Paul Novelly & family
$1.4B
Born
Aug 20, 1943
Age
82
Source of Wealth
Oil
Residence
Boca Raton, Florida
Citizenship
United States
Marital Status
Married
Children
4
Education
- Paul "Tony" Novelly owns Apex Oil, a petroleum products distribution, storage and transportation firm based in St. Louis, Missouri.
- He joined the company in 1969 and rose to become CEO. The firm filed for bankruptcy in 1987 and Novelly became the sole owner after it emerged from bankruptcy in the early 1990s.
- He also owns World Point Terminals, which owns 19 oil storage terminals in 15 states, and Bermuda-based oil trading firm AIC.
- His other holdings include the Shanty Creek ski and golf resort in Michigan; real estate in St. Louis and St. Albans, Missouri; and 40% of publicly traded specialty chemicals producer FutureFuel.
- He stepped down as CEO of Apex Oil and FutureFuel in 2022, handing over the reins to his son, Paul Novelly II.
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