DENVER - Oren Benton, who made a fortune pioneering the purchase of uranium from the Soviet Union before a spectacular bankruptcy when the uranium market collapsed, has died at the age of 72 of colon cancer.
Phyllis Wicklund, a longtime family friend, confirmed his death at an assisted care center in suburban Arapahoe County on Friday.
"His whole life was basically business," said her husband, Rod. "For him it was like going to the circus. He thoroughly enjoyed the creativity of it."
The Rocky Mountain News reported that Benton used the money he made selling uranium to U.S. nuclear power plants in the 1980s to invest in banks, a real estate agency, a computer chip manufacturer and gold mines. The Wall Street Journal once estimated his wealth at between $150 million and $200 million.
In 1991 he bought a share of the Colorado Rockies baseball team. He had to sell his share of the team when he declared bankruptcy in 1995.
A native of Oto, Iowa, he served in the army before earning a degree in economics and accounting from the University of New Mexico. He married his childhood sweetheart, Beverly.
After 20 years with the accounting firm of Arthur Andersen, he joined another entrepreneur, Bob Adams, and the pair became pioneers in the uranium industry.
Benton became involved with Rockies when then-Gov. Roy Romer called and said Denver might not get the franchise without additional investment money. He committed $20 million, saying, "I couldn't stand the fact that Denver wasn't going to get the franchise."
During the years he was trading with Russia he became fond of the country and shipped 100 pregnant cows there from his Diamond Six D ranch near Kremmling as an "educational gift."
In addition to his bankruptcy, he got into trouble with the Federal Reserve because his bank allegedly lent too much money to Benton himself and people close to him. He also was involved in several lawsuits.
Benton and Beverly would have celebrated their 52nd wedding anniversary in August. He also is survived by six daughters and 14 grandchildren.
Posted in Business on Sunday, May 21, 2006 12:00 am
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