Collections of correspondences, notes, and newspaper clippings about Wendell Phillips

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'AMDIAN Guardian City Office : 831 Salisbury House, London Wall, E.C.2 Thursday February 19 1970 i w.imnya i n JIUKI mum n ^'WM^lWiIWi 0 wtmwesiA wf &i*^Ww f XI itiwi • «r rmIIIA W a r n W *''Lttuaawtti $500M 'hobby'.of Wendell Phillips By Peter HiHmore W E N D E L L PHILLIPS sells oil like nobody else sells oil. His personal fortune has been estimated at $500 mil­lions give or take a million. Which is a lot of money from something which he regards as a " hobby." Yesterday at a press con­ference in London's Dor­chester Hotel (above) he announced that he had taken another step towards con­solidating his fortune by signing an oil production sharing agreement with the Indonesian state oil corpora­tion, Pertamina. The contract allows Dr Phillips the right to explore for and exploit the oil poten­tial on the seabed and jungle in the northern part of West Irian, N e w Guinea, covering an area of 12,000 square miles. Dr Phillips Is the world's largest oil concessionaire, with holdings estimated at over 100 million acres. "I'm only an active ama­teur in the oil business," the 48-year-old oil king told his London audience yesterday. But the oil companies w ho weigh in with a vice-president or two backed by a team of technicians often go down in the bidding to a man who speaks Arabic, gives away autographed copies of books find discourses on the coun­try's history. It is also un­likely that the vice-presidents will have 18 honorary degrees. Dr Phillips claims these personal attributes give him a distinct advantage over his rivals. And being the only American to be made an Arabian sheikh helps as well. " I'm not a businessman-I have those working for m e - I'm an explorer," he explains. Approaching businessmen as if he was an insurance salesman, Phillips managed to finance expeditions to explore Africa and the Middle East. It was on an archaeological trip that he met the Sultan of Oman. The Sultan was having trouble with the American oil company in the area and when they pulled out he offered the rights to Phillips. He has never looked back since then and has travelled round the world over 60 times. He lives In a penthouse in Hawaii that he describes as one of the wonders of the world, and his office is decor­ated in Ballnese style. He neither drinks nor smokes. And in spite of his wealth he has only two suits, three 1>airs of shoes. But he regu-eaxrcleys st rbavaeglgsa gwei.t h 200 pounds