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 Kinder once again lands on this prestigious list. Photo courtesy of BBVA

11 Houston billionaires join Elon Musk on Forbes' list of the world's richest

mo' money

In the battle of the world’s billionaires, a newly minted Texan comes out on top — and nearly a dozen Houstonians fare quite well.

Forbes magazine’s new ranking of the world’s richest people puts Texas transplant Elon Musk at No. 1, with a net worth of $219 billion. That’s up from $151 billion in 2021, $24.6 billion in 2020, $22.3 billion in 2019, and $19.9 billion in 2018. The CEO of Austin-based vehicle manufacturer Tesla and leader of a host of other businesses, Musk was ranked second on Forbes’ 2021 list. He sat behind Amazon founder Jeff Bezos, whose net worth in 2021 was pegged at $177 million. This year, Forbes estimates Bezos’ net worth is $171 billion.

Here in Houston, 11 locals land on the prestigious list. They are:

  • Oil mogul Jeffery Hildebrand: tied for No. 316, $7.5 billion, up from $2 billion
  • Pipeline magnate Richard Kinder: tied for No. 316, $7.5 billion, up from $7 billion
  • Houston siblings and pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams: each tied for No. 375, $6.6 billion, up from $6 billion
  • Hospitality titan and Houston Rockets owner Tilman Fertitta: tied for No. 471, $5.6 billion, up from $4.6 billion
  • Houston software entrepreneur Robert Brockman: tied for No. 601, $4.7 billion, down from $6 billion
  • Toyota mega-dealer Dan Friedkin: tied for No. 665, $4.3 billion, up from $4.1 billion
  • Houston Texans owner Janice McNair: tied for No. 687, $4.2 billion, up from $4.1 billion
  • Hedge fund honcho John Arnold: tied for No. 913, $3.3 billion, unchanged from last year

Meanwhile, Nearly 30 other Texans appear in this year’s top 1,000. Here, they are grouped by where they live and their global ranking, 2022 net worth, and 2021 net worth.

Austin

  • Elon Musk, founder and CEO of Tesla: No. 1, $219 billion, up from $151 billion
  • Michael Dell, founder, chairman, and CEO of Round Rock-based Dell Technologies: No. 24, $55.1 billion, up from $45.1 billion
  • Venture capitalist Robert Smith: tied for No. 369, $6.7 billion, up from $6 billion
  • Tito’s Vodka baron Bert “Tito” Beveridge: tied for No. 637, $4.5 billion, down from $4.6 billion
  • Tech entrepreneur Thai Lee: tied for No. 709, $4.1 billion, up from $3.2 billion

Dallas

  • Dallas Cowboys owner Jerry Jones: tied for No. 185, $10.6 billion, up from $8.9 billion
  • Banking and real estate kingpin Andy Beal: tied for No. 201, $9.9 billion, up from $7.9 billion
  • Oil and real estate titan Ray Lee Hunt: tied for No. 386, $6.5 billion, up from $4.2 billion
  • Money manager Ken Fisher: tied for No. 509, $5.3 billion, down from $5.5 billion
  • Media magnate and Dallas Mavericks owner Mark Cuban: tied for No. 601, $4.7 billion, up from $4.4 billion
  • Oil and gas guru Trevor Rees-Jones: tied for No. 637, $4.5 billion, up from $4 billion
  • Hotel and investment titan Robert Rowling: tied for No. 637, $4.5 billion, up from $3.9 billion
  • Oil baron W. Herbert Hunt: tied for No. 665, $4.3 billion, up from $2 billion
  • Margot Birmingham Perot: widow of tech and real estate entrepreneur H. Ross Perot Sr., tied for No. 665, $4.3 billion, up from $4.1 billion
  • Oil and gas tycoon Kelcy Warren: tied for No. 728, $4 billion, up from $3.4 billion
  • Real estate bigwig H. Ross Perot, Jr.: tied for No. 951, $3.2 billion, up from $1.6 billion

Fort Worth

  • Walmart heiress Alice Walton: No. 18, $65.3 billion, up from $61.8 billion
  • Oil and investment guru Robert Bass: tied for No. 536, $5.1 billion, unchanged from last year
  • Private equity magnate David Bonderma: tied for No. 637, $4.5 billion, up from $4.1 billion
  • Investor and oilman Sid Bass: tied for No. 883, $3.4 billion, up from $2.9 billion

Elsewhere in Texas

  • Sports and entertainment mogul Stan Kroenke (Vernon): tied for No. 183, $10.7 billion, up from $8.2 billion
  • Walmart heiress Ann Walton Kroenke (Vernon): tied for No. 227, $9 billion, up from $8.4 billion
  • Oil tycoon Autry Stephens (Midland): tied for No. 552, $5 billion, not previously ranked

“The tumultuous stock market contributed to sharp declines in the fortunes of many of the world’s richest,” Kerry A. Dolan, assistant managing editor of Wealth at Forbes, says of this year’s ranking. “Still, more than 1,000 billionaires got wealthier over the past year. The top 20 richest alone are worth a combined $2 trillion, up from $1.8 trillion in 2021.”

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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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Houston bio-based materials startup breaks into footwear

cleaner shoes

A more sustainable shoe can’t be built on a single material swap. From the hard plastics hidden inside a heel to the material covering a sneaker’s upper, footwear is a collection of components—and each presents a different challenge for companies trying to move away from conventional, petroleum-based materials.

Houston-based Rheom Materials wants to change that equation. The biomaterials company has launched a sustainable footwear platform featuring two of its bio-based alternatives: Benree, a biodegradable plastic designed for hard internal components, and ShoraiDura, a durable leather alternative for footwear uppers.

“A shoe is not one material; it is multiple parts working together as a system. Substituting a single material has never moved the needle,” Rheom founder and CEO Zimri Hinshaw said in a news release. “Rheom wants to make it easier for brands to make a positive impact. By providing an assortment of bio-based materials, brands can change the system, not just a swatch of it.”

Benree is Rheom’s alternative to conventional hard plastics used in footwear construction. The company says it is a 100 percent USDA-certified bio-based, biodegradable material with performance comparable to acrylonitrile butadiene styrene (ABS), a widely used engineering plastic.

The material has passed SATRA testing for high-heel applications with Bared Footwear, an Australian footwear brand.

“At Bared, we're constantly on a journey to remove plastic from our shoes. At the same time, our brand won't compromise on quality for the end customer,” Millie Richards, Bared’s head of sustainability, added in the release. “From samples and testing, Rheom has proven to be solving both of those problems for us. We look forward to seeing how they develop as a company and would love to use them in our shoes.”

Rheom says it is also exploring Benree for additional internal components, including toe puffs and heel counters.

Rheom's Benree material was used for a high-heel prototype. Photo courtesy Rheom Materials

The company’s ShoraiDura material addresses another major part of shoe construction: the upper, which must withstand repeated flexing, friction and wear while maintaining its appearance.

Containing about 80 percent bio-based content, ShoraiDura is engineered as a durable leather alternative for footwear. Rheom says the material’s molecular structure is designed to deliver the strength and durability required for demanding applications.

To demonstrate how the material could be used in finished products, Rheom worked with a Los Angeles-based footwear manufacturer to create two prototypes: an athletic sneaker and a textured skater shoe, both featuring ShoraiDura uppers.

The two offerings reflect the company’s broader strategy. Rather than asking brands to evaluate a single material in isolation, Rheom is positioning its platform as a way to explore alternatives across different parts of footwear construction.

The next step is broader industry adoption. Benree’s testing with Bared Footwear and ShoraiDura’s footwear prototypes offer early examples of how the materials could be applied, while commercial use will depend on manufacturers’ evaluations and product-development decisions.

Rheom Materials is a Houston-based biomaterials company developing bio-based alternatives to petrochemical plastics. Its product portfolio includes Shorai, a leather alternative, and Benree, a hard plastic alternative.

The company debuted Shorai at the Houston Livestock Show and Rodeo in 2025 and showed a bio-based "leather" collection in Milan earlier this year. Read more here.

Houston's Rice University named the No. 1 best Texas college for 2027

We're No. 1

With early application season in full swing, a local university is racking up accolades on a new list of the 10 best Texas colleges for 2027.

Rice University topped the list as the No. 1 best university in Texas in WalletHub's annual "College & University Rankings" report, showing Houston students don't have to travel out of state to earn a top-notch degree.

WalletHub analyzed 738 colleges and universities in the U.S. using 30 relevant metrics, including factors like student-faculty ratios, graduation rates, and many more. Universities were ranked nationally, regionally, and across seven key dimensions: student selectivity; cost and financing; faculty resources; campus safety; campus experience; educational outcomes; and career outcomes.

Rice also ranked No. 2 in the regional comparison of best universities in the South, and appeared No. 11 nationwide.

Across the seven main categories, the university performed best for its faculty resources (No. 4), education outcomes (No. 11), and student selectivity (No. 16), and earned top-100 rankings for its career outcomes (No. 28) and campus experience (No. 58).

Rice only lagged behind in the national rankings for campus safety (No. 632) and cost and financing (No. 666), but neither category swayed the university's top-performing overall position.

Meanwhile, the University of Houston ranked 75th regionally and 339th nationally. UH's cost and financing rank among the top 200 nationally, landing 177th, and it ranked 284th for its campus safety.This is how the report ranked UH in the five remaining categories out of all 738 schools:
  • No. 306 – Career outcomes
  • No. 324 – Student selectivity
  • No. 343 – Education outcomes
  • No. 383 – Campus experience
  • No. 715 – Faculty resources
Four more local schools ranked among the best universities in the South: Houston Christian University (No. 204), Prairie View A&M University (No. 245), University of Houston-Downtown (No. 251), and Texas Southern University (No. 254).The Houston-area universities, including their graduate and online programs, have earned heaps of national and worldwide praise this year from prestigious educational reviewing authorities U.S. News & World Report and The Princeton Review. Rice University also topped Niche's list of the best Texas universities for 2027.

These are WalletHub's top 10 best colleges and universities in Texas for 2027:

  • No. 1 – Rice University
  • No. 2 – Trinity University
  • No. 3 – The University of Texas at Austin
  • No. 4 – Texas A&M University-College Station
  • No. 5 – Southwestern University
  • No. 6 – University of Dallas
  • No. 7 – Austin College
  • No. 8 – Texas Christian University
  • No. 9 – LeTourneau University
  • No. 10 – The University of Texas at Dallas
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This article first appeared on CultureMap.com.

UH expands Medical Center footprint with $77M research facility

breaking ground

The University of Houston broke ground on a brand new $77.5 million Medical Research Building last week that will host clinical trials and a virtual reality behavioral health suite, among other laboratories. Designed by SmithGroup, it will be the second building on the UH Medical Center campus after the Fertitta College of Medicine opened in 2022.

“The Medical Research Building was designed to foster collaboration and discovery while creating a welcoming environment for students, researchers and the community,” Kalman Nagy, higher education studio design leader for SmithGroup, said in a news release. “As the second building on the University of Houston’s medical campus, we wanted to create a strong connection to the College of Medicine and the surrounding woodlands, with outdoor terraces, shared learning spaces and natural views that inspire interaction and innovation.”

Located just behind the Fertitta building at 5150 Medical Service Drive, the 57,000-square-foot building will house wet laboratories, computational research spaces and specialized facilities for clinical research. The virtual reality behavioral health suite will use immersive technology to deliver care through manufactured audio and visual environments. It’s part of the college’s vision for developing new medical advancements in the heart of Houston’s medical community. The groundbreaking comes on the heels of the launch of the university's cross-disciplinary academic venture, UH Health, this summer.

“This groundbreaking marks an important next step in the growth of the Fertitta College of Medicine and UH Health,” Dr. Jonathan McCullers, vice president for health affairs at UH, added in the release. “We are building the research capacity to match our ambitions—bringing together scientists, physicians and experts from across the University to accelerate discovery and turn promising ideas into solutions that improve people’s lives.”

UH’s journey to establish a significant presence alongside the University of Texas and Baylor in the Medical Center started in 2009 when it became an official full institutional member. The university launched its plans for the Fertitta building in 2013, and is pursuing Health Science Center designation from the Texas Legislature in the next year’s session.

“The research that will take place here will directly benefit our community,” UH President Renu Khator added. “Diseases do not recognize disciplinary silos, and neither should our research. This building will bring together experts from across UH to break down those barriers, work across disciplines and tackle some of our most complex health challenges.”

The building is slated to open in 2028.

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