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Concept
Leon Hess
Summary
Leon Hess (March 14, 1914 – May 7, 1999) was an American businessman, the founder of the Hess Corporation and the owner of the New York Jets. Hess built an oil terminal in New Jersey after the Great Depression, building his first refinery in the late 1950s. He sold his company, Hess Oil and Chemical, in 1963 and joined a consortium to buy the New York Jets. Hess was responsible for moving the Jets to Giants Stadium in East Rutherford, New Jersey, in 1984.
In 1969, Hess acquired Amerada Petroleum Corporation, one of the largest producers of crude oil in the United States. The acquisition saw Amerada merging with Hess Oil and Chemical to form the Amerada Hess Corporation. Hess served as chairman and CEO until 1995. He died at the age of 85 on May 7, 1999. Hess was posthumously inducted into the New Jersey Hall of Fame in 2011.
Hess was born on March 14, 1914, to a Jewish family in Asbury Park, New Jersey. His parents were Ethel and Mores Hess, who was a kosher butcher who had emigrated from Lithuania and—after arriving in the United States—worked as an oil delivery man in Asbury Park, New Jersey. Hess worked as a driver for his father's company and, after it went bankrupt in 1933 during the Great Depression, he reorganized the company. He built an oil terminal in Perth Amboy, New Jersey, out of old oil tankers and aggressively underbid his competitors to win Federal oil contracts. He served in World War II, rising to the rank of major, and serving as the fuel supply officer for General George S. Patton, where he further developed his logistical expertise.
After the war, using a network of smaller terminals, Hess's success continued. In the late 1950s, he built his first refinery; and in 1960, he opened a chain of gas stations. In the early 1960s, he built the world's largest oil refinery at the time on St. Croix in the United States Virgin Islands to take advantage of federal tax benefits. The refinery was able to secure foreign refiner status (allowing it to circumvent the federal rule that required the use of higher-cost U.
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