The Hunt brothers, Nelson Bunker Hunt and William Herbert Hunt, were once two of the wealthiest men in the world. They made their fortune in oil but are primarily known for their involvement in the silver market in the late 1970s and early 1980s. At the height of their power, they were said to control roughly two-thirds of the world's silver supply. However, their empire eventually crumbled, and they were forced to declare bankruptcy in 1988. So, what happened to the Hunt brothers after that?
The Early Years
Nelson and William Hunt were born into a wealthy family in Texas. Their father, Haroldson Lafayette Hunt, was an oil tycoon who made his fortune in the early 20th century. The brothers followed in their father's footsteps and became involved in the oil industry themselves. They quickly made a name for themselves as savvy investors and soon began diversifying their portfolio into other markets.
The Silver Market
In the late 1970s, the Hunt brothers turned their attention to the silver market. They believed that the price of silver was severely undervalued and began buying up as much of it as they could. Their purchases drove up the price of silver and caused a buying frenzy among other investors. At the height of their power, the Hunt brothers were worth an estimated $7 billion.
The Collapse
However, the Hunt brothers' empire eventually crumbled, and they were forced to declare bankruptcy in 1988. The exact reason for their downfall is a matter of debate, but many believe it was due to their excessive borrowing and the fact that they were buying more silver than they could afford.
The Present Day
So, are the Hunt brothers still alive today? The answer is yes, but they are no longer the wealthy tycoons they once were. Nelson Bunker Hunt passed away in 2014 at the age of 88. William Herbert Hunt, now in his 90s, is still alive but has largely retreated from the public eye. He currently lives in Dallas, Texas.
The Legacy of the Hunt Brothers
The Hunt brothers' legacy is a complicated one. On one hand, they were incredibly successful investors who made a fortune in the oil and silver markets. On the other hand, their actions in the silver market were controversial and caused significant harm to other investors. Many people believe that their attempts to corner the silver market were unethical and contributed to the economic turmoil of the late 1970s and early 1980s.
Conclusion
The Hunt brothers were once two of the wealthiest men in the world, known for their involvement in the silver market in the late 1970s and early 1980s. However, their empire eventually crumbled, and they were forced to declare bankruptcy in 1988. Nelson Bunker Hunt passed away in 2014, while William Herbert Hunt is still alive but largely retired from public life. Their legacy is a complicated one, with many people praising their shrewd investing skills while others criticize their controversial actions in the silver market.