November 2022 Reader Quiz: What Did You Learn? The Duncan family - Net worth: $6.31 billion 74. We are a bunch of sweat-hog lawyers over here, getting it on in the courtrooms. He quit Big Blue when they wouldnt give him more computers to sell after he hit his annual quota by March. - Source of wealth: private equity, Self Made, #17. The two towns are much the products of their histories, says Odessa trial lawyer Warren Burnett. the Mortal Mustache, a.k.a. No. July 8, 2014. What Happened? Stacker compiled a list of the richest billionaires that are residents of Texas, using data from Forbes. Perot developed the 18,000 acre AllianceTexas logistics center in Fort Worth, but is determined to make a lasting contribution to the Dallas skyline hes working with famed architect Norman Foster on a 70-story skyscraper project. The heirs of pipeline tycoon Dan Duncan carry a combined net worth of $22.4 billion, which makes them the 10th richest family in the entire. Still awed by his 86-year-old father: I got to see the American dream unfold in my living room. F. Follow this author to stay notified about their latest stories. Midland, Burnett is saying, simply has more of the genteel about it. Save all of your favorite content in one curated collection. Ann Walton Kroenke, one of the two daughters of Bud Walton, lives on a 535,000-acre ranch about 50 miles northwest of Wichita Falls. The Lee & Ramona Bass Foundation is endowed with more than $50 million. 15 in Texas. In 1991 Lee donated $20 million to alma mater Yale for a new program in Western Civilization. This is a carousel. Mark your calendar for a magical day. Pictured above is T.T. About all I find to do thereoutside of enjoying the company of a precious few old friendsis drink and hope for an improbable romantic adventure while waiting for my flight to be called; its either that or a big night in the Christian Science reading room. The Butt family last year ranked as the 23rd richest family in the country, equal to the Rockefeller family in New York. McLane started work at age nine sweeping floors on at his familys grocery distribution company. Enjoys ranches in Kentucky and New Mexico, homes in Dallas and the Hamptons. Owns an estimated 190,000 acres of land across the west. - Residence: Houston, Texas One thing fails to lead to another, so to speak, and soon the Midland Women feel stuck out here. He owns one of the largest collections of vintage military war planes and is a wildlife conservationist working to preserve 6 million acres in Tanzania. wealthiest families in midland texas bermuda business directory. McNair secured the NFL franchise for Houston for $700 million in 1999 and created the leagues youngest expansion team. This year, Disney On Ice will feature the magical adventures of two popular Disney films Frozen and Encanto. The four Bass brothers Sid, Edward, Robert, and Lee each inherited $2.8 billion from their oil tycoon uncle Sid Richardson after his death in 1959. Heres What We Want at the Park. The crowd sang along: of blue moons and of bicycles built for two and of goodnights to Irene. It was tent-city ugly, the bedroom town of the driller and the lowly roustabout who suffered the fumes and rattlings of growling giant trucks; it had the feel and smell of grease in its pores. #20. Of course, not nearly everybody makes that amount of money, Amarillo economist Karr Ingham told the Reporter-Telegrams Higgins, referring to the $65,173 average. There are differences in the townsthough not so powerful or so varied, probably, as the natives like to thinkand certainly there is a mutual dedication toward maintaining them. The magazine racks recommend a high percentage of detective stories, mechanical manuals, homemaking hints, and almost as many porn offering as Times Square outlets. In 1954, Cullen memorably donated $2.5 million (a huge sum at the time) to UH for winning a football game. You may not be able to buy a sense of humor, but you can sure make people smile with money. Missouri City is one of the wealthiest towns in Texas, with a median household income of $76,572. Then after Frozen, the audience will take a journey to Columbia to meet the family from Encanto, the Madrigals. The Forbes 400net worth cut off this year was a record-high $2 billion. He was the first to develop the Barnett shale field in Texas, which he later sold to Devon Energy in 2002 for $3.5 billion. Job specializations: Finance. The 400 together have a massed wealth of $2.7 trillion, up from $2.4 billion last year, according to the magazine. he earned degrees in geology and geophysics. Kids of all ages will be letting it go and not talking about Bruno when Disney On Ice hits the H-E-B Center at Cedar Park in April. - Residence: Electra, Texas Universal Studios Is Coming to Frisco. In 1913, David Fasken Sr., a Canadian lawyer, purchased a ranch in West Texas that was later discovered to straddle a sea of Permian Basin oil, according to Forbes. One of 15 children (by three women) of legendary oil wildcatter H.L. Houston's richest families are not just throwing money away. Welcome to Palo Pinto, Texass Next State Park, The Photo the Dallas Cowboys Never Wanted the Public to See, The Top 50 Texas BBQ Joints: 2021 Edition, Please Do Not Touch the Toxic Toupee, a.k.a. Leave them blank to get signed up. One time she wrote about sports. Them sumbitches in Midland, he charges, they wont let go of the past. The Richest Woman In The Worldis the only daughter of Wal-Mart founder Sam Walton. PAPERCITY 2023 urban publishers, inc. all rights reserved terms & condition // privacy policy // sitemap. Fort Worth's Alice Walton daughter of Walmart Inc. founder Sam Walton is North Texas' richest person with an estimated net worth of $61.8 billion. Photographer: Jin Lee/Bloomberg. The end of an era came in early 2017 when the Bass brothers agreed to sell their oil company to Exxon Mobil for $6 billion. He would later make it big in natural gas, oil and petrochemical pipelines. Charles Butt- Net worth: $7.5 billion (#293 wealthiest in the world) Oil workers on a rig in Midland County,Texas. Then silver collapsed 80% in 1980 and the brothers fell of the Forbes 400 and into bankruptcy. He was busy building his first fortune in real estate, buying up apartment buildings. The next richest Texan is Alice Walton with an estimated $55.7 billion. Theres nothing like family money. Two of his daughters, Milane and Dannine, are active philanthropists around Texas. The oil and real estate company, which celebrated its 100-year anniversary in May 2013, is one of the regions largest private energy producers with nearly 1,000 wells, according to Forbes. Accounting. Upon his death, he left his nearly $10 billion estate to his four children. As wereportedearlier this year, there arent enough homes to house all the oilfield workers. 1 of 32 Click through the gallery to see the richest families in Texas, . The 10 Richest Cities In Texas For 2022. They sold the company to Yahoo! A sale of that. - Source of wealth: sports, real estate, Self Made, #4. Dan Duncan, pictured in this 2010 file photo, is a rags-to-riches story. - Source of wealth: oil, Self Made, #7. Defensive of his rep: If someone tells me my brand isnt a craft-distilled spirit because its too big, I just say, I make it the same way Ive always made it. We can transcend the script of a pre-defined story, and pave the way for the future that we design. The PC company that Dell started in his University of Texas at Austin dorm room at 19 is now a hardware and storage juggernaut, Dell Technologies. Visiting longhairs continue to receive funny looks in polite society and need only enter the rowdier beer joints to assure their butt-stompings. As early as 1950though the fact then was obscured by the runaway boomits formerly vigorous old-timers began to lose their visions and their grips. While the land lay parched, the people underplayed the disaster. This inherited inclination not to face reality and to soft-pedal shortcomings or failures, accounts in some measure for Midlands having been out-stripped by Odessa in recent years. The angry Old Testament God is not dead in the Permian Basin; indeed, He remains healthy and able to extract His vengeances. The foundation has historically been a big a supporter of education, said Executive Director Jeff Alsup, noting the first grant was given to a student. Movies reach these Permian Basin precincts only after much aging in the can. Odessa literally kept a low profile: you could scarcely see its skyline from the nearby oil fields. There is a new restaurant/bar opening this week on Big Spring Street in central Midland. Descendants of Sam Walton and brother Bud Walton own about half of Walmarts stock. The Forbes 400 net worth cut off this year was a record-high $2 billion. Jeff Salamon is the deputy editor at Texas Monthly. Billionaires are ranked by net worth as of January 3. For the more upscale half of the Permian Basin, that was an 11.9% increase from 2010, though as Sarah Higgins of the Midland Reporter-Telegram reported, per capita income in the city actually rose even more (12.9%) between 2009 and 2010. She is chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father, and owns Austin-based Texas Monthly magazine. Did you know? Sin City has become Dullsville. For generations Midland and Odessa have been going at it out in West Texas. With his three brothers, Robert Bass inherited a small fortune from their oil tycoon uncle Sid Richardson (d. 1959) and built it into a big one. Scott Duncan- Net worth: $6.5 billion (#364 wealthiest in the world) Dell now owns 66% of Dell Technologies, but the majority of his fortune is in his private investment firm MSD Capital, which has stakes in hotels like the Four Seasons Maui and Applebees and IHOP chain operater DineEquity. Believed to own Chub Cay island in the Bahamas and a golf course near Houston. Thirty years ago, before the failure of First National Bank and the long economic dry spell that followed, Forbes Magazine noted that eight Midland millionaires were among the richest people in the country. Tom Foster writes about business, innovation, and creative people. Midland hung a horse thief from a courthouse tree at the turn of the century; juries in each town have voted people eligible for the electric chair. This geological happenstanceor was it a signal of Gods Texas will?kept the sour, gassy, vomity stink in the air; kept the flares and the sump pits burning at night; kept the fry-cook cafes preparing sack lunches; kept the three-dollar motels full; kept the beer and the adrenaline and the blood flowing; kept the crews working around-the-clock towers. Odessa lighted the dark desert with thousands of flares and hundreds of drilling rig lights; the casual nocturnal passer-by might have judged himself to have stumbled on an undiscovered metropolis. There was a harsh paternalism to the place, one bordering on Group-think. The richest American in 2017 is former Microsoft chairman Bill Gates with an estimated wealth of $81 billion. Their foundation is endowed with more than $90 million. A diversified economy was their goal. Residents in the more upscale half of the Permian Basin make more money per capita than people in New York, San Francisco, Dallas, and Houston. Listed on 2023-01-01. Tilman Fertitta- Net worth: $7.9 billion (#267 wealthiest in the world) Stacker distribution partners receive a license to all Stacker stories, When I visited an Odessa bookstore in the late 1960s, while on a promotion tour, the Birchers posted a lady who wrote down all the dangerous things I said. As a boy, Warren spent summers working with his dad as a welders assistant on Sun Pipeline in Texas. His Landrys restaurant brands include Bubba Gump Shrimp, Saltgrass Steak House, and every parents animatronic gorilla nightmare: Rainforest Cafe. 14. In fact business journalists have long had their eyes on us. Bill Gates, former Microsoft chairman, is the richest American with $89 billion, according to Forbes. Forbes lists 73 billionaires in Texas. (Photo by Kevin C. Cox/Getty Images), in 2011 she opened Crystal Bridges museum. Called President Trumps comments on NFL players kneeling divisive and counterproductive.. Amazon chief Jeff Bezos is the second-richest American with $81.5 billion, according to Forbes. More Education Best Places to Live in Midland Rankings View All Southwest Used to Do Everything Right. You could fall from favor, maybe even lose a job, by joking of the oil business or getting a shade sloppy at the office party or too openly promoting Leftist candidates. 11): $51.4 billion Michael Dell (No. Because of its strategic location, Missouri City is a great place to consider if you are thinking of relocating. Thirteen Houston billionaires made it with one actually living in The Woodlands. Along the clutter of the East Eighth Street dives you could find the sort of action you craved: beer-drinking music, fisticuffs, dice or card opportunities, painted ladies for hire. And money means Im gonna be real happy in my surroundings., Yes, its true. Compared to Texas, Midland home prices are more expensive than the state's average of . 15 among the countrys wealthiest families, the Butts have a net worth of $17.8 billion. Randa enjoys the highest profile among the four Duncan siblings. It was considered the richest family in the world for much of 1800's. It originated from Frankfurt in the old Holy Roman Empire and the family members have Ashkenazi Jewish ethnicity. Odessa, on the other hand, has little demand for corporate lawyers. The net worth of Fort Worth billionaire Alice Walton, the only daughter of Walmart founder Sam Walton, accounts for a little over one-fourth of the family fortune. The Hoffmann and Oeri Families. Now under construction is a new $450 million arena with half its cost being borne by Bass and other donors. Friedkin owns Gulf States Toyota, the $8 billion (est. The Wertheimers with $62 billion. They seem to smell it. Four generations later, the Fasken family business, Fasken Oil and Ranch, is still making a killing off of West Texas crude.. Daughter Alexis competes in the National Hot Rod Association. Bonderman still works out of Fort Worth while Coulter is based in San Francisco. 10. Robert ventured off on his own in 1986, creating a family office that became Oak Hill Capital Partners. While the U.S. is home to the most billionaires out of any other country, Americans are somewhat split in their feelings on the billionaire class. By the time they sold their oil interests to ExxonMobil in 2017 for $6 billion theyd already been diversifying for 40 years. 1 richest in Michigan this year, ranking them at 118th worldwide. together, those eight midlanders had a combined estimated total wealth of $2.45 billion, and included cy wagner and jack brown, each with a personal wealth of $550 million; carlton beal ($400. Midland is currently growing at a rate of 1.56% annually but its population has decreased by -1.60% since the most recent census, which recorded a population of 141,194 in 2020. To even make the list, a family must boast a combined net worth of at least$1.2 billion. ), After stepping down as president of Enron, Kindercofounded pipeline giant Kinder Morgan in 1997. Driven to bring world-class art to Arkansas, in 2011 she opened Crystal Bridges museum in Bentonville. Twelve percent of the wealthiest Texans named on the 1982 list were from Midland. During a so-called retirement, Mitchell turned to real estate and bought Bald Head Island in North Carolina along with hotels in Galveston. Odessa, in this particular, shares instincts with Fort Worth; Midland is more of Dallas, serious minded and buttoned down. Texass Most Venomous Caterpillar. Hunt. Elon Musk, Tesla and SpaceX CEO, and new Texan, topped the list for 2022 with a. Its tough to get a hotel room, Blaskovich wrote. - Residence: Houston, Texas Walmart heir Alice Walton of Fort Worth tops the Forbes' list of Texans with an estimated net worth of $38.2 billion, ranking as the 13th richest American. But its better now, a late-thirtyish Odessa merchant insisted. But 1997 oil and gas had driven him to the drinks trade. Robert F. Smith- Net worth: $8.0 billion (#254 wealthiest in the world) Thanks to a temporary repeal of the death tax, when pipeline tycoon Dan Duncan died in 2010 at 77 he became the first American billionaire to pass his fortune to his four kids tax free. Ann Walton Kroenke- Net worth: $8.7 billion (#215 wealthiest in the world) Midlands full of eight-thousand-dollar-a-year millionaires, Odessans liked to sneer. Has also donated $50 million to Stanford. When I read Sinclair Lewis Main Street, I was astonished to learn that its self-winding promoters and glad-handing exploiters had done their business in Minnesota rather than Midland. These 5 Texas clans cash in on Forbes' list of richest American families, SXSW 2014 spotlight: CultureMap presents 30 Days, 30 Artists, Lincoln Properties The Grand Residences at The Domain, Disney On Ice transforms two favorite films into one magical performance in Austin. Midland, on the other hand, seemed dark and shuttered; its native youth complained of sidewalks rolling up at nine oclock. Jones Family Ranch - 255,000 acres Located on the South Texas coast near Corpus Christi, the Jones family ranches were founded by W. W. Jones in 1897 on land that had been part of the Las. In June 2017, after intense protests led by the Standing Rock Sioux tribe and an executive order from President Trump, Energy Partners was able to finish the 1,172-mile line, which carries 500,000 barrels per day. Midland oil dynasty lands on list of wealthiest families. Whats that going to be in north Midland? In early 2017 Lee Bass and his three brothers sold their oil company, originally inherited from tycoon great-uncle Sid Richardson (d. 1959) to ExxonMobil for $6 billion. As in an earlier time, Odessa is looser, more informal, more rollicking, more old-shoe and howdy-do. The other Texas billionaires that made Forbes' list are: Jerry Jones: Owner of the Dallas Cowboys. Whyd you stop here? he demandedclearly implying that surely she had run out of gas, lost her road map, or might be on the lam with Patty Hearst. Everybody played a lot of golf and drank martinis. The U.S.'s wealthiest billionaires are mostly concentrated within just a couple of industries: finance and investments, and technology. Home appreciation the last 10 years has been 18.7%. It was my misfortune as a teenager in the mid-1940s to live in Midland while harboring Odessa preferences in my soul, my character, and my heritage. In 1984 bankruptcy attorney Trevor Rees-Jones decided that he wanted to be the guy making the deals, not the schlub cleaning up after them. A big Republican donor, Rowling would prefer to support a Pence/Rubio ticket in 2020. Though fast-food operations offer a variety of delicacies from pizza to barbecue to shrimp to Mexican specialties to chicken broiled, fried, baked, and maybe spanked, it may be safely said that neither Midland nor Odessa offers anything remotely resembling a first-class restaurant; if you asked to see the wine cellar, theyd think you were anticipating a tornado. The companys annual sales are around $28 billion. From any decent distance these lonely sisters of the barren flat plain, these isolated twin mini-cities of the vast Permian BasinMidland and Odessaappear more alike than not. Sid has been laying low since his 2011 divorce from super-socialite wife Mercedes. Not that its like it was in the early Fifties; the towns not a wide-open sinkholebut were keepin an eye on it. Midland, too, has known its drilling activity; as in the older time, however, it fails to bustle in concert with Odessas tempo. Hillary Hoffower. Its banks having risked no big money and its community fathers then lacking Midlands stubborn feverish dreamy boosterisms, it remained a vulgar sprawl of a townthe home of pipe yards, oil-well servicing outfits, tool companies, mud companies, trucking companies, construction companiesmany operating from shacks or Quonset huts. Really, it is! He and wife Laura have given $500 million to the Arnold Foundation. Another conspicuous absence from this Texas rich list is Charles Butt, the scion of the family behind the beloved HEB supermarket chain. By 1987, she had consolidated her oil and gas operations into one company directly under her ownership and control, which was involved in all aspects of exploration, production, and marketing oil and gas in the Permian Basin, according to the story. Forrest Wilder writes about politics and the outdoors. But oils worth digging up again, yessir, and out there in the Permian Basin sands theyre dreaming of it reaching $15 or $20 a barrel and making new millionaires all over again. Midland lost in each case; the companies which did not close their local operations pared them to the bone, transferring their main forces to Tulsa or Houston or elsewhere. Then, on Tuesday, January 24, tickets will go on sale to the general public. National business periodicals, however, are on a first-name basis with us. Investor Warren Buffett is the third-richest American with $78 billion, according to Forbes. When Midlands big uns decided to loan money in a big way for oil speculationas World War II ended and manpower and materials were in goodly supplythey were not exactly running foolish, riverboat gambler risks. The extended Walton family still own more than half of Wal-Mart. The gap in net worth between the #25 and the #1 richest family is surprisingly wide, with the wealthiest family in America now worth more than $234 billion. Cuban has since spent the last decade and a half doing just about anything he wants. There he hooked up with James Coulter and in 1992 they left to launch Texas Pacific Group, aka TPG.

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