10 Houston billionaires make Forbes' list of richest Americans in 2025

The Rich List

Pictured: Nancy and Richard Kinder, the richest Houstonian, according to the Forbes 400. Photo by Michelle Watson/Catchlight Group

America's wealthiest billionaires are $1.2 trillion richer in 2025, bringing their collective worth to a staggering $6.6 trillion. And Houston's own Richard Kinder has become the richest billionaire in the city, according to the new Forbes 400.

The Kinder Morgan chairman is the 11th richest Texas resident and ranks as the 108th richest American. Kinder also dethroned Tilman Fertitta to claim the title as the wealthiest Houstonian.

The annual Forbes 400 list is a definitive ranking of the wealthiest Americans, using interviews, financial data, and documentation provided by billionaires and their companies.

Kinder's wealth

The publication estimates Kinder's net worth at $10.6 billion, up from $8.1 billion last year. He also appears among Forbes' separate list of the richest billionaires in the world.

"It’s been a year unlike any we’ve seen in the four decades we’ve tracked America’s billionaire class,” said Forbes senior editor Chase Peterson-Withorn in a press release. "The super-rich at the very top are richer than ever — and between the White House and the booming stock market, they’re as powerful as they’ve ever been."

Kinder, 80, co-founded oil and gas pipeline firm Kinder Morgan in 1997, which is now known as one of the largest American energy infrastructure companies. He stepped down as CEO in 2015, though he still chairs the board of directors.

Kinder and his wife, Nancy, also founded Houston-based nonprofit the Kinder Foundation in 1997. The organization provides "major gifts to public causes with the intention of helping people realize healthy and rewarding lives," according to its website.

In May 2025, the Kinders pledged $150 million to Texas Children's Hospital and MD Anderson to create the Kinder Children's Cancer Center.

"Our philanthropic efforts center on supporting transformational projects in Houston, and this initiative exemplifies that mission in every way," said Kinder in a press release. "We were deeply impressed by the extraordinary leadership and unwavering commitment of both UT MD Anderson and Texas Children’s to pursue a bold, collaborative model of care. It is a rare and powerful moment when two leading organizations come together to create something entirely new – something capable of reshaping the future of pediatric cancer care."

The richest Houstonians

In all, 43 Texas billionaires made it on the 2025 Forbes 400 list, and 10 are based in the Houston metro.

Hospitality honcho Fertitta, 68, is the second-richest billionaire in Houston, and his net worth has jumped from $10.1 billion last year to $11 billion in 2025. He owns the Golden Nugget Casinos, the Houston Rockets, Texas-based restaurant and entertainment company Landry's, and also serves as the U.S. Ambassador to Italy.

"Serving as President Trump's ambassador to Italy 'is a real job,' says Fertitta, who personally oversaw the renovation of Villa Taverna, the ambassador's residence in Rome," Forbes wrote in his profile.

Fertitta most recently put his ritzy 250-foot-long superyacht on the market for about $192 million, with Forbes saying he "has a bigger one on order."

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

  • Oil tycoon Jeffery Hildebrand ties for No. 123 nationally with an estimated net worth of $10 billion. Last year: $7.6 billion.
  • Toyota mega-dealer Dan Friedkin ranks 128th nationally with an estimated net worth of $9.7 billion. Last year: $7.6 billion.
  • Houston pipeline heir Randa Duncan Williams ranks 130th with an estimated net worth of $9.5 billion. Fellow pipeline heirs Dannine Avara and Milane Frantz tie for 135th nationally. Each has an estimated net worth of $9.4 billion. Scott Duncan ranks No. 141 with a $9.2 billion estimated net worth.
  • Houston Texans owner Janice McNair ranks 201st nationally with an estimated net worth of $7.3 billion. Last year: $6.2 billion.
  • Energy exploration chief exec George Bishop of The Woodlands ranks No. 325 with an estimated net worth of $4.7 billion. Last year: $5 billion.

Richest billionaires elsewhere in Texas

The richest person in America in 2025 is none other than Austin-based Elon Musk. Musk, 54, saw his net worth skyrocket to $428 billion this year, or $184 billion more than his 2024 net worth. He claimed the No. 1 spot for the fourth time.

Walmart heiress Alice Walton of Fort Worth was dubbed the wealthiest woman in America for 2025. Walton, 75, simultaneously holds the title as the richest woman in the world. Forbes estimates Walton's net worth at $106 billion (up from $89.2 billion last year) and proclaims her as the first female centibillionaire (a person with a 12-digit fortune) in America. Now that's wealth.

"Tariffs. Inflation. Slowing employment. None of it has hit the fortunes of America’s billionaires," Forbes said. "A decade ago, when it took $1.7 billion to make The Forbes 400, a net worth of $3.8 billion was comfortably within the top half of the ranking — now that lofty sum is the minimum required."

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This article originally appeared on CultureMap.com.

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From online shopping to gifting devices, technology plays a huge role in the holidays, this Houston expert says. Getty Images

Americans are expected to spend $97.1B on technology gifts this year — Houston expert shares financial advice for shoppers

Guest column

Like clockwork, the holidays are here again. Black Friday, Small Business Saturday, and Cyber Monday have all successfully come and gone, but yet, many of us are still left with presents to purchase and to-do lists to complete. Houstonians are expected to spend $1,562 this holiday season completing their holiday shopping. That is up three percent from last year.

While Houstonians expect to spend over $500 on gifts for loved ones, a whopping $606 will be spent on "experiences" and $421 on non-gift items such as clothing and home furnishings as they gear up for the holiday season with parties and houseguests.

What are Americans planning to buy this holiday season? Nationwide, 74 percent of Americans are expected to spend $97.1 billion on technology gifts this holiday season. According to a survey, the number one technology gift for this year is content-related gifts such as video games or streaming services. The days of buying discs or consulting the TV Guide are long gone. Americans are looking for ways to stream music, movies, and TV shows.

Other hot technology gadgets include smart speakers, smart phones, TVs, laptops, tablets, and wearables. Smart camera doorbells, which allow residents to see who is at their door, and smart lightbulbs, which enable lighting to be controlled remotely through the internet, continue to climb the gift-giving lists.

Technology is playing a significant role in how we make our purchases. Fifty-six percent of Americans are planning to buy their holiday items online, with only 36 percent obtaining gifts and other seasonal items in brick and mortar locations. Many of us are ordering gifts right from our smart phones.

All this spending on others, while thoughtful, is bound to get some of us in financial hot water. The key is to budget. Set a budget for each person you plan to shop for, such as family members, colleagues, friends, even for service providers such as your hairstylist. Once your budget is set, stick to it. I have found that using a spreadsheet to track expenses is helpful, or good old-fashioned pen and paper works well, too. You may be surprised how quickly your expenditures add up, even the small ones. Tracking is an excellent way to stay accountable to your budget.

Last year, the average consumer racked up over $1,000 in debt as part of their holiday shopping. By budgeting wisely, you can avoid debt. While credit cards are convenient, sometimes they make it a little too easy to spend more than planned. Not staying within your budget can give you quite a spending hangover in January. To combat credit card overuse, use cash whenever possible.

Additionally, limit your shopping days. The less you visit stores or malls, the less likely you are to be tempted. Moreover, purchasing online can help you stick to your budget, just be careful not to spend more than your budget allows. Another smart strategy to cut costs is to select items with free shipping over fast shipping.

With the holidays quickly approaching, ensure you are smart about your holiday spending. Technology is a fantastic and convenient avenue for shopping. And, our smart phones have provided us another avenue in which to compare prices and look for deals. Whichever channel you choose to shop — bricks and mortar or cybershopping — ensure you stick to smart spending.

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Dominic Cellitti is a financial adviser with the Wealth Management Division of Morgan Stanley in Houston.

Every penny counts when you're starting a company. Getty Images

4 financial concerns to keep in mind when launching a startup

Must be the money

You have been working on a new creative technology idea for months, an idea that will solve a problem or make a current process even better. Your innovative idea is ready for the next step, and you, in turn, are prepared to begin your tech startup. Building a company can be stressful and exhausting, but also exhilarating and rewarding. As you begin your product launch, keep these financial tips in mind when starting out.

Consider your funding
Determine how much funding you can use from your personal accounts to jumpstart your business. By investing some of your own money into your company, you show good faith in your business plan and product. This method is appealing to investors because it shows you have a long-term commitment to the company. Next, determine how much you will need from other sources and what those other sources should be. Potential options of funding in addition to traditional bank loans are venture capitalists, angel investors, government grants, and support from business incubators.

Determine your budget
An essential step of starting up is concluding how much funding you need to get started. Establishing a realistic budget is crucial. It can make the difference between having a successful business or joining the 50 percent of small businesses that fail in the first four years. The hiring of employees, leasing office space or lab space, purchasing office equipment, paying for insurance (health and liability) and providing yourself a salary are all items that need to be included in your budget.

Unanticipated extra costs occur from time to time, so overestimate your expenses. Underestimating expenses can sink your startup. Ensure your business is solvent by preparing your budget for more. Additionally, keep in mind different types of expenses, and budget accordingly. For example, you may have one-time costs and on-going costs or fixed costs and variable costs.

Cash flow
According to a U.S. Bank Study, 82 percent of businesses that fail do so because of cash flow problems. Managing your cash flow is crucial to success. Without positive cash flow, you are not able to pay your employees, rent, or taxes. Having profits does not necessarily mean you have positive cash flow. Keep ongoing cash flow work sheets to ensure you have the cash you need to continue on a successful path.

Managing for life
As mentioned earlier, make sure you pay yourself something. It does not have to be a big salary in the beginning, but you need to eat. Additionally, you need to save for emergencies. An old rule of thumb states that an emergency fund should consist of three to six months' worth of expenses. As a result, an emergency fund can make the months where business is slow, or between projects, more sustainable.

Meanwhile, it is a good idea to separate your personal and business banking accounts. Doing so will allow you to stay more organized and help tracking and managing expenses easier. Additionally, separate accounts may be beneficial when paying taxes. Consult a tax professional for additional guidance on taxes. Finally, do not forget to save for your retirement. While it is important to focus on your new business, do not neglect to take care of your personal financial health.

With proper planning and continued financial monitoring, starting your own tech business can be done well and bring years of career satisfaction.

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Joseph Radzwill is senior vice president and a financial adviser with the wealth management division of Morgan Stanley in Houston.

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Bristol Myers Squibb to build $2.3B Houston pharma manufacturing campus

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New Jersey-based pharmaceutical giant Bristol Myers Squibb Co. has officially named Houston as the home of its new state-of-the-art manufacturing site.

The 60,000-square-foot facility represents a $2.3 billion investment, according to a news release. It is expected to create 500 skilled jobs and will be located in Houston's Generation Park.

BMS first announced that it was considering Houston among 16 other cities for the facility in May. The new hub will manufacture small molecule, biologic and antibody-drug conjugates and is part of a $40 billion commitment to invest in the United States over five years. Construction is slated to begin next year, with the facility coming online in 2030.

"We're building the domestic manufacturing capabilities needed to deliver the next generation of medicines and support future scientific breakthroughs. Houston and the state of Texas offer the talent, infrastructure, and partnership needed to help bring that vision to life," Christopher Boerner, CEO and board chair of BMS, said in the release.

The new facility will feature a modular, multi-modal design, which will allow the company to reconfigure and add to its manufacturing capabilities over time. BMS says it expects the facility to "(grow) in scale and capability well beyond its opening configuration."

"Our decision to build this state-of-the-art manufacturing campus in Houston, Texas, reflects our confidence in the region’s ability to support a world-class, digitally advanced supply operation,” Karin Shanahan, EVP and chief supply chain and operations officer of BMS, added in the release. “This facility is designed to deliver the speed, quality, and reliability that patients depend on, combining flexible, modular manufacturing with advanced digital capabilities to ensure consistent supply across multiple modalities. It strengthens our ability to operate with resilience and positions us to reliably deliver medicines to patients today while adapting future demands.”

Texas Gov. Greg Abbott shared that the state has granted BMS a $4.89 million Texas Enterprise Fund (TEF) grant for the project. TEF grants, administered by the Texas Economic Development & Tourism Office, support business relocation or expansion projects that create "new, good-paying jobs in the community and attract significant new capital investment to the state." The development is also a qualified project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program.

“Texas is a global hub for life sciences, where today’s innovations shape the future of healthcare,” Abbott said in a news release. “This $2.3 billion investment by Bristol Myers Squibb in the dynamic biotech ecosystem in Houston is a testament to the depth of our skilled workforce and the pipeline of talent coming through our nation-leading technical colleges and research universities. With lower operating costs and easy access to markets across the U.S. and the world, Texas drives affordability for consumers.”

"Bristol Myers Squibb’s announcement is a tremendous win for Texas and the Houston region, further reinforcing our position as a premier destination for life sciences and advanced manufacturing,” added Greater Houston Partnership President and CEO Steve Kean.

Last fall, Eli Lilly and Co. selected Generation Park, a 4,300-acre, master-planned commercial district near Lake Houston, for its $6.5 billion manufacturing plant. More than 300 locations in the U.S. competed for the factory. Read more here.

Texas foundation makes massive $180M donation to Galveston hospital

historic gift

The University of Texas Medical Branch in Galveston (UTMB) has accepted a staggering $130 million grant from the Sealy & Smith Foundation, which, combined with the $50 million that the foundation donated in 2025 to establish the Department of Cardiovascular Medicine, is the largest bequest in UTMB history.

The grant will go to grow cardiovascular imaging, diagnosis, and treatment at UTMB by establishing an inpatient cardiovascular hub on the sixth floor of Jennie Sealy Hospital. In honor of the donation, the department is being renamed the Sealy Heart and Vascular Institute.

“The Sealy & Smith Foundation has a long history of investing in initiatives that transform health care for the people of Galveston and beyond,” said John Kelso, president of The Sealy & Smith Foundation Board of Directors. “We believe the Sealy Heart & Vascular Institute has the potential to redefine cardiovascular care in our region by bringing together exceptional physicians, advanced technology, innovative research and a commitment to improving patient outcomes. This additional investment reflects our confidence in UTMB’s vision and our belief that the Institute will have a lasting impact for generations to come.”

The Sealy & Smith Foundation was established in 1922 by John Sealy II and his sister Jennie Sealy Smith. Bolstered by the Sealy fortune built on shipping, oil, banking, and railroads, the Foundation has donated more than $1.2 billion to UTMB over the last century, linking the family legacy to healthcare, teaching, and research. It was John Sealy Sr. who contributed the initial $50,000 to build a hospital on the island, which opened right alongside the new medical school created by the state legislator in what was then Texas's largest and most economically powerful city.

Since then, the Foundation has helped grow UTMB into a world-class hospital. The cardiovascular care especially is well-regarded, making the 2025 Newsweek/Statista List of America's Best Hospitals.

“This extraordinary investment reflects The Sealy & Smith Foundation’s unwavering commitment to improving health and advancing medical excellence,” said Dr. Jochen Reiser, UTMB president and CEO of the UTMB Health System. “The partnership between UTMB and The Sealy & Smith Foundation is very strong. Built on generations of shared vision and trust, it continues to redefine what an academic health system can achieve. Together, we are building one of the nation’s premier cardiovascular programs integrating exceptional patient care, groundbreaking research, innovation and world-class education to improve the lives of patients throughout Texas and beyond.”

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This article originally appeared on CultureMap.com.

UTHealth Houston team joins NASA initiative to protect border drinking water

water watch

Climate change means far more to public health than living with hotter days. Transformations in our weather are contributing to challenges in accessing safe drinking water in some communities.

One of the most dire situations is along the US–Mexico border. The National Aeronautics and Space Administration (NASA) is seeking to address that issue with its Water Quality Applications program. An 11-researcher project led by a UTHealth Houston School of Public Health faculty member has been selected to participate.

“Drinking water is one of the most fundamental public health protections, but producing safe drinking water involves a delicate balance,” Yun Hang, assistant professor of environmental and occupational health sciences, said in a news release. Her team’s proposal was one of 93 that were submitted for funding through NASA’s Research Opportunities in Space and Earth Sciences (ROSES)-2025 program.

This is the first time that NASA has worked with a team devoted to water quality applications. The group, which includes researchers from across the nation, will use satellite observations of Earth, as well as hydrologic modeling, to potentially anticipate and act on water quality conditions as they change. Challenges addressed over the course of the three-year program, which kicked off in June, might include problems with water quality due to climate variability and increased pressure on water resources.

Hang’s team will focus on a pair of borderlands: Paso del Norte and the Rio Grande Valley.

“Working closely with El Paso Water ensures that our research addresses real operational needs while helping utilities better prepare for climate-related water quality changes and continue providing safe drinking water to communities across the Texas border region,” Hang added in the release.

She and the team will use data gathered by NASA on both past and future Earth-observing missions, which will allow them to track environmental changes that may affect source water quality. Combined with past water treatment records and hydrologic models, the team will also utilize artificial intelligence to develop predictive tools that aim to stop issues before they become larger hurdles to water safety.

Another one of the project’s goals is to create visualization tools and source water summaries that can be utilized by those without scientific expertise. The tools will be produced in English and Spanish to further broaden their accessibility.

The hope is that the materials made by the team will also go far beyond the border, with protocols that can be adapted or adopted by other areas dealing with water quality issues.

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