Nelson Bunker Hunt (February 22, 1926 – October 21, 2014) was an American oil company executive. He was a billionaire whose fortune collapsed after he and his brothers William Herbert and Lamar Hunt tried to corner the world market in silver but was prevented by government intervention. He was also a thoroughbred horse breeder. Silver Thursday was an event that occurred in the United States silver commodity markets on Thursday, March 27, 1980 following the attempt by brothers Nelson Bunker Hunt, William Herbert Hunt and Lamar Hunt to corner the silver market. A subsequent steep fall in silver prices led to panic on commodity and futures exchanges. Bunker Hunt’s Silver Mania: 1974 to 1980 By 1974, Bunker and Herbert had accumulated futures contracts for approximately fifty-five million ounces of silver—8% of the global supply at that time. But rather than selling the contracts to turn a profit, as most commodity traders do, the Hunt brothers had every intention of taking delivery of their silver—and they didn’t intend to keep it in the U.S. either. As one Texas editor was quoted in the New York Times, Bunker Hunt was “the kind of guy who orders chicken-fried steak and Jello-O, spills some on his tie, and then goes out and buys all the silver in the world.” Nelson Bunker Hunt, fabled son of the legendary billionaire H.L. Hunt of Texas, has been called “Silverfinger” by financial journalists eager to dramatize his silver investments in the purple ad (Nelson) Bunker Hunt, American oil tycoon (born Feb. 22, 1926, El Dorado, Ark.—died Oct. 21, 2014, Dallas, Texas), amassed an estimated fortune of $8 billion–$16 billion through oil revenues and other investments but lost much of his wealth in the 1980s owing to a disastrous attempt to corner the silver market. Hunt, along with his brothers Herbert and Lamar, began investing in silver in the early 1970s.
5 Jun 2019 Texas-born oilman Nelson Bunker Hunt tried to buy all the world's silver in an attempt to control the market for the precious metal. Instead he
Nelson Bunker Hunt, the down-home Texas oil tycoon who owned a thousand race horses, drove an old Cadillac and once tried to corner the world’s silver market only to lose most of his fortune when Bunker Hunt was worried the U.S. government might confiscate his silver, like it had done with gold in 1933. Also, he could not bring the silver into Texas without paying a 5 percent state tax. So Nelson Bunker Hunt might have been born in El Dorado, Arkansas – which, come to think of it, was a pretty suitable place of origin for someone raised with money to burn – but spiritually, he was a Nelson Bunker Hunt was a billionaire oilman who owned 1,000 racehorses but was undone when he tried to corner the world silver market, even having to sell a $20 teapot. Nelson Bunker Hunt, who has died aged 88, was a multi-billionaire Texan oilman who, with his brother Herbert, attempted to corner the world silver market. Nelson Bunker Hunt (February 22, 1926 – October 21, 2014) was an American oil company executive. He was a billionaire whose fortune collapsed after he and his brothers William Herbert and Lamar Hunt tried to corner the world market in silver but was prevented by government intervention. He was also a thoroughbred horse breeder. Bunker Hunt was worried the U.S. government might confiscate his silver, like it had done with gold in 1933. Also, he could not bring the silver into Texas without paying a 5 percent state tax
17 May 2016 Bunker Hunt died in 2014 – once again a billionaire, thanks to oil holdings he managed to keep. His brother Herbert is 87 years old and
25 Jun 2019 The Hunt brothers believed that inflation would result in silver becoming a haven, just like its more expensive cousin, gold. Nelson "Bunker" Hunt, 22 Oct 2014 Nelson Bunker Hunt, the down-home Texas oil tycoon who owned a “A billion dollars ain't what it used to be,” he said in 1980 after silver 18 Feb 2020 When silver prices went into free fall, however—dropping from a high of $50.35 an ounce in January to $10.80 in March—the Hunts were finally 22 Oct 2014 Nelson Bunker Hunt, a Texas oilman who tried to corner the silver market with his brothers only to see the move end in financial disaster in
While Bunker Hunt had invested in silver as far back as 1973, his four children did not enter the silver market until February 1979. At that time, with a loan from
The brothers were Nelson Bunker Hunt and William Herbert Hunt, and they began to accumulating large amounts of silver to use as a hedge against inflation .
9 Mar 2019 Keeping precious metals in the proper framework, a key but relatively small part of a portfolio, avoids the disaster of Nelson Bunker Hunt, the
21 Feb 2019 The Hunt Brothers contributed to silver's rise, but were only one of In an interview with Barron's magazine, Bunker Hunt kept quiet about his 1980-The price of silver crashes after Bunker and. Herbert try to corner that market, too. 1983–Margaret and Hassie disentangle their holdings from Bunker and 28 Mar 2014 According to the evidence, Nelson Bunker led his brother Herbert Hunt – along with friends from the Middle East – in conspiring to make the price 12 May 1980 The Hunts face Congress and bankers after their fallThose bashful bullionaire brothers W. Herbert and Nelson Bunker Hunt showed up in 28 Jul 2016 Herbert Hunt and Nelson Bunker Hunt. The Hunt brothers began buying silver in the early 1970's as a hedge against inflation. In 1979 however, 20 Feb 2019 Either way, Nelson Bunker Hunt, leader of the family triumvirate, rode the silver price from a few dollars an ounce to $50 an ounce and most of