Billionaire Hilcorp owner hosts fundraisers for Trump, who wants industry to give him $1 billion
Alaska news organizations and political leaders have never paid enough attention to Jeff Hildebrand, though he is the single most important player in the Alaska economy and one of the richest men in America.
Presidential candidate Donald Trump asked the oil and gas industry this year to give $1 billion to Trump’s campaign as a “deal.” He promised to reward industry owners with tax cuts and other government actions—an exchange that sounds exactly like bribery.
Hildebrand was one of four oil tycoons who hosted a Houston fundraiser for Trump in May at which the host committee members gave $250,000 each or $500,000 per couple, the Financial Times reported.
“The Hildebrand event on Tuesday raised funds for causes including the Trump campaign and a group that pays the ex-president’s legal bills, and was co-hosted by Fertitta, helicopter baron Al Gonsoulin, hospitality chief Emerson Hankamer and auto magnate John McGill,” the newspaper said on May 22.
At one of the oil events, “When one chief executive complained about the Federal Trade Commission’s months long investigation into a recent deal by the executive’s company, people familiar with the meeting said Trump asked, “Can you wait five months?,’” the Wall Street Journal reported.
In August, Hildebrand co-hosted a fundraiser for Trump in Aspen, where Hildebrand has his own polo grounds and owns a ranch that once belonged to singer John Denver. The cost to serve on the host committee at that Trump event was also $500,000 per couple, the Daily Beast reported.
On its running tally of the richest of the rich, Forbes says Hildebrand is currently worth about $7.6 billion, which is more than what he paid to buy BP’s Alaska assets, a deal sweetened by BP loaning $2 billion to Hildebrand.
Bloomberg puts his wealth at $17.7 billion, as the 119th richest of the world’s billionaires.
Among his many assets, Hildebrand owns the 56,000-acre Sweden Ranch in South Texas, one of the largest contiguous ranches in the state. The Hildebrands objected last year to the building of a high-voltage transmission line on that ranch in part because it would be an “esthetic disturbance” for the owners, their guests and employees. It would also make it harder to herd cattle with helicopters.
This summer a private equity fund controlled by Hildebrand proposed a $2 billion cash offer to take over the Remington ammunition brand before withdrawing the proposal. Hildebrand owns the JDH Capital private equity fund.
Hildebrand plans to co-host a cocktail reception in Houston Oct. 2 for Trump, according to the New York Times.
The oil and gas industry has done well under President Biden, though the industry and its Republican backers claim otherwise, knowing they would make more money with Trump back in the White House.
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