Dallas and Houston Tycoons Make Up Nearly 10 Percent of Forbes List: Walmart heiress Alice Walton is the richest person in Texas

From Paper City

They say everything is bigger in Texas. And judging by The Definitive Ranking of the Wealthiest Americans, the Lone Star State has scored big. Forbes magazine’s new rankings of the 400 richest billionaires in America shows just how much money there is the Lone Star State.

A stunning 38 Texans made the list, just shy of 10 percent of the total.

The Dallas-Fort Worth region leads the way, placing a whopping 18 billionaires on the Forbes 400. Thirteen Houston billionaires made it — with one actually living in The Woodlands.  Austin boasts six and one Brownsville billionaire made the cut.

Of course, Walmart heiress Alice Walton reached the tippy top of Texas financial titans. She remained the wealthiest person in Fort Worth and the entire state, and ranks as the 12th richest person in the entire country. According to Forbes, her net worth clocks in at $44.9 billion — a full $6.7 billion more than last year.

There were a few common denominators among the wealthiest of the wealthiest. Many Texans earned their fortune through pipelines and oil. No surprise there. There are the occasional outliers — computers and hair products, anyone? — but energy’s definitely the Lone Star State lifeblood.

12 (tie). Alice Walton

Net worth: $44.9 billion

City: Fort Worth

Source of wealth: Walmart

Wealth Nugget: She opened the Crystal Bridges Museum of American Art in Bentonville, Arkansas, where she was born.

  1. Michael Dell

Net Worth: $27.6 billion

City: Austin

Source of wealth: Dell computers, self-made

Wealth Nugget: His foundation has committed more than $1.5 billion for charities, with an emphasis on child poverty.

  1. Andrew Beal

Net worth: $9.9 billion

City: Dallas

Source of wealth: Banking, real estate

Wealth Nugget: He made money during the Great Recession by buying struggling assets.

  1. Jerry Jones

City: Dallas

Net worth: $6.9 billion

Source of wealth: Dallas Cowboys

Wealth Nugget: He’s an avid art collector and owns paintings by Renoir, Matisse, Picasso and Norman Rockwell’s “Coin Toss.”

79 (tie). Rich Kinder

City: Houston

Net worth: $6.6 billion

Source of wealth: Pipelines

Wealth Nugget: In 2015, he donated $25 million to the University of Missouri to enhance U.S. constitution studies.

88 (tie).  Dannine Avara

City: Houston

Net worth: $6.2 billion

Source of wealth: Pipelines

Wealth Nugget: Her father, Dan Duncan, was once the richest person in Houston.

88 (tie). Scott Duncan

City: Houston

Net worth: $6.2 billion

Source of wealth: Pipelines

Wealth Nugget: He and this three older siblings inherited a stake in their father Dan Duncan’s pipeline firm, Enterprise.

88 (tie). Milane Frantz
City: Houston

Net worth: $6.2 billion

Source of wealth: Pipelines

Wealth Nugget:: Daughter of the late Dan Duncan, she is a board member of Houston’s Hermann Park Conservancy.

88 (tie). Randa Williams
City: Houston

Net worth: $6.2 billion

Source of wealth: Pipelines

Wealth Nugget: Daughter of the late Dan Duncan, she  sits on the board of the University of Texas Health Science Center.

107: Robert Rowlin

City: Dallas

Net worth: $5.8 billion

Source of wealth: Hotels, investments

Wealth Nugget: In 2013, he donated $25 million to the University of Texas McCombs Business School.

127 (tie). Ray Lee Hunt
City: Dallas

Net worth: $5.3 billion

Source of wealth: Oil, real estate

Wealth Nugget: He is the wealthiest of famous wildcatter H.L. Hunt’s 15 children.

127 (tie). Trevor Rees-Jones
City: Dallas

Net worth: $5.3 billion

Source of wealth: Oil and gas

Wealth Nugget: He grossed $7 billion in seven years on  seven deals.

134 (tie). Robert Bass

City: Fort Worth

Net worth: $5 billion

Source of wealth: Oil, investments

Wealth Nugget: He and his wife Anne have donated $50 million to Duke and $50 million to Stanford.

136 (tie). Kelcy Warren

City: Dallas

Net worth: $4.9 billion

Source of wealth: Pipelines

Wealth Nugget: He co-founded Energy Transfer in 1995.

153 (tie). Tilman Fertitta

City: Houston

Net worth: $4.5 billion

Source of wealth: Restaurant, entertainment and casino empire, second-year owner of Houston Rockets.

Wealth Nugget: He’s in the process of getting a custom-made Bugatti.

163 (tie). Robert Smith
City: Austin

Net worth: $4.4 billion

Source of wealth: Private equity

Wealth Nugget: The former engineer worked at Goodyear Tire and Kraft Foods before getting his MBA at Columbia.

172 (tie). Ross Perot Sr.
City: Dallas

Net worth: $4.2 billion

Source of wealth: Computer services, real estate

Wealth Nugget: He ran for president in 1992 and 1996.

179 (tie). Bert “Tito” Beveridge
City: Austin

Net worth: $4 billion

Source of wealth: Vodka

Wealth Nugget: He launched Tito’s Vodka 1997 with $90,000 using 19 different credit cards.

179 (tie). Dan Friedkin

City: Houston

Net worth: $4 billion

Source of wealth: Toyota dealerships

Wealth Nugget: His film production studio produced All The Money in The World.

179 (tie). Jeffery Hildebrand
City: Houston

Net worth: $4 billion

Source of wealth: Oil

Wealth Nugget: In 2015, he rewarded every one of his 1,400 employees with a $100,000 bonus for doubling the size of the company in five years.

190 (tie). Mark Cuban

City: Dallas

Net worth: $3.9 billion

Source of wealth: Online media

Wealth Nugget: He offered disco lessons to help pay his way through college.

200 (tie). Robert McNair

City: Houston

Net worth: $3.8 billion

Source of wealth: Energy, Houston Texans

Wealth Nugget: He was one of the first people to pledge $1 million in aid after Hurricane Harvey.Texans owner Bob McNair is getting his own giant statue.

232 (tie). Sid Bass

City: Fort Worth

Net worth: $3.4 billion

Source of wealth: Oil, investments

Wealth Nugget: After the 2015 listeria outbreak, he bailed out Blue Bell with $125-million loan.

239 (tie). John Arnold

City: Houston

Net worth: $3.3 billion

Source of wealth: Hedge funds

Wealth Nugget: When he was just 38, he announced he would no longer manage other people’s money.

239 (tie). David Bonderman

City: Fort Worth

Net worth: $3.3 billion

Source of wealth: Private equity

Wealth Nugget: He founded the Bonderman Travel Fellowship at the University of Washington to sponsor fellows to travel to at least six countries in eight months.

271 (tie). Joseph Liemandt
City: Austin

Net worth: $3 billion

Source of wealth: Software

Wealth Nugget:: He founded Trilogy Software.

280 (tie). Gerald Ford

City: Dallas

Net worth: $2.9 billion

Source of wealth: Banking

Wealth Nugget: He is the majority shareholder of Mechanics Bank in California.

316 (tie). Ray Davis

City: Dallas

Net worth: $2.6 billion

Source of wealth: Pipelines

Wealth Nugget: He stepped down as co-CEO of Energy Transfer in 2007, but he still owns six percent of the company.

316 (tie). John Paul DeJoria

City: Austin

Net worth: $2.6 billion

Source of wealth: Hair care products, tequila

Wealth Nugget: He is the founder of Patron and cofounder of John Paul Mitchell Systems.

328 (tie). William F. Austin

City: Brownsville

Net worth: $2.5 billion

Source of wealth: Hearing aids

Wealth Nugget: He travels to developing countries to distribute hearing aids.

328 (tie). Lee Bass

City: Fort Worth

Net worth: $2.5 billion

Source of wealth: Oil, investments

Wealth Nugget: He raises longhorn cattle in deep South Texas.

328 (tie). George Bishop

City: The Woodlands

Net worth: $2.5 billion
Source of wealth: Oil and gas

Wealth Nugget:: He owns Chub Cay island in the Bahamas.

328 (tie). W. Herbert Hunt

City: Dallas

Net worth: $2.5 billion

Source of wealth: Oil

Wealth Nugget: He’s the son of legendary wildcatter H.L. Hunt.

344 (tie). Edward Bass

City: Fort Worth

Net worth: $2.4 billion

Source of wealth: Oil, investments

Wealth Nugget: This year, he gave $160 million to Yale to refurbish the Peabody Museum.

354 (tie). Thai Lee

City: Austin

Net worth: $2.3 billion

Source of wealth: Information technology, CEO of SHI Technology

Wealth Nugget: She was born in Bangkok, grew up in South Korea and moved to the United States for high school.

354 (tie). Drayton McLane Jr.
City: Houston

Net worth: $2.3 billion

Source of wealth: Walmart, logistics, former owner of Houston Astros

Wealth Nugget: He turned his family’s grocery distribution company McLane Co. into an international firm before selling it to Walmart.

354 (tie). Ross Perot Jr.
City: Dallas

Net worth: $2.3 billion

Source of wealth: Real estate

Wealth Nugget: He is teaming up with architect Norman Foster on a Dallas skyscraper.

383 (tie). Leslie Alexander
City: Houston

Net worth: $2.1 billion

Source of wealth: Real estate, former NBA franchise owner

Wealth Nugget: He first appeared on the Forbes 400 in 2006. He sold the Houston Rockets to Tilman Fertitta for $2.2 billion last year.

 


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