It’s a couple days after “Super-Tuesday” and one day after the death of oil magnate Aubrey K. McClendon, a founder and former chief executive of Chesapeake Energy (a natural gas producer) and 20% owner of a professional basketball team. McClendon died in a fiery single-car crash on Wednesday—a day after he was charged with conspiring to rig bids for oil and natural gas leases. He had vowed to prove his innocence.
McClendon, 56, crashed into an embankment while traveling at a “high rate of speed” in Oklahoma City just after 9 am local time. Flames engulfed McClendon’s vehicle immediately. “He pretty much drove straight into the wall,” said a police spokesman.
The authorities will take a couple weeks to determine the cause of his death, so it is obviously too early to draw any conclusions. Yet the stock of Chesapeake Energy rallied 32% on news of McClendon’s death.
There were rumors of extreme animosity between Chesapeake and McClendon, which will now no longer cloud McClendon’s future. While alive, he was described as “larger than life.” Now he’s just dead.
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