John McCandish King
John McCandish King (born 1927 in Chicago , Illinois ; died January 13, 2016 ) was an American oil entrepreneur.
Life
John McCandish King suffered from bronchial asthma since childhood , spent a lot of time in bed, won a knitting competition and studied at the University of Washington . In 1945 he was employed by Harold Stassen at the San Francisco Conference . He then studied business administration and political science at the University of California, Berkeley . At Wheaton College in Illinois and at Northwestern University , he founded a Young Republican College Federation , with which he supported part of the unsuccessful attempts by Harold Stasson to become a US presidential candidate for the Republican Party .
In 1950 he invested US $ 1,500 , about 40 percent of his wealth at the time, and had a friend drill for oil on a friend's farm in Oklahoma . King saw himself as a self-taught oil prospector . In 1963, King moved from Chicago to Denver . King owned 73 percent of the shares in King Resources, LLC , a public company whose capital included a computational model of the crust of the earth 's crust . At times, King directly or indirectly employed about 5,000 people and owned about 15 percent of the world's oil drilling rigs. King had close business relationships with Investors Overseas Services and Robert Vesco . In his network marketing he employed Walter Schirra and Frank Borman .
In late 1969, the Golda Meir government sold Red Sea oil development rights to the Midbar Oil Company , a subsidiary of King Resources, LLC , headquartered in London . From Kenting of Canada Ltd. oil drilling equipment priced at half a million pounds sterling was shipped from Canada via the Canary Islands to the port of Abidjan . There, The Centing 1 , a Kenting offshore oil rig was waiting on calm seas to circumnavigate the Cape of Good Hope . Five combat swimmers from the Egyptian army , including Ahmed El Masry, Gamal and Batanaony, attached charges to the four pontoons on the platform and damaged them. Batanaony was shot dead.
John M. King's income development came to an abrupt end. In 1963, Forbes Magazine valued his financial fortune at $ 300 million, not even close to that of John D. Rockefeller in absolute terms, but King had received and lost that fortune on a short-term basis. In 1986, after having suffered several strokes, John M. King lived as a businessman in the USA.
The Denver Post published a family obituary that John King died on January 13, 2016.
Web links
- Proceedings for Reorganization of Corporations 482 F.2d 552 (10th Cir. 1973) (English)
- King Resources, LLC (English)
Individual evidence
- ↑ Time , May 25, 1970, Personalities: Big John
- ^ Roger M. Olien, Diana Davids Hinton, Wildcatters: Texas Independent Oilmen p. 129
- ↑ Midbar: Hebrew: desert
- ↑ Masry: Arabic: Egyptians
- ^ Bert Cantor, The Bernie Cornfeld story , L. Stuart, 1970-320 pp. 304
- ^ Time , Jan. 17, 1972, ENTREPRENEURS: Penury Without Tears
- ^ Arthur Herzog, Vesco: From Wall Street to Castro's Cuba, the Rise, Fall, and Exile of the King of White Collar Crime
- ↑ Denver Post, [1]
| personal data | |
|---|---|
| SURNAME | King, John McCandish |
| ALTERNATIVE NAMES | King John M. |
| BRIEF DESCRIPTION | American oil entrepreneur |
| DATE OF BIRTH | 1927 |
| PLACE OF BIRTH | Chicago |
| DATE OF DEATH | January 13, 2016 |