News & Observer | newsobserver.com | Philanthropist Walter Davis dies

Published: May 21, 2008 12:30 AM
Modified: May 21, 2008 05:03 AM

Philanthropist Walter Davis dies

Tar Heel made fortune in oil, and N.C. benefited

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SUPPORT FOR A STUDENT AND A PRESIDENT

A GRADUATION GIFT

In the spring of 1999, Reyna Walters, student body president at UNC-Chapel Hill, chatted with Walter Davis about her plan to earn money over the summer for a trip to Europe.

"He said he was going to make that happen for me," recalled Walters, now a lawyer in Washington. Later, a $10,000 check from Davis arrived.

Walters spent two months touring Europe on his graduation gift.

"I know it sounds sort of cliche," she said, "but it really did change my life."

DAVIS AND THE FIRST IRAQ WAR

In 1991, Walter Davis bought a full-page ad in The Washington Post to support the decision by the first President Bush to go to war with Iraq and protect the gulf region's oil reserves.

Terry Sanford, then a Democratic U.S. senator from North Carolina whom Davis backed, worried that the nation was starting another Vietnam War.

"Terry said, 'We'll lose 70,000 people,' and I said, 'I'll bet you a steak dinner we don't lose 100,' " Davis said in 2001. "And we only lost five."

ARRANGEMENTS

Walter Davis is survived by his wife, JoAnn. A funeral is planned for 2 p.m. Friday at Chapel of the Cross in Chapel Hill, with a reception to follow in the church.

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CHAPEL HILL - Walter Royal Davis, a Pasquotank County farmer's son who became a Texas oil tycoon before returning to North Carolina as a force in politics and higher education, died Monday night at his Chapel Hill home.

With a 300-pound body and a booming boardroom voice, Davis, 88, was legendary for making things happen. He gave millions of dollars to UNC-Chapel Hill and was a trustee for 16 years.

Davis entertained on a grand scale, and he was known to leave five-thousand-dollar tips for struggling clerks and waitresses. Through scholarship programs and in personal gifts to young people he met, Davis put more than 1,300 students through colleges and nursing schools in North Carolina and Texas.

UNC-CH named its central library for Davis in the 1980s. He had persuaded legislators to provide money for it.

A Manteo elementary school named a hallway for him in the 1990s. He had provided a monthly ice cream endowment for fifth-graders.

"Walter was, I believe, the most generous man I've ever met," said actor Andy Griffith of Manteo, a longtime friend. "He gave to people that nobody even knows about."

From potatoes to oil

Davis never attended college. He was born Jan. 11, 1920, and grew up on a potato farm near Elizabeth City. After graduating from Hargrave Military Academy, he found work as a store clerk and a truck driver.

He drove textiles from southern factories to northern finishing plants, then moved into management with a California trucking firm.

Davis moved to Midland, Texas, in 1952. He started his petroleum empire with borrowed money to buy five tanker trucks that plowed through muddy fields to reach wells that produced oil for remote pipelines. After selling his Permian Corp. to Occidental Petroleum in 1966, he chafed in his new role as No. 2 man under CEO Armand Hammer.

Davis broke with Hammer and started a second oil transport company, bought refineries, and invested in oil and gas drilling ventures and other businesses. Back in his home state, he invested in real-estate projects, including Kildaire Farms in Cary, and Bald Head Island and Southern Shores on the coast.

Hammer wasn't the first authority figure Davis clashed with, or the last.

As a boy, he butted heads with his father over pre-dawn chores that included milking the cow and feeding chickens, hogs and 22 mules. He walked three miles to school and was kicked out the first day, he recalled in 1982, for slugging the principal.

Later, North Carolina trucking executive Malcolm McLean fired Davis for giving his first wife a ride in a company truck. They had driven to Washington to see Franklin Roosevelt's third inauguration.

Living big

Davis was a big contributor to politicians in both major parties, sometimes giving to opponents in the same contest.

He took Lyndon Johnson fishing on his boat. He counted liberal Democrats William Fulbright and Hubert Humphrey as friends, and he supported conservative Republicans Richard Nixon and Jesse Helms. After he returned to North Carolina in the 1970s, Davis also backed Tar Heel Democrats Jim Hunt and Terry Sanford.

In the 1980s, he became mentor to Marc Basnight, a young Manteo builder running for a state Senate seat.

Basnight would become Senate leader and the most powerful figure in North Carolina politics. But he was intimidated the first time Davis picked him up in a big car, puffing a cigar.

Davis peppered him with questions on wide-ranging subjects and pronounced him "one of the dumbest people he ever met," Basnight recalled. But Davis gave Basnight a subscription to The Economist magazine and began his tutoring.


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