William (Bill) Kallop
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William Moore Kallop | |
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| Born | United States |
| Died | March 24, 2019 |
| Citizenship | American |
| Alma mater | Princeton University Harvard Business School (MBA) |
| Occupation | Businessman, oil executive |
| Known for | Offshore oil exploration; ownership of large yachts |
| Children | 5 |
William "Bill" Moore Kallop (died March 24, 2019) was an American businessman, investor, and offshore oil-industry executive. He was the founder of Offshore International Group, a company involved in large-scale oil and gas exploration in the United States and Latin America, and was widely known for his ownership of high-profile superyachts.[1]
Early life and education
Kallop graduated from the Wooster School before attending Princeton University, where he majored in political science and was a member of the Charter Eating Club. During the time he was studying at Princeton, he developed an early interest in public policy and international affairs. [1] After his time at Princeton, Kallop earned his MBA from Harvard Business School in 1967. His education at these institutions significantly affected his overall financial success in the international energy market. [1]
Business career
After completing his studies, Kallop began his career in real estate development and subsequently shifted into mergers and acquisitions.[1]
McAllister Brothers
In 1974, he helped structure a leveraged buyout of McAllister Brothers Towing & Transportation Inc., one of the older tug and marine-transportation companies in the United States. Kallop became part-owner and later served as CEO.[1] His role there involved expansion of maritime operations and management of offshore support services.
Offshore International Group
In 1998, Kallop left McAllister and founded the Offshore International Group, an oil and gas exploration business focused on offshore drilling and seismic surveying. The company’s exploration zones included substantial portions of the Peruvian coastline, totaling millions of acres of offshore territory.[1]
Under Kallop’s direction, the company grew into a notable regional operator, participating in both exploration and production contracts with Latin American governments. He sold his oil interests in 2009 and retired from active business leadership.[1]
Tax and regulatory controversies
In 2010, following the sale of a petroleum company linked to Offshore International Group, the Congress of the Republic of Peru sought US$482.2 million in taxes from Kallop. Peruvian legislators alleged that the offshore asset sale had been structured to avoid tax liability.[2] The dispute became part of a broader political debate in Peru regarding foreign investment and taxation of natural-resource operations.
Yacht ownership
Kallop owned multiple large superyachts and was known within international yachting circles.[3]
Natita
In 2010, he purchased the 66-meter yacht Natita, originally built by the Dutch shipyard Oceanco and previously known as Dilbar.[4] Natita was among the most recognized vessels in his fleet and featured prominently in yachting media coverage.
Financial dispute with Goldman Sachs
In 2014, Kallop borrowed US$32 million from Goldman Sachs, using Natita and another yacht, the 57-meter Bad Girl, as collateral. Goldman Sachs later alleged that Kallop defaulted on the loan in 2016, leaving nearly US$28 million unpaid.[5]
In February 2017, the U.S. Marshals Service seized Natita at a marina in Palm Beach, Florida, on behalf of the bank.[6] The vessel was subsequently sold at auction.
Personal life
Kallop was married twice. His first marriage, to Fritzi Farber Kallop, produced three children. Brooks Kallop, Brent Kallop, and Field Kallop. He was survived by his three children and eight grandchildren. Liam Kallop, Kai Kallop, Owen Kallop, Marina Kallop, Mia Kallop, Olivia Kallop, Camila Bates and Finn Bates.[1]
Death
Kallop died on March 24, 2019.[1]
Legacy
Kallop left a complex legacy as both a high-risk entrepreneur in the offshore oil industry and a figure associated with high-profile financial and legal conflicts. His business activities in Latin America and the United States, as well as the publicized seizure of his yachts, kept him a prominent subject in industry and financial reporting.
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 "William Moore Kallop ’65", Princeton Alumni Weekly.
- ↑ "Peruvian Congress Calls in Debt from U.S. Oil Executive", Inter Press Service.
- ↑ "William Kallop’s 66m yacht seized by Goldman Sachs", YachtHarbour.
- ↑ "The Full Story of the Dilbar Fleet", YachtHarbour.
- ↑ "An Oil Baron Stiffed Goldman Sachs, So It Seized His 217-ft. Yacht", Yahoo Finance.
- ↑ YachtHarbour report
External links
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