Michael Late Benedum
Michael Late Benedum | |
|---|---|
 | |
| Born | July 16, 1869 Bridgeport, West Virginia, USA |
| Died | July 30, 1959 (aged 90) |
| Resting place | Homewood Cemetery in Pittsburgh |
| Nationality | American |
| Other names | Mike Benedum |
| Spouse | Sarah Lantz Benedum |
| Children | Claude Worthington Benedum |
| Parent(s) | Emanuel and Caroline Southworth Benedum |
Michael Late Benedum (July 16, 1869 – July 30, 1959) was a wealthy businessman from Pittsburgh, Pennsylvania, who made his fortune in the oil and natural gas industry in the early 20th century. Benedum accumulated immense wealth and became one of the richest men in America. His story is still celebrated in West Virginia and Pennsylvania, where he is considered a true American success story.[1]
Early life and family
[edit]Benedum was born in Bridgeport, West Virginia. His mother, Caroline Southworth Benedum, named him after the family doctor Michael Late. Michael attended school until age 16, when he quit to take his first job at the Davison Flour Mill where he worked 12 hours a day and was paid $16 a month.[2]
His wife Sarah "Sadie" Nancy Lantz Benedum, often overshadowed by her husband Michael's fame, was a crucial figure in his life. A bright and independent woman, she wasn't just a wife but a partner in his success. Sadie offered invaluable advice and support as Michael built his oil empire, and they were a team both in business and philanthropy. Together, they established the Benedum Foundation, leaving a lasting legacy of giving back to their communities. Though the tragic loss of their son, Claude, deeply affected them, Sadie remained a pillar of strength for Michael and continued her impactful work. Her intelligence, unwavering support, and spirit of generosity continue to inspire many even today.
Claude Worthington Benedum, was born in 1898 in Cameron, West Virginia, but died at the age of 20 during the 1918 Spanish flu pandemic while working with the United States Army on chemical warfare.[3]
Career
[edit]Benedum's career got a lucky start after a chance encounter on a train with a superintendent of the South Penn Oil Company. Benedum was known for his negotiating skills and his success as a wildcatter. He is said to have found "more oil in more places than anyone in history."[4] With his long-term business partner Joe Trees, Benedum created the Benedum-Trees Oil Company. The famous partnership started with the purchase of an oil lease in Pleasants County, West Virginia. The first well on this lease began producing in 1896; soon, six other wells became active. The profit from this lease allowed Benedum and Trees to purchase a dozen additional leases in West Virginia.[5]
The company was responsible for the discovery of the famous Yates Oil Field in Texas.[6] The business was so successful that Benedum appeared on a list of the 76 wealthiest Americans in 1957. He was proclaimed West Virginian of the Year in the same year for leaving much of his wealth to the improvement of the state.
Benedum was a Democrat and donated heavily to the party.[7] The New York Times described him as a "friend" of President Franklin D. Roosevelt.[8] Benedum made a particular effort to convince African Americans, who at that time largely identified with the Republican party, to vote Democratic.[9]
Legacy and philanthropy
[edit]Benedum never retired. Though he was very wealthy and 87 years old, The New York Times reported in 1956 that he continued to work seven days a week. In 1910, Benedum sold an oil lease which he had procured in Caddo Parish, Louisiana, for $7 million.[10]
Benedum donated to many charitable causes during his lifetime. He was responsible for the construction of a civic center and a Methodist church building in his hometown of Bridgeport, West Virginia. The wealth from the Benedum estate was placed in a foundation named for the Benedums' son: the Claude Worthington Benedum Foundation. Benedum directed that the foundation use the money for causes local to Pittsburgh and West Virginia.[11] The foundation website claims that have donated over $565,000,000. [12]
In 1950, the Texas Railroad Commission named an oilfield after Michael Benedum. The Benedum Field is located in northeast Upton County, Texas. This honor was given Benedum after his lease produced the discovery well, Alford No. 1, in 1948. This well kicked off the oil boom of the 1940s in the Permian Basin.
A portrait of Benedum hangs in the National Portrait Gallery in Washington, D.C.
A documentary film titled "Michael Benedum: The Wildcatter" was produced in 1980 and tells the story of his life and career.
Love for West Virginia
[edit]"Life has been sweet to me…sweet in the loved ones that have been mine, sweet in the friends who have surrounded me & rewarding in the opportunities that have come my way. I could not leave this earth with any degree of happiness and satisfaction if I felt that I had not tried to bring some of these joys to those less fortunate than I have been.
We know not where seed may sprout. In the poorest and most unregarded child who seems to be abandoned to ignorance and evil, there may slumber virtue, intellect and genius. It is our duty to sow and to nurture, leaving it to others to harvest the fruits of our efforts.
While I am conscious that my love for the land that gave me birth has been an influence in guiding the disposition of my estate, there are other practical reasons why I have favored my native state of West Virginia. It is not that I am unmindful or unappreciative of my adopted home of Pennsylvania, but rather that I have sought to appraise and balance the needs of each and the available potential for supplying those needs.
I cannot close my eyes to the realistic consideration that Pittsburgh and Pennsylvania abound in riches, having a citizenship in which men of great wealth are more common than rare. West Virginia is in a less fortunate position. There can be no question but that its needs are much greater than those of my adopted home. Consequently, in making specific provisions for West Virginia institutions, I have done so in good conscience, with a sense of equity & with recognition of a responsibility to distribute my estate in a way that will bring the greatest good to the greatest number. This decision was not made lightly or impetuously." -Quote from the will of Michael Late Benedum 15th day of June 1957.
Death
[edit]Benedum died in 1959 and is interred at Homewood Cemetery.
Benedum's legacy of generosity lived on after his death. He bequeathed a significant portion of his vast fortune, exceeding $100 million, to both his family and the Claude Worthington Benedum Foundation. True to his wishes, this Pittsburgh-based charity remains a pillar of support for West Virginia, channeling much of its philanthropic efforts towards the region.[13]
Eponymous things
[edit]- Benedum Field: This oil field in Upton County, Texas, was named in his honor after Benedum's lease produced the discovery well Alford No. 1 in 1948.
- Benedum Hall: Located on the campus of West Virginia University, this building houses the university's College of Law. It was constructed with a generous donation from Benedum in 1927.
- Benedum Center: This performing arts center in Pittsburgh, Pennsylvania, was built with a donation from Benedum in 1962.
- Benedum Trees Oil Company Building: This historic building in Pittsburgh, Pennsylvania, served as the headquarters for the Benedum-Trees Oil Company for many years. It is now listed on the National Register of Historic Places.
- Michael Late Benedum Chapter of the American Association of Professional Landmen (AAPL): This chapter of the AAPL, a professional organization for landmen in the oil and gas industry, is named in Benedum's honor.[14]
- Benedum Foundation: Established by Benedum in 1944, this foundation supports educational, cultural, and healthcare initiatives in West Virginia and Pennsylvania.
- Benedum scholarship: West Virginia University offers a scholarship in Benedum's name to students from West Virginia who are pursuing careers in the oil and gas industry.
- Benedum Civic Center (Bridgeport, WV) An enlarged replica of Benedums family home used as a public community and event center, build and dedicated by Benedum himself in 1956.[15]
- Benedum Libraries: Several libraries in West Virginia and Pennsylvania bear Benedum's name, including the Benedum Public Library in Bridgeport, West Virginia, and the Benedum Library at West Virginia University.
- Benedum Airport: In Bridgeport West Virginia. Also known as North Central Regional Airport. Code CKB.
- Benedum Room: This room in the Greenbrier Hotel in White Sulphur Springs, West Virginia, was a favorite of Benedum's and is still named in his honor.
References
[edit]- ^ meshdesign.com. "History". Benedum. Retrieved 2023-12-16.
- ^ Dietrich II, William S. (Nov 16, 2011). Eminent Pittsburghers (illustrated ed.). Taylor Trade Publications. p. 133. ISBN 978-1589796072.
- ^ "Claude Worthington Benedum, WWI, Marshall County, West Virginia".
- ^ Dietrick II, William S. (Fall 2009). Mike Benedum: A portrait in oil. Pittsburgh Quarterly.
- ^ "Heart Attack Proves Fatal To Oil Wizard". The Gettysburg Times. Associated Press. May 20, 1943.
- ^ "Benedum, Michael L. (1869-1959), oilman".
- ^ "DEMOCRATS REPORT $80,512 PARTY FUND". New York Times. October 27, 1922.
- ^ "CONGRESS IS BLAMED FOR BUSINESS SLUMP; M. L. Benedum, Friend of Roose- velt, Says Laws Are Curbing a Record Prosperity". New York Times. December 31, 1937. Retrieved 3 March 2018.
- ^ "Michael Benedum's Enduring Lessons" (PDF). Retrieved 3 March 2018.
- ^ Allan Nevins and Frank Ernest Hill. Reminiscences of Clem S. Clarke: Oral history, 1951. New York City: Columbia University. OCLC 122308295. Retrieved February 10, 2015.
- ^ "Michael Benedum's Enduring Lessons" (PDF). Claude Worthington Benedum Foundation. Retrieved 9 October 2014.
- ^ meshdesign.com. "History". Benedum. Retrieved 2023-12-16.
- ^ "e-WV | Michael L. Benedum". www.wvencyclopedia.org. Retrieved 2023-12-16.
- ^ "Michael Benedum - Michael Late Benedum Chapter of the AAPL". www.mlbc-aapl.org. Retrieved 2023-12-16.
- ^ "Benedum Civic Center Historical Marker". www.hmdb.org. Retrieved 2023-12-16.