The Richest People In America: Robert Holding


#77 Robert Holding

$4.6 billion
Source Oil/Gas, Self made

Age 81
Marital Status Married, 3 children

Hometown Sun Valley, ID, United States
Education University of Utah, Bachelor of Arts / Science

Fortune has dwindled $400 million in past 12 months amid difficult environment for oil refiners. Son of apartment managers ran Wyoming hotel and gas station. Bought 10% share in business; expanded to Utah, Arizona. Purchased Sinclair Oil 1976. Now owns 3 refineries, 1,000 miles of pipeline, 2,600 filling stations. Sold Barnett Shale natural gas acreage to Chesapeake Energy for $300 million in 2006. Drilling in North Dakota's Bakken Shale. Planning $1 billion expansion of Tulsa refinery; will increase capacity from 70,000 barrels per day to 115,000 by 2010. Agreed to pay $2.5 million fine, make $72 million in antipollution upgrades at 3 refineries. Owns Snowbasin, Utah and Sun Valley, Idaho resorts.

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