Anthony Petrello is usually known to be tough when negotiating deals under the auspices of Nabors Industries, one of the world’s largest oil drilling companies. But one of his softer sides can be seen when talking about the Texas Children’s Hospital where he has given $7 million to neurological research. The reason he’s done this is because he and his wife Cynthia have a young girl named Carena who was diagnosed with periventricular leukomalacia when she was born.
The Petrellos may not have been able to have Carena’s condition cured, but they decided to have a fundraiser to research preventative medicine for it. Anthony Petrello pledged $7 million out of his own pocket and has been working with the Texas Children’s Hospital and its neurological research institute founders Dan and Jan Duncan to raise more awareness.
Before becoming CEO of Nabors Industries and fundraising for the Texas Children’s Hospital, Anthony Petrello had a career in law along with great mathematics aptitude. He was raised in Newark, NJ and had his sights set on a mathematics career when he was still in middle school. He landed a scholarship at Yale University and became the personal favorite of Professor Serge Lang, a man who is responsible for many of today’s algebraic equations. While Petrello excelled in his studies, he decided upon graduating that he wanted to use them in law. And so began a 13-year law career.
He joined Baker & McKenzie in 1979 and practiced in corporate law. He served many Wall Street clients guiding them through SEC regulations and offshore tax laws, and by 1985 he had become a partner at the firm. Nabors Industries was also a client at the firm, and they were so pleased with Petrello’s work that they offered him a hefty compensation as Chief Operating Officer. Petrello gladly accepted and moved with his family to Houston in 1991.
Petrello became CEO of Nabors Industries in 2011 and then Chairman not long after. In his current capacity, Petrello guides the oil drilling company in technology investments, helps bring in profitable contracts and strategic initiatives. Nabors Industries has built one of the largest portfolios of rigs and drilling technologies that includes horizontal wells, hybrid drilling and offshore modular equipment. Anthony Petrello’s leadership saw company stocks take off in 2013 that he was able to become the nation’s highest-paid CEO that year topping $68 million in total compensation. Shareholders would not allow a repeat the following year.
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