Ray Lee Hunt Net WorthReal Name: Ray Lee Hunt
Date of Birth: 04/06/1943
Place of Birth: New York, New York
2017 Net Worth: $5.4 Billion
Profession: Oilman, real estate investor, businessman
Ray Lee Hunt Biography
Born in New York City in April of 1943, Ray Lee Hunt is one of the 14 children of the late H.L. Hunt, founder of Hunt Oil Company. Hunt attended Southern Methodist University in Dallas Texas, where he belonged to the Phi Delta Theta fraternity.
Hunt’s father passed away in 1974 and along with three sisters, Hunt inherited Hunt Oil Company. In 1984, Hunt found a huge oil supply in Yemen. It took him two full years to lay a pipeline and build a refinery. In 1982, the family fortune was estimated to be about $200 million. In 2006, this amount was estimated at $4.6 billion.
Hunt cut a deal with the Kurdistan government in 2007 in the territory of Ninewa. This deal has been valued at anywhere from $8 to $14 billion. The Iraqi Oil Minister has stated that this deal is illegal; however, the Kurdistan Region claims they have control over their own oil rights. Neither the Kurds nor Hunt will disclose any of the details about this arrangement, but an investigatory US Congressional committee has come to the conclusion that the Bush Administration knew what was going on with this deal and did nothing to stop it, even though it is strictly against American policy as well. This issue still has not been resolved and Hunt might end up paying dearly if this arrangement is deemed to be illegal.
Hunt is the former owner of the Southwest Media Corporation of Texas, which is perhaps best known for its magazine publishing including Houston City Magazine, Texas Homes and Sport Magazine. He also owns numerous real estate investments including commercial properties in and around Dallas as well as Hyatt Hotel chains.
Married with 5 children, Hunt lives in Dallas, Texas, and his son, Hunter, is currently the CEO of Hunt Consolidated Energy. Hunt has a current net worth of $5.4 billion.