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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Google to invest $40 billion in AI data centers in Texas

Google is investing a huge chunk of money in Texas: According to a release, the company will invest $40 billion on cloud and artificial intelligence (AI) infrastructure, with the development of new data centers in Armstrong and Haskell counties.

The company announced its intentions at a meeting on November 14 attended by federal, state, and local leaders including Gov. Greg Abbott who called it "a Texas-sized investment."

Google will open two new data center campuses in Haskell County and a data center campus in Armstrong County.

Additionally, the first building at the company’s Red Oak campus in Ellis County is now operational. Google is continuing to invest in its existing Midlothian campus and Dallas cloud region, which are part of the company’s global network of 42 cloud regions that deliver high-performance, low-latency services that businesses and organizations use to build and scale their own AI-powered solutions.

Energy demands

Google is committed to responsibly growing its infrastructure by bringing new energy resources onto the grid, paying for costs associated with its operations, and supporting community energy efficiency initiatives.

One of the new Haskell data centers will be co-located with — or built directly alongside — a new solar and battery energy storage plant, creating the first industrial park to be developed through Google’s partnership with Intersect and TPG Rise Climate announced last year.

Google has contracted to add more than 6,200 megawatts (MW) of net new energy generation and capacity to the Texas electricity grid through power purchase agreements (PPAs) with energy developers such as AES Corporation, Enel North America, Intersect, Clearway, ENGIE, SB Energy, Ørsted, and X-Elio.

Water demands

Google’s three new facilities in Armstrong and Haskell counties will use air-cooling technology, limiting water use to site operations like kitchens. The company is also contributing $2.6 million to help Texas Water Trade create and enhance up to 1,000 acres of wetlands along the Trinity-San Jacinto Estuary. Google is also sponsoring a regenerative agriculture program with Indigo Ag in the Dallas-Fort Worth area and an irrigation efficiency project with N-Drip in the Texas High Plains.

In addition to the data centers, Google is committing $7 million in grants to support AI-related initiatives in healthcare, energy, and education across the state. This includes helping CareMessage enhance rural healthcare access; enabling the University of Texas at Austin and Texas Tech University to address energy challenges that will arise with AI, and expanding AI training for Texas educators and students through support to Houston City College.

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This article originally appeared on CultureMap.com.

TMCi names 11 global startups to latest HealthTech Accelerator cohort

new class

Texas Medical Center Innovation has named 11 medtech startups from around the world to its latest HealthTech Accelerator cohort.

Members of the accelerator's 19th cohort will participate in the six-month program, which kicked off this month. They range from startups developing on-the-go pelvic floor monitoring to 3D-printed craniofacial and orthopedic implants. Each previously participated in TMCi's bootcamp before being selected to join the accelerator. Through the HealthTech Accelerator, founders will work closely with TMC specialists, researchers, top-tier hospital experts and seasoned advisors to help grow their companies and hone their clinical trials, intellectual property, fundraising and more.

“This cohort of startups is tackling some of today’s most pressing clinical challenges, from surgery and respiratory care to diagnostics and women’s health," Tom Luby, chief innovation officer at Texas Medical Center, said in a news release. "At TMC, we bring together the minds behind innovation—entrepreneurs, technology leaders, and strategic partners—to help emerging companies validate, scale, and deliver solutions that make a real difference for patients here and around the world. We look forward to seeing their progress and global impact through the HealthTech Accelerator and the support of our broader ecosystem.”

The 2025 HealthTech Accelerator cohort includes:

  • Houston-based Respiree, which has created an all-in-one cardiopulmonary platform with wearable sensors for respiratory monitoring that uses AI to track breathing patterns and detect early signs of distress
  • College Station-based SageSpectra, which designs an innovative patch system for real-time, remote monitoring of temperature and StO2 for assessing vascular occlusion, infection, and other surgical flap complications
  • Austin-based Dynamic Light, which has developed a non-invasive imaging technology that enables surgeons to visualize blood flow in real-time without the need for traditional dyes
  • Bangkok, Thailand-based OsseoLabs, which develops AI-assisted, 3D-printed patient-specific implants for craniofacial and orthopedic surgeries
  • Sydney, Australia-based Roam Technologies, which has developed a portable oxygen therapy system (JUNO) that provides real-time oxygen delivery optimization for patients with chronic conditions
  • OptiLung, which develops 3D-printed extracorporeal blood oxygenation devices designed to optimize blood flow and reduce complications
  • Bengaluru, India-based Dozee, which has created a smart remote patient monitor platform that uses under-the-mattress bed sensors to capture vital signs through continuous monitoring
  • Montclair, New Jersey-based Endomedix, which has developed a biosurgical fast-acting absorbable hemostat designed to eliminate the risk of paralysis and reoperation due to device swelling
  • Williston, Vermont-based Xander Medical, which has designed a biomechanical innovation that addresses the complications and cost burdens associated with the current methods of removing stripped and broken surgical screws
  • Salt Lake City, Utah-based Freyya, which has developed an on-the-go pelvic floor monitoring and feedback device for people with pelvic floor dysfunction
  • The Netherlands-based Scinvivo, which has developed optical imaging catheters for bladder cancer diagnostics

2025 Houston Innovation Awards winners revealed at annual event

The winners are...

After weeks of anticipation, the 2025 Houston Innovation Awards winners have been revealed. Finalists, judges, and VIPs from Houston's vibrant innovation community gathered on Nov. 13 at Greentown Labs for the fifth annual event.

This year, the Houston Innovation Awards recognized more than 40 finalists, with winners unveiled in 10 categories.

Finalists and winners were determined by our esteemed panel of judges, comprised of 2024 winners who represent various Houston industries, as well as InnovationMap editorial leadership. One winner was determined by the public via an online competition: Startup of the Year.

The program was emceed by Lawson Gow, Head of Houston for Greentown Labs. Sponsors included Houston City College Northwest, Houston Powder Coaters, FLIGHT by Yuengling, and more.

Without further adieu, meet the 2025 Houston Innovation Awards winners:

Minority-founded Business: Mars Materials

Clean chemical manufacturing business Mars Materials is working to convert captured carbon into resources, such as carbon fiber and wastewater treatment chemicals. The company develops and produces its drop-in chemical products in Houston and uses an in-licensed process for the National Renewable Energy Lab to produce acrylonitrile, which is used to produce plastics, synthetic fibers and rubbers. The company reports that it plans to open its first commercial plant in the next 18 months.


Female-founded Business, presented by Houston Powder Coaters: March Biosciences

Houston cell therapy company March Biosciences aims to treat unaddressed challenging cancers, with its MB-105, a CD5-targeted CAR-T cell therapy for patients with relapsed or refractory CD5-positive T-cell lymphoma, currently in Phase 2 clinical trials. The company was founded in 2021 by CEO Sarah Hein, Max Mamonkin and Malcolm Brenner and was born out of the TMC Accelerator for Cancer Therapeutics.

Energy Transition Business: Eclipse Energy

Previously known as Gold H2, Eclipse Energy converts end-of-life oil fields into low-cost, sustainable hydrogen sources. It completed its first field trial this summer, which demonstrated subsurface bio-stimulated hydrogen production. According to the company, its technology could yield up to 250 billion kilograms of low-carbon hydrogen.

Health Tech Business: Koda Health

Koda Health has developed an advance care planning platform (ACP) that allows users to document and share their care preferences, goals and advance directives for health systems. The web-based platform guides patients through values-based decisions with interactive tools and generates state-specific, legally compliant documents that integrate seamlessly with electronic health record systems. Last year, the company also added kidney action planning to its suite of services for patients with serious illnesses. In 2025, it announced major partnerships and integrations with Epic, Guidehealth, and others, and raised a $7 million series A.

Deep Tech Business: Persona AI

Persona AI is building modularized humanoid robots that aim to deliver continuous, round-the-clock productivity and skilled labor for "dull, dirty, dangerous, and declining" jobs. The company was founded by Houston entrepreneur Nicolaus Radford, who serves as CEO, along with CTO Jerry Pratt and COO Jide Akinyode. It raised eight figures in pre-seed funding this year and is developing its prototype of a robot-welder for Hyundai's shipbuilding division, which it plans to unveil in 2026.

Scaleup of the Year: Fervo Energy

Houston-based Fervo Energy is working to provide 24/7 carbon-free energy through the development of cost-competitive geothermal power. The company is developing its flagship Cape Station geothermal power project in Utah, which is expected to generate 400 megawatts of clean energy for the grid. The company raised $205.6 million in capital to help finance the project earlier this year and fully contracted the project's capacity with the addition of a major power purchase agreement from Shell.

Incubator/Accelerator of the Year: Greentown Labs

Climatetech incubator Greentown Labs offers its community resources and a network to climate and energy innovation startups looking to grow. The collaborative community offers members state-of-the-art prototyping labs, business resources and access to investors and corporate partners. The co-located incubator was first launched in Boston in 2011 before opening in Houston in 2021.

Startup of the Year (People's Choice): FlowCare

FlowCare is developing a period health platform that integrates smart dispensers, education, and healthcare into one system to make free, high-quality, organic period products more accessible. FlowCare is live at prominent Houston venues, including Discovery Green, Texas Medical Center, The Ion, and, most recently, Space Center Houston, helping make Houston a “period positivity” city.

Mentor of the Year, presented by Houston City College Northwest: Jason Ethier, EnergyTech Nexus

Jason Ethier is the founding partner of EnergyTech Nexus, through which he has mentored numerous startups and Innovation Awards finalists, including Geokiln, Energy AI Solutions, Capwell Services and Corrolytics. He founded Dynamo Micropower in 2011 and served as its president and CEO. He later co-founded Greentown Labs in Massachusetts and helped bring the accelerator to Houston.

2025 Trailblazer Award: Wade Pinder

Wade Pinder, founder of Product Houston, identifies as an "Ecosystem Wayseeker" and is the founder of Product Houston. A former product manager at Blinds.com, he has been deeply engaged in Houston’s startup and innovation scene since 2012. Over the years, he has supported hundreds of founders, product leaders, and community builders across the Houston area. In 2023, he was honored as Mentor of the Year in the Houston Innovation Awards.

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