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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—Henry David Thoreau (1817–1862)
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—Henry David Thoreau (1817–1862)
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—Thomas Boswell, U.S. sports journalist. “The Church of Baseball,” Baseball: An Illustrated History, ed. Geoffrey C. Ward, Knopf (1994)