![]() College dropout opened first branch of Beal Bank in Texas in 1988 and added Nevada-based bank years later. 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. In the 2009 financial crisis he bought bonds backed by commercial planes, IOUs to power plants. A certified pilot, Simmons enjoys watching the NFL's Dallas Cowboys with team owner and fellow Dallas resident Jerry Jones.īanker Andrew Beal built a fortune buying distressed assets. The University of Texas graduate has given $177 million to date to UT Southwestern and established the Harold C. A decade later, he sold his business to Eckerd Corporation for $50 million in 1973. He started as a bank examiner and bought drugstore with $5,000 cash and $95,000 loan. ![]() A big backer of conservative causes, Simmons gave more than $25 million to Republican super PACs during the 2012 presidential election. Most of his money is held in publicly traded conglomerate Valhi. More recently his Contran took fabricated wire product maker Keystone Consolidated Industries private. Kinder chairs the board of Trustees of the Museum of Fine Arts in Houston.īuyout investor Simmons sold his Titanium Metals in January, pocketing more than $1 billion. His Kinder Foundation has $75 million in assets and funds education and quality of life in Houston. A former Army captain, Kinder earned both bachelor and law degrees from the University of Missouri. pipeline company with friend William Morgan a year later. After quitting as Enron president in 1996, the Texan founded what is now the largest U.S. His net worth is up $800 million from a year ago due to an uptick in Kinder Morgan's share price (he owns a 23% stake) and combined quarterly payouts worth more than $200 million. for some $38 billion and in May 2013 purchased Copano Energy for $5 billion. The company, co-founded and run by Kinder, owns 82,000 miles of pipelines and 180 storage terminals. Kinder Morgan Energy Partners is thriving and expanding amid the rising demand for natural gas - and throwing off fat payouts. In January 2013, the foundation said it will donate $50 million to the University of Texas to build its new medical school, which will be named after Dell. On the charitable front, the Michael & Susan Dell Foundation has committed more than $900 million to eradicating urban poverty and improving child health. Today the bulk of Dell's own fortune is tied up in his investment firm MSD Capital its $12 billion portfolio includes banking, property, dental practices and landscaping companies. 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. (Forbes reporter Clare O'Connor just got an exclusive look inside her world.)Īfter months locked in battle with activist investor Carl Icahn, PC entrepreneur Michael Dell won shareholder approval of his final $24.9 billion offer to take his eponymous company private in what will be the biggest leveraged buy-out in recent years. Since last year, she received more than $350 million in Wal-Mart dividends after taxes. ![]() 1992), Alice graduated from Trinity College in San Antonio, Tex., and now spends most of her time on the Rocking W Ranch in Milsap, outside of Fort Worth. She and her siblings have also donated about $2 billion to the Walton Family Foundation over the last five years. As the biggest philanthropist of the Walton family, Alice gave more than $2 million in 2012 to support charter school initiatives. Some pieces she donated from her personal collection (which is valued in the hundreds of millions of dollars). Not bad for the small-town Bentonville, Ark., museum, which includes works spanning five centuries from icons like Andy Warhol, Norman Rockwell and Georgia O'Keeffe. Wal-Mart heiress Alice Walton's Crystal Bridges Museum of American Art - which she founded in 2011 - has eclipsed 1 million visitors in under two years of operation. If you have some suspects we should look into drop me a line at (Come on Houston, let's beat Dallas next year.) My Forbes colleagues and I are always on the hunt for new billionaires to celebrate, in Texas and all over. 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.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |