These Energy Tycoon Brothers Insist Fracking Is Good For The Environment | Forbes
EQT Corp. is a venerable player in the energy business, going back 133 years to the earliest days of gas drilling in Pennsylvania, with headquarters in a granite-and-glass tower in Pittsburgh. But you’d never guess that from a visit to the office of Toby Z. Rice, its 39-year-old chief executive. Rice works out of a converted taekwondo studio upstairs from a state-run liquor store in suburban Carnegie, Pennsylvania, 15 minutes away from the city center. The dojo features a life-sized Iron Man sporting a gorilla mask on its head, graffiti-inspired art and a “Don’t Tread on Me” Gadsden flag.
How did this unconventional Millennial end up running the country’s largest producer of natural gas? By teaming up with family, lucking into the Marcellus shale formation at the right time and making very big bets.
Toby Rice’s partners in gas exploration are his brothers Daniel, 41, and Derek, 36. The capital that launched them was $70 million in loans from a trust funded by their father. They have done well parlaying that stake; the three are now worth more than $700 million.
The Marcellus is a shale deposit stretching underground from New York to West Virginia. Fracking technology made this layer of rock valuable overnight, just at the time the brothers were getting into the gas business.
Read the full story on Forbes: https://www.forbes.com/sites/christopherhelman/2021/12/14/these-young-energy-moguls-insist-fracking-is-good-for-the-environment/?sh=65f0f6c54a53
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Видео These Energy Tycoon Brothers Insist Fracking Is Good For The Environment | Forbes канала Forbes
How did this unconventional Millennial end up running the country’s largest producer of natural gas? By teaming up with family, lucking into the Marcellus shale formation at the right time and making very big bets.
Toby Rice’s partners in gas exploration are his brothers Daniel, 41, and Derek, 36. The capital that launched them was $70 million in loans from a trust funded by their father. They have done well parlaying that stake; the three are now worth more than $700 million.
The Marcellus is a shale deposit stretching underground from New York to West Virginia. Fracking technology made this layer of rock valuable overnight, just at the time the brothers were getting into the gas business.
Read the full story on Forbes: https://www.forbes.com/sites/christopherhelman/2021/12/14/these-young-energy-moguls-insist-fracking-is-good-for-the-environment/?sh=65f0f6c54a53
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Видео These Energy Tycoon Brothers Insist Fracking Is Good For The Environment | Forbes канала Forbes
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
KPMGVoice: Modumetal - The Great Rewrite (Chapter 1) | ForbesAnother Economic Train-Wreck Is Coming In CaliforniaInside NBA’s Jerami Grant's Investment In Major League SoccerCole Sprouse's Lessons On Reinvention In Hollywood | ForbesHow An Aussie Billionaire Went From The Housing Projects To Making Blackmagic Movie Cameras | ForbesMadison Beer | Live From ForbesBryan Cranston Makes His Favorite Drink: The Cranstonian | ForbesJon Bon Jovi's Secret Masterpiece: Inside The JBJ Soul Kitchen | ForbesDavido Shares His Career Journey And Thoughts On The Global Business Of AfrobeatsThis Couple Gave Away $500,000 Worth Of Comic BooksThe Weeknd's XO Crew Is Building Up Toronto's Creative Scene | ForbesNick Devane Wants To Democratize Food And Beverage Startups - 30x100 | ForbesHow Conna Walker Carved Out Her Own Path With House Of CB | ForbesThe 10 Biggest Fintech Companies In America In 2022 | ForbesNvidia CEO Jensen Huang Isn't The Only One Scoring Big, Thanks To Rising StockMerge Or Perish: Why Billion-Dollar Fintech Companies Are Suddenly Facing A Bleak Future | ForbesShe Revised A Business Model And Now This Atlanta Retailer Profits By Helping Black SolopreneursHow Billionaire Toto Wolff Built Mercedes’ F1 Team Into An Auto Racing DynastyThis Entrepreneur Made A Job Site That College Students Are Using Instead Of LinkedIn | ForbesMattress Mack Wins Record-Breaking $75 Million on Astros World Series Bet | ForbesHow Tyler Perry Became A Billionaire | Forbes