MLS # 50056021 Son and heir apparent Hunter Hunt has helped move the family business into electric power, building a utility company and a high-voltage interconnection between the grids of Texas and Mexico. His net worth could be considerably higher than our conservative Forbes estimate. Texas has 34 billionaires on Forbes wealthiest 400 list. We were drinking a pair of Golden Scotch Mists, in the Golden Rooster Club, high atop The Inn of the Golden Westand looking down on miles and miles of Flat Brown. 1 spot with a $59,283 per capita investment income, $279,569 median home value and $126,631 per . 56): $8.6 billion Richard Kinder (No. - Source of wealth: Dell Technologies, Self Made, #2. 1 of 32 Click through the gallery to see the richest families in Texas, . Most Dangerous Places In Texas; Best Places To Raise A Family In Texas; Detailed List Of The Richest Cities In Texas. Mansfield is one of the numerous communities that make up the Dallas-Fort Worth Metroplex. The fittest survived and, as Darrell Royal says, The big uns ate the little uns plumb up.. Whats that going to be in north Midland? A diversified economy was their goal. In this, however, they probably are guilty of little more neglect than the Texas norm: city reporters may rake a little muck in Houston or Dallas, but in Amarillo and Abileneor in Lufkin or Lubbockyou will not find much dirt disturbed unless the wind does it. In 1995 Cuban and Indiana U. pal Todd Wagner founded Broadcast.com on the novel idea that people might like to watch video over the interwebs. Chao moved his family to America from Taiwan in the 1980s, where they quickly began acquiring chemical plants in the United States southeast corridor. The angry Old Testament God is not dead in the Permian Basin; indeed, He remains healthy and able to extract His vengeances. The Midland-based firm has suitors including Exxon Mobil Corp. and Chevron Corp. weighing bids that could value the company at $15 billion, including about $1 billion of debt. The Basses hold down the No . The Texas banker also made a tidy sum during the Great Recession, buying distressed assets while the nations biggest banks were getting taxpayer bailouts. Midlands old First Families themselves owned much of the underground wealth; their ancestors, tenaciously accumulative, sometimes had left spreads reaching into other Permian Basin counties and even far up into New Mexico. He owns one of the largest collections of vintage military war planes and is a wildlife conservationist working to preserve 6 million acres in Tanzania. After Faskens grandson David Jr. died in 1982, he left the ranch to his wife, Barbara, who took over the company and was recognized in 2003 for her contributions to the family business, according to a previous Reporter-Telegram story. - Residence: Electra, Texas Stanley Kroenke- Net worth: $12.9 billion (#138 wealthiest in the world) 3 is Berkshire Hathaway investor Warren Buffett at $65.5 billion. In 1913, David Fasken Sr., a Canadian lawyer, purchased a ranch in West Texas that was later discovered to straddle a sea of Permian Basin oil, according to Forbes. Man charged with kidnapping, assaulting woman in AMBER alert case, Midland Health: Beat the stress of New Years resolutions in 2023, HS BOYS BASKETBALL: Greenwood loses heartbreaker to Seminole, HS BASKETBALL ROUNDUP: MHS boys get key district road win, Pioneer COO: Oil and Gas in Permian Basin in state of growth, HS GIRLS BASKETBALL: Seminole beats Greenwood to move into 1st. Students of the new (1973) University of Texas of the Permian Basin at Odessa are still complaining of authorities censoring their school paper and firing its editor in 1974. Milane Frantz- Net worth: $6.5 billion (#364 wealthiest in the world) This new true wealth list complied by Forbes magazine includes 19 Texas families whose influence is undeniable. It took a fortune of at least $2 billion to make Forbes 2017 list of 400 richest Americans. The net worth of Fort Worth billionaire Alice Walton, the only daughter of Walmart founder Sam Walton, accounts for a little over one-fourth of the family fortune. Ken Fisher- Net worth: $6.2 billion (#396 wealthiest in the world) Upon his death, he left his nearly $10 billion estate to his four children. 11 on the Forbes list. Politically, this is bedrock conservative territory with the nut wing among Rightists well-represented. November 2022 Reader Quiz: What Did You Learn? Andrew Beal- Net worth: $10.0 billion (#174 wealthiest in the world) A lot of em came out here fresh from the proper schools back East, married to husbands farmed out to protect second- or third-generation family investments or to serve some corporate interest back there. Bondo got his start working in the family office of Fort Worth billionaire Robert Bass. Maybe because its tax time coming up. Beyond the magazine. One hears of battles breaking out in the public schools over the vital matter of proper Dress Codes, and occasional patriots picket visiting speakers harboring loose ideas. - Source of wealth: pipelines, #16. By 1987, she had consolidated her oil and gas operations into one company directly under her ownership and control, which was involved in all aspects of exploration, production, and marketing oil and gas in the Permian Basin, according to the story. - Source of wealth: pipelines, #15. We analyzed 349 places in Texas to determine where the 1% live. Fast forward some 100 years to 2021: as the COVID-19 pandemic continued to rage, a record-breaking 660 people became billionaires globally, growing the previous year's number by 30%. The companys annual sales are around $28 billion. With $700 between them they launched hair care empire John Paul Mitchell Systems (still going strong with $1 billion in sales). Sold his majority stake in the Houston Astros in 2011 to Jim Crane. If you fill out the first name, last name, or agree to terms fields, you will NOT be added to the newsletter list. - Source of wealth: Walmart, #8. Odessa might break my jaw, sure, but Midland, with its socio-economic snobberies, automatic exclusions, and reflexive acquisitive instincts, seemed a threat to break my spirit. Benson is Louisianas only person on the 400 list. The Flatlanders dont have a song about it. Perots Hillwood real estate company sold 15 million square feet of industrial space last year and continues to build data centers for Facebook and distribution centers for Amazon. - Source of wealth: Tesla, SpaceX, Self Made. James Leininger, founder of Kinetic Concepts Inc. that is now owner by Apax Partners, had a fortune of $1.3 million. All these energetic movers and shakers needed facilities, so Midlands banks plowed their capital into mini-skyscrapersnineteen stories, twenty-four, twenty-nine; it was astonishing to see a budding Dallas springing from the flat desert floorand soon the major oil companies, as well as the independents, became tenants. Together, those eight Midlanders had a combined estimated total wealth of $2.45 billion, and included Cy Wagner and Jack Brown, each with a personal wealth of $550 million; Carlton Beal ($400 million), John L. Cox ($350 million), Clarence Scharbauer Jr. ($250 million), John Hendrix ($150 million), Clayton Williams Jr. $100 million) and Fred M. Allison Jr. ($100 million). in 1984. Midlands civic leaders and community dads, in effect, proved short-sighted. This is, and has been, the working mans town., Childress shifts on his barstool in a manner to indicate he has enjoyed about all the good spoken of Midland that he can stand. Odessa, on the other hand, has little demand for corporate lawyers. Dan Solomon writes about politics, music, food, sports, criminal justice, health care, film, and business. More than once I caused hard feelings and was considered a poor community sport by fighting such ersatz cowboys as they attempted to toy with my civil rights. The 400 together have a massed wealth of $2.7 trillion, up from $2.4 billion last year, according to the magazine. It is a matter of being able to forwardly organize our lives in a positive way. With his three brothers, Ed inherited several million from oil tycoon great-uncle Sid Richardson (d. 1959). Those who are Disney On Ice Preferred Customers can get a head start and buy tickets now. Whats that going to be in north Midland? In October 1983, just 13 months after the 1982 Forbes 400 issue was released, wealth itself -- as well as Midland's future economic outlook -- changed dramatically with the failure of First National Bank. His Landrys restaurant brands include Bubba Gump Shrimp, Saltgrass Steak House, and every parents animatronic gorilla nightmare: Rainforest Cafe. Billionaires are ranked by net worth as of January 3. Man charged with kidnapping, assaulting woman in AMBER alert case, Midland Health: Beat the stress of New Years resolutions in 2023, HS BOYS BASKETBALL: Greenwood loses heartbreaker to Seminole, HS BASKETBALL ROUNDUP: MHS boys get key district road win, Pioneer COO: Oil and Gas in Permian Basin in state of growth, HS GIRLS BASKETBALL: Seminole beats Greenwood to move into 1st. The Butts and the Waltons aren't the only wealth families in the Lone Star State. In June 2017, after intense protests led by the Standing Rock Sioux tribe and an executive order from President Trump, Energy Partners was able to finish the 1,172-mile line, which carries 500,000 barrels per day. When I go back, my old Midland friendswith rare exceptionspreach to me: my judgments are excessively harsh, I drink too much, I do not enough appreciate my roots and the country that helped shape me, I should shuck the tinsel glitter and false gods of the East to come on home and recover the old values. The 1,532 sq. Compared to Texas, Midland home prices are more expensive than the state's average of . As early as 1950though the fact then was obscured by the runaway boomits formerly vigorous old-timers began to lose their visions and their grips. To this day, I see signs of uneasy employer-employee relations and the notion, somehow, that the worker better not forget who butters the bread. The next richest Texan is Alice Walton with an estimated $55.7 billion. While the land lay parched, the people underplayed the disaster. This inherited inclination not to face reality and to soft-pedal shortcomings or failures, accounts in some measure for Midlands having been out-stripped by Odessa in recent years. 18 on the Forbes list with a net worth of $15.5 billion. A small part of Midland is in Martin County.. At the 2020 census, Midland's population was 132,524. If you would like to become a Disney On Ice Preferred Customer, you can sign up here. With wife Mindy he opened Houstons River Oaks Donuts. Universal Studios Is Coming to Frisco. When Midlands big uns decided to loan money in a big way for oil speculationas World War II ended and manpower and materials were in goodly supplythey were not exactly running foolish, riverboat gambler risks. As in an earlier time, Odessa is looser, more informal, more rollicking, more old-shoe and howdy-do. He and wife Laura have given $500 million to the Arnold Foundation. Mimi Swartz is a staff writer based in Houston. Not that either city is much of a paradise to a former resident of both, now that he has much roaming on his record. Other wealthy sectors include food and drink, fashion and retail, and media and entertainment. Rounding out the Texas contingent on the Forbes list are members of Fort Worths Bass family. Per-capita personal income in Midland reached $65,173 in 2011, 12% higher than in the previous year. The net worth of each heir exceeds $5 billion. Its basic. Gave $25 million to the University of Texas business school in 2013. Yes, Midland is the second-weatlhiest metro area in the country (measuring personal income per capita in 2011), according to new data from the Bureau . He also owns ranches in Texas and Flint Hills of Kansas where he is devoted to seeding with native grasses. as well as image rights, data visualizations, forward planning tools, Ken Fisher - Net worth: $6.4 billion (#391 wealthiest in the world) - Residence: Dallas, Texas - Source of wealth: money management, Self Made. In 1991 Lee donated $20 million to alma mater Yale for a new program in Western Civilization. 163 with a $1.5 billion combined net worth. The foundation has historically been a big a supporter of education, said Executive Director Jeff Alsup, noting the first grant was given to a student. Whatever spirit of adventure and hot fevered hope as live in the Permian Basin exist among these. In Texas, low oil prices have flatlined the growth in some fortunes, like that of San Antonio natural gas tycoon Rod. Who are the wealthiest families in Texas? 10. The other Texas billionaires that made Forbes' list are: Jerry Jones: Owner of the Dallas Cowboys. Jones bought the Dallas Cowboys for $150 million in 1989. Michael Paulsen Show More Show Less. Theres got to be a higher purpose to serve in this life, he says. Midland at that time refused to join the Upper Colorado River Authoritya mistake Odessa did not makeand fifteen years would pass before the city, after many costly drilling operations discovering dry holes, found water sources sufficient to encourage modern industry. When I visited an Odessa bookstore in the late 1960s, while on a promotion tour, the Birchers posted a lady who wrote down all the dangerous things I said. The team is now worth $1.55 billion by Forbes last count. Pricetag: $120 million. But someone might tryand many others would. Local parks, elementary schools and business centers bear the Fasken family name today, and there are two charitable foundations tied to different branches of the family. Just ask the Hoffmann and Oeri families, ranked as the 14th richest families in the . Lee spent 12 years as commissioner of the Texas Parks and Wildlife Department. One thing fails to lead to another, so to speak, and soon the Midland Women feel stuck out here. Such natural conservative reflexes as were handed down by the regions original settlers (independent, isolationist critters willing to risk a raw country in exchange for individual opportunities) have been reinforced, and continue to be reinforced, by the one-note drummings of what Harry Truman called the one-party press. Of course, the safely monopolistic newspapers in each city fail to run the risks of the early-day pioneershell, they dont even run the risks of that competitive Free Enterprise system they so doggedly recommend to the rest of usas they preach against meddling Feds, Godless Reds, labor unions, and government spending or sapping taxations at all levels. The Hunt family oil dynasty tops the Dallas wealth meter with a $14.2 billion net worth and ranks 15th overall in American family riches. The U.S.'s wealthiest billionaires are mostly concentrated within just a couple of industries: finance and investments, and technology. Just tell the truth. These are the top 40 wealthiest people in Texas for 2019 Alice Walton (No. Hunt, Herbert in the 1970s joined with brother Nelson Bunker Hunt (d. 2014) to try and corner the world silver market. They view their experiences as having suffered some remote outpostas with the British, say, in India. #20. In Aspen, Colo. he owns a 1,000-acre ranch that used to belong to John Denver. There is a new restaurant/bar opening this week on Big Spring Street in central Midland. In 2014 he ended his career with a $70 billion megadeal that consolidated four affiliated companies into one goliath that now owns or operates 84,000 miles of pipe. Arnold was a wunderkind natural gas trader who earned Enron $750 million the year before its collapse. They seem to smell it. Today, private jet start-up Aerion is the most high-profile investment by low-profile Robert. Enjoys ranches in Kentucky and New Mexico, homes in Dallas and the Hamptons. H.L. Not that its like it was in the early Fifties; the towns not a wide-open sinkholebut were keepin an eye on it. Midland, too, has known its drilling activity; as in the older time, however, it fails to bustle in concert with Odessas tempo. In 2002 he had his first big score when he and billionaire friend Ron Perelman sold Californias Golden State Bancorp to Citigroup for $6 billion in stock. An avid reader, Kinder is a big fan of Winston Churchill: Probably the greatest person of the 20th century in terms of the direct contributions of one individual.. Driven to bring world-class art to Arkansas, in 2011 she opened Crystal Bridges museum in Bentonville. 67): $7.5 billion He sold his power generator company Cogen Technologies to Enron for $1.5 billion in 1999, and now invests in public and private equity. 15 on the national list; their source of wealth . Origin of the fortune was their uncle Sid Richardson, a legendary wildcatter. In the 1970s DeJoria sold shampoo door-to-door and slept in his car. After about an hour of itafter miles of oil derricks, runty little stands of sagebrush or greasewood, and billboards plugging steak houses, country music radio, automobile or insurance bargainsone may begin to wonder where Texas keeps its bluebonnets or America stores its purple mountain majesties. Everybody kinda let their equipment run down in the last few years, not much drilling was going on, and when things opened up it caught us off-base. View Map of Poorest Zipcodes in Odessa-Midland Area. The Johnsons with $61 billion. A change in methodology by the magazine eliminated H-E-B Chairman and CEO Charles Butt from the ranking. Four months ago, in November 2012, The Atlantic magazine noted that Midland was the second richest metro area in the country, behind Bridgeport, Conn. 49): $9.7 billion Jerry Jones (No. It has given scholarships every year since to Midland students primarily going to Texas schools.. He went on to work at Kraft Foods and Goldman Sachs, then launched investment group Vista Equity Partners in 2000. Known to be a sentimental packrat, Perot brought over his 6,000-object collection, including a walking stick purported to have belonged to Osama Bin Ladin. by | May 21, 2022 | average number of snow days in havana, cuba | May 21, 2022 | average number of snow days in havana, cuba Here are the top ten richest Texans. While at Cornell, Smith secured an internship at Bell Labs after calling every week for five months. 226 in the country. Today, though Midland held a slight population edge through the early 1940s and the growth battle remained close for another twenty years, Odessa claims more than 83,000 people to Midlands 58,000 and has clearly become the area trade center. The ranking includes 2,153 people who have a combined wealth of $8.7. The four children of pipeline mogul Dan Duncan Randa Duncan Williams, Milane Frantz, Dannine Duncan Avara, and Scott Duncan inherited a $10 billion estate from their father when he died in 2010. wealthiest families in midland texas. Michael Dell- Net worth: $52.5 billion (#23 wealthiest in the world) Over four decades theyve expanded the wealth via smart investments made by former employees including Richard Rainwater (d. 2015) and David Bonderman, though a September 2001 margin call wiped out billions in Disney stock. Investing in the dusty expanses of West Texas more than 100 years ago has paid off for the Fasken family, which just earned a spot on Forbes list of wealthiest dynasties. . I thought it a pretentious place, one excessively concerned with form and appearance, one full of fake camaraderie and gimlet-eyed hustlers bent on getting the buck. 1. The oil and real estate company, which celebrated its 100-year anniversary in May 2013, is one of the regions largest private energy producers with nearly 1,000 wells, according to Forbes. 167 in the nation. To be sure, many of these supporters rank among the wealthiest people in the country and are as prolific in their giving as in their networking. Listed on 2023-01-01. Teaches Sunday school. Full Time position. In seven deals over seven years Rees-Jones grossed $7 billion. During the oil downturn Rees-Jones has been picking up royalty interests in the Permian Basin, which he thinks will keep paying out for decades. A sale of that. Still awed by his 86-year-old father: I got to see the American dream unfold in my living room. F. Follow this author to stay notified about their latest stories. Dimitrios Kambouris/Getty Images. The PC company that Dell started in his University of Texas at Austin dorm room at 19 is now a hardware and storage juggernaut, Dell Technologies. Their descendants had the then-sacrosanct 27 1/2 per cent oil depletion allowance going for them, which made Tax Time almost as merry a season as Christmas. June 1975 0. But 1997 oil and gas had driven him to the drinks trade. Walmart heir Alice Walton of Fort Worth tops the Forbes' list of Texans with an estimated net worth of $38.2 billion, ranking as the 13th richest American. Inside Friscos Lavish, Enormous New Golf Resort. "In 1913, David Fasken Sr., a Canadian lawyer, purchased a ranch in West. Midland oil dynasty lands on list of wealthiest families. Working with Airbus, Aerion seeks to build the first supersonic business jets. And you thought getting a prime table at Brasserie 19 on a Friday night made you a power player. In 2020, Midland, TX had a population of 141k people with a median age of 31.4 and a median household income of $83,616. The chain-owned Odessa American (a product of Freedom Newspapers, with headquarters in Orange County, California) is the more blunt and strident; the home-owned Midland Reporter-Telegram tends to pussyfoot or hem and haw. Terrell Hills (San Antonio) Population: 5,371 Rank last year: 1 Median household income: $181,979 Unemployment . This year he teamed with Carlyle Group to buy ConocoPhillips Colorado gas fields for $3 billion. Tilman Fertitta. - Residence: Houston, Texas Heres What We Want at the Park. We just need to tap that power, that conviction, that determination within us., Long before Mark Cuban got famous for being that loudmouth guy on Shark Tank and on the sidelines of Mavericks games he made one of the best scores of Internet 1.0. That sum represents close to half of Walmarts annual revenue and is equivalent to the size of Chiles economy. - Residence: Austin, Texas Later he launched Perot Systems, which Dell bought for $3.9 billion in 2009. 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