Business Leader, CEO

Tony Petrello Goes Out Of His Way To Help Houston This Last Fall

Tony Petrello probably isn’t mentioned enough for his acts of kindness and generosity both to employees in his company and to people around Houston. It was put on display this last fall when Hurricane Harvey hit the city hard and left many people without homes, and those who did still have their homes went without power and water for days. Petrello is the CEO of Nabors Industries, and in the days following the hurricane’s strike he granted company employees time off to take care of their families if affected by it, and time to volunteer in the cleanup operations with compensation for it. Petrello also helped start a company fundraiser which he pledged to match funds for, and he ended up giving over $173,000 to relief.

As the CEO of Nabors Industries, Tony Petrello manages one of the largest US oil drilling companies with stations located all around the globe, and one of the most efficient offshore drilling systems in the industry. He’s overseen the development of various automated drilling technologies, proprietary software and fundraising for global operations. In 2013, Petrello made headlines by becoming the highest paid CEO in the US when his compensation reached over $68 million due to base pay, equity and bonuses in his name as part of a contract negotiation.

Prior to joining the executive board at Nabors Industries, Tony Petrello had a career in law. He grew up in Newark, NJ and was known as a math genius throughout his middle school and high school days. He got his bachelor’s and master’s degrees in advanced math while attending Yale originally considering becoming a professor, but then opting to go into law. Petrello went to work for the Baker & McKenzie law firm in New York City where he advised a lot of clients on tax and regulatory codes governing investments and corporate structure. His knowledge of finding loopholes in the tax system attracted the executives of Nabors Industries, and in 1991 Petrello left law practice to become Chief Operating Officer of the major oil corporation, and he became CEO in 2011 after then Chairman and CEO Eugene Izenberg passed away.

Petrello hasn’t only given to hurricane relief efforts; he’s also a supporter of the Susan G. Komen Foundation and the Texas Children’s Hospital’s Dan and Jan Duncan Institute. The Dan and Jan Duncan Institute specializes in neurological research, and this field is very important to Petrello because his daughter Carena happens to be a victim of cerebral palsy. Petrello hopes one day a cure for various brain disorders can be found, so he’s donated $7 million to advanced research here and is on the Board of Trustees.

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