"Diamond Glenn" drew much attention from the national media due to his charismatic personality and his rags-to-riches story. Both loved and scorned by the media, his image formed the cultural mythos of the Texas oil millionaire: a charming, lucky, unabashed businessman. In 1949, McCarthy built the luxurious
Shamrock Hotel in Houston, spending $21 million for its construction. He then held what has been cited as "Houston's biggest party" for the hotel's grand opening. Dozens of Hollywood celebrities, many of whom were flown into
Houston Municipal Airport on a
Boeing 307 Stratoliner airplane which he had acquired from
Howard Hughes. Like most wildcatters, McCarthy was an aggressive investor. His multiple ventures led to a series of financial up and downs. In 1952, a life insurance company acquired the title to the Shamrock Hotel, which was sold to the
Hilton Hotels Corporation. McCarthy restructured his business dealings and persisted. His business holdings included
KXYZ radio station in Houston, two banks, a bar, a brand of bourbon called "Wildcatter", the McCarthy Chemical Company, a magazine, 14 "throwaway" newspapers and a movie production company known as Glenn McCarthy Productions. He served as chairman of the former
Eastern Air Lines and president of the United States Petroleum Association. ==Later life==