| Name: | Thomas O’Malley |
| Net Worth: | $1 billion |
| Source of Wealth: | Premcor |
| Born: | 1943 |
| Age: | |
| Country: | USA |
| Wife: | Mary Alice |
| Children: | 4 |
| Residence: | Palm Beach |
| Private Jet: | Pls send a message if you have info |
| Yacht: | MARY A |
Thomas O’Malley was born in New York in 1942. He is married to Mary Alice, they have 4 children.
Thomas O’Malley, a self-made man with a working-class background, rose to prominence as a successful commodities trader and a leading figure in the independent refining industry. Born and raised in New York City, O’Malley financed his college education by driving taxis and school buses. He started his career in the mailroom at Philipp Brothers, a commodities-trading company, and eventually moved to Salomon’s oil-trading division. After a decade in the industry, O’Malley founded Argus Investment.
The 1987 stock market crash presented a golden opportunity for O’Malley and his partners to acquire a large stake in Tosco Corporation. O’Malley later became the chairman and CEO of Tosco, where he developed a unique strategy that propelled the company to the top of the independent refining industry in the United States.
O’Malley’s game-changing approach involved acquiring refineries at a fraction of their replacement cost, increasing efficiencies, cutting costs, and achieving the highest return on capital among independent US refineries. His leadership and sense of responsibility were evident, particularly after a fatal accident at a Tosco refinery in Avon, California. O’Malley successfully built Tosco into the largest independent refinery in the US before selling it to Phillips Petroleum for $7.36 billion.
In 2002, O’Malley took the helm as chairman and CEO of Premcor, a privately-owned refinery. Implementing his proven low-cost business model, he led the company to a successful initial public offering (IPO) in 2002, raising $432 million and achieving a market capitalization of over $1.4 billion. Under his leadership, Premcor made several acquisitions, including the Williams Companies’ Memphis refinery and the assets of a Delaware City refinery from the Shell-Saudi Motiva Enterprises joint venture.
The self-made billionaire reportedly has a net worth of $1 billion. He has not only made a name for himself in the commodities trading and independent oil refining industries but has also been an active philanthropist. Throughout his illustrious career, he has dedicated a significant portion of his wealth to various charitable endeavors. One of his most notable philanthropic contributions is a generous $25 million gift to Manhattan College’s School of Business. This transformative donation has significantly impacted the institution, enabling it to expand its educational offerings and resources. O’Malley’s commitment to philanthropy highlights his dedication to giving back to the community and investing in the future of education.
Thomas O’Malley’s toughness and commitment to cost-cutting earned him a reputation for being hard-nosed. However, his leadership and success in the oil industry also garnered significant respect and admiration among investors, solidifying his status as a true icon in the independent refining sector.
He lives with his wife Mary Alice in a large ocean front mansion in Palm Beach.
Palm Beach, Florida, is a picturesque and affluent coastal town known for its pristine beaches, upscale shopping destinations, and luxurious mansions. Located on a barrier island in southeastern Florida, Palm Beach offers a perfect blend of natural beauty, culture, and sophistication. Visitors can enjoy sun-soaked days on the sandy shores, explore the lush botanical gardens, or immerse themselves in the rich history at the Flagler Museum. With its opulent architecture and vibrant social scene, Palm Beach is a true gem of Florida’s Gold Coast, attracting tourists and celebrities alike.
He is the owner of the yacht MARY A.
The yacht MARY A boasts a rich history and remarkable design. Built by renowned shipbuilder Feadship in 2005, this vessel was originally named Twizzle. The esteemed DE VOOGT designed her sleek exterior, while her interior was masterfully crafted by RWD. Previously known as Drizzle, Madsummer, Cynthia, and Issana, she is now registered in the Cayman Islands.
MARY A is powered by reliable Caterpillar engines, providing a maximum speed of 16 knots and a comfortable cruising speed of 12 knots. With a range exceeding 4,800 nautical miles, this yacht is perfect for long-distance voyages.
We have not yet been able to identify his private jet. But please do send us a message if you have information about his business jet. The photos hereunder are just samples of some of the most successful private jets on the market.
(Photos by JetPhotos.com, Planespotters.net ; flightaware.com; flickr.com; picssr.com; planefinder.net ) Do you want us to remove a certain photo? Or credit a source? Please send us a message
Yacht Owners Database 2024
