Local billionaires top list of richest in Houston, per Forbes

OUR THREE-COMMA CROWD

Houston oil tycoon Jeffery Hildebrand is the eighth-richest Texan, and the 51st most affluent person in the United States, Forbes says. Photo by Anthony Rathbun

Austin's Elon Musk and Michael Dell are the richest people in Texas, but Houston billionaires are not far behind, according to the newForbes 400, a list of the 400 richest people in the United States for 2023.

Houston oil tycoon Jeffery Hildebrand is the eighth-richest Texan, and the 51st most affluent person in the United States, Forbes says.

According to Forbes, Hildebrand's net worth in 2023 is estimated at $13.7 billion, which has steadily climbed from his 2022 net worth of $11 billion. Hildebrand, 64, co-founded Hilcorp Energy Company in 1990, and serves as the chairman and CEO after buying out his partner's stake for $500 million. The company has been hard at work expanding its foothold in the oil industry over the last three decades.

"In 2020 Hilcorp finalized the $5.6 billion acquisition of BP's assets in Alaska," Forbes wrote in Hildebrand's profile. "He has built Hilcorp into America's biggest privately owned oil company (by production volumes)."

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

Forbes' list, published October 3, is a definitive ranking of the wealthiest Americans, using interviews, financial data, and documentation provided by billionaires and their companies.

According to the report, America's elite class is now worth $4.5 trillion total, which ties a record previously set in 2021.

Unsurprisingly, Musk ranks No. 1 nationally, with a net worth of $251 billion.

Here's how the rest of Houston's billionaires fared on this year's list:

Houston hospitality king and Rockets owner Tilman Fertitta ranks 114th nationally with an estimated net worth of $8 billion.
Oil and gas chairman Richard Kinder ranks No. 123 nationally with an estimated worth of $7.5 billion.
Houston pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams tie for 128th nationally. Each has an estimated net worth of $7.4 billion.
Toyota mega-dealer Dan Friedkin ties for 184th nationally with an estimated net worth of $5.7 billion.
Houston Texans owner Janice McNair ties for No. 192 nationally with an estimated net worth of $5.6 billion.
Local hedge fund honcho John Arnold ranks 345th nationally with an estimated net worth of $3.3 billion.
Energy exploration chief exec George Bishop of The Woodlands ranks No. 356 with an estimated net worth of $3.2 billion.

------

This article originally ran on CultureMap.

From Your Site Articles

Tilman Fertitta tops new Forbes list of Houston's richest billionaires - InnovationMap ›

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

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

meet the billionaires

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.

------

This article originally ran on CultureMap.

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.”

------

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.

------

This article originally ran on CultureMap.

Ad Placement 300x100

Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Building a biotech workforce: How this Houston program is shaping the next generation

future focused

Houston is currently in need of biomanufacturing professionals to keep up with the ever-growing industry. That's what Saniya Mansuri, health care consultant for BioPath @ TMC, says.

“Houston has lost out on a big biopharmaceutical company. And when there was a feasibility study that was done, it was identified that one of the reasons that Houston wasn't chosen was the lack of a workforce and a lack of workforce development programs,” she explains.

Mansuri and the TMC Innovation team are doing just that with the introduction of the new program. She moved from Toronto in 2023. When she applied for a role at TMC Innovation, she was handpicked to help shepherd the BioPath program, thanks to her background that included starting a nonprofit for underserved youth in Canada.

The goal of the BioPath program is to attract young people considering going into the trades to learn the skills to become biomanufacturing professionals. According to BioPath’s website, 42 percent of TMC institutions anticipate a great need for biotechnicians in the near future, but there’s a lack of places for workers to train that aren’t part of a four-year degree. BioPath not only helps to recruit youths to careers that only require two years of training, but educates them for success in their newly chosen jobs.

“For the role of biomanufacturing technician, you can do a certificate program, get certified and enter into an entry level career that pays upwards of $50,000 — a stable career where there is a lot of development and job mobility involved,” says Mansuri.

This school year saw the debut of a pilot program that began with marketing and awareness to begin to get kids excited. Working with the organization Bridge Year, BioPath has created a booth for career fairs at which there’s a simulation of the skills involved in column chromatography that potential technicians would be learning. The booth is currently touring HISD high schools.

BioPath is also partnering with the national nonprofit, Learning Undefeated, to create a mobile STEM lab that will park at schools starting in January.

“Instead of students going to a biology class, you would swap it out for a class on this mobile STEM lab, and we have a biomanufacturing activity and curriculum that the students would learn,” explains Mansuri.

But that’s only the beginning. BioPath is looking at securing internships for the students, as well as sponsoring interested students in attending a biomanufacturing summer camp run by Texas A&M. Once educated, Mansuri and her team will help their charges with certification, mentorship and finding jobs post-certification.

Mansuri says she’s already received emails from interested students who have taken part in the “Career Test Drive” booth, but expects more after a soft launch in February in which 200 high school students will come to the TMC to learn more. The future for biomanufacturing in Houston is looking more promising already.

Coming soon: Houston Astros unveil new ballpark naming partner for 2025

welcome to the ice box

The Houston Astros are about to have the coolest ballpark in Major League Baseball. The team announced on Monday, November 18 that its has reached a naming rights agreement HVAC manufacturer Daikin Comfort Technologies North America, Inc.

Beginning on January 1, 2025, the stadium will be known as Daikin Park (die-kin). Scheduled to run through the 2039 season, the new name replaces Minute Maid Park, which has been the stadium’s name since 2002. It opened in 1999 as Enron Field.

Astros fans online are already calling the new stadium “The Ice Box,” replacing its informal “The Juice Box” moniker. That name feels likely to stick.

Japan-based Daikin Industries is a leading manufacturer of HVAC systems. It sells air conditioning units and other products under brand names such as Daikin, Goodman, Amana® and Quietflex. Critically, it operates Daikin Texas Technology Park in nearby Waller, which is the largest HVAC manufacturing facility in North America. The company employs approximately 10,000 people in Greater Houston, according to a release.

“We are excited to be partnering with Daikin for our ballpark’s naming rights,” Astros owner Jim said. “Daikin is an international company that proudly calls the Greater Houston area its North American home. The Houston Astros and Daikin share the same values, a commitment to excellence and a desire to give back to our local community. As we celebrate the 25th anniversary of this ballpark in 2025, I am proud to have Daikin alongside us to create even more special memories for our fans now and in the future.”

The Astros will use the revenue for new stadium amenities and other upgrades. It will also continue the team’s various community initiatives. Terms of the deal were not disclosed. the Houston Chronicle notes that naming rights deals may be worth anywhere from $3.5 million per year (T-Mobile park in Seattle) to $11 million per year for the Texas Rangers’ Globe Life Field.

The team’s first game in Daikin Park will take place on Monday, March 24, which it plays an exhibition against its Triple-A affiliate, the Sugar Land Space Cowboys. It will open the regular season on Thursday, March 27 against the New York Mets.

“Daikin fit all of the criteria we set out to find in a naming rights partner,” Astros senior vice president Matt Brand added. “Their name and reputation fit our iconic downtown Houston home, and their values mesh perfectly with those of the Astros. We are grateful to partner with the entire Daikin team and to help them succeed in their business goals. Daikin Park will be a special place for our fans for many years to come.”

------

This article originally ran on CultureMap.

Photos: Houston Innovation Awards celebrates city's startup, tech leaders at annual event

event recap

The 2024 Houston Innovation Awards season has come to a close with last week's event.

With a crowd of around 500 attendees, the Houston Innovation Awards, which took place on November 14, celebrated over 40 finalists and a dozen winners across categories. Click here to see who won an award.

Learn more about this year's honorees in InnovationMap's the editorial series:

Special thanks to this year's sponsors: The Houston Innovation Awards is sponsored by Texas Medical Center, Milam & Greene Whiskey, Weber Ranch Vodka, EIGHT Beer, Karbach Brewing Company, Topo Chico, Houston Community College, Microsoft, Halliburton Labs, Mercury, Pillsbury Winthrop Shaw Pittman LLP, Rice Innovation & Ion District, Growth Pods, and Hunton Andrews Kurth.