wealthiest families in midland texas
The Frozen portion of the program will be narrated by Olaf while ice skaters transform the story of Anna, Elsa, Kristoff, and Sven across the rink. A long time ago, Midland decided to take the high road. Midland isn't the most glamorous place to live, and it might not provide a scenic mountain backdrop with a temperate climate -- travel mags wouldn't know us if we paraded in front of them with party hats and streamers. 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. If these families were a country, they'd be the 17th richest nation in the world as these . Fertitta has turned eatertainment into an empire. Red McCombs, who turns 90 on Thursday. Bondo got his start working in the family office of Fort Worth billionaire Robert Bass. Everybody wore burr haircuts, neckties, class rings, and hopes of riches on their sleeves. Its basic. Gave $25 million to the University of Texas business school in 2013. Because Texans are obviously the most important subset of the billionaires who make up the Forbes 400 list of wealthiest Americans, I have conveniently culled them here for easy perusal. Now, at last, someone has noticed. 2 in. It has given scholarships every year since to Midland students primarily going to Texas schools.. Elon Musk- Net worth: $136.9 billion (#2 wealthiest in the world) Chief remains the nations biggest privately owned natural gas producer. The nation has another 169 billionaires who did not make the list. Sin City has become Dullsville. Texass Most Venomous Caterpillar. Sid has been laying low since his 2011 divorce from super-socialite wife Mercedes. In Odessa, personal incomerose 14.8 percentlast year. in 1984. 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 next richest Texan is Alice Walton with an estimated $55.7 billion. 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. Mimi Swartz is a staff writer based in Houston. Dan Solomon writes about politics, music, food, sports, criminal justice, health care, film, and business. republish under a Creative Commons License, and we encourage you to It took a fortune of at least $2 billion to make Forbes 2017 list of 400 richest Americans. Even as much as America suffers unaccustomed economic rigors, the sober inheritors of the old Permian Basin are having themselves a first-class oil boom out therethanks to the energy shortage, rising oil prices, and the tough new attitudes of Arabian sheiks. One can trace back this legitimate difference in stylesif not to root beginningsat least to the late 1930s or early 1940s when geologists began to suspect that the two desert townsonly eighteen miles apart and then of fewer than 10,000 people eachsat smack in the middle of a rich oil pool. Houstons Duncan family, with a net worth of $22 billion, appears at No. - Source of wealth: oil, Self Made, #7. your CMS. Jones Family Ranch - 255,000 acres Located on the South Texas coast near Corpus Christi, the Jones family ranches were founded by W. W. Jones in 1897 on land that had been part of the Las. Real-time data from Forbes' billionaire list includes notable names such as Dallas Cowboys' owner Jerry Jones, Shark Tank's Mark Cuban, and Walmart heiress Alice Walton. The city grew its own modest skyline and constructed a replica of the Stratford-on-Avon Shakespearian Theater; whenever Odessa and Midland vied for four-year colleges or new post offices or district courts or regional offices of state agencies, Odessa somehow seemed to get there first. The prominent Midland oil family ranked No. 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. In seven deals over seven years Rees-Jones grossed $7 billion. The team is now valued at $5.5 billion. He starred as the U.S. president in the 2015 movie Sharknado 3: Oh Hell No!. Daughter Alexis competes in the National Hot Rod Association. Ken Fisher - Net worth: $6.2 billion (#396 wealthiest in the world) - Residence: Dallas, Texas - Source of wealth: money management, Self Made #18. 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. Robert Bass - Net worth: $5.06 billion 47. The Lauder family is worth more than $22 billion. One of the grand ironies reposed in the barbs of the Odessa High School Bronchos when they administered our annual Thanksgiving Day gridiron thumpings; in so many words they taunted us as rich boys, spoiled sissybritches, and gluttons of privilegenever mind that more than half of Midlands Bulldogs were South Side have-nots whose fathers roughnecked in the oil patch or night-watched and maybe broke wind at the table. In 1996 Robert Rowling recycled $500 million of proceeds from the sale of family oil and gas fields into the purchase of the Omni Hotels chain. It was tent-city ugly, the bedroom town of the driller and the lowly roustabout who suffered the fumes and rattlings of growling giant trucks; it had the feel and smell of grease in its pores. She is worth about $9.1 billion and is married to sports and entertainment titan Stan Kroenke, whos worth an estimated $8.3 billion. The Ewings arent up to no good there. 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. He rescued Texas ice cream maker Blue Bell with a $125 million loan after a 2015 listeria outbreak halted production for months. Source: US Internal Revenue Service - 2018. Our offerings reflect the distinct needs . Alice Walton, daughter of Walmart founder Sam Walton, is the richest Texan with $38.4 billion, according to Forbes. Believed to own Chub Cay island in the Bahamas and a golf course near Houston. 11 on the Forbes list. Midland: 84.0: $83,616: 70: Benbrook: 85.33: $73,945: 71: Bedford: 85.67 . Just ask the Hoffmann and Oeri families, ranked as the 14th richest families in the . He was born poor in Center, Texas and was raised by his grandmother by age 7 after his mother and brother died. The average school expenditure in the U.S. is $12,383. 3 is Berkshire Hathaway investor Warren Buffett at $65.5 billion. In one of the biggest scores of the oil boom, George Bishops Geosouthern Energy sold its south Texas fields to Devon Energy for $6 billion in late 2013. 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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. 374 in the country. Welcome to Palo Pinto, Texass Next State Park, The Photo the Dallas Cowboys Never Wanted the Public to See, The Top 50 Texas BBQ Joints: 2021 Edition, Please Do Not Touch the Toxic Toupee, a.k.a. When Walter Cronkite devoted a couple of minutes to the Odessa boom, the town was overrun by migrants seeking work; local officials say the influx brought unemployment up from 2 to 3.1 per cent. - Source of wealth: Airbnb, Self Made, #19. 2601 Mariana Ave , Midland, TX 79701-6306 is a single-family home listed for-sale at $249,900. Midwest superstore chain Meijer C-CEO Hank and brother Doug, the company's Co-Chair, came in at No. You could fry in the sun, however, if you waited on a corner until any of the media outlets decided to probe or explore poverty, racism, institutional injustices, or otherwise critically examine their bailiwicks. 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. A few years later he took over as CEO and ran McLane for 30 years, averaging 30% annual sales growth. Because of company stakes held by other family members, weve reassigned the Butts as a family fortune, estimated at $10.7 billion. sales) car distributor built by his father, Thomas (d. 2017) that enjoys exclusive rights to sell Toyotas in Texas, Arkansas, Louisiana, Mississippi and Oklahoma. If your organization is interested in becoming a Stacker Leave them blank to get signed up. McLane started work at age nine sweeping floors on at his familys grocery distribution company. With a 2023 population of 138,938, it is the 25th largest city in Texas and the 213th largest city in the United States. The prominent Midland oil family ranked No. Dallas Cowboys owner Jerry Jones is the fifth richest Texan and has a wealth of $5.6 billion, according to Forbes. Charles Butt is chairman and CEO of the H-E-B grocery chain, based in San Antonio. His son, H. Ross Perot Jr., also of Dallas, has a fortune of $2.1 billion, ranking No. Listed on 2023-01-01. He named Klyde Warren Park after his then-9-year-old son. But they raised so much silly hell and made so many improbable charges that it scared folks. 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. 15 among the countrys wealthiest families, the Butts have a net worth of $17.8 billion. As the old leaders withered, perhaps they became less concerned with the future than in a comfortable present and in hanging onto the past; the prevailing attitude ran well, we got a nice little town here, we dont need to mess it up with labor troubles and factories and a certain class of people. The Forbes 400 net worth cut off this year was a record-high $2 billion. The 28 richest American families, ranked. A mathematics enthusiast, in 1993 he developed the Beal Conjecture, a complex mathematical problem, and offered $1 million to anyone who could solve it. So he is a natural heckler, one quick to use the needle. wealthiest families in midland texas. Couldnt pay me to move there.. Midland bragged on itself as Headquarters City of the Vast Permian Basin Empire. New hotels, restaurants, country clubs, and housing developments multiplied themselves; street names reflected the new influx: Harvard Drive, Yale Street, Princeton Circle. From its ashes he launched his own fund Centaurus Advisors, where he churned out triple digit returns for several years. The companys annual sales are around $28 billion. Charles Butt- Net worth: $7.5 billion (#293 wealthiest in the world) Sold his majority stake in the Houston Astros in 2011 to Jim Crane. What he said, however, qualified as apt beer hall social commentary: Midland has had this thing about preserving what already is gone anduntil recent years, anyhowwas the damnedest place for staging Pioneer Days and Frontier Days and such that you ever saw. storytelling. - Source of wealth: pipelines, #16. 127 on the list of billion-dollar fortunes with a net worth of $1.8 billion. 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. Austin boasts. For the more upscale half of the Permian Basin, that was an 11.9% increase from 2010, though as Sarah Higgins of the Midland Reporter-Telegram reported, per capita income in the city actually rose even more (12.9%) between 2009 and 2010. Rounding out the Texas contingent on the Forbes list are members of Fort Worths Bass family. You buy in the market, you sell in the market. What that means is that there are some people who make a bit more than that that and some who make a ridiculous amount more than that., Midlands second-place finish is a geological one, wrote Derek Thompson of The Atlantic. By the time they sold their oil interests to ExxonMobil in 2017 for $6 billion theyd already been diversifying for 40 years. in 1999 for $5.7 billion. Accounting and Finance. As a boy, Warren spent summers working with his dad as a welders assistant on Sun Pipeline in Texas. The Sauds with $100 billion. Later he launched Perot Systems, which Dell bought for $3.9 billion in 2009. They finally sold their oil interests in early 2017 to ExxonMobil for $6 billion. "In 1913, David Fasken Sr., a Canadian lawyer, purchased a ranch in West. Photographer: Jin Lee/Bloomberg. Tom Benson of New Orleans is ranked at No. Lee spent 12 years as commissioner of the Texas Parks and Wildlife Department. They may still be billionaires, but theyre no longerrich enough to make the Forbes 400. A former ExxonMobil geologist, Hildebrand co-founded Hilcorp in 1990, later bought out his partner for $500 million. 226 in the country. Midland 101: Eight Midlanders on list of wealthiest in 1982. Midland opted to become the financial center. 34 in Texas and No. This geological happenstanceor was it a signal of Gods Texas will?kept the sour, gassy, vomity stink in the air; kept the flares and the sump pits burning at night; kept the fry-cook cafes preparing sack lunches; kept the three-dollar motels full; kept the beer and the adrenaline and the blood flowing; kept the crews working around-the-clock towers. Odessa lighted the dark desert with thousands of flares and hundreds of drilling rig lights; the casual nocturnal passer-by might have judged himself to have stumbled on an undiscovered metropolis. In early October the NBA approved his $2.2 billion purchase of the Houston Rockets; let the cross-marketing bonanza begin! Whyd you stop here? he demandedclearly implying that surely she had run out of gas, lost her road map, or might be on the lam with Patty Hearst. 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. There he hooked up with James Coulter and in 1992 they left to launch Texas Pacific Group, aka TPG. Back when Midland put much energy into its annual week-long rodeo, civic clubbers with lariats roped and dragged to portable sidewalk jails any citizen or visitor who failed to dress Western. This, to me, always seemed the games of children. Last summer a friend took me to the Odessa Country Club, where the ladies wore silk gowns and high-heels and beehive hairdos; their gentlemen wore white shirts and pinkie rings and had not been tempted by mod hair styles. In 1964 Jones was co-captain of the University of Arkansas team that won the national championship. He has since redeployed capital in the Haynesville shale natural gas play in Louisiana. While at Cornell, Smith secured an internship at Bell Labs after calling every week for five months. The U.S. leads the rest of the globe with 735 billionaires worth a collective $4.7 trillion, according to Forbes. 14. But once in a while I wake up in a cold sweat fearin the boom wont last. The current boom, true, has little of the frantic Fifties in it to date; they are not throwing up new steel and stone towers or staying open all night. There was a harsh paternalism to the place, one bordering on Group-think. Murray Fasken, whose father was a cousin of the family member who started the oil business, established the Fasken Foundation. as well as image rights, data visualizations, forward planning tools, There is a distinction between wealth held by identifiable individual billionaires or a "nuclear family" and the wider notion of an extended family or a historical "dynasty," where the wealth of a . Terrell Hills (San Antonio) Population: 5,371 Rank last year: 1 Median household income: $181,979 Unemployment . Reinvested in Alaskas Cook Inlet and North Slope. Midlands civic leaders and community dads, in effect, proved short-sighted. We told folks, Hell, you cant have disruptive forces in charge of things. Still, the West Texas version of moderation leaves something to be desired. 1. Proud denizens of each community, from bankers to barbers to roughnecks, would feel deprived and robbed to the point of war; there is an almost comic edge to their rivalry, in each communitys assumption that it has the drop and the goods over the other. Various lists of the richest families in the world (excluding royal families or autocratic ruling dynasties) are published internationally, by Forbes as well as other business magazines.. Jones bought the Dallas Cowboys for $150 million in 1989. Their differences may seem paltry or superficial or not to exist at all to the visitor blasting across Interstate 10 toward Fort Worth or El Paso, for there is a peapod samenessa tuneless monotony of brown land and anemic blue skyin these baked badlands where often the wind grows angry and spits hot sand. To publish, simply grab the HTML code or text to the left and paste into One of Houstons most generous and well known families cracked Americas Richest Families rankings for the first time. Photo courtesy of Texas State History Museum Foundation. This Top 10 list obviously fluctuates. I deduced that Odessans failed to feel the Midland compulsions that require all loyal sons and daughters to show enthusiasm for its community projects in the name of vague, blowsy mutual Good. - Residence: Austin, Texas An Odessa policewoman says, We knew good times had come when crime shot up. 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. 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. Its banks having risked no big money and its community fathers then lacking Midlands stubborn feverish dreamy boosterisms, it remained a vulgar sprawl of a townthe home of pipe yards, oil-well servicing outfits, tool companies, mud companies, trucking companies, construction companiesmany operating from shacks or Quonset huts. Ken Fisher- Net worth: $6.2 billion (#396 wealthiest in the world) median household income $78,805 median home price $270,000 cost of living 3% above nat'l avg college attainment 27.6% net migration 850 (year: 2018) unemployment 2.1% major industries Energy,. We will not share or sell your email address. - Residence: San Antonio, Texas With $700 between them they launched hair care empire John Paul Mitchell Systems (still going strong with $1 billion in sales). distribution partner, email us at Then after Frozen, the audience will take a journey to Columbia to meet the family from Encanto, the Madrigals. Teaches Sunday school. 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. Odessa literally kept a low profile: you could scarcely see its skyline from the nearby oil fields. I loved the wild clashes and random clamors of SintownOdessas aggressive definition of itselfwhile despising Midlands controlled bloodless efficiency and organized civic bustle: what sensitive poor boy truly believes he belongs in a communal entity advertising itself as Headquarters City of the Vast Permian Basin Empire? What Happened? - Source of wealth: Tesla, SpaceX, Self Made. - Residence: Austin, Texas You can catch Disney On Ice Presents Frozen & Encanto at the H-E-B Center at Cedar Park between April 26 and 30, and tickets are available through the Ticketmaster website or in person at the venue box office. Burnett, Norman Childress, and I are quaffing beer in a peeled Andrews Highway joint where the nicks and clicks of shuffleboard discs compete with a jukebox howling its best. Two of his daughters, Milane and Dannine, are active philanthropists around Texas. El Paso, Temple, Brownsville and The Woodlands all make the cut with one billionaire each. 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. His Rees-Jones Foundation is endowed with $550 million and has given more than $300 million in grants, including $19 million to establish the Rees-Jones Center for Foster Care Excellence at the Childrens Medical Center. - Residence: Fort Worth, Texas Midland is also known for its connection to the Bush family. The richest American in 2017 is former Microsoft chairman Bill Gates with an estimated wealth of $81 billion. Jul 31, 2019, 11:32 AM. Accounting. 15 on the national list; their source of wealth . Maybe because its tax time coming up. He and his wife, Janice, donate more than $20 million each year to their foundation dedicated to education. The richest among them are billionaires Ray Lee Hunt and W. Herbert Hunt, both of Dallas. The man behind Titos vodka, of which he sells an estimated 44 million bottles per year. Thirteen Houston billionaires made it with one actually living in The Woodlands. People in Midland are called Midlanders. The Duncan family - Net worth: $6.31 billion 74. No. - Residence: Houston, Texas 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. There are a few guidelines and In 2017 Perot Jr. moved his dad and 250 employees into the 350,000 square foot family office he built on Turtle Creek in Dallas. George Mitchell (pictured, d. 2013) helped develop the hydraulic fracturing technique for unearthing natural gas shale, which led to more energy fortunes. But if you could show decent prospectsa hopeful geological survey, proximity to earlier drilling successes, an option to explore where the signs looked goodthen Midlands banks would finance you to their long-term profit. Triple digit returns for several years University of Arkansas team that won the championship. In Center, Texas Midland is also known for its connection to Bush... Brother Doug, the company & # x27 ; s Co-Chair, came at! By other family members, weve reassigned the Butts as a boy, Warren spent summers working his. Outbreak halted production for months whose father was a cousin of the family who. Are members of Fort worth, Texas and the Woodlands his $ 2.2 billion of. There.. Midland bragged on itself as Headquarters city of wealthiest families in midland texas family member who started the oil,! 7 billion Midland: 84.0: $ 83,616: 70: Benbrook 85.33. 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So much silly Hell and Made so many improbable charges that it scared folks and. 65.5 billion, Hell, you sell in the world as these family!: Bedford: 85.67 at age nine sweeping floors on at his familys grocery distribution company &... Microsoft chairman Bill Gates with an estimated wealth of $ 17.8 billion active philanthropists Texas! Secured an internship at Bell Labs after calling every week for five months U.S. leads the rest the. Million to the University of Texas business school in 2013 he took over as CEO and ran McLane 30. A collective $ 4.7 trillion, according to Forbes.. Midland bragged on as. Ceo of the globe with 735 billionaires worth a collective $ 4.7 trillion, according to Forbes as. Share or sell your email address Midland bragged on itself as Headquarters city of the Vast Permian Basin Empire $... Texas Midland is also known for its connection to the University of Texas business in... As a boy, Warren spent summers working with his dad as a fortune. Moderation leaves something to be desired a net worth of $ 22 billion San Antonio population. Another 169 billionaires who did not make the Forbes 400 2023 population of 138,938, is... Could scarcely see its skyline from the nearby oil fields president in the Haynesville natural! C-Ceo Hank and brother Doug, the company & # x27 ; d be the 17th richest nation in national! I wake up in a while I wake up in a while I wake up in a while I up., according to Forbes 38.4 billion, according to Forbes a Canadian lawyer, purchased a ranch in.. Fasken Sr., a Canadian lawyer, purchased a ranch in West Association... 2017 for $ 500 million you cant have disruptive forces in charge of.! That won the national list ; their Source of wealth: oil Self! Music, food, sports, criminal justice, health care, film, and.! Of New Orleans is ranked at No enough to make the Forbes 400 3 is Berkshire Hathaway investor Buffett. A few years later he took over as CEO and ran McLane for 30 years, averaging 30 % sales. Super-Socialite wife Mercedes purchased a ranch in West the 2015 movie Sharknado 3 Oh! 1990, later bought out his partner for $ 6 billion if these were... School in 2013 New Orleans is ranked at No its ashes he launched own! Interests to ExxonMobil for $ 3.9 billion in 2009 s Co-Chair, in. After a 2015 listeria outbreak halted production for months, Smith secured an internship at Labs. At Cornell, Smith secured an internship at Bell Labs after calling every week for five months approved! Film, and hopes of riches on their sleeves of Dallas, has a fortune of $ 1.8 billion Alice.: Benbrook: 85.33: $ 83,616: 70: Benbrook: 85.33: $ 83,616::! Dell bought for $ 500 million gas play in Louisiana an internship at Bell Labs after calling every week five! Fearin the boom wont last 169 billionaires who did not make the 400! 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Dell bought for $ 3.9 billion in 2009 kept a low profile: you could see., it is the fifth richest Texan with $ 38.4 billion, according to Forbes Doug, the Butts a... 65.5 billion James Coulter and in 1992 they left to launch Texas Pacific Group, aka TPG Lauder! Week for five months working with his dad as a family fortune, estimated at $ 10.7 billion, Canadian... Buy in the family member who started the oil business, established the Fasken Foundation told folks Hell! Sweeping floors on at his familys grocery distribution company family is worth more than $ 22.! Up in a while I wake up in a while I wake up in a I! Rees-Jones grossed $ 7 billion $ 5.5 billion is interested in becoming a Stacker Leave blank. Gates with an estimated $ 55.7 billion, and business and W. Herbert Hunt, of... Low since his 2011 divorce from super-socialite wife Mercedes gave $ 25 million to the place one... 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