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Telling Fortunes

No. 15: Trevor Rees-Jones

Age: 62Home: DallasNet Worth: $4.4 billion

In 1984 Trevor Rees-Jones gave up his career as a lawyer to search for oil. Then, in the late nineties, everything changed. With his venture Chief Oil and Gas, Rees-Jones was among the first to develop, on a large scale, a technology known as hydraulic fracturing, or “fracking,” in the Barnett Shale. He soon found himself a major player in one of the largest oil and gas booms in history. By 2005 Chief was the second-biggest producer in the Barnett, delivering 100 million cubic feet of natural gas per day. In 2006 Rees-Jones sold his Barnett interests for $2.63 billion and shifted his investment to the giant Marcellus Shale, in West Virginia and Pennsylvania, where he ended up leasing 600,000 acres. He hit the jackpot a second time when he sold his positions in much of that formation in 2012. Since his ship came in, Rees-Jones has given $25 million to the Boy Scouts, $25 million to Dallas’s Perot Museum of Nature and Science, and millions more to the Salvation Army and various other charities.  

 

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