Business: Bunker Hunt's Comstock Lode

While bullion buffs have been ringing up spectacular profits, Dallas Megamillionaire Nelson Bunker Hunt, 53, should have been quietly humming Silver Threads Among the Gold. As the nation's paramount silver hoarder. Hunt and at least one brother, William Herbert Hunt, have amassed a new Comstock Lode. Over the past nine months they have earned an estimated $2 billion to $4 billion, and one former business associate sets the Hunts' silver holdings at 100 million oz. Even for a man who could play Monopoly with real money, the silver boom is stunning.

Bunker Hunt,...