In 2006, Rex was named chairman and CEO.
When Tillerson left the company, he walked away with a $180 million retirement payment.
According to CelebrityNetWorth, as of June 2017, the former Exxon-Mobil executive’s net worth is $300 million.
Tillerson is invested in more businesses in Japan than any other country outside of the United States. His most valuable Japanese investment is a chunk of Honda worth more than $50,000. He owns shares in the East Japan Railway Company and Nippon Telegraph and Telephone worth more than $15,000. Tillerson has also invested in two funds tailored to track the Japanese economy.
The Secretary of State nominee has direct holdings in nine French businesses, including one of Exxon’s competitors, Total S.A. Tillerson also holds a stake worth more than $15,000 in rival Royal Dutch Shell, based in the Netherlands.
Despite all of Trump’s tough talk on China, Tillerson is invested in nine companies there. He owns between $15,000 and $50,000 worth of stock in Alibaba, the Amazon of China. Its founder Jack Ma met with the president-elect in Trump Tower and discussed how small businesses in the United States could sell more products through Alibaba.
Tillerson also owns shares of companies based in Switzerland, the United Kingdom, Canada, Germany, Ireland, Hong Kong, Italy, Spain and Denmark. He has no direct investments anywhere in Africa, Latin America or the Middle East.
Tillerson – the chief executive of ExxonMobil – became a director of the oil company’s Russian subsidiary, Exxon Neftegas, in 1998. His name – RW Tillerson – appears next to other officers who are based at Houston, Texas; Moscow; and Sakhalin, in Russia’s far east.
The leaked 2001 document comes from the corporate registry in the Bahamas.
Tillerson is close to Igor Sechin, the head of Russian state oil company Rosneft and the de facto second most powerful figure inside the Kremlin. A hardliner, Sechin is ex-KGB.
Tillerson’s award followed a 2011 deal between ExxonMobil and Rosneft to explore the Kara Sea, in Russia’s Arctic.
It was put on hold in 2014 after the Obama administration imposed wide-ranging sanctions against Russia. The sanctions were punishment for Putin’s Crimea annexation that spring and Russia’s undercover invasion of eastern Ukraine.
It is widely assumed by investors that the new Trump administration will drop sanctions. This would allow the Kara joint venture to resume, boosting Exxon’s share price and yielding potential profits in the tens of billions of dollars. According to company records, Tillerson currently owns $218m of stock. His Exxon pension is worth about $70m.
Tillerson, born in Wichita Falls, Texas, has spent his entire career at Exxon. He started work there as as a production engineer right after graduating from the University of Texas at Austin.
A softer stance on climate change
“Mr. Tillerson, 65, has made clear his assessment of not only the State Department but the federal government in general.”
“It’s largely not a highly disciplined organization,”
“Decision-making is fragmented, and sometimes people don’t want to take decisions. Coordination is difficult through the interagency — has been for every administration.”
“Almost from the time of his arrival, Mr. Tillerson has said the department needed to be reorganized, and he has embarked on a wholesale rethinking of its structure. He has hired two consulting companies, undertaken a department-wide survey and set up five committees to analyze different aspects of the department.”
“‘Mr. Tillerson has said the reorganization will be driven by suggestions from staff members, but before the survey process even began he proposed a 31 percent cut to the department’s budget and an 8 percent staff cut — suggesting to many that his mind was already made up. He must give Congress a hint of his plans by Sept. 15 but does not expect to have them fully formed until the end of the year.”
Rex Wayne Tillerson was born on March 23, 1952, in Wichita Falls, Texas. From his early years, the Boy Scouts were an important part of his life; his parents, Bob and Patty, had met at a Boy Scout camp as teenagers, and Bob went on to work for the organization. Tillerson became one of its devoted young members, rising to the rank of Eagle Scout at age 13.
Tillerson also showed an interest in music, playing drums for the Huntsville High School and University of Texas bands. At UT he pledged the Alpha Phi Omega fraternity, which had accepted only Boy Scouts until a few years prior, before graduating with his degree in civil engineering in 1975.
Rise at Exxon
Tillerson joined Exxon in 1975 as a production engineer, spending his early days with the company exploring and developing new resources out in the oil fields.
Enjoying an impressive ascent, Tillerson in 1989 became general manager of Exxon’s central production division. His responsibilities soon expanded to a global scale, as he was assigned to operations in Yemen and Thailand in 1995. Three years later, he was named vice president of Exxon Ventures Inc. and president of Exxon Neftegas Limited, giving him oversight of the company’s Russian holdings.
Following Exxon’s merger with Mobil, Tillerson became senior vice president in 2001. He was elected president and a member of the board of directors in 2004, and completed his rise to the top by taking over as chairman and chief executive of ExxonMobil in 2006.
Successes and Controversy
As ExxonMobil’s top executive, Rex Tillerson presented a more genial figure than his blunt predecessor, Lee Raymond. Delving into his Boy Scout roots, he reportedly installed a merit badge-like system to reward employees for accomplishments.
Charming disposition aside, Tillerson did what he saw fit to advance ExxonMobil’s business interests. At one point during Barack Obama’s administration, he sidestepped the State Department to forge an independent oil deal with Kurdistan. He also agreed to a joint-venture arrangement with Russian energy company Rosneft in 2011, although that deal was suspended when the U.S. levied sanctions for Russia’s annexation of Crimea. Tillerson’s ties to the region were such that he was awarded the Order of Friendship from Russian President Vladimir Putin in 2013.
Under Tillerson’s leadership, ExxonMobil adopted a public stance that acknowledged the threats of global warming. However, in 2015 multiple outlets reported that the company had been aware of climate change since the 1970s, and had attempted to cover up the release of that information.
Secretary of State
In December 2016, Rex Tillerson emerged as President-elect Donald Trump’s surprise choice for secretary of state over higher-profile candidates like Mitt Romney and Rudy Giuliani. Although he had never held public office, it was reasoned that Tillerson’s interactions with foreign leaders as ExxonMobil chief had given him valuable experience on the global stage.
One month later, Tillerson faced tough questioning during his Senate confirmation hearing. Some wanted to know how his close ties to Putin would affect his ability to do the job, particularly with the revelation that Russia had attempted to interfere with the 2016 U.S. presidential election.
Tillerson maintained that the U.S. needed to take a tough stance with Russia, and also distanced himself from some of Trump’s controversial suggestions, like a ban on Muslim immigrants. Additionally, he promised a “comprehensive review” of the nuclear accord with Iran. However, he also asserted that much of the data on climate change was “inconclusive” and with his refusal to commit to action on human-rights abuses in countries such as the Philippines.
On February 1, 2017, Tillerson was confirmed as the nation’s 69th secretary of state. However, it came on the heels of a 59-to-43 vote, the most votes against a nominee in Senate history.
Rex Tillerson has four children with his wife, Renda. They own several properties throughout Texas, through which they founded a horse breeding and training business.
Along with his top position with ExxonMobil, Tillerson was president of the Boy Scouts from 2010 through 2012. He is credited with helping to influence the organization’s decision to accept openly gay members in 2013.
Tillerson has also served as a director of the United Negro College Fund, and held prominent positions with the National Petroleum Council, the Society of Petroleum Engineers and the Ford’s Theatre Society.
Rex Tillerson Parents – Bobby Joe Tillerson and Patty Sue nee Patton
It is said that the birth of Rex should be credited to the Boy Scouts. Rex Tillerson’s father, Bobby Joe Tillerson was extremely passionate about Boy Scouts. When he was in his teens and working at the camp, he had a chance meeting with Patty Sue who paid a visit to the scout camp. The pair hit it off instantly and finally married each other. Rex Tillerson was born to the couple on March 23rd 1952. At the time, Bobby and Patty were living in Wichita Falls, Texas.
Tillerson went on to complete his degree in Civil Engineering from Texas University in Austin.
Rex Tillerson Spouse – Renda St. Claire
Rex Tillerson married Renda St. Claire in the year 1986. At the time of his wedding, he was 34 years of age. The couple has four children and they live in Irving, Texas. They live in a luxurious villa which is supposed to be worth $15 million.
Rex Tillerson Children – 4 Children
Rex Tillerson and his wife Renda St. Claire have four children. However, little is known about his three elder kids. His youngest born is a son named Tyler Tillerson.
“We’re going to carve our piece into that history.”
In Secretary Tillerson’s remarks to State Department employees in May, he talked about history.
“One of the great honors for me serving in this department, the Department of State, and all of you know, the Department of State, first cabinet created and chartered under the Constitution. Secretary of State, first cabinet position chartered and created under the Constitution. So we are part of a living history and we’re going to get to carve our little piece of it, our increment, in that clock of time. We’re going to carve our piece into that history.”
Aaron David Miller and Richard Sokolsky on CNN writes that “Tillerson does not have a small ego. He doesn’t want to be the answer to the question in a game of Trivial Pursuit of which Secretary of State holds the record for the shortest tenure in the modern era.” We should add that Tillerson was the CEO of the 6th largest company in the world in terms of revenue. His compensation was in the millions and he apparently has a right to deferred stock worth approximately $180 million over the next 10 years. He does not need another job for the rest of his life after he steps down as secretary of state. But his reputation, which is all that’s left in the end, could suffer.
Questions are already being asked, “Is he the worst Secretary of State in living memory?”
What he does here, now, history will remember, and history is judgy.
So he will be mindful of history and his place in that history. We don’t think he will leave his post without being able to cite a major accomplishment during his tenure. A potential accomplishment could be the reorganization of the State Department, but that is not happening overnight.
“How do we effect the change and begin to get that into place?”
In a June 13, 2017 appearance at the Senate Appropriations Sub-Committee, Secretary Tillerson talked about the timeframe of his reorganization plan (see Notable Details From Tillerson’s Congressional Appearances on FY18 Budget Request).
“We hope to have the way forward, the next step framed here in the kind of August timeframe, so that we can then begin the redesign process itself September. I’m hoping we can have all of that concluded by the end of the calendar year, and then ’18 will be a year of how do we implement this now? How do we effect the change and begin to get that into place?”
We don’t think he will leave before the reorganization is completed at the State Department, and implementation for that is not even happening until sometime in 2018. If he leaves his position before his agency’s reorganization is completed, what will his Wikipedia page say? That he started reorganizing the Department of State and then he quit to spend more time with his family? Oftentimes reorganizations cause unpalatable changes — and if the real reasons for this reorganization are cost efficiencies and effectiveness (as opposed to WH vindictiveness for that leaked dissent cable) — how do you make it stick if the chief sponsor of the reorganization leaves?
Remember Condi Rice’s “transformation” initiative and job repositioning efforts at the State Department? She did not step down for two more years following that splashy announcement. And even that was not enough to make the changes stick. The heart of change is changing hearts, and a secretary of state perceived to be disconnected from the building and his people will find the job of changing a bureaucracy almost as old as this country even harder, and tougher.
“We don’t intend to leave anybody out.”
During his remarks to employees in May, Tillerson talked about the State Department as a ship, and his tenure as taking a voyage with his employees, to get “there” wherever that is. And he talked about not leaving anybody out.
“But we’re on all this ship, on this voyage together. And so we’re going to get on the ship and we’re going to take this voyage, and when we get there, we’re all going to get off the ship at wherever we arrive. But we’re all going to get on and we’re going to get off together. We don’t intend to leave anybody out.”
While it may not be his intention, he actually is already leaving the entire building out. We don’t know how he feels about that. We do know that Mr. Tillerson would have a better relationship with Foggy Bottom, and a better chance at successfully fulfilling his job if not for the small circle of individuals controlling the air space over the secretary of state.
Secretary Tillerson is in a bubble with his interaction in the building scrupulously laundered through an inner circle of advisers who are dismissive of people who are not considered worthy and who see dark shadows in every corner. We understand that Secretary Tillerson does not meet with career staffers without the presence of at least a member or two from his inner circle (this circle should have a name, hey?). As if somehow, his folks are afraid that Tillerson might get poked and wake up to the reality he is in. Tillerson’s front office managers have done an atrocious job of representing him inside the building. Changing that should be Tillerson’s top priority, then he won’t leave the entire building out.
“I want to shake the hand of every State Department employee…”
In a remarks to employees earlier this month, Tillerson said that he wanted to shake the hand of every State Department employee. The State Department has over 75,000 employees in Foggy Bottom and at over 270 posts worldwide.
“I want to shake the hand of every State Department employee at some point during this tenure of mine, anyway. You’re all extremely important to us — individual, but you’re extremely important to us, collectively, in what you do.”
So he’s not going to get that hand-shaking done before the end of the year. To-date, Secretary Tillerson has travelled nine times overseas to twenty-two foreign destinations. He’s got ways to go here and there.