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Friday, April 16, 2021

Texas tycoon T. Boone Pickens shutters energy hedge fund

FORT WORTH, Texas (AP) — Oil tycoon T. Boone Pickens is closing his Dallas energy-focused hedge fund after what he describes as “one hell of a roller coaster ride.”

In a statement published on his LinkedIn page Friday, the 89-year-old Pickens says that “it’s no secret the past year has not been good to me, from a health perspective or a financial one.”

Pickens is recovering from a series of strokes and a fall last year. Slumping oil and natural gas prices knocked him off Forbes magazine’s rich list in 2013.

The closure of BP Capital comes after Pickens listed his prized Texas Panhandle ranch for $250 million in November.

In the statement, Pickens says he will continue to engage in philanthropy and politics and to provide his perspective on energy and cultural issues.

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