Giving back to the society is good for the soul. The move is beneficial to both the community and the businesses involved. Tony Petrello is one of the few successful CEOs whose charity activities are way above.
Tony, as often referred to by many is the president and chief executive officer of Nabors Industries, an oil and gas drilling company. The name Petrello is prominent across the globe as one of the highest paid CEOs in the U.S.
Tony Petrello has been serving Nabors for the past two decades, and his contributions to the oil drilling industry can never go unnoticed. Surprisingly, even with a busy schedule, Tony still finds time to engage in charitable acts and support philanthropic causes he promotes. His love for the medical industry and research is unquestionable. About a decade ago, Tony and his wife donated $7 million to support the Jan and Duncan Neurological Research Institute. The institute is located at the Texas Children’s Hospital of Houston.
The NRI focuses on finding the way around neurological issues in infants, its causes and treatments. As many would say, the couple’s donation was personal because of their daughter Carena. Carena was diagnosed with periventricular leukomalacia, a condition that is triggered by premature birth. The disease causes many impairments such as difficulty with speech, walking, feeding, and delayed motor skills.
Carena’s condition is similar to that of others around the world. However, Tony Petrello was frustrated to find that doctors are aware of the conditions yet they have no solution. The frustration saw him support the study of neurological problems to come up with a treatment for his daughter and other children around the world undergoing the same struggles. Tony’s first $7 million donations came in 2006. It was to be used to sponsor the NRI’s development and expansion. Often, Tony continues to support the foundation in the best ways he can.
Today, Petrello serves as a member of the board of trustees of the hospital and is committed to improving the hospital and its research. The NRI’s project is not the only charity acts that Tony engages. As Yale alumni, Petrello contributed $150000 to its annual prize offered to promising students at his alma mater. Tony promises to continue supporting the awards in memory of professor Serge Lang. The celebrated professor was Tony’s mentor in the 70’s when he was a freshman.
Besides, Tony and Nabors Industries have been associated with many charitable activities. For instance, after Hurricane Harvey, Nabors offered paid free time to its employees so that they would go and offer relief support to the affected communities along the Gulf Coast. The move was significant and generous to the community, and it is this and many others that have seen Tony Petrello and Nabors continue to thrive. Today, Nabors Industries is among the world’s largest oil and gas contractors. The oil company has continued to show a steady growth pattern, and as many would say it is because of Tony’s significant involvement.
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