Boone Pickens Donates 5 Million to American Red Cross Relief Efforts

American Red Cross
Monday, 5 September 2005

Boone Pickens, founder and CEO of BP Capital based in Dallas, Texas donated $5 million dollars to the American Red Cross Hurricane Katrina response. This donation also includes contributions from employees in his company. Pickens is challenging other individuals and corporations to channel their compassion through the American Red Cross so that thousands of residents spanning eight states will have a safe shelter and receive warm meals and fresh water.

"I'd like to personally thank my friend Boone Pickens and the employees of BP Capital for their truly generous and touching gift," said Bonnie McElveen-Hunter, Chairman of the American Red Cross. "This significant contribution will help us shelter and feed thousands of people whose lives are devastated by Hurricane Katrina. The time is right….our mission is critical…and all the right partners are in place. United together, we can reach more and save more lives."

Boone Pickens is founder and CEO of BP Capital, which manages energy-focused investment funds. The company was established by Pickens in 1996, the year he left Mesa Petroleum, the oil and gas company he founded and ran for four decades. The 25 employees of BP Capital also have been generous contributors to the relief effort and provided a sizeable portion of the overall $5 million contribution, the Red Cross said.

"You cannot help but be struck by the magnitude of this disaster," said Pickens. "The American Red Cross is on the front line of this recovery effort. I'm grateful for the opportunity to help advance their mission and I appreciate the contributions from so many of our employees and their families. I'm hopeful this will help spur other donations from companies large and small. As a nation, this is a critical time to pull together and help this hard-hit region recover from this disaster."

In response to Hurricane Katrina, the American Red Cross has opened 275 shelters over an eight-state-area and is sheltering and feeding more than 76,000 individuals. We will continue to provide a safe place for people to stay for as long as help is needed.

The American Red Cross is where people mobilize to help their neighbors—across the street, across the country and across the world—in emergencies. Through 851 locally supported chapters nationwide, more than 15 million people learn to prepare for and respond to emergencies. Some 4 million people give blood through the Red Cross. An average of 91 cents of every dollar the Red Cross spends is invested in humanitarian services and programs. The Red Cross is not a government agency and relies on donations of time, money, and blood to do its work. Marsha J. Evans is the President and CEO and Bonnie McElveen-Hunter is Chairman of the American Red Cross.

For more information, or to contact American Red Cross, see their website at: www.redcross.org

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