Nelson Bunker Hunt dies at age of 88

Enlarge Photo

Lance Murray

Nelson Bunker Hunt — whose net worth had more ups and downs than the Dallas skyline — died Tuesday in Dallas at the age of 88.

Bill Hethcock

Staff Writer- Dallas Business Journal

Email  |  Twitter  |  Twitter  |  Google+

Oil and real estate magnate and deal-maker extraordinaire Nelson Bunker Hunt — whose life took him from billionaire to bankruptcy and partway back — died Tuesday in Dallas at the age of 88.

Born in El Dorado, Arkansas, Hunt lived in Dallas. He was the son of Lyda Bunker and oil tycoon H.L. Hunt and the brother of Lamar Hunt, founder of the Kansas City Chiefs.

At the time of his death, Nelson Bunker Hunt owned the Dallas-based Titan Resources Corp, which is involved in the exploration of oil in North Africa, and was chairman of Hunt Exploration and Mining Co.

The former billionaire's fortune collapsed after he and his brother, William Herbert Hunt, tried but failed to corner the silver market in the 1970s and 1980.

The brothers bought more than 195 million ounces of silver — 60 percent of the U.S. market — in the 1970s. By early 1980, their stake was valued at more than $9 billion, according to this 2013 article by Bloomberg.

The Hunts' position imploded when silver prices plummeted 80 percent over the course of March 1980 in a crash that rocked Wall Street and eventually sank the Hunt brothers into bankruptcy.

Hunt and his brother both eventually recovered, with Nelson Bunker Hunt's share of a family trust recently estimated to be about $200 million, according to media reports. He returned to thoroughbred ownership, a lifetime passion, buying 51 juveniles and yearlings.

Hunt died of congestive heart failure in Caruth Haven Court, a senior living center.

Bill covers health care, law, education and general assignments. Subscribe to our email newsletters.