With a net worth estimated at more than $1.5 billion, Tom L. Ward is one of the wealthiest people in the world. His wealth is derived primarily from his business success as the founder and chief executive officer of SandRidge Energy, an oil and natural gas exploration and production conglomerate. While Ward has been widely celebrated for his success, many people don’t know the full story behind his immense wealth. This blog post aims to explore the staggering net worth of Tom L. Ward and the facts behind his well-deserved success.
Early Life and Education
Thomas Lee Ward was born on May 9, 1957, in Oklahoma City, Oklahoma. As a child, he showed an early aptitude for business. During his teenage years, he worked as a paperboy and at a service station to earn extra money. After graduating from high school in 1975, Ward enrolled in the University of Oklahoma. He earned a bachelor’s degree in business administration in 1979.
Early Career: Working at Monsanto
After college, Ward went to work for the agrochemical and agricultural biotechnology corporation Monsanto. During his tenure at Monsanto, he worked his way up the corporate ladder and eventually served as the president and chief operating officer of the company’s agricultural division. From 1993 to 1998, Ward worked as the president and chief executive officer of Monsanto’s European division.
Starting SandRidge Energy
In 1998, Ward left Monsanto and founded SandRidge Energy. SandRidge is an exploration and production company focused on acquiring and developing oil, natural gas, and other mineral assets in the United States. The company’s headquarters are located in Oklahoma City and they have satellite offices in Houston and Denver.
Leading SandRidge Energy
As the founder and CEO of SandRidge Energy, Ward has built the company up from nothing to become a major player in the oil and gas industry. Under his leadership, the company has grown to become one of the largest exploration and production companies in the United States. Since 1998, Ward and his team have acquired more than $10 billion worth of oil and gas assets. He has also expanded the company’s footprint to include area in the United States Gulf Coast, Alaska, and the Rocky Mountains.
Successful Business Deals
In 2012, SandRidge Energy acquired oil and gas assets from SandRidge Mississippian Trust, a publicly traded royalty trust, for $1.3 billion. This was one of the most lucrative deals in the company’s history and it greatly increased the company’s value and net worth. In 2013, the company sold off its non-core assets for $2.2 billion, which provided a huge boost to the company’s balance sheet.
Compensation Package
In 2013, Ward’s compensation package from SandRidge Energy totaled $28.3 million. This included base salary, bonuses, stock options, and other forms of incentive compensation. Ward has also reaped dividends from the company’s stock, which has increased in value since he took over as the company’s CEO in 1998.
Philanthropic Activities
Ward is a staunch supporter of several charities and non-profit organizations in Oklahoma. He is a board member of the Oklahoma City Community Foundation, which raises funds to support education, health, and human services. He is also a member of the Oklahoma City Zoo and Botanical Garden, and he has donated millions of dollars to both organizations.
Personal Life
Ward is an avid golfer and enjoys travelling in his spare time. He currently resides in Oklahoma City with his wife, Kathy. The couple has two sons, Tom Jr. and Matt, and a daughter, Rachel.
Conclusion
Tom L. Ward is one of the wealthiest people in the world, and his immense wealth is derived primarily from his success as the founder and chief executive officer of SandRidge Energy. From his humble beginnings to his generous philanthropy, Ward has worked hard to achieve his success. His tremendous wealth and accomplishments are a testament to his knowledge, business savvy, and savvy investments.
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