Welcome to World of CEOs! Today, we’re delving into Ed Story Jr’s net worth, exploring the financial acumen and strategic decisions that have bolstered his wealth.
Join us as we unveil the story behind the success of this oil magnate.
Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Edward T. Story Jr. |
| Popular Name | Ed Story Jr. |
| Gender | Male |
| Birth Date | November 7, 1943 |
| Age | 80 (passed away on December 27, 2023) |
| Parents | Edward Story Sr., Mildred Story |
| Siblings | N/A |
| Birthplace | Hillsboro, Texas |
| Nationality | American |
| Ethnicity | N/A |
| Education | Trinity University, UT Austin |
| Marital Status | Married |
| Sexual Orientation | N/A |
| Wife/Spouse | Joey Story |
| Children | 3 |
| Dating | N/A |
| Net Worth | N/A |
| Source of Wealth | Oil and Gas, Entrepreneurship |
| Height | N/A |
What is the Net Worth of Ed Story Jr. in 2024?
As of 2024, the exact net worth of Ed Story Jr. is not publicly available. His substantial career in the oil and gas industry, including founding SOCO International, suggests significant wealth.
However, specific figures are confidential.
Ed Story Jr. Finance Overview
Early Career and Financial Foundation
Edward Story Jr. began his illustrious career as a financial analyst at Esso, which later became Exxon-Mobile. This role laid the groundwork for his financial acumen and business strategies.
The initial salary and benefits he received from this position enabled him to make prudent investments that would later pay off significantly.
Rise Through Exxon-Mobile
Ed’s rapid ascent through the ranks at Exxon-Mobile is a testament to his expertise and dedication. He gained prominence in the financial sector of the company, receiving promotions and salary increments that contributed to his wealth.
Managing domestic refineries and later all domestic exploration and production, Ed oversaw operations that produced over a million barrels of oil per day, enhancing his financial portfolio.
Entrepreneurial Ventures
In the 1980s, Ed left Exxon-Mobile to co-found Conquest Exploration and later, SOCO International. These ventures marked the beginning of his significant financial success.
Raising over $700 million in capital for Conquest Exploration and negotiating lucrative deals in Canada, Tunisia, and Oman, Ed’s entrepreneurial spirit was clearly evident.
His solo venture, Thaitex Petroleum, in the Gulf of Thailand further solidified his reputation as a formidable businessman.
Global Business Ventures
Ed’s career took him across the globe, from Thailand to Mongolia. He negotiated deals in some of the most challenging regions, including Russia, Angola, Congo, and Iraq.
These ventures were not without risks, but Ed’s fearlessness and sharp business acumen ensured their success. The profits from these international deals significantly bolstered his net worth.
Philanthropic Contributions
Ed’s philanthropy was as extensive as his business ventures. He and his wife Joey were passionate about education and wildlife conservation.
They set up scholarship programs, funded The Elephant Story to support elephant conservation in Thailand, and contributed significantly to the Cleveland Clinic for skin cancer research.
These philanthropic efforts, while reducing his net worth, enhanced his legacy and impact on the world.
Real Estate and Personal Assets
One of Ed’s significant investments was his ranch in Center Point, Texas. Initially a modest 69-acre property, he expanded it over the years to over 1,500 acres.
This ranch became a valuable asset, reflecting his financial acumen and love for nature. Besides the ranch, Ed owned other properties that added to his wealth.
Financial Legacy and Estate Planning
Ed’s financial legacy extends beyond his personal wealth. He meticulously planned the distribution of his assets to benefit his family and the causes he supported.
His contributions to educational programs and wildlife conservation will have a lasting impact. The estate planning ensured that his wealth would continue to support these initiatives long after his passing.
FAQs about Ed Story Jr.
Who is Ed Story Jr.?
Ed Story Jr. is the President and CEO of SOCO International Plc, a company he founded.
He has a long career in the oil and gas industry, with significant experience in leadership roles at various companies including Snyder Oil Corporation and Conquest Exploration Company.
What is SOCO International?
SOCO International is an oil and gas exploration and production company, listed on the London Stock Exchange. It focuses on operations in Vietnam, Egypt, and other regions. The company underwent a rebranding and is now known as Pharos Energy.
What are some key achievements of Ed Story Jr.?
He is known for establishing SOCO International and leading it to significant growth, including its listing on the London Stock Exchange.
He has also overseen major acquisitions, such as that of Merlon Petroleum, which expanded the company’s operations into Egypt.
What was the impact of the Merlon Petroleum acquisition?
The acquisition of Merlon Petroleum for approximately $215 million created a new hub for SOCO’s business in Egypt.
This move was strategic for further growth in the MENA region, bolstering the company’s portfolio and operational reach.
How did Ed Story Jr. start his career?
He began his career with Exxon Corporation, where he held various positions. His extensive experience in the oil and gas sector spans several decades, contributing to his reputation as a seasoned industry leader.
What is SOCO International’s focus in Vietnam?
In Vietnam, SOCO International, now Pharos Energy, focuses on the Te Giac Trang and Ca Ngu Vang fields.
These fields are among the largest oil producers in the country, highlighting SOCO’s significant investments and operational success in the region.
What was the significance of the name change to Pharos Energy?
The name change to Pharos Energy in 2019 reflected a strategic rebranding effort. This move aimed to better represent the company’s broader geographical focus and its commitment to sustainable energy practices.
What are the future plans for SOCO International under Ed Story Jr.’s leadership?
Under Ed’s leadership, SOCO International, now Pharos Energy, plans to continue its expansion in key regions such as Vietnam and Egypt.
The company aims to enhance shareholder value through strategic acquisitions and operational excellence.
How has Ed Story Jr. influenced the oil and gas industry?
He has been a pivotal figure in the oil and gas industry, particularly through his leadership at SOCO International. His strategic vision and successful execution of complex projects have set benchmarks for the industry.
What challenges has SOCO International faced?
SOCO International has faced several challenges, including regulatory hurdles and market fluctuations. However, under his guidance, the company has navigated these challenges through strategic planning and robust operational management.
Conclusion
Interested in Ed Story Jr and other wealthiest individuals globally? His financial journey offers a unique glimpse into the elite circle. For more exclusive insights, keep exploring at worldofceos.com.
