The World Health Organization has estimated that over one billion people will ultimately have some type of a neurological disease and need extensive treatment. This statistic is very personal to Tony Petrello and his wife Cynthia Petrello.
Tony Petrello is the Chairman, President and Chief Executive Officer of Nabors Industries LTD, a global oil and drilling company based in Houston, Texas. His career began as an Attorney when he was Managing Partner with a prestigious law firm in New York City. As the leader of Nabors Industries LTD, Tony has earned a very comfortable salary. In 2015, he was one of the highest compensated CEO’s in the world with a compensation package that was valued at $27 million.
Following the cerebral palsy diagnosis of their premature daughter, Tony and Cynthia sought treatment and research within the state of Texas only to discover that it was very limited. Upon further investigating, they discovered other parents in similar situations in need of help to combat many different neurological diseases. Tony and Cynthia made a decision to donate $7 million to the Texas Children’s Hospital towards building a research center and advance the treatment opportunities for children like their daughter Carena and adults. Tony also serves on the Board of Trustees for the Texas Children’s Hospital and actively participates within the fundraising needs on behalf of the hospital.
Tony is an active philanthropist and has great compassion for others, evidenced by his service to the community. The Petrello Family Foundation was founded by Tony and Cynthia Petrello in 2001. They support the creative arts within Texas and several other needs within the community such as programs involving the research of the AIDS disease and to combat homelessness. In 2016, Tony and Cynthia helped fund the Museum of Fine Arts through donations that reached $1.85 million.
Tony was born and raised in Newark, New Jersey and graduated from Yale University with a Master’s Degree. He was well-known by college roommates and Professors as being a brilliant student. Tony chose to further his education by attending Harvard Law School where he received his J.D. Degree and later went to New York City in order to begin his career as an Attorney for the law firm Baker & McKenzie.
He was later sought for the role in leadership with Nabors Industries LTD earning him the reputation as a strategist and innovative leader. Tony’s leadership has helped Nabors Industries LTD create innovative technological advancements in the oil and drilling industry. In 2017, Tony and his leadership team successfully completed the acquisition of Tesco Corporation, an oilfield services company, using full stock value for the purchase. Nabors Industries LTD has $8 billion in assets.