The Generosity of Tony Petrello

Tony Petrello rose to prominence when he was given the position of Chief Executive Officer of Nabors Industries. This is a Texas company that specializes in drilling for oil and natural gas. Tony has experienced some tragedy in his life that has made him become a very generous person. He and his wife had a daughter. Her name is Carena. Unfortunately, she was born with a very serious disorder in her brain. The disorder was rare. This meant that there was not much research being done to cure the disorder. Tony used his enormous resources to start a research facility that was designed to try to find a cure for his daughter’s disease. He has since been involved with many fundraisers in order to generate donations for the same cause. Tony Petrello has developed a reputation for being a very big philanthropist. He enjoys donating money to help make the world a better place.

Tony was a very smart child. He was always the very best in all of his classes. His academic excellence helped him to get accepted into Yale University where he decided to choose the major of mathematics. He obtained both a BA and a master’s degree in math from Yale. He then decided to move on to Harvard where he obtained a degree in law. It was not long after he completed his studies in law school that he was hired by a law firm in New York City. Tony loved working in the big city. He found that being a lawyer suited him. He gained more power in the firm as the years went by. In 1991, he was approached by the board of directors at Nabors to become their new CEO. The company was once the biggest in the oil and natural gas drilling industry in the 1970s. However, it had fallen on hard times in the 1980s due to mismanagement. Petrello agreed to the offer.

Petrello was very straightforward in his approach. He told the board of directors that many changes need to be made. He then proceeded to eliminate many positions in the company which he believed to be redundant. Reducing the payroll helped to increase the overall profitability of the company. The stock price of Nabors began to rise steadily under Petrello’s leadership. It was not long until Nabors began to dominate their industry once again. Petrello is now one of the most powerful CEOs in the world.

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