Tony Petrello is formerly one of the highest-paid executives – scratch that, the highest-paid executive in the United States in 2013 – in the entirety of the United States of America. Mr. Petrello currently isn’t paid more than all executives, although he still remains as one of the best paid with more than $15,000,000 in total compensation from data available from the most recent fiscal year.
Mr. Tony Petrello works for Nabors Industries Ltd., an energy giant listed on the Standard & Poor 500 originally founded as Anglo Energy Ltd. in 1968. Mr. Petrello took over as COO and President in 1991, immediately turning around its poor financial performance and translating it to the ultra-high financials of today, including a net income in excess of one billion United States Dollars off of only $2.22 billion, according to financial statements reporting on the fiscal year of 2016.
While Tony Petrello unarguably has an outstanding career, it’s far less clear to most people where he came from, his upbringing, personal life, early education, career, and other business related information. Let’s tear into this information, must-know for every investor and business buff around the United States.
Anthony “Tony” Petrello was born in Newark, New Jersey, to a working-class family. Despite the fact that most executives around the world are born with silver spoons in their mouths, or at least into middle-class families that have it relatively easy, Tony Petrello wasn’t spawned onto our green earth with these privileges.
As soon as Tony was able to read, he started reading academic textbooks at the high school and college level, rapidly boosting his reading level from the youngest age that one can read imaginable.
All his peers, friends, family members, educators – really everybody who knew him or even knew of him – were fully aware of the young Tony Petrello’s ability to work math problems with unmatched accuracy and speed. As a result of these abilities, he was awarded a full scholarship to the ever-prestigious Yale University, where he would later study mathematics for a bachelor’s and master’s degree.
He had a change of heart and decided not to work in mathematics, instead hoping to become a lawyer. Tony went to Harvard Law School and went to work for Baker & McKenzie in New York state. It was here when he met executives at Nabors Industries. 12 years after working for the law firm, Nabors employees finally persuaded him to join their team.