Rex Tillerson Net Worth

What is Rex Tillerson net worth?

Rex Tillerson is an American business magnate, civil engineer, diplomat, and politician with an estimated net worth of $320 million. His prominence emanates from his influential tenure as CEO of ExxonMobil and later as the 69th United States Secretary of State in the Donald Trump presidency. Over more than four decades, Tillerson’s career in the energy sector bore an indelible impression with his pivotal contribution in the process of enhancing the global footprint of ExxonMobil and spearheading technologies for energy. As secretary of state, Tillerson leaves an indelible mark on American foreign policy, especially the issues of its energy security and international diplomacy.

Once he became Secretary of State, Tillerson put around $180 million of his Exxon stock into a blind trust. Besides, he sold all his shares held privily in the oil behemoth and then took the proceeds from sale to reinvest in “permitted property,” which largely would be mutual funds and securities. By doing so, Tillerson will be following the agreement which may save him from paying capital gain tax on the divestment.

Early Life and Education

Rex Wayne Tillerson came into the world on March 23, 1952, in Wichita Falls, Texas. Coming from a traditional family, his road began from attaining the rank of Eagle Scout in Boy Scouts of America, going all the way until the prestigious ranking of Distinguished Eagle Scout. He thereafter pursued a course in civil engineering at the University of Texas, Austin, from where he graduated in 1975. This background in engineering would be one of those keys in which he would use to open doors in the oil and gas industry.

ExxonMobil

His career at Exxon Corporation, the predecessor of ExxonMobil, started as a production engineer in 1975. Since then, many years ago, Tillerson has moved through the company in a variety of positions. By 1995, Tillerson was named president of Exxon Yemen Inc., as well as Esso Exploration and Production Khorat Inc., and was an effective manager of its operations in Yemen and Thailand.

That changed in 1999, when Exxon merged with Mobil, and Tillerson took over as an Executive Vice President at ExxonMobil Development Company. During the term in this position, he was in charge of the firm’s upstream operations from different parts of the world. In fact, with ExxonMobil’s forays into new territories under Tillerson’s leadership, Russia was one of the principal areas that would be of mammoth strategic import to the company.

By 2004, Tillerson’s talent had helped him rise to the position of President and member of the Board of Directors at ExxonMobil Corporation. In 2004, he was named President and a member of the Board, then two years later, Chairman and CEO, replacing Lee Raymond. Under Tillerson’s leadership, he pursued advancement in emerging energy technologies, such as carbon capture and storage, combined with the increase of production of the company’s natural gas.

Of course, the amount he was paid during his last year serving as CEO of Exxon stands from all years. A salary of $27.5 million is not something that any person can just ignore; it reflects huge effort and leadership during his stay.

Relationship with Russia

Tillerson developed close relations with senior governmental officials in Russia and top-echelon business oligarchs, specifically noting Russian President Vladimir Putin. In a critical move in 2011, Tillerson signed a blockbuster deal with Rosneft, Russia’s state-owned oil firm, to work together on joint oil exploration and development projects in the Arctic and the Black Sea. These landmark cooperation initiatives were lauded as great strides in strengthening relations between the two energy behemoths, and Tillerson reaped accolades, of which perhaps the most well-known is the Russian Order of Friendship that he received from Putin in 2013.

The alliance, however, did face stumbling blocks when the US imposed economic sanctions on Russia over its annexation of Crimea in 2014. The sanction was an obstacle to the enormous progress of the joint venture and had severe consequences for ExxonMobil investments in Russia. Still, Tillerson’s view remained realistic toward Russia, and the engagement and dialogue agenda persisted to push ahead by the secretary in consideration of the hard landscape.

Secretary of State

On December 13, 2016, the then President-elect, Donald Trump, nominated Rex Tillerson for the position of the 69th United States Secretary of State. His nomination provoked mixed feelings, some of the critics being concerned over his utter inexperience in the government and cozy relations with the Russian government. However, he was confirmed by the Senate on the 1st day of February 2017 by voting 56-43 despite the debates.

As secretary of state, his top agenda was focused on energy security, counterterrorism, and international diplomacy. He played a key role in the Trump administration’s efforts to keep pressure on North Korea that eventually led to the 2018 summit between Trump and North Korean leader Kim Jong Un. Tillerson has also advocated for a much tougher line with Iran, saying that the Iran nuclear deal should be renegotiated because it does not do enough to rein in Iran’s ballistic missile program and its support of terrorism.

However, Tillerson faced internal challenges as well. His efforts to reinvent the State Department and make budget cuts ran into a lot of opposition, coming not only from career diplomats but also from some congressmen.

He had, however, had a deteriorating relationship with President Trump, of whom he also had loggerheads over the Paris Climate Agreement, among many other foreign policies and how to handle the Qatar diplomatic crisis. However, Tillerson would continue to urge diplomacy and dialogue as he reaffirmed that the international community has to come together on challenges that are eminent for the world. He played a leading role in the Global Coalition to Defeat ISIS through working with international partners to annihilate the terrorist organization.

Moreover, Tillerson was the point man for the administration’s foreign-policy priority: building relations with critical allies in the Asia-Pacific, while forging partnerships in Africa and Latin America. President Trump announced the ouster of U.S. Secretary of State Rex Tillerson on Twitter on March 13, 2018. He also said that Mike Pompeo, then the CIA director, would take over from Tillerson.

Post-Government Life

After leaving the Trump administration, he went back to private life and occasionally held public speaking events as an expert commentator on world events and strategies dealing with energy. Additionally, he has contributed to philanthropy with service on the boards of the Center for Strategic and International Studies, a premier think tank of Washington, D.C. Tillerson has also maintained his long-term relationship with the Boy Scouts of America, thus signifying his long-term commitment toward youth development and community service.

Personal Life

In 1986, Tillerson married his high school love, Renda St. Clair, marking the beginning of life with a partner. He is married and has four children, and this is the marriage through which he has been able to create a family tie that is strong, most definitely being the source of strength for him in his personal and professional life. He attests to the fact that the family support received has been unending.

Outside the boardroom, his passions belong to the great outdoors. He is an avid outdoorsman, seeking succor and diversion in horseback riding, hunting, and fishing, all designed to tap nature’s bounty for relaxation and rejuvenation.

Texas Mansion

Last in June of 2019, Rex and Renda Tillerson made headlines when they bought a sensational 16,000 square foot estate located in the heart of Westlake, Texas. The sprawling mansion had been owned by retired baseball star Vernon Wells, who had it meticulously built, ground up, and had completed the project in 2010. It had been listed at just under $10 million in July 2017, and Wells ultimately agreed to an undisclosed sum from the Tillersons after he had cut the price to $8.5 million.

Quick Summary

1. Rex Tillerson is an American energy magnate, civil engineer, diplomat, and politician, with a net worth of $320 million. His prominence was mainly achieved through his influential career as CEO of ExxonMobil and thereafter as the 69th United States Secretary of State under President Donald J. Trump. During his more than four-decade-long career in the energy business, Tillerson established an indelible legacy that epitomizes his pivotal contributions towards strengthening the global presence and leadership of ExxonMobil in cutting-edge advancements in energy technologies. Tillerson was seen as a very strong secretary of state in serious influence on the course of American foreign policy, especially with regard to energy security and global diplomacy.

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