2013 Gold Nugget Recipient: Ray Malooly
B.A. IN HISTORY, B.A. IN ENGLISH, 1959
COLLEGE OF LIBERAL ARTS
Ray Malooly originally attended Texas Western College in hopes of earning a medical degree. After several classes and labs, he realized medicine was not intended for him. He graduated in 1959 with a B.A. in History and English.
However, after thoroughly enjoying his economics class, his family roots and true talents led him to the business world. “Texas Western opened my eyes to the world around me,” said Malooly, who knows three languages: English, Spanish and Arabic. “Through my sociology and psychology classes, I learned how to converse and understand people. In my business classes, I studied the economics of supply and demand, and the importance of learning every aspect of your product, as well as how to market it to the public.”
After several decades of business ventures with his parents and four siblings, Malooly ultimately branched out. He founded his real estate and investment company, which acquired several shopping centers, including the historic Mills-White House Building and Cortez Building in downtown El Paso. Currently, Malooly is founder and CEO of Malooly Corp. and its subsidiaries, specializing in commercial lending, real estate, and investments.
“Education and a strong work ethic is something that has been passed down from my parents,” he said. “During college, I attended classes daily from 7 a.m. to 2 p.m., then headed downtown to my brothers’ store to sell furniture until the last customer left.”
Today, as a lifelong El Pasoan, businessman, and proud UTEP supporter, it’s hard to imagine he ever considered a different path.