Watch CBS News

Last Great Texas Oil Tycoon Dies

Clinton Manges, South Texas Rancher and one of Texas's last great oil tycoons, has died.He passed away Thursday in San Antonio at the age of 87 after he amassed and lost a billion dollar fortune.  He filed for Chapter 11 bankruptcy after owing nearly $89 million to creditors, was evicted from his 100,000 acre ranch in Duval County, and in the mid-1990s was convicted and sent to prison for conspiracy to commit mail fraud. His daughter, MaLou Manges told the San Antonio Express-News, "My father was a perfect example of how far being an ornery old bastard can take you."

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.