One of the nation’s highest paid executives is Anthony Petrello, the leader of oil drilling contractor Nabors Industries. With the constant demand for oil despite it’s fluctuating value, and the fairly steady stock values for Nabors shareholders, it’s no wonder Petrello is compensated pretty well for his leadership.
As of the last year his base salary was $1.58 million a year, but he also has earned $7.7 million in bonuses, $16.86 million in stocks and an additional $1.34 million in miscellaneous compensations making his total value at $27.5 million. As CEO and Chairman of Nabors, Petrello manages the strategic planning and technological initiatives of the company from hybrid drilling equipment to proprietary software for operations.
Petrello was hired at Nabors by former CEO Eugene Iseberg due to his knowledge of corporate law and ability to solve problems. The problem solving skills of Petrello actually started when Anthony Petrello was a young man in middle school. His passion was mathematics and it wasn’t uncommon for him to be working on highly complex problems in his free time. He earned his bachelor’s and master’s degrees in the field at Yale, but then went to Harvard law school to get his J.D. His practice in corporate law lasted for 13 years at Baker & McKenzie including 6 years as Managing Partner at the law firm. During this time he specialized in tax laws, employment issues and business structuring.
Anthony Petrello is married to Cynthia Petrello and they are parents to a young girl named Carena who has cerebral palsy. One of the hardest things for the Petrellos was not being able to provide healing treatment for Carena and being told no cure existed for her condition. But they then joined a new endeavor to join the medical world in researching cures for neurological diseases. The Texas Children’s Hospital has benefited from a $7 million gift from the Petrellos to the Dan & Jan Duncan Neurological Institute and the Petrellos hope the business world will join them in recognizing how important the work at the institute is.