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

where's the money

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

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.

------

This article originally ran on CultureMap.

Rich Kinder, and his wife, Nancy, join an impressive list of Texans on the 2020 edition of the Forbes 400. Photo by Michelle Watson/Catchlight Group

10 Houston billionaires bank spots on Forbes' 2020 list of richest Americans

show me the money

In a booming, opportunity city full of tycoons, which billionaire reigns supreme? That honor goes to Richard Kinder, the pipeline mogul worth $6.2 billion — who is also a familiar name in philanthropic circles as a chief benefactor of Memorial Park. Locals may also recognize his name on the new Museum of Fine Arts, Houston building.

Kinder, and his wife, Nancy, join an impressive list of Texans on the 2020 edition of the Forbes 400, which ranks the 400 richest Americans and was released September 8. (See their methodology here.) "Pandemic be damned: America's 400 richest are worth a record $3.2 trillion, up $240 billion from a year ago, aided by a stock market that has defied the virus," Forbes writes.

Around Houston, the richest-of-the-rich list looks similar to recent years. Here's how local billionaires rank nationally in 2020 and how their wealth has fared:

Houston:

  • Richard Kinder — $6.2 billion, No. 103. Last year: $7.5 billion.
  • Pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams — $4.8 billion each, No. 139. Last year: $6.3 billion.
  • Houston Rockets owner and restaurant kingpin Tilman Fertitta — $4.1 billion, No. 181. Last year: $4.9 billion.
  • Toyota titan Dan Friedkin of Houston — $4.1 billion, No. 181. Last year: $4 billion.
  • Houston Texans co-founder Janice McNair — $3.9 billion, No. 197. Last year: $4 billion.
  • Houston energy executive Jeffery Hildebrand — $3.6 billion, No. 222. Last year: $3.8 billion.
  • Former hedge fund manager John Arnold — $3.3 billion, No. 249. Last year: $3.3 billion.

Meanwhile, Walmart heiress Alice Walton of Fort Worth has retained her status as the richest Texan and America's richest woman in 2020, with a net worth estimated this year at $62.3 billion. That compares with $51.4 billion in 2019.

Walton moved up from No. 11 last year to No. 10 this year in the Forbes ranking of the richest Americans.

From 2019 to 2020, Walton's net worth jumped by $10.9 billion. To give you an idea of how much money that is, the size of the economy in Africa's Republic of Congo totaled $10.8 billion in 2019. Walton's entire net worth is slightly more than the size of the Costa Rican economy (nearly $61.8 billion in 2019).

Here's the regional breakdown for Texas' remaining Forbes 400 billionaires.

Dallas-Fort Worth:

  • Dallas Cowboys owner Jerry Jones — $8.6 billion, No. 56. Last year: $8.6 billion.
  • Dallas banker and real estate investor Andy Beal — $7.6 billion, No. 67. Last year: $9.8 billion.
  • Fort Worth oil and gas heir Robert Bass — $4.8 billion, No. 139. Last year: $4.9 billion.
  • Dallas oil and gas heir Ray Lee Hunt — $4.6 billion, No. 154. Last year: $5.2 billion.
  • Dallas Mavericks owner Mark Cuban — $4.2 billion, No. 177. Last year: $4.1 billion.
  • Margot Birmingham Perot, widow of Dallas tech entrepreneur Ross Perot — $4 billion, No. 186. Last year: $4.2 billion.
  • Fort Worth private equity titan David Bonderman — $4 billion, No. 186. Last year: $3.7 billion.
  • Omni Hotels and Gold's Gym king Robert Rowling of Dallas — $3.9 billion, No. 197. Last year: $5.5 billion.
  • Oil and gas chief Trevor Rees-Jones of Dallas — $3.5 billion, No. 228. Last year: $3.7 billion.
  • Dallas pipeline executive Kelcy Warren — $2.8 billion, No. 299. Last year: $4.3 billion.
  • Dallas real estate honcho H. Ross Perot Jr. — $2.5 billion, No. 339. Last year: $2.2 billion.
  • Fort Worth oil heir Sid Bass — $2.3 billion, No. 359. Last year: $3.1 billion.
  • Dallas banker Gerald Ford — $2.1 billion, No. 391. Last year: $2.3 billion.

Austin:

  • Michael Dell, tech magnate — $35.6 billion, No. 18. Last year: $32.3 billion.
  • Robert Smith, private equity entrepreneur— $6.2 billion, No. 125. Last year: $5 billion.
  • Bert "Tito" Beveridge, vodka tycoon — $4.6 billion, No. 154. Last year: $4.2 billion.
  • Thai Lee, tech entrepreneur — $3.1 billion, No. 268. Last year: $3 billion.
  • Joe Liemandt, software entrepreneur — $3 billion, No. 278. Last year: $3 billion.
  • John Paul DeJoria, hair care and tequila mogul — $2.7 billion, No. 319. Last year: $3.1 billion.
  • Jim Breyer, venture capitalist — $2.4 billion, No. 353. Last year: $2.5 billion. (Breyer recently relocated from Silicon Valley to Austin).
  • Brian Sheth, private equity entrepreneur — $2.3 billion, No. 359. Last year: $2.2 billion.

Of note, in just one year, Dell's net worth soared by $3.3 billion — more than the entire net worth of fellow Austin billionaire Thai Lee. The chairman and CEO of the Round Rock-based tech company that bears his name is Austin's richest resident.

Elsewhere in Texas:

  • Walmart heiress Ann Walton Kroenke — $8.4 billion, No. 58. Last year: $7.5 billion.
  • Real estate, sports, and entertainment big shot Stan Kroenke — $8.3 billion, No. 59. Last year: $9.7 billion. (The Kroenkes live on a massive ranch near the North Texas town of Vernon.)
  • Investor and former grocery distributor Drayton McLane Jr. of Temple — $2.8 billion, No. 299. Last year: $2.6 billion. McLane is former owner of the Houston Astros.
  • Hearing-aid mogul Bill Austin of Brownsville — $2.2 billion, No. 378. Last year: $2.4 billion.
------

This article originally ran on CultureMap.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Houston investment firm names tech exec as new partner

new hire

Houston tech executive Robert Kester has joined Houston-based Veriten, an energy-focused research, investment and strategy firm, as technology and innovation partner.

Kester most recently served as chief technology officer for emissions solutions at Honeywell Process Solutions, where he worked for five years. Honeywell International acquired Houston-based oil and gas technology company Rebellion Photonics, where Kester was co-founder and CEO, in 2019.

Honeywell Process Solutions shares offices in Houston with the global headquarters of Honeywell Performance Materials and Technologies. Honeywell, a Fortune 100 conglomerate, employs more than 850 people in Houston.

“We are thrilled to welcome Robert to the Veriten team,” founder and CEO Maynard Holt said in a statement, “and are confident that his technical expertise and skills will make a big contribution to Veriten’s partner and investor community. He will [oversee] every aspect of what we do, with the use case for AI in energy high on the 2025 priority list.”

Kester earned a doctoral degree in bioengineering from Rice University, a master’s degree in optical sciences from the University of Arizona and a bachelor’s degree in laser optical engineering technology from the Oregon Institute of Technology. He holds 25 patents and has more than 25 patents pending.

Veriten celebrated its third anniversary on January 10, the day that the hiring of Kester was announced. The startup launched with seven employees.

“With the addition of Dr. Kester, we are a 26-person team and are as enthusiastic as ever about improving the energy dialogue and researching the future paths for energy,” Holt added.

Kester spoke on the Houston Innovators Podcast in 2021. Listen here

.

Startup funding, sportstech win and more trending innovation news for January

Top Stories

Editor's note: The new year has started off with big news in the Houston innovation sector. The five most-read InnovationMap stories for the first half of January 2025 include a roundup of fresh funding for 14 startups, a Houston sportstech company's recent win, and a NASA initiative. Get the details below.

14 Houston startups start 2025 with fresh funding

Fourteen Houston startups ended 2024 with a round of investment. Photo via Getty Images

Houston startups wrapped up the last few months of 2024 with big funding news — from several seeds and series As to series C rounds and extensions. Here are 14 Houston startups that secured funding in the the last four months of last year, according to reporting by InnovationMap. Continue reading.

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

Don't miss these January events — from meetups to scale ups. Photo via Getty Images

From networking meetups to tech talks, January is filled with opportunities for Houston innovators. Here's a roundup of events you won't want to miss out on, so mark your calendars and register accordingly. Continue reading.

Houston tech company tapped by NASA for near space initiative

Intuitive Machines is among four companies awarded contracts for NASA’s Near Space Network. Photo via intuitivemachines.com

Houston-based space exploration, infrastructure, and services company Intuitive Machines has nailed down a NASA deal to expand the agency’s communications network for spacecraft. Continue reading.

Houston sportstech startup shoots, scores in Pharrell Williams competition

GRIND won second place in Pharrell Williams' Black Ambition Prize. Photo via grindbasketball.com

Anyone who's witnessed even just a minute of basketball knows how important accuracy is in sinking shots on the court. One Houston startup is getting wide attention for the device it developed to help practice make perfect in a game. Continue reading.

What to know about the new emission inspection to register your car in Texas

An inspection is no longer required to renew registration, but an emission evaluation is. Photo by Tim Leviston/Getty Images

Texas vehicle owners no longer need to obtain a safety inspection prior to vehicle registration. House Bill 3297, which went into effect January 1 and passed during the 88th Legislature in 2023, eliminates the safety inspection program for non-commercial vehicles. But there are new requirements. Continue reading.

SpaceX loses mega rocket in latest thrilling Starship test flight

Testing

SpaceX launched its Starship rocket on its latest test flight Thursday, but the spacecraft was destroyed following a thrilling booster catch back at the pad.

Elon Musk’s company said Starship broke apart — what it called a “rapid unscheduled disassembly." The spacecraft's six engines appeared to shut down one by one during ascent, with contact lost just 8 1/2 minutes into the flight.

The spacecraft — a new and upgraded model making its debut — was supposed to soar across the Gulf of Mexico from Texas on a near loop around the world similar to previous test flights. SpaceX had packed it with 10 dummy satellites for practice at releasing them.

A minute before the loss, SpaceX used the launch tower's giant mechanical arms to catch the returning booster, a feat achieved only once before. The descending booster hovered over the launch pad before being gripped by the pair of arms dubbed chopsticks.

The thrill of the catch quickly turned into disappointment for not only the company, but the crowds gathered along the southern tip of Texas.

“It was great to see a booster come down, but we are obviously bummed out about [the] ship,” said SpaceX spokesman Dan Huot. “It’s a flight test. It’s an experimental vehicle," he stressed.

The last data received from the spacecraft indicated an altitude of 90 miles and a velocity of 13,245 mph.

Musk said a preliminary analysis suggests leaking fuel may have built up pressure in a cavity above the engine firewall. Fire suppression will be added to the area, with increased venting and double-checking for leaks, he said via X.

The 400-foot rocket had thundered away in late afternoon from Boca Chica Beach near the Mexican border. The late hour ensured a daylight entry halfway around the world in the Indian Ocean. But the shiny retro-looking spacecraft never got nearly that far.

SpaceX had made improvements to the spacecraft for the latest demo and added a fleet of satellite mockups. The test satellites were the same size as SpaceX’s Starlink internet satellites and, like the spacecraft, were meant to be destroyed upon entry.

Musk plans to launch actual Starlinks on Starships before moving on to other satellites and, eventually, crews.

It was the seventh test flight for the world’s biggest and most powerful rocket. NASA has reserved a pair of Starships to land astronauts on the moon later this decade. Musk’s goal is Mars.

Hours earlier in Florida, another billionaire’s rocket company — Jeff Bezos’ Blue Origin — launched the newest supersized rocket, New Glenn. The rocket reached orbit on its first flight, successfully placing an experimental satellite thousands of miles above Earth. But the first-stage booster was destroyed, missing its targeted landing on a floating platform in the Atlantic.

View All Listings