Stronger Wrist

Tony Petrello Has A Longtime Broadway Star Visit His Home

Even though Broadway star Tommy Tune has spent much of his professional career up in New York, he’s still very popular in his hometown of Houston, TX. He was given a warm welcome home when upon the announcement of a performance at the Miller Outdoor Theatre, and the reception was hosted by Houston oil magnate Tony Petrello, the Chairman of Nabors Industries. Petrello has been a fan of Broadway performances having grown up in Newark, NJ near the Broadway scene, and Tune was honored to visit with Petrello and his family at their beautiful Houston home. Both men have been involved in philanthropy in their communities with Petrello extending his hand to numerous charities.

Tony Petrello is a graduate of Yale University with bachelor’s and master’s degrees in advanced mathematics, and while he was there most people thought he would become a mathematics professor like his mentor Serge Lange. But instead he went on to complete law school and decided to help clients with tax and overseas accounts management as an associate and later partner at Baker & McKenzie. Petrello passed the bar exam and became quite a reputable lawyer at the firm, and it was Nabors Industries who he closely guided on accounts management that they reached out and offered him the position of Chief Operating Officer. So in 1991 he left the familiar northeast corner and headed down to Houston.

Petrello served as Chief Operating Officer for 21 years, and in 2011 took over as CEO and Chairman of Nabors. Through various shareholder negotiations and heated meetings, there was an agreement to change things in Nabors governance that paid out Petrello additional bonuses making his compensation for 2013 $68.7 million and earning him recognition as the highest-paid CEO of that year, a feat that’s not since been repeated by him. Throughout his time at Nabors Industries, he’s built up a large portfolio of advanced offshore and modular drilling technology.

Anthony Petrello is the father of a young girl named Carena, and due to premature birth and an illness she suffered, she’s had to struggle with cerebral palsy. It took a tremendous toll on Petrello personally when he learned of the struggles his daughter would always face, but he decided to dedicate his resources to helping her and other children like her. So he became familiar with the Texas Children’s Hospital’s Dan and Jan Duncan Neurological Research Institute and decided to help them out. Through a fundraising party he hosted, Petrello dedicated $7 million to funding new research technology.

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