History of Royalty Trusts
Oklahoma businessman T. Boone Pickens created the first royalty trust in 1979 in response to the difficulty that Mesa Petroleum was having in replenishing its oil reserves. Through royalty trusts, he was able to substantially decrease his amount of effective reserves and avoid the difficulty of replenishing them.
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Famous quotes containing the words history, royalty and/or trusts:
“The true theater of history is therefore the temperate zone.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“If there be no nobility of descent in a nation, all the more indispensable is it that there should be nobility of ascent—a character in them that bear rule, so fine and high and pure, that as men come within the circle of its influence, they involuntarily pay homage to that which is the one pre-eminent distinction, the Royalty of Virtue.”
—Henry Codman Potter (1835–1908)
“He that trusts to you,
Where he should find you lions, finds you hares;
Where foxes, geese.”
—William Shakespeare (1564–1616)