Koch Brothers Reign Supreme On Wealth-X's List Of Richest US Oil Tycoons
Harold Hamm Sees Fortune Shrink By 50% From Oil Price Drop, Divorce Battle
NEW YORK, Jan. 20, 2015 /PRNewswire/ -- Although oil prices have plummeted by more than 50% since June 2014, the fortunes of many of America's prominent oil industry players have actually risen, according to a Wealth-X list of the top 10 richest US oil tycoons released today.
At the top of the list are billionaire oil baron brothers David and Charles Koch, whose net worth of US$44.9 billion and US$44.8 billion respectively makes them not only the wealthiest oil tycoons in the US, but in the world. The Koch brothers' fortunes have actually grown by 7% since the onset of the oil price plunge in June, due to the fact that their industrial conglomerate, Koch Industries, has a large, diversified investment portfolio with significant holdings in pipelines and refineries, but is not a major oil producer.
Another major shareholder of Koch Industries, Elaine Marshall, claimed the sixth spot on the list with a net worth of US$8.3 billion. She is one of four female oil barons who appear on the Wealth-X top 10 list.
Harold Hamm, the CEO of Continental Resources, has lost nearly half of his wealth over the past six months due to the fall in oil prices and a costly, protracted divorce battle with his wife during which he gave her a US$975 million settlement check. Hamm's net worth currently stands at US$9.3 billion.
Below are the top ten wealthiest American oil tycoons:
| Rank |
Name |
Net Worth In June 2014* |
Current Net Worth* |
Net Worth Change* |
Net Worth Change (%) |
| 1 |
David Koch |
42 |
44.9 |
2.9 |
7% |
| 2 |
Charles Koch |
42 |
44.8 |
2.8 |
7% |
| 3 |
George Kaiser |
13.3 |
13.2 |
-0.1 |
-1% |
| 4 |
Richard Kinder |
9.2 |
11.3 |
2.1 |
23% |
| 5 |
Harold Hamm |
18.5 |
9.3 |
-9.2 |
-50% |
| 6 |
Elaine Marshall |
7.8 |
8.3 |
0.5 |
6% |
| 7 |
Ray Hunt |
6 |
5.6 |
-0.4 |
-7% |
| 8 |
Milane (Duncan)** Frantz |
6.2 |
5.5 |
-0.7 |
-11% |
| 9 |
Randa (Duncan)** Williams |
6.2 |
5.5 |
-0.7 |
-11% |
| 10 |
Dannine (Duncan)** Avara |
6.2 |
5.5 |
-0.7 |
-11% |
* in US$ billion
** Maiden names
About Wealth-X
Wealth-X is the world's leading ultra high net worth (UHNW) intelligence and prospecting firm with the largest collection of curated research on UHNW individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 13 offices on five continents. (www.wealthx.com)
SOURCE Wealth-X
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