Local billionaires Jeffery Hildebrand and Tilman Fertitta top list of richest in Houston, per Forbes

meet the billionaires

Jeffery and Mindy Hildebrand are noted for their service to employees and community. Photo by Anthony Rathbun

According to Forbes, half of all of the world’s billionaires are less wealthy than they were in 2022. But that’s not the case for most Houston-area billionaires like oil tycoon Jeffery Hildebrand, who was named the richest man in the city.

The 2023 edition of Forbes’ World’s Billionaires List declared Hildebrand’s net worth at $10.2 billion, placing him as the 171st richest person in the world. His fortune is $2.7 billion higher than his 2022 net worth of $7.5 billion, when he ranked No. 316 on the list.

As CultureMap reported, in 2015, Hildebrand made headlines when he gifted each of his 1,381 employees a $100,000 holiday bonus.

Houston’s favorite hospitality mogul and Rockets owner Tilman Fertitta is the city’s second-richest man, with his net worth climbing up to $8.1 billion. He ranked No. 256 on Forbes’ list, substantially higher than his No. 471 rank in 2022 when his net worth was $5.6 billion. Fertitta is surely living life to the fullest after hosting Miami rapper Pitbull at his San Luis Salute celebration earlier this year.

Tilman Fertitta Shut Up and Listen book laughing

Tilman Fertitta is sitting pretty at No. 2. Photo by J. Thomas Ford

Other Houston-area billionaires that made Forbes 2023 world’s richest list are:

  • Pipeline magnate Richard Kinder: tied for No. 317, $7.2 billion, down from $7.5 billion
  • Houston siblings and pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams: all tied for No. 352, $6.8 billion, up from $6.6 billion
  • Toyota mega-dealer Dan Friedkin: tied for No. 466, $5.5 billion, up from $4.3 billion
  • Houston Texans owner Janice McNair: tied for No. 534, $5 billion, up from $4.2 billion
  • Hedge fund honcho John Arnold: tied for No. 878, $3.3 billion, unchanged since 2018
  • Energy exploration chief exec George Bishop: tied for No. 982, $3 billion, up from $2.7 billion
New to the 2023 report is Kamal Ghaffarian, the co-founder and executive chairman of Houston's Axiom Space, with a net worth of $2.1 billion. Though his LinkedIn notes that he is based in Maryland, reports add that he resides in Florida. His Forbes rank is No. 1434.An honorable mention (and billionaire newbie) is Amy Adams Strunk, the controlling owner of the Tennessee Titans and daughter of Houston Oilers owner Bud Adams. She has a residence in Waller (about 40 miles northwest of Houston) and her net worth is $1.7 billion — making her No. 1725 on the list.One name missing from Forbes 2023 report is software entrepreneur Robert Brockman, who passed away last August. Brockman fell from grace after he was charged in the largest tax fraud case in U.S. history in 2020. Forbes listed his 2022 net worth at $4.7 billion. He is survived by his wife, son, and two grandchildren.Elsewhere in Texas, Elon Musk reigns as the richest man in the state and in its capital city of Austin with a net worth of $180 billion. The Tesla and Space-X founder is the second richest person in the world, wedging his way between No. 1 Bernard Arnault of France (overseer of the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora), with a net worth of $211 billion; and No. 3 Jeff Bezos, the American Amazon founder, worth $114 billion.

Dallas Cowboys owner Jerry Jones'$13.3 billion net worth won him the title of Dallas' richest person, and the 12th richest sports owner on Forbes' "World's Richest Sports Owners 2023." His net worth is up from $10.6 billion last year.

The Fort Worth-based Walmart family heiress Alice Walton earned a spot on Forbes’ list as the third richest woman in the world. Her fortune is pegged at $56.7 billion, down slightly from $65.3 billion last year.

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This article originally ran on CultureMap.

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Richard and Nancy Kinder are among America's most wealthy. Photo by Michelle Watson/Catchlight Group

Richard Kinder and 10 other Houston billionaires cash in on Forbes list of richest Americans

where's the money

Never one to overtly draw attention to himself, Houston pipeline magnate — and Memorial Park benefactor — Richard Kinder has landed on a coveted list, as have 10 other Houstonians.

Forbes has released the Forbes 400 list of richest Americans, and Kinder ranks eighth in Texas and 128th nationally with an estimated net worth of $7.1 billion.

Meanwhile, Houston hospitality king and Rockets owner Tilman Fertitta ranks 11th in Texas and 158th nationally with an estimated net worth of $6.3 billion.

Houston pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams tie for 12th place in Texas and tie for 161st nationally. Each has an estimated net worth of $6.2 billion.

Software entrepreneur Robert Brockman ranks 19th in Texas and ties for 229th nationally with a net worth of $4.7 billion.

Oil mogul Jeffery Hildebrand ranks 20th in Texas and ties for 240th nationally with a net worth of $4.6 billion.

Toyota mega-dealer Dan Friedkin ranks 24th in Texas and ties for 253rd with an estimated net worth of $4.4 billion.

Houston Texans owner Janice McNair of Houston ranks 26th in Texas and ties for 269th nationally with an estimated net worth of $4.2 billion.

Finally, local hedge fund honcho John Arnold ties for 30th in Texas and ties for 358th nationally with an estimated net worth of $3.3 billion.

Here's how billionaires from other major metros in Texas fared on the Forbes 400 list.

Austin

No shocker here: Tesla and SpaceX guru Elon Musk ranks No. 2 among the richest Americans and No. 1 among the richest Texans. What is shocking, however, is how much Musk's net worth skyrocketed from 2020 to 2021. Hint: It's more than $100 billion.

This year, the Forbes 400 estimates his net worth stood at $190.5 billion as of September 3. To give that some context, the size of the economy in the state of Kansas exceeds $193 billion.

Last year, Musk's estimated net worth was $68 billion. This means that from 2020 to 2021, his net worth exploded by $122.5 billion, or 180 percent.

Among the richest Americans, only Amazon's Jeff Bezos beats Musk — but not by much. The Forbes 400 pegs Bezos' net worth at $201 billion as of September 3, up from $179 billion at the same time last year.

Forbes lists Musk's residence as Austin, although he has said he spends much of his time in Boca Chica. The Texas Gulf Coast community hosts Starbase, a launch site for SpaceX rockets. Regardless of precisely where he lives, Musk does spend a lot of time in the Austin area, where Tesla is building a $1.1 billion vehicle manufacturing plant. Musk relocated to Texas last year.

Before Musk arrived in the Lone Star State, Walmart heir Alice Walton of Fort Worth ranked as the richest person in Texas. She's now in second place, with a net worth estimated at $67.9 billion. Walton ranks as the 12th richest American and richest American woman on this year's Forbes 400.

Aside from Musk, Austin billionaires who appear on the Forbes 400 are:

  • Michael Dell, founder, chairman, and CEO of Round Rock-based Dell Technologies. Estimated net worth: $50.1 billion. Texas rank: No. 3. U.S. rank: No. 18.
  • Robert Smith, founder, chairman, and CEO of private equity firm Vista Equity Partners. Estimated net worth: $6.7 billion. Texas rank: No. 9. U.S. rank: No. 141.
  • Vodka titan Bert "Tito" Beveridge. Estimated net worth: $4.8 billion. Texas rank: No. 18. U.S. rank: No. 224 (tie).
  • IT entrepreneur Thai Lee. Estimated net worth: $4.1 billion. Texas rank: No. 27 (tie). U.S. rank: No. 273 (tie).
  • Software entrepreneur Joe Liemandt. Estimated net worth: $3 billion. Texas rank: No. 33 (tie). U.S. rank: No. 377 (tie).
  • Jim Bryer, founder and CEO of venture capital firm Bryer Capital. Estimated net worth: $2.9 billion. Texas rank: 35 (tie). U.S. rank: No. 389 (tie).

Dallas-Fort Worth

Banking and real estate mogul Andy Beal of Dallas holds the No. 5 spot in Texas and No. 78 nationally. His estimated net worth is $9.9 billion.

Dallas Cowboys owner Jerry Jones of Dallas sits at No. 7 in Texas and No. 86 nationally with an estimated net worth of $9.1 billion.

Money manager Ken Fisher of Dallas ranks 10th in Texas and 151st nationally with an estimated net worth of $6.4 billion.

Oil and real estate titan Ray Lee Hunt of Dallas ranks 16th in Texas and ties for 188th nationally with an estimated net worth of $5.7 billion.

Oil and investment mogul Robert Bass of Fort Worth ranks 17th in Texas and ties for 212th nationally with an estimated net worth of $5 billion.

Private equity kingpin David Bonderman of Fort Worth ties for 21st in Texas and ties for 247th nationally with an estimated net worth of $4.5 billion.

Media magnate and Dallas Mavericks owner Mark Cuban of Dallas ties for 21st in Texas and ties for 247th nationally with an estimated net worth of $4.5 billion.

Oil and gas honcho Trevor Rees-Jones of Dallas ties for 21st in Texas and ties for 247th nationally with an estimated net worth of $4.5 billion.

Hotel and investment guru Robert Rowling of Dallas ranks 25th in Texas and ties for 261st nationally with an estimated net worth of $4.3 billion.

Margot Birmingham Perot of Dallas, widow of tech and real estate entrepreneur H. Ross Perot Sr., ties for 27th in Texas and ties for 273rd nationally with an estimated net worth of $4.1 billion.

Oil and gas tycoon Kelcy Warren of Dallas ranks 29th in Texas and ties for 289th nationally with an estimated net worth of $3.9 billion.

Real estate bigwig H. Ross Perot Jr. of Dallas ranks 32nd in Texas and 363rd nationally with an estimated net worth of $3.2 billion.

Homebuilder Donald Horton and family of Fort Worth tie for 35th in Texas and tie for 389th nationally with an estimated net worth of $2.9 billion.

Oil baron W. Herbert Hunt of Dallas ties for 35th in Texas and ties for 389th nationally with an estimated net worth of $2.9 billion.

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This article originally ran on CultureMap.

Pipeline mogul and Memorial Park benefactor Richard Kinder (pictured with his wife, Nancy) leads the Houston billionaires. Photo by Michelle Watson/Catchlight Group

Houston billionaires named to Forbes' list of richest Americans for 2019

Seeing dollar signs

Who's the richest person in Texas? That title once again goes to Walmart heiress Alice Walton, of Fort Worth, according to the newly released Forbes 400 ranking. But seven very wealthy Houstonians also appear on the list of the 400 richest people in the country right now.

The top Houstonian on the list is Houston pipeline mogul Richard Kinder, who is tied with another Walmart heiress, Ann Walton Kroenke, for sixth place in Texas and No. 67 nationally. Forbes estimates they're each worth $7.5 billion.

The other Houston billionaires on the list are:

  • Randa Duncan Williams and her siblings Dannine Avara, Scott Duncan, and Milane Frantz, all of whom live in Houston. Each boasts an estimated net worth of $6.3 billion, tying them for the eighth place in Texas and 100th place nationally.
  • Restaurant mogul and Houston Rockets owner Tilman Fertitta, $4.9 billion. Tied for 15th in Texas and No. 140 in U.S.
  • Toyota titan Dan Friedkin, $4 billion. Tied for No. 21 in Texas. Tied for No. 187 in U.S.
  • Houston Texans co-founder Janice McNair, widow of businessman and Texans co-founder Bob McNair, $4 billion. Tied for No. 21 in Texas and No. 187 in U.S.
  • Energy executive Jeffery Hildebrand, $3.8 billion. No. 23 in Texas. Tied for No. 207 in U.S.
  • Former hedge fund manager John Arnold, $3.3 billion. No. 26 in Texas. No. 261 in U.S.
  • Energy mogul George Bishop of The Woodlands, $2.4 billion. Tied for No. 33 in Texas and No. 355 in U.S.

With an estimated net worth at $51.4 billion, Walton is the 11th richest person in the country (and the richest person in the Lone Star State). Second in line is Austin's Michael Dell, founder, chairman, and CEO of Round Rock-based Dell Technologies, who notches a net worth of $32.3 billion, which puts him at No. 18 on the list of America's billionaires. Holding down third place in Texas and 48th in the U.S. is Dallas banker and real estate titan Andy Beal, with an estimated net worth of $9.8 billion.

This year, Dallas Cowboys owner Jerry Jones got muscled out of the No. 4 spot in Texas by Stan Kroenke, whose professional sports holdings include the NFL's Los Angeles Rams. The estimated net worth of Kroenke, who owns a 520,000-acre ranch west of Wichita Falls, is $9.7 billion, compared with $8.6 billion for Jones. That puts Kroenke in 49th place and Jones in 56th place among the richest Americans.

Here are the other Texans who made it onto this year's Forbes 400, in order of ranking:

  • Omni Hotels and Gold's Gym king Robert Rowling of Dallas. $5.5 billion. No. 12 in Texas. Tied for No. 119 in U.S.
  • Oil and gas heir Ray Lee Hunt of Dallas. $5.2 billion No. 13 in Texas. No. 127 in U.S.
  • Venture capital entrepreneur Robert Smith of Austin. $5 billion. No. 14 in Texas. Tied for No. 131 in U.S.
  • Oil heir Robert Bass of Fort Worth. $4.9 billion. Tied for No. 15 in Texas and No. 140 in U.S.
  • Pipeline executive Kelcy Warren of Dallas. $4.3 billion. No. 17 in Texas. Tied for No. 159 in U.S.
  • Vodka tycoon Bert "Tito" Beveridge of Austin. $4.2 billion. Tied for No. 18 in Texas and No. 168 in U.S.
  • Margot Birmingham Perot of Dallas, widow of tech entrepreneur H. Ross Perot. $4.2 billion. Tied for No. 18 in Texas and No. 168 in U.S.
  • Tech entrepreneur and Dallas Mavericks owner Mark Cuban of Dallas. $4.1 billion. No. 20 in Texas. Tied for No. 179 in U.S.
  • Private equity giant David Bonderman of Fort Worth. $3.7 billion. Tied for No. 24 in Texas and No. 217 in U.S.
  • Oil and gas chief Trevor Rees-Jones of Dallas. $3.7 billion. Tied for No. 24 in Texas and No. 217 in U.S.
  • Investor and oil heir Sid Bass of Fort Worth. $3.1 billion. Tied for No. 27 in Texas and No. 275 in U.S.
  • John Paul DeJoria of Austin. $3.1 billion. Tied for No. 27 in Texas and No. 275 in U.S.
  • Tech entrepreneur Thai Lee of Austin. $3 billion. Tied for No. 29 in Texas and No. 287 in U.S.
  • Software entrepreneur Joe Liemandt of Austin. $3 billion. Tied for No. 29 in Texas and No. 287 in U.S.
  • Oil heir W. Herbert Hunt of Dallas. $2.6 billion. Tied for No. 31 in Texas and No. 333 in U.S.
  • Investor and former grocery distributor Drayton McLane Jr. of Temple. $2.6 million. Tied for No. 31 in Texas and No. 333 in U.S.
  • Hearing-aid titan Bill Austin of Brownsville. $2.4 billion. Tied for No. 33 in Texas and No. 355 in U.S.
  • Energy entrepreneur and Texas Rangers co-owner Ray Davis of Dallas. $2.3 billion. Tied for No. 35 in Texas and No. 363 in U.S.
  • Big-time banker Gerald Ford of Dallas. $2.3 billion. Tied for No. 35 in Texas and No. 363 in U.S.
  • Oil heir Edward Bass of Fort Worth. $2.2 billion. Tied for No. 37 in Texas and No. 370 in U.S.
  • Oil heir Lee Bass of Fort Worth. $2.2 billion. Tied for No. 37 in Texas and No. 370 in U.S.
  • Real estate developer H. Ross Perot Jr. of Dallas. $2.2 billion. Tied for No. 37 in Texas and No. 370 in U.S.
  • Private equity entrepreneur Brian Sheth of Austin. $2.2 billion. Tied for No. 37 in Texas and No. 370 in U.S.
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This article originally ran on CultureMap.

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10+ can't-miss Houston business and innovation events for August

where to be

School is back in session this month, and a busy slate of Houston business and innovation events follows. This month brings demo days, loads of networking opportunities and a major health symposium. Here’s what not to miss and how to register. Please note: this article may be updated to add more events.

Aug. 4 — CEOs: Build With AI, Exit With a Premium

Join Blue People for this engaging presentation by David Lopez, founder of Summa, at the latest installment of Tech + Tequila Talk. Lopez will discuss AI moves that can multiply a company's value.

This event is Tuesday, Aug. 4, from 5-7 p.m. at the Ion. Register here.

Aug. 4 — SEIP Demo Day

The Rice Center for Engineering Leadership will showcase the groundbreaking projects developed by its Summer Engineering Innovation Program at the 2026 Demo Day. Attendees can meet the SEIP participants and partners and hear the teams' final presentations.

This event is Tuesday, Aug. 4, from 6-8 p.m. at the Ion. Register here.

Aug. 5 — Summer Venture Studio Preview Day

The Liu Idea Lab for Innovation and Entrepreneurship (Lilie) will present its inaugural Summer Venture Studio Preview Day this month. Hear from the student founders selected for Lilie's summer cohort, which features teams ranging from the healthcare and artificial intelligence to advanced manufacturing sectors.

This event is Wednesday, Aug. 5, from 4-6 p.m. at the Ion. Register here.

Aug. 11 — Mercury Fund Day at the Ion: How Legacy Software Giants Are Going AI-First

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic will feature a working conversation with Senior Director of Growth at Twilio Mustafa Ali, Senior Director of Consumer Product at WhatsApp Zafir Khan, and Founder and CEO of utilITise Salim Gheewalla.

This event is Tuesday, Aug. 11, from 3:30-7 p.m. at the Ion. Register here.

Aug. 13 — Pints and Prototypes

TMC Innovation Lab will host its Pints & Prototypes networking event this month. Minneapolis-based Medtronic will support this month's event and has invited guest speakers to share their journey in the medtech scene.

This event is Thursday, Aug. 13, from 4-5:30 p.m. at TMC Innovation Factory. Find more information here.

Aug. 14 — Houston Methodist Cancer Symposium

The 14th Annual Houston Methodist Cancer Symposium will bring together Houston Methodist scientists and physicians from a broad spectrum of fields to discuss everything from innovative translational science to clinical updates. The symposium aims to provide education focused on improving patient care, research collaboration and leading medicine.

This event is Friday, Aug. 14, from 7:30 a.m.-4:45 p.m. at Houston Methodist Research Institute. Find more information and register here.

Aug. 14 — Hands-On Workshop: Build Your Own Reusable AI System

Impact Hub Houston and Social Media Breakfast of Houston will host this hands-on workshop on using Smart Card to create a repeatable process users can hand off to AI. Attendees should bring a laptop, an AI tool, and a task that AI could help with. The workshop will focus on working with ChatGPT, Claude or Gemini.

This event is Friday, Aug. 14, from 8:30-10:30 a.m. at the Ion. Register here.

Aug. 17-21 — Foundations of Cancer Therapeutics Crash Course

The Gulf Coast Consortia will host a virtual course focused on the commercialization aspects of moving cancer therapeutics toward the market. Presenters represent The University of Texas Medical Branch Galveston, the Greater Houston Partnership, TMC Innovation, the University of Houston, Texas Southern University and other major institutions.

This event begins Monday, Aug. 17, at 10 a.m. Register here.

Aug. 20 — Pickle Lab’s Two-Year Anniversary Celebration

Enjoy an evening of open-play pickleball, beats by a live DJ, giveaways and more at the second anniversary celebration of Pickle Lab in the Ion District. Enjoy a free beverage from Second Draught and food for purchase from the Crunchy’s for the Munchies food truck.

This event takes place Thursday, Aug. 20, from 6-9 p.m. at Pickle Lab at the Ion. Register here.

Aug. 20 — SBA Lender Matchmaking Event

Business owners can meet with multiple lenders in scheduled, one-on-one 15-minute sessions during this speed-dating style SBA event. SBA Houston District Office representatives will also be onsite to provide free business advising.

This event takes place Thursday, Aug. 20, from 8:30 a.m.–noon at SBDC Sam Houston State University – The Woodlands Center. Register here.

Aug. 27 — BiteLabs Digital Health and Innovation Summit

TMC Innovation and BiteLabs will host the Digital Health and Innovation Summit, which aims to connect clinicians, founders and investors. The event will include an AI in biotech panel, a healthcare AI ethics panel, a hiring in digital health panel, and pitches from BiteLabs USA HealthTech, AI, and Innovation Fellowship.

This event takes place Thursday, Aug. 27, from 10 a.m.–5 p.m. at TMC Innovation Factory. Register here.

Houston nonprofit wins Meta grant to study AI glasses for disabilities

Helping Houston

A grant from Meta will help Easter Seals Greater Houston determine whether wearable AI smart glasses improve accessibility for those with disabilities. The local nonprofit is one organization that received a share of $2 million that Meta allocated in late July.

"Meta is proud to select recipients, including the Easter Seals Greater Houston, based on demonstrated impact, scalability, and relevance to areas where hands-free technology can make the biggest difference," Meta executive Beth Murray said in a request for comment. "It was exciting to receive nearly 500 applications from organizations across the country, and now the real innovation begins here in Houston with the Easter Seals project to understand how different local communities can benefit from AI glasses."

Meta launched its AI Glasses Impact Grant program in January with the goal of delivering nearly $2 million in funds to organizations across the country to see how their Meta AI Glasses could improve people's lives. It selected over 30 recipients from more than 500 applicants.

Easter Seals is using the grant to help pay for its BridgingApps Program, "a community-centered pilot studying how three distinct populations — people with low vision, people with intellectual and developmental disabilities, and those with cognitive aging – can benefit from AI glasses," Meta says. Easter Seals is part of one of the oldest networks in America for disabilities, delivering disability support, veteran training, and other services. The Greater Houston branch was established in 1947.

Meta AI Glasses integrate AI personal assistance with wearable tech for a hands-free connective experience. While many people use their built-in cameras and social media access to create content, the Impact Grant promotes how the technology might assist people with disabilities as well as innovate in industrial and scientific fields.

Data storage and recall could aid people with memory loss, while interpretative AI facial recognition software may let neurodivergent and developmentally delayed people recognize social cues. The pilot program at Easter Seals will explore some of these possibilities.

Two other Texas organizations received grants. The University of North Texas will also explore disability assistance through Meta AI Glasses, in a school environment rather than in the general public space. Austin software company Embarcadero Technologies will use the glasses to build a remote training platform that can simultaneously mentor five junior workers at once.

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This article originally appeared on CultureMap.com.

Houston startup lands $10M to power up electrician staffing platform

money moves

Houston-based Buildforce, which provides a tech-enabled staff platform geared toward electricians and electrical contractors, has raised a $10 million Series A round led by Houston’s Saepio Capital.

Other investors in the round include Blue Heron Capital, Revolution’s Rise of the Rest Seed Fund, S3 Ventures and Chicago Ventures.

Buildforce says the funding will help fuel its national expansion and further development of its technology.

The startup, founded in 2019, connects electricians with electrical contractors for commercial and industrial construction projects. Buildforce’s mobile app helps electricians find and carry out work, and a web app helps electrical contractors find and manage electricians.

“This financing is a major milestone in furthering our mission to help people dedicated to a career in the construction trades lead more secure and fulfilling lives,” co-founder and CEO Moody Heard said in a news release.

Buildforce focuses solely on the electrical trade within the construction sector.

Nick Graziano, principal at Blue Heron, says the shortage of electricians is intensifying as demand for electricians accelerates, driven by data center construction, infrastructure development and energy transition initiatives.

The U.S. Bureau of Labor Statistics estimates the U.S. will need to hire about 80,000 new electricians per year through 2032 to catch up with demand. According to the National Electrical Contractors Association, the U.S. is grappling with a current shortage of 50,000 electricians.

A 2026 economic report from asset manager BlackRock says the electrical trade is expected to be the single fastest-growing employment category in the U.S. labor market over the next 10 years.

“Buildforce is capitalizing on a clear opportunity in America’s generational infrastructure buildout. We believe their mission to use technology to improve lives in the construction space will allow them to make a positive long-term impact on a large and important labor market,” added Jaan Bains, managing partner at Saepio Capital.

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