Net worth US$250 million (1989) Children 3 sons, 1 daughter | Spouse(s) Dorothy Turner Grandparent Christian Scharbauer | |
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Born July 6, 1925 Midland, Texas, U.S. Alma mater Texas A&M University (did not graduate) Occupation Rancher, oilman, banker, horsebreeder Relatives John Scharbauer (paternal great-uncle) Died 21 February 2014, Midland, Texas, United States Parents Clarence Scharbauer, Ruth Cowden | ||
Clarence Scharbauer, Jr. (1925-2014) was an American rancher, oilman, banker, horse breeder and philanthropist.
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Early life
Clarence Scharbauer, Jr. was born on July 6, 1925 in Midland, Texas. His father, Clarence Scharbauer, Sr., was a rancher. His paternal great-uncle was a large rancher from New York. His paternal great-great-grandfather was an immigrant from Germany.
Scharbauer attended Texas A&M University for one semester, until he dropped out in 1942 when his father was diagnosed with cancer. During World War II, he served in the United States Navy.
Career
Scharbauer inherited his father's 350-acre ranches and oil investments. One of his ranches, Valor Farm in Pilot Point, Texas, "produced more than one billion barrels of oil." He was the recipient of the Golden Spur award for ranching.
Scharbauer served as the chairman of the First National Bank of Midland, but the bank failed.
Scharbauer was a horse breeder. He was the owner of the Kentucky Derby winner Alysheba. Another horse he owned, Fiftyshadesofgold, won the Texas Stallion Stakes at the Sam Houston Race Park on February 15, 2014. He was inducted into the American Quarter Horse Hall of Fame and the Horse Racing Hall of Fame. He was the recipient of the lifetime achievement award from the Texas Thoroughbred Association in 2007.
Philanthropy
Scharbauer made charitable contributions to Midland College (where the Scharbauer Student Center is named in his honor) and the Midland Memorial Hospital (where the Dorothy and Clarence Scharbauer Jr. Patient Tower is named after he and his wife). Additionally, the Scharbauer Sports Complex was named after him after another donation he made. Scharbauer was also the founder of the Scharbauer Foundation, a philanthropic foundation.
Personal life
Scharbauer married to Dorothy Turner, whose father, Fred Turner, Jr., won the 1959 Kentucky Derby with a horse named Tomy Lee. The couple had four children: sons Clarence Scharbauer III, Douglas, and Chris, and daughter Pamela. He was widowed in 2005.
Death and legacy
Scharbauer died on February 21, 2014 of complications following emergency surgery. He was eighty-eight years old.
One of Scharbauer's sons, Clarence Scharbauer III, serves as the Chairman of the Board of Trustees of Texas Christian University as of 2015-2016.