Discover Family, Famous People & Events, Throughout History!

Throughout History

Advanced Search

Publication: European Stars and Stripes Tuesday, September 6, 1988

You are currently viewing page 13 of: European Stars and Stripes Tuesday, September 6, 1988

   European Stars And Stripes (Newspaper) - September 6, 1988, Darmstadt, Hesse                                Magazine tumor Hunt left. Nelson Bunker Hunt Center end William Herbert Hunt right leave Federal court in new York after being found to have engaged in a pattern of racketeering activity to Comer the world Silver Market in the 1970 s. Hunt Brothers swagger into big deals and losses by James wifi sch n a York times Ven by 1exas standards the Hunt Brothers stand astride their slate As larger than life figures loaders of a powerful sprawling dynasty Brash businessmen and flamboyant social Mavericks whose lives have been a prime time Saga Tor More than a Quarter of a Century. Those years have seen the fortunes of one of the world s richest fam hog Rise and fall As the Brothers won and Ihen lost in bold and risky ways into read estate. Oil. And the Silver Iron Al. A venture thai led to the recent $ 130 million judgment Agassi them the Izreo Biolik i s Nelson Bunker 62, a Fem Herbert 59, and Larrar. 5g Are sons of the eccentric and legendary  \ Luni. A one time professional Gamble who parlayed a Lew if leases with Money made at pot i into a Fortune Worth 12iullion by 19sj h who Alico m 1974, believed he had a Genius Gene and lathered 10 children by three Kvamen Over 35 years. Bunker Herbert and Lamar have taken the most Active and visible role in mining some say ruining the family lat lung Thiol Jyh their management of Placid Oil Penrod drilling and other concerns As Well As heir involve Mon in Tho Silver debacle of 1980. In Many ways the Brothers have come to symbolize the Swagge Jinq Independent image of Texas. It is a family whose members May such things As a billion dollars in t what it used to be and Whoso Silc Mal feuding make the Ewing is on a fas look like the Brady Bunch. Polis Catly conservative and personally reserved they have always displayed a Texas style fondness Lor big things big deals big risks big payoffs. And big losses particularly for Bunker the most colourful of Iho Brothers who Lor Many years appeared to lend credence to his father s Genius Gene theory in the 1960s, he May have been Iho wealthiest Man in the country Worth an estimated $16 billion. During the last decades he has made and lost More Money in the Oil Fields and commodities markets than his father did in a he Lime. Indeed the losses connected to the family s Silver gambit have been staggering. In 1979, the Hunts tried to Corner the Silver Market by amassing 195 million ounces of Silver valued at $6,6 billion. By january of 1980, Silver prices peaked $5035 an ounce up from so an ounce in Early 1979, Bui in March the Price tumbled to $10 80. And Lite Hunt Brothers said the losses were Between e50d million and $1 billion. Troubles worsened for the Hunt Brothers when Oil prices plunged several years Laler last year. The Hunts whose assets had a liquidation value of is .a3 billion owed their creditors $2 43 billion. Despite these Mammoth problems the Hunt Brno hrs Are not without a nest egg. Last year they had interests in More than 200 Trust funds corporations partnerships and personal property much of which involve their siblings children and grandchildren the family has used the coils to pro decl their prize assets placing Iho family s Placid of co and a huge Trust fund into bankruptcy. The family has also died a st.5 billion Lon dog Lra Iid lawsuit the biggest of its kind against 22 United states and foreign Banks the hunks accuse the Banks of Polung to bankrupt them by lending whom Money they could not repay Ihen taking Over their businesses Al lire Sale prices. The Banks deny Tho charge previously the hunks had fared Well in court in 1976, a Federal court jury acquitted Bunker and horror of wiretapping charges they were accused of hiring private detectives to tap the phones of so employees of their late tuesday september 6, 1988 father to Check on tells Horn Tho company by nicer. Herbert and Lamar have two Sisters arid another brother from . S first marriage to Lyda Bunker who died in 1955. They Are considered die list family in  s dynasty. The three Brothers live in exclusive Dallas suburbs where Many residents Are not limit Aboul Llau Nimg their wealth. But the Hunt Brothers have cull Ivalee an Imago of Amianto tight ends driving old cars flying coach class making their High priced out of town lawyers double up in cramped Hunt owned apartments Bunker is the most political a regular contributor to the John Birch society and More Roc Nelly has developed close ties with Jerry Falwell and pal Robertson. It was Bunker who led Tho push into Silver and seems to share his lather s love of gambling in cards or in business. His passion is thoroughbred horses he owns More than 300. In 19bg, his Overall Breeding operations led die nation in Money earned and his 2,000-acro ranch near Dallas is Worth millions. In 19s5, Forbes Magazine estimated his Fortune at $900 million although the fall of Oil prices and other financial troubles have undoubtedly Cut into that figure. Bunker s closest associate is Herbert who is Moro subdued More a traditional management figure he has diversified Tho Hunt businesses into shopping centers office buildings and a Phoenix resort. He lives a ostentatiously in a a nodes Home and has been spotted mowing his own Lawn one indulgence s a collodion of ancient Art. Forbes estimated his wealth Ihrcke years ago at �800 million. Lamar devotes much of his Energy to running professional sports teams including the Kansas City chiefs football Loam which he owns he even keeps an apartment inside Arrowhead stadium where the chiefs play. He has also been involved As an owner and promoter in professional Lennis amusement Parks and other Enverl ailment ventures. His most Salute move however May Nave been his decision to sharply limit his involvement in Iho Silver scheme. Forbes estimated his wealth three years ago at $500 million the stars and stripes Page 13  
Browse Articles by Decade:
  • Decade