Which two brothers were behind the 1980 “Silver Thursday” market collapse?

Nelson and William Hunt were behind the 1980 “Silver Thursday” market collapse.

The Hunt brothers, wealthy Texas oil heirs, attempted to accumulate a huge position in silver during the 1970s. Their purchases included physical silver and futures contracts, and they were joined by international investors. As buying increased, the silver price rose dramatically, reaching nearly $50 per troy ounce in January 1980.

Exchanges then changed their rules, including restrictions on new purchases and tighter margin requirements. These measures made it harder for the Hunts to maintain their leveraged positions. Silver prices fell sharply, and on March 27, 1980—known as Silver Thursday—concern about forced liquidation spread through financial markets.

The episode was a commodities and financial-market crisis rather than a classic broad stock-market crash. The Hunts later faced bankruptcy proceedings and were found liable in litigation connected with their attempt to manipulate the silver market. “Hunt brothers” refers specifically to Nelson Bunker Hunt and William Herbert Hunt.