The synthesis and ethylene reactivity of the zwitterionic Pd methyl complexes (κ 2 -P,Cl-PR 2 CB 9 Cl 9 )PdMe-(THF) (7, R = i Pr; 8, R = Ph) and (κ 2 -P,O-P(o-OMe-Ph) 2 CB 9 Cl 9 )PdMe(THF) (9), which contain the first phosphines appended with anionic 10-vertex perchlorinated closo-carboranes, are described. Complexes 7 and 8 oligomerize ethylene (23 °C, 2 atm) to a Schulz−Flory distribution of C 4 −C 10 olefins with TOFs of ca. 8000 and 1800 t.o./h, respectively. 8 is ca. 4 times more active than the analogous (κ 2 -P,F-ortho-PPh 2 C 6 H 4 BF 3 )PdMe(L) (L = pyridine or collidine) system reported by Jordan and Piers, which produces butenes. Complex 9 reacts with ethylene to yield polyethylene wax (M n ca. 1000, Đ ca. 1.5) that is similar to commercial Fischer−Tropsch waxes. The activities of 7−9 are independent of ethylene pressure and the presence of B(C 6 F 5 ) 3 , suggesting that the catalyst resting state is the corresponding (PR 2 CB 9 Cl 9 )PdR(H 2 CCH 2 ) adduct. The molecular weights of the oligomer/polymer products are independent of ethylene pressure, which is consistent with an associative chain transfer mechanism. Reaction of 9 with ethylene generates the corresponding ethylene complex (κ 2 -P,O-P(o-OMe-Ph) 2 CB 9 Cl 9 )PdMe(H 2 CCH 2 ), which inserts ethylene at −20 °C with a barrier (ΔG ⧧ insertion ) of 18.1 kcal/mol.