| Glenn Mccarthy |
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| CATEGORIES ABOUT GLENN MCCARTHY | |
| 1907 births | |
| 1988 deaths | |
| american oil industrialists | |
| people from the beaumont-port arthur metropolitan area | |
| american businesspeople | |
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EARLY LIFE McCarthy was born . With a football scholarship, he attended Tulane University , but suffered a leg injury. Afterward, he attended other institutions such as Texas A&M and Rice University before dropping out of college to venture into business. When he was 23, he married the daughter of William Lee, an oil businessman of the Yount-Lee Oil Company . Together with his wife Faustine, they had five children. Glenn claimed that when he first got married, he had less than $1.50 to his name.Robert L. Gaston. " Glenn McCarthy, "King of the Wildcatters" ." ''DrillingInfo Community.'' Retrieved on 2006-11-26 . BUSINESS VENTURE INTO OIL Within a year, he talked his father and brother into working with him drilling for oil in Hardin County, Texas . The first attempt failed to hit oil, but that did not discourage Glenn. He made another drilling attempt farther south near Anahuac two years later, which succeeded. The next ten years (1932 onwards) would prove to the oil industry why he was a prospector worthy of the nickname "King of the Wildcatters" as he would strike oil thirty-eight times. In 1941, he bought land where the future Astrodome would be built, and 4,800 acres of property of what is now Sharpstown . Over the next four years, his endeavoring would establish 11 more new oilfields along with the expansion of several other existing ones. LAVISH LIFESTYLE By 1949, McCarthy was worth an estimated $200 million. That year he went on to build the Shamrock Hotel , spending $21 million for its construction in Houston, and another $1 million to throw what some called "Houston’s biggest party" for the grand opening.Staff Writer. " The Tallest Texans - Glenn McCarthy ." '' Houston Chronicle .'' Retrieved on 2006-11-26 . This party involved Hollywood celebrities, many of whom were flown in to Houston Municipal Airport on his newly owned Boeing 307 Stratoliner airplane that was acquired from Howard Hughes .Staff Writer. " Houston’s Aviation History Timeline ." ''The Houston Aeronautical Heritage Society.'' Retrieved on 2006-11-26 . The next three years meant financial trouble for McCarthy. The SEC scrutinized him when he attempted to market ten-million shares of his new company ''Glenn McCarthy, Inc.'' He had defaulted on his payments of some of his debts and promissory notes to other firms.Staff Writer. " Trouble for McCarthy ." ''.'' Retrieved on 2006-11-30 . LATER LIFE AND ACTIVITIES Glenn McCarthy started his own brand of Bourbon Whiskey under the label "Wildcatter". In addition to owning the KXYZ Radio station in Houston, he owned two banks, the ''McCarthy Chemical Company'', a magazine, 14 newspapers, and a movie production company known as ''Glenn McCarthy Productions''. He served as chairman of the now defunct Eastern Air Lines and president of the United States Petroleum Association. For the most part, he spent his later life out of the spotlight in the La Porte area near Houston. He died on December 26 , 1988 . CULTURAL DEPICTIONS
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