William Herbert Hunt was once one of the wealthiest men on Earth. With his brother, Nelson Bunker Hunt, the billionaire bought more than 195 million ounces of silver -- 60 percent of the U.S. market -- in the 1970s. By early 1980, their stake was valued at more than $9 billion.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Continental Resources Inc. , the oil and natural gas company controlled by Oklahoma billionaire Harold Hamm , boosted planned spending 53 percent to $1.3 billion to accelerate drilling in five states this year.
An energy adviser to Republican Mitt Romney said drilling advances are putting the U.S. on course to emerge “from under OPEC dominance,” while the Obama administration is stalling development with excessive rules.
Chesapeake Energy Corp.’s board withheld Chief Executive Officer Aubrey McClendon’s annual bonus after investors criticized the performance and management of the second-biggest U.S. natural gas producer.