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Warren Bechtel's son, Stephen Sr., prospered during World War II by building Liberty ships. At war's end, Bechtel expanded his company's pipeline work and moved into oil refineries and later into nuclear plants. In 1960 Bechtel handed control of the firm over to his only son Steve Jr., who holds the titles of chairman and chief executive officer and last week took back the title of president as well, after Shultz's resignation.
As the business has grown, the Bechtels have become one of the world's wealthiest families. Steve Sr., now 81, is said to be worth upwards of $750 million, while Steve Jr., 57, has a personal fortune estimated to exceed $200 million.
Last week Steve Jr. tried to belittle his firm's easy access to world leaders. Said he after returning from a fishing trip to the trout streams of Alaska: "I only feel it is appropriate to see leaders when there is business to conduct and it is worth their time." Characteristically, he merely mentioned in passing a new project, rather simple by Bechtel standards, that the company had just announced: the construction of a $100 million company office building in downtown Oakland, Calif. —By Alexander L. Taylor HI. Reported by Bob Buderi and Joseph J. Kane/San Francisco