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Blame wind as Pickens’ wealth sinks 

Credit:  Richard A. Kessler | Recharge News | Tuesday, September 17 2013 | www.rechargenews.com ~~

T. Boone Pickens is no longer a billionaire after falling natural gas prices caused his wind energy investments to plunge in value, dropping his net worth to an estimated $950m, according to Forbes.

The magazine says that Pickens’ fortune fell below $1bn for the first time since 2005.

Forbes on Monday released its annual compilation of the richest 400 people in the United States. It listed Bill Gates of Microsoft as the richest person in the US for the 20th consecutive year.

Forbes notes that Pickens had told television station MSNBC’s “Morning Joe” program that he had “lost [his] ass in the [wind] business.” He did not quantify those losses.

Pickens, who is based in Dallas and is among the nation’s best-known businessmen, had no immediate comment

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Source:  Richard A. Kessler | Recharge News | Tuesday, September 17 2013 | www.rechargenews.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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