But the year-old son of famed wildcatter H. Hunt, inspiration of J. Ewing and half-brother of fellow list member Ray Lee Hunt, has stuck it out in the oil business.
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Butt is majority shareholder; 2 siblings and 2 nephews own stakes in company as well. Most of his money is held in publicly traded conglomerate Valhi. Today its parent, Energy Transfer Equity, owns more than 71, miles of natural gas and crude oil pipelines. Shampoo and tequila entrepreneur John Paul DeJoria is going prime-time. Other profitable exits include Burger King and J. Richard Rainwater has been battling a rare neurodegenerative disease since The legendary Fort Worth dealmaker has been a friend and mentor to tycoons like Eddie Lampert, David Bonderman, Ken Hersh and the Bass brothers, but his struggle with progressive supranuclear palsy has limited his investment capacity.
You need a big balance sheet to invest in LNG. That's something Ray Lee Hunt, son of legendary wildcatter H. Hunt, has been building for 40 years. The company, co-founded and run by Kinder, owns 82, miles of pipelines and storage terminals. His father, Dan Duncan, formerly the richest man in Houston, died in at age Dan grew up poor and formed Enterprise Products with two trucks inselling door to door. Banker Andrew Beal built a fortune buying distressed assets.
Robert, 59, has diversified mightily. In the financial crisis he bought bonds backed by commercial planes, IOUs to power plants. The company, overseen by sons Bruce and Doug, maintains oil and gas holdings across the country as well as a refinery in Baton Rouge.
He owns Omni Hotels, growing fast with nearly 20, rooms at 60 locations. Often mistaken for Parkinson's disease, Rainwater's ailment strikes just 6 people inDavis in ; bought struggling gas assets and linked them into efficient system.
She inherited it from her husband E. Pierce Marshall d. There's oil there, but the geology is too tricky to justify going after it -- contributing to Rees-Jones' slightly lower net worth this year. But the so-called "Miss Lime" didn't pan out as hoped. A s wizard, Beal is a legendary poker player who once walked into a Las Vegas casino and challenged some of the best poker players in the world to some of the highest-stakes games ever played.
Through Providence Minerals, acquired inhe controls millions of oil-and-gas acres across the country including many with new shale discoveries. She was elected in February as non-executive Chairman of the Board of energy pipeline company Enterprise Products Partners, founded by her father.
As if we needed any confirmation that Texas is far more than just an oil and gas state, only half of these richest Texans owe their fortunes to Texas Tea. My Forbes colleagues and I are always on the hunt for new billionaires to celebrate, in Texas and all over.
Williams is the most publicly active of her siblings. Jones has funneled his Cowboys dough into retail and residential real estate developments around Dallas, generating further return on his investments.
Randa Duncan Williams, 52, is the eldest of four children of the late pipeline entrepreneur Dan Duncan. Back in the oilfields, Hilcorp is busy investing hundreds of millions a year in Alaska's Cook Inlet. Most know Ross Perot as a two-time candidate for president, but that adventure was at the end of a long and colorful career. This son of a cotton broker from Texarkana met an IBM tech while in the Navy, became a salesman at Big Blue, then quit when they wouldn't give him more computers to sell after he hit his annual quota by March.
If you have some suspects we should look into drop me a line at chelman forbes.
Simmons Comprehensive Cancer Center. More recently his Contran took fabricated wire product maker Keystone Consolidated Industries private. Kinder Morgan Energy Partners is thriving and expanding amid the rising demand for natural gas - and throwing off fat payouts.
Upon learning that he'd missed the Forbes cut mostly due to soured investments in wind farmsT. Boone took it well. Not bad for the small-town Bentonville, Ark. Some pieces she donated from her personal collection which is valued in the hundreds of millions of dollars. Robert, 65, is also chairman of private jet start-up Aerion, which seeks to build the first supersonic business jet. He's also big in the Utica shale of Ohio and the Gulf Coast region.
In it acquired El Paso Corp. His net worth has climbed over past year as profits at Beal Bank in Texas doubled, and he's been on a crusade this year to get big banks to buy back billions in bad loans they sold during the housing boom.
Father Reese made a fortune in oil and gas with Tana Petroleum. A horse-lover, Hildebrand has built a polo field on his ranch in Aspen. Rowling also owns the Golds Gym chain. Not to worry. Trevor Rees-Jones and partners had leasedacres there.
He tweeted: "Don't worry. Warren, a music fan, produces albums for singer-songwriters at his Austin-based studio, Music Road Records.
Omni is the largest hotel chain not to offer in-room adult movies. Today the company sells more than 2 million cases a year.
A year ago the Mississippi Limestone play of Kansas and Oklahoma looked like the big new thing. Inher father founded the pipeline empire that now owns nearly 51, miles of natural gas, oil and petrochemical pipelines as well as 14 billion cubic feet of natural gas storage capacity. Terrorist attacks have impaired the value of Hunt Oil's stake in a liquefied natural gas project in Yemen, but Hunt's similar LNG project in Peru is going well. John Arnold shocked the hedge fund world in May of when he announced that he was calling it a career at age Robert and his brothers inherited a fortune from their oil tycoon uncle Sid Richardson four decades ago and have been building on it ever since, working with investing talent from the likes of Richard Rainwater and David Bonderman.
In he founded Electronic Data Systems and ushered in the computer age building government and corporate I. Perot still comes to the office everyday in suit and tie, often helping Dell's sales team close a deal. The year-old founder of Hilcorp Energy reportedly refused to open the shop until he was convinced they had the best donuts in town they are pretty good. Wal-Mart heiress Alice Walton's Crystal Bridges Museum of American Art -- which she founded in -- has eclipsed 1 million visitors in under two years of operation.
Milane Frantz, 44, is one of four siblings who are heirs to their late father Dan Duncan's energy pipeline empire. Forbes reporter Clare O'Connor just got an exclusive look inside her world. Come on Houston, let's beat Dallas next year. College dropout opened first branch of Beal Bank in Texas in and added Nevada-based bank years later. After quitting as Enron president inthe Date a millionaire woman Odessa founded what is now the largest U.
A former Army captain, Kinder earned both bachelor and law degrees from the University of Missouri.
That's more than any other state except California and New York. Hildebrand left a petroleum engineering job at ExxonMobil in and ed with partners to start buying up proven oilfields that were too small for the supermajors -- then applying new technology to squeeze out profits.
Howard's financial maneuvers before his death in The judge was not impressed with tactics used by E. Pierce in an attempt to cut Smith out of his father's estate. The Texan, who started the PC maker in his dorm room 29 years ago and remains Chairman and CEO, believes pulling out of the public markets will help Dell shift from a struggling personal computer business into a business software giant. Butt Grocery of Texas, founded by his grandmother in Started as a bag boy at age 8.
DeJoria's philanthropy includes teaching people how to farm their own food through his charity, GrowAppalachia.
Daughter of retail visionary Sam d. Also gone is natural gas pioneer George Mitchell, who passed away this year.
The dealmaker now 71 attended U. He later studied Islamic law in Cairo. After 10 years of building Hilcorp into one of the world's biggest privately owned oil companies, Jeff Hildebrand dared to branch out this year -- by opening a donut shop near his home in Houston's tony River Oaks.
Hunt Consolidated owns hotels and real estate around Dallas including the iconic Reunion Tower, acres of ranches across the West, and oil and gas fields worldwide including a big find in Iraqi Kurdistan. In he created tequila distiller Patron Spirits as a hobby with Martin Crowley d. The one-time bankruptcy attorney turned shale-gas legend is now staffing up in the Marcellus shale gas for the third time.
Duncan, formerly the richest man in Houston, died in at Scott Duncan is one of four siblings who are heirs to the energy-pipeline fortune built by their late father Dan Duncan.