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

Intuitive Machines forms partnership with Italian companies for lunar exploration services

to the moon

Houston-based space technology, infrastructure and services company Intuitive Machines has forged a partnership with two Italian companies to offer infrastructure, communication and navigation services for exploration of the moon.

Intuitive Machines’ agreement with the two companies, Leonardo and Telespazio, paves the way for collaboration on satellite services for NASA, a customer of Intuitive Machines, and the European Space Agency, a customer of Leonardo and Telespazio. Leonardo, an aerospace, defense and security company, is the majority owner of Telespazio, a provider of satellite technology and services.

“Resilient, secure, and scalable space infrastructure and space data networks are vital to customers who want to push farther on the lunar surface and beyond to Mars,” Steve Altemus, co-founder and CEO of Intuitive Machine, said in a news release.

Massimo Claudio Comparini, managing director of Leonardo’s space division, added that the partnership with Intuitive Machines is a big step toward enabling human and robotic missions from the U.S., Europe and other places “to access a robust communications network and high-precision navigation services while operating in the lunar environment.”

Intuitive Machines recently expanded its Houston Spaceport facilities to ramp up in-house production of satellites. The company’s first satellite will launch with its upcoming IM‑3 lunar mission.

Intuitive Machines says it ultimately wants to establish a “center of space excellence” at Houston Spaceport to support missions to the moon, Mars and the region between Earth and the moon.

Houston hospitals win $50M grant for ibogaine addiction treatment research

ibogaine funding

The Texas Health and Human Services Commission has awarded $50 million to UTHealth Houston in collaboration with The University of Texas Medical Branch at Galveston (UTMB Health) to co-lead a multicenter research trial to evaluate the effect of ibogaine, a powerful psychoactive compound, on patients suffering from addiction, traumatic brain injury and other behavioral health conditions.

The funding will establish a two-year initiative—known as Ibogaine Medicine for PTSD, Addiction, and Cognitive Trauma (IMPACT)—and a consortium of Texas health institutions focused on clinical trials and working toward potential FDA-approved treatments.

The consoritum will also include Texas Tech University, Texas Tech University Health Sciences Center El Paso, The University of Texas at Austin, The University of Texas Health Science Center at San Antonio, The University of Texas at Tyler, The University of Texas Rio Grande Valley, Texas A&M University, The University of North Texas Health Science Center, Baylor College of Medicine and JPS Health Network in Dallas.

Ibogaine is a plant-based, psychoactive substance derived from the iboga shrub. Research suggests that the substance could be used for potential treatment for patients with traumatic brain injuries, which is a leading cause of post-traumatic stress disorders. Ibogaine has also shown potential as a treatment for addiction and other neurological conditions.

UTHealth and partners will focus on ways that ibogaine can treat addiction and associated conditions. Meanwhile, UT Austin and Baylor College of Medicine will concentrate on using it to treat traumatic brain injury, especially in veterans, according to a news release from the institutions.

The consortium will also support drug developers and teaching hospitals to conduct FDA-approved clinical trials. The Texas Health and Human Services Commission will oversee the grant program.

“This landmark clinical trial reflects our unwavering commitment to advancing research that improves lives and delivers the highest standards of care,” Dr. Melina Kibbe, UTHealth Houston president and the Alkek-Williams Distinguished Chair, said in the news release. “By joining forces with outstanding partners across our state, we are building on Texas’ tradition of innovation to ensure patients struggling with addiction and behavioral health conditions have access to the best possible outcomes. Together, we are shaping discoveries that will serve Texans and set a model for the nation.”

The consortium was authorized by the passage of Senate Bill 2308. The bill provides $50 million in state-matching funds for an ibogaine clinical trial managed by a public university in partnership with a drug company and a hospital.

“This is the first major step towards the legislature’s goal of obtaining FDA approval through clinical trials of ibogaine — a potential breakthrough medication that has brought thousands of America’s war-fighters back from the darkest parts of depression, anxiety, PTSD, and chronic addiction,” Texas Rep. Cody Harris added in the release. “I am excited to walk alongside UTHealth Houston and UTMB as these stellar institutions lead the nation in a first-of-its-kind clinical trial in the U.S.”

Recently, the University of Houston also received a $2.6 million gift from the estate of Dr. William A. Gibson to support and expand its opioid addiction research, which includes the development of a fentanyl vaccine that could block the drug's ability to enter the brain. Read more here.

Tesla no longer world's biggest EV maker as sales fall for second year

Tesla Talk

Tesla lost its crown as the world’s bestselling electric vehicle maker as a customer revolt over Elon Musk’s right-wing politics, expiring U.S. tax breaks for buyers and stiff overseas competition pushed sales down for a second year in a row.

Tesla said that it delivered 1.64 million vehicles in 2025, down 9% from a year earlier.

Chinese rival BYD, which sold 2.26 million vehicles last year, is now the biggest EV maker.

It's a stunning reversal for a car company whose rise once seemed unstoppable as it overtook traditional automakers with far more resources and helped make Musk the world's richest man. The sales drop came despite President Donald Trump's marketing effort early last year when he called a press conference to praise Musk as a “patriot” in front of Teslas lined up on the White House driveway, then announced he would be buying one, bucking presidential precedent to not endorse private company products.

For the fourth quarter, Tesla sales totaled 418,227, falling short of even the much reduced 440,000 target that analysts recently polled by FactSet had expected. Sales were hit hard by the expiration of a $7,500 tax credit for electric vehicle purchases that was phased out by the Trump administration at the end of September.

Tesla stock fell 2.6% to $438.07 on Friday.

Even with multiple issues buffeting the company, investors are betting that Tesla CEO Musk can deliver on his ambitions to make Tesla a leader in robotaxi services and get consumers to embrace humanoid robots that can perform basic tasks in homes and offices. Reflecting that optimism, the stock finished 2025 with a gain of approximately 11%.

The latest quarter was the first with sales of stripped-down versions of the Model Y and Model 3 that Musk unveiled in early October as part of an effort to revive sales. The new Model Y costs just under $40,000 while customers can buy the cheaper Model 3 for under $37,000. Those versions are expected to help Tesla compete with Chinese models in Europe and Asia.

For fourth-quarter earnings coming out in late January, analysts are expecting the company to post a 3% drop in sales and a nearly 40% drop in earnings per share, according to FactSet. Analysts expect the downward trend in sales and profits to eventually reverse itself as 2026 rolls along.

Musk said earlier last year that a “major rebound” in sales was underway, but investors were unruffled when that didn't pan out, choosing instead to focus on Musk's pivot to different parts of business. He has has been saying the future of the company lies with its driverless robotaxis service, its energy storage business and building robots for the home and factory — and much less with car sales.

Tesla started rolling out its robotaxi service in Austin in June, first with safety monitors in the cars to take over in case of trouble, then testing without them. The company hopes to roll out the service in several cities this year.

To do that successfully, it needs to take on rival Waymo, which has been operating autonomous taxis for years and has far more customers. It also will also have to contend with regulatory challenges. The company is under several federal safety investigations and other probes. In California, Tesla is at risk of temporarily losing its license to sell cars in the state after a judge there ruled it had misled customers about their safety.

“Regulatory is going to be a big issue,” said Wedbush Securities analyst Dan Ives, a well-known bull on the stock. “We're dealing with people's lives.”

Still, Ives said he expects Tesla's autonomous offerings will soon overcome any setbacks.

Musk has said he hopes software updates to his cars will enable hundreds of thousands of Tesla vehicles to operate autonomously with zero human intervention by the end of this year. The company is also planning to begin production of its AI-powered Cybercab with no steering wheel or pedals in 2026.

To keep Musk focused on the company, Tesla’s directors awarded Musk a potentially enormous new pay package that shareholders backed at the annual meeting in November.

Musk scored another huge windfall two weeks ago when the Delaware Supreme Court reversed a decision that deprived him of a $55 billion pay package that Tesla doled out in 2018.

Musk could become the world's first trillionaire later this year when he sells shares of his rocket company SpaceX to the public for the first time in what analysts expect would be a blockbuster initial public offering.

View All Listings