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Founders

#338 Monty Moncrief Texas Oil Billionaire

Founders

David Senra

Steve Jobs, Founders, James Dyson, Company Builders, Technology, Henry Ford, Elon Musk, Business Professional Biography, How I Built This, The History Of Entrepreneurship, Jim Clark, Entrepreneurship, Entrepreneurs, History, Founder, Business Autobiography, Jeff Bezos, Entrepreneur, Biography, Biographies Of Entrepreneurs, Biographies, Business, Business Biography

4.81.5K Ratings

🗓️ 13 February 2024

⏱️ 60 minutes

🧾️ Download transcript

Summary

What I learned from reading Wildcatters: A Story of Texans, Oil, and Money by Sally Helgesen.

Transcript

Click on a timestamp to play from that location

0:00.0

In 1978, Moni Moncrief was 84 years old.

0:04.0

He was still very much the patriarch of his clan,

0:06.5

the man who made the decisions in his family and in his family's business.

0:11.0

Family and business were in fact the same thing with him, the desire

0:15.6

to found the one being inseparately tied to the desire to found the other.

0:20.1

When speaking of his business he never mentioned himself specifically.

0:24.7

He would always say, we sign this deal.

0:27.3

We figured out what was best.

0:29.2

This is a we kind of business, he explained.

0:32.1

We don't tolerate any of that eye stuff around here.

0:35.0

In Texas, in the oil business, one sees as nowhere else that the ideal of capitalism is the

0:40.5

ideal of founding a family and conferring the right of inheritance upon it, passing a legacy on.

0:47.0

We're oil men, Monty Mancreef would answer when asked about ranching or about real estate or about anything else.

0:55.0

Were oil men meant that anything which extended beyond the realm of oil

1:00.0

was not a proper moncrief concern. We're a hundred percent family-owned, unincorporated

1:07.0

and independent and we intend to stay that way. In the world of oil promoters one

1:12.1

sometimes meets with independence who have bought and sold their way through six or seven businesses,

1:18.0

who indeed start those businesses with the aim of going public and selling out as soon as possible.

1:23.6

To Mani Moncrief, such a strategy is unimaginable.

1:27.4

Moncrief oil is synonymous with himself, his dynasty. Continuity is what his blood demands. He was at the age of 84 as big and as strong as a bull.

1:39.2

He possessed the directness and the utter simplicity of the old and truly great.

1:45.4

He walked without a stoop and he carried his large frame without a trace of fat.

...

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