievements. Petrello has built Nabors industries from the ground up to become a beacon in the oil and gas industry which happens to be very competitive in the US.
Tony Petrello has come from very humble beginnings. He was born in Newark, New Jersey in a working-class family. He would later attend Yale University under student loans and scholarships. While at Yale, he excelled in maths which would eventually lead to both a bachelors and a master’s degree in the subject. Petrello later joined the prestigious Harvard University to pursue a degree in law. He graduated from Harvard Law School in 1979 after which he joined the Baker & McKenzie law firm where he worked until 1991.
Petrello had risen through the ranks to become the Managing Partner of Baker & McKenzie’s office in New York. One of the clients to the New York-based law firm, Nabors Industries, extended an employment opportunity to Tony Petrello in 1991. At Nabors. Petrello rose quickly to become the chief operating officer and president of the firm. He became Nabors industries Deputy Chairman in 2003 and assumed his current position of chief executive officer in 2011.
Nabors industries own the biggest land-based drilling rig fleet in the world. The company also provides both off-shore and land-based operations services around the globe. Both Petrello and his wife Cynthia have been successful corporate managers with a track record to bank on in the companies where they have worked. The couple welcomed their first daughter, Carena who was diagnosed with a neurological condition which had rendered her immobile and unable to eat. This challenge was so frustrating to the couple who had to depend on the expertise of healthcare professionals to treat their daughter.
Tony Petrello is also a philanthropist. He has established an annual price at Yale University with a personal endowment of $150, 000 which has other matching donations. The funding is set to remember a math professor, Serge Lang, who passed on in 2016.