When it comes to spending money, Dallas Cowboys owner Jerry Jones is no rookie.
Continue Reading Below
Cowboys and fantasy football fans have been waiting weeks for the businessman to sign away $90 million to franchise running back, Ezekiel Elliott.
“I need you to put your foot on mine, I’m going to float away cause I’m $90 million lighter this morning,” Jones joked with FOX Business’s Gerri Willis on Wednesday.
"The way you get 90 million [dollars] to pay Zeke Elliott is to drill wells with Comstock in the Haynesville."
But if $90 million just made Elliott the highest-paid running back in the NFL, for Jones, it’s just the tip of the iceberg that is his wealth.
While he’s best known for owning the Cowboys, he’s first and foremost a businessman who made his fortune in Arkansas oil and gas exploration.
“I got into things when [industry demand] was soft, or not necessarily in favor, that’s how I bought the Cowboys,” Jones said. “Earlier in my career, I got into natural gas when everybody was getting out."
He founded his privately held firm, Jones Oil and Land Lease at 25 years old after several failed business ventures. The company’s success left Jones free to invest in other businesses. One of them was Comstock, an oil and gas exploration company of which he’s the majority shareholder.
And on Wednesday at the New York Stock Exchange, Jones and his family celebrated Comstock’s recent acquisition of Covey Park Energy. The deal is valued at $2.2 billion and is set to double the company’s resources.
Comstock shares soared 20% Wednesday afternoon — their biggest intraday gain in over a year. This meant that Jones’ fortune also grew by about $100 million.