T. Boone Pickens Is No Longer a Billionaire, Forbes Says

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David Shankbone
You don't hear T. Boone Pickens talk much about wind energy, once the cornerstone of his plan for U.S. energy independence. It's not so much that he's given up on the idea of wind as a key component of the country's future energy portfolio as that his recent forays into the market have been disastrous.

In Texas, his plan for the world's largest wind farm was tripped up by the recession and regulatory hurdles. The investment he made instead, in a proposed Minnesota wind farm, went little better.

He summed it up nicely in an interview last year with MSNBC's Morning Joe: "I've lost my ass in the business."

See also: Meet the Dallasites Who Made Forbes' List of Wealthiest Americans

He's also lost many, many millions of dollars, enough that Forbes has officially stripped him of the billionaire mantle, knocking his net worth down to $950 million.

A crushing blow for Pickens, who must suffer the indignity of being a common multi-millionaire and not having his name plastered on every building in downtown Dallas. Feel free to express your condolences by paying $7 million for his Preston Hollow mansion.

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30 comments
lzippitydoo
lzippitydoo

I would bet Master Boone is still a billionaire. What does Forbes know?? He has done a magnificent job as a steward of his wealth, donating to universities, medical schools and other worthy causes! These have been meaningful gifts and if that means he isnt on the top 400 list - that means he is doing something with his assets!

JohnJay24
JohnJay24

I would like to know specifically what type of regulatory hurdles he ran into. What would they consist of... and considering it is wind energy why do they exist?

Kenneth W. Jordan
Kenneth W. Jordan

Really... what else on earth will that bank think is real...

Michael TruckMonth Ricker
Michael TruckMonth Ricker

@Drake The first million is the hardest. @boonepickens The first billion is a helluva lot harder That it is. That it is.

Kimberly Heard
Kimberly Heard

This is so much worse than those Navy murders! Tragedy.

Catherine Parkinson
Catherine Parkinson

In his own words: "Don't worry. At $950 million, I'm doing fine. Funny, my $1 billion charitable giving exceeds my net worth. @Forbes @RMac18"

Yale Eliot Johnson
Yale Eliot Johnson

I wouldn't say he's ruined. Nothing is in hock, and he's a far cry from his, "ruined," days, when he, "only," had $75MM, and he had to eat out every day at Bob's on Lemmon.

Treeca Pate
Treeca Pate

Awe too bad. Just a millionaire. Right?

Alejandro Monjaras
Alejandro Monjaras

We should all chip in and donate some money to get him back on top.

Brian Chestnut
Brian Chestnut

what happens when you are surrounded by "yes" people for too long.

Ryan Blansett
Ryan Blansett

Guess getting Okie St. football players laid cost more than I thought.

Yale Eliot Johnson
Yale Eliot Johnson

He'll be fine. He's still got half of West Texans' water rights.

Clarissa Nicole
Clarissa Nicole

It's so awful that he's now only worth $950 million. Tragic.

Myrna.Minkoff-Katz
Myrna.Minkoff-Katz topcommenter

I admire Pickens' generosity and commitment to the environment.

scottindallas
scottindallas topcommenter

@JohnJay24 it was with is desire to have the state build out state of the art power lines to move that "wind power" from the panhandle to the Cities.  Wind power doesn't work in TX, it provides about 8% of our power, and keeps the dirty polluting coal plants working

boodgieman
boodgieman

@JohnJay24 My first thought, too.  "Regulatory hurdles" is a real thing in Texas?

Papa_John
Papa_John

@Myrna.Minkoff-Katz 

So you hate birds (especially the migratory species) as much as your cats do? Sorry about your mental disorder.

Sharon_Moreanus
Sharon_Moreanus topcommenter

Um...yes it does.

Texas will have 25% of our power from wind in two months when the 3,600 miles of transmission line is finish from the panhandle.

Sharon_Moreanus
Sharon_Moreanus topcommenter

Your not listening and you keep talking about your 8%.

The lines will be here from the pan handle

I'm on vaca in Bull Shoals. The trout, wallies, and lmb are treating us well...

scottindallas
scottindallas topcommenter

@Sharon_Moreanus No Sharon.  Check ERCOT.  8% during the Summer when we have peak demand.  Two hamsters on a wheel could generate our electricity demand in Oct.  The problem with wind is that when it's hot, we have the "Cap" over us, and there's no wind.  SOLAR makes great sense for TX.  But, wind has been a total bust.  For what we've spent on Wind.  We could have razed the dirty coal plants and built new cleaner natural gas.  But, we can't cause we need the dirty coal plants to provide that power during peak demand, which is when we have ozone days, and when the wind ain't blowing.  I'm an organic gardener by trade.  I know you can't just throw organic stuff in the yard and expect it all to work well.  Not everything that's green makes sense for every application--unless you listen to Howard Garrett who seems to have one solution for a plethora of problems.  

 Greenwashing isn't green

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