Anthony Petrello’s Wealth Depresses a Former College Roommate

Anthony Petrello, the Chief Executive Officer of Nabors Industries, is recognized as a mathematician genius who broke the heart of a world-renowned professor Serge Lang by choosing to study law. He holds an M.S degree in Mathematics from Yale University and a Juries Doctor Degree from Harvard Law School. His freshman year roommate Lloyd Grove describes him as a charming extroverted genius and more information click here.

After University, Antony Petrello worked at Baker & McKenzie law firm for twelve years. He climbed the leadership ranks to become the company’s managing partner in 1986. In 1991, he left the law firm to work for its client, Nabors Industries, Houston, as a specialist in corporate taxes. He held the position of the deputy chairman of the company’s board from 2003 until he became the company’s CEO in 2011 and later board chairman in 2012.

According to the seemingly depressed Lloyd Grove, Antony Petrello is seriously wealthy. He is right. Mr. Petrello had topped the list as the highest paid CEO in 2013.However, in 2014 was not on the list. Though under his leadership the share prices of the company had gone up by 180%, he still was on the receiving end of shareholders rage because of his substantial compensation the previous year. The result of which was a shareholders’ rebellion that led to the change of Nabors Industries corporate governance and compensation and learn more about Anthony.

The changes included separation of the roles of the CEO and the chairman, two posts Antony held initially and capping executive severance payments. These changes aimed at reducing Antony Petrello’s paycheck and reversing the money to the shareholders. Nevertheless, his compensation remains high. In 2015, his total income was $27.7 million, nearly 735 times more than the salary of the average office clerk. He earned about $16.9 million as awards on stocks, $6.12 million as bonuses and only $1.6 million as salary while the remainder came from other compensations and Anthony’s lacrosse camp.

Besides being the CEO of Nabors Industries, Antony Petrello has been a director of Stewart $ Stevenson, LLC and Texas Children Hospital. He has donated $7 million to the hospital to support a neurological research center. He currently serves as the director of too.

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