Tony Petrello Starts A $170,000 Support Fund For Hurricane Harvey Relief

Tony Petrello isn’t always mentioned in the same sentence as the word “generous,” but he certainly has shown it many times in the Houston community. His latest support for the community came after hurricane Harvey left a wide range of damage in the area and relief was much needed. Petrello decided to give Nabors Industries’ employees time off to not only attend to their homes and families and make sure they were safe, but they were also paid to go help their neighbors and others who may have been stuck in the damage or needed shelter and meals. Petrello started an online fundraiser page to help with the damage to which a total of about $170,000 was raised which was matched by that same amount from Petrello’s own pocket.

Tony Petrello is not originally from Houston, but he still tries to be involved as much as he can with its community. He was born in Newark, NJ and though he came from a blue collar family, he was brilliant academically and especially excelled in mathematics. Petrello attended Yale University and received both a bachelor’s and master’s degree in advanced math, and according to an old roommate of his even studied under famous mathematician Serge Lange. But his next career move after this was to attend law school at Harvard University and then to join Baker & McKenzie as an associate in 1979 and to become a partner at the firm later. One of the firm’s biggest clients was Nabors Industries who saw tremendous benefits to Petrello’s advice on tax law and accounts management, and in 1991 they asked him to join their executive board.

Tony Petrello began his tenure at Nabors Industries as chief operating officer in 1991, and 20 years later he became the new Chairman and CEO of the company. Petrello has managed the development of different oil drilling technology and has been responsible for different stock offerings and shareholder meetings. About five years ago he became featured in various business magazines for becoming the highest-paid CEO with a new contract that made his compensation that year over $68 million. He also led the acquisition of Tesco Corporation just this last year. Petrello is a trustee at the Texas Children’s Hospital and has given $7 million to neurological research, a cause that’s very close to his heart because his young daughter Carena is also a victim of periventricular leukomalacia. He is also a friend of famous Broadway actor Tommy Tune.

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