Texas is reputed as a “big” state, and the residents of this great southwestern region hugely do things. Most of us are familiar with the stereotypes which were proliferated through the popular television series “Dallas,” with the ultra-wealthy Ewing family. The truth of the matter is that Texas is a state of many families who have made it big in cattle, oil, and other industries, including the presidential Bush family, who made it big in oil and also in the political arena with father and son serving as President of the United States within a brief period of time in between one another. We were curious about who the richest people in Texas are, and it might surprise you. Here are the top ten richest Texans.
10. Tilman Fertitta – Net worth: $4.91 billion
Tilman Fertitta is the owner of Fertitta Entertainment, and he also serves as the chief operating officer and chairman. Other company’s which fall under the umbrella of Fertitta Entertainment are Landry’s, which is also the parent company of the Bubba Gump Shrimp Company. These are not the only large companies that are under his ownership. He is also the owner of the Golden Nugget Casinos as well as the Texas-based basketball team, the Houston Rockets.
9. Robert F. Smith – Net worth: $5 billion
Robert F. Smith is the founder of the Vista Equity Partners firm. He established the finance and investments company in 2000. Within just 19 years, the company became prominent in the finance industry and is now the holder of assets with a value of more than $46 billion. Before entrepreneurship and building his own company, Mr. Smith worked in the tire industry as an engineer, at Goodyear, then he went to work for Kraft Foods.
8. Robert Bass – Net worth: $5.06 billion
Robert Bass was born into a family of wealthy people. His uncle was an oil tycoon, and upon his elder kin’s death, Bass inherited a small fortune of $2.8 million in 1959. He used the money wisely to start his own business. Bass founded Oak Hill Capital Partners which is an investment firm. The company makes large investments in companies which are well-established such as Burger King, Blackboard and others. Mr. Bass is a resident of Fort Worth and his fortune came from the energy industry initially.
7. Robert Rowling – Net worth $5.8 billion
Robert Rowling is a resident of Dallas, Texas. He’s the owner of Omni Hotels. His family was in the oil business, and he sold the oilfields which belonged to his family to start his own business. His skill at entrepreneurship paid off. He made a $500 investment to purchase the line of hotels, and made a fortune in the hospitality business, then expanded by buying Gold’s Gym, yet another profitable venture. He got his start in the oil business and expanded from there.
6.Ray Lee Hunt – Net worth: $6.1 billion
Ray Lee Hunt was born the son of H.L. Hunt who was a famous oilman who made his fortune in the oil industry. Ray Lee followed after the family business and he expanded the business internationally, profiting on the shale boom and investing in oil exploration and discoveries made in Peru and Yemen. He also invested in real estate, most notably in highly profitable commercial real estate in Dallas, Texas and surrounding areas.
5. The Duncan family – Net worth: $6.31 billion
Dan Duncan established the Enterprise Products Partners company in 1968. This was an oil pipeline venture that made his the richest person in Houston, Texas. After passing away in 2010, the fortune went to his children with equal shares, making each of them tied for the fifth richest people in Texas. The names of the heirs are Randa Duncan Williams, Danine Duncan Avara, Milane Duncan Frantz, and their brother Scott Duncan. Their wealth was passed on to them through inheritance, and Milane serves as the director of the Duncan Family Foundation as a philanthropist, Randa is the chairman of the board and also sits on the University of Texas Health Science Center board, and she is also the only one of the children to remain involved with the family business. The Duncan family’s wealth was earned through the oil industry.
4. Jerry Jones- Net worth: $8.9 billion
Jerry Jones is best known as the general manager and owner of the NFL team the Dallas Cowboys. He paid $150 million for total ownership of the team in 1989 and since that time, the team grew in value to $5 billion. He made a fortune as a controlling shareholder of Comstock Resources, which is a gas and oil company in Texas.
3. Andrew Beal – Net worth: $9.4 billion
Andy Beal made a fortune as a math genius who is self-taught. he became an expert in the identification of distressed assets and he made wise purchases when the California blackouts were occurring in 2001. He made power companies bond acquisitions and invested in multiple markets, eventually becoming the owner of several Las Vegas and Dallas firms and banks. He’s also established a reputation for being the greatest poker player in the world.
3. Richard Kinder – Net worth: $11 billion
Richard Kinder made his massive fortune in the energy industry. Heis the co-founder of the Kinder Morgan company which is a pipeline for gas and oil business. The company grew to become the biggest firm for US energy infrastructure. The firm is headquartered in Houston, Texas.
2. Michael Dell – Net worth: $39.1 billion
Michael Dell founded the Dell Technologies company and currently serves as the CEO and chairman. He began by selling computers out of his room when he was attending the University of Texas. His company has grown to a valuation of $60 billion. Mr. Dell lives in Austin Texas, near the headquarters of the Dell corporation
1. Alice Walton – Net worth: $52.4 billion
Alice is the daughter of the founder of Wal-Mart, Sam Walton. She inherited the company upon the death of her father, along with her siblings. She is the only one of the three children who opted to not stay involved with the Wal-Mart corporation, and instead, struck out on her own. She is an avid art collector and her prize collection is valued at over $500 million alone. She established the Crystal Bridges Art Museum in Bentonville, Arkansas which features works by Georgia O’Keeffe, Norman Rockwell, Andy Warhol, and others, as well as a home that was designed by Frank Lloyd Wright. She owns a home in Fort Worth, Texas and is a resident of the city.