Forbes 400, 2017Jamel Toppin
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.
Fun fact for your next cocktail party: the newest Texan to join the Forbes 400 ranksis Bert "Tito" Beveridge, founder of Tito's vodka. The 55-year-old entrepreneur will sell close to 60 million bottles this year, enough to earn him an estimated net worth of $2.5 billion.
Overall, America's rich just keep getting richer -- thanks in large part to Internet Bubble 2.0. The Forbes 400net worth cut off this year was a record-high $2 billion. In Texas, low oil prices have flatlined the growth in some fortunes, like that of San Antonio natural gas tycoon Rod Lewis and business legend Red McCombs.They may still be billionaires, but they're no longerrich enough to make the Forbes 400.Another conspicuous absence from this Texas rich list is Charles Butt, the scion of the family behind the beloved HEB supermarket chain. Because of company stakes held by other family members, we've reassigned the Butts as a family fortune, estimated at $10.7 billion.
There's certainly plenty of Texans whohave deep enough moneybags to be in the Forbes 400 but don't showup yetbecause our intrepid reporters (including Noah Kirsch, Michela Tindera,Max Jedeur-Palmgren,Igor Bosilkovski,Yinan Che,Deniz Cam andAndrea Murphy) haven't yet nailed down the numbersbeyond a reasonable doubt. If you have a secret billionaire dossier you want to share, drop me a line at firstname.lastname@example.org.
1. Alice Walton
The Richest Woman In The Worldis the only daughter of Wal-Mart founder Sam Walton. Rather than working in the family company with brothers Rob and Jim, she went into investment banking before leaving to pursue her passions for art and horses, and decamped to her ranch in Millsap (pop. 409), an hour west of Fort Worth. Driven to bring world-class art to Arkansas, in 2011 she opened Crystal Bridges museum in Bentonville. It features works by the likes of Warhol, Rothko and Norman Rockwell. Brother John died in a 2005 plane crash. The extended Walton family still own more than half of Wal-Mart.
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. Last year Dell managed a coup when he merged his privately-held Denali with publicly-traded EMC Storage in an estimated $60 billion deal. Dell now owns 66% of Dell Technologies, but the majority of his fortune is in his private investment firm MSD Capital, which has stakes in hotels like the Four Seasons Maui and Applebee's and IHOP chain operater DineEquity. In May Dell donated $1 billion to his nonprofit the Michael and Susan Dell Foundation, and following Hurricane Harvey in August, the Houston native pledged $36 million to fund area relief efforts.
Growing up, one of his first jobs was fixing broken TVs. Beal attended both Michigan State University and Baylor University, but dropped out of both. He was busy building his first fortune in real estate, buying up apartment buildings. The Texas banker also made a tidy sum during the Great Recession, buying distressed assets while the nation's biggest banks were getting taxpayer bailouts. In recent years he's been investing in oil. A mathematics enthusiast, in 1993 he developed the Beal Conjecture, a complex mathematical problem, and offered $1 million to anyone who could solve it. (No one has yet.)
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After stepping down as president of Enron, Kindercofounded pipeline giant Kinder Morgan in 1997. 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. The oil downturn hit the company hard; in 2015 it slashed its dividend 75%. Now removed from the day-to-day action, Kinder is focused on giving it away. The Kinder Foundation has donated tens of millions of dollars to build parks along Houston’s network of bayous and new buildings for the Museum of Fine Art. 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.”
Jones at Mile High stadium Denver. September 17, 2017. (Photo by Matthew Stockman/Getty Images)
Jones bought the Dallas Cowboys for $150 million in 1989. It’s now worth $4.2 billion — and has ranked as the most valuable NFL team for the past 11 years. In 1964 Jones was co-captain of the University of Arkansas team that won the national championship. He also invests in oil and real estate and collects art, such as his prized “Coin Toss” by Norman Rockwell, acquired for $1.1 million the same year he bought the Cowboys.
Thanks to a temporary repeal of the death tax, when pipeline tycoon Dan Duncan died in 2010 at 77 he became the first American billionaire to pass his fortune to his four kids tax free. Randa Williams is non-executive chairman of Enterprise Products, which owns 50,000 miles of pipeline, market cap $56 billion.
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. Since then he has more than doubled the chain to 60 locations and 21,000 rooms. More are on the way, with new projects in Boston, Louisville, Atlanta (in JV with the Braves) and near Dallas (with the Cowboys). In 2004 Rowling bought Gold's Gym, which Arnold Schwarzenegger made famous; now has more than 700 locations worldwide. A big Republican donor, Rowling would prefer to support a Pence/Rubio ticket in 2020. "Just tell the truth. It's basic." Gave $25 million to the University of Texas business school in 2013.
With his three brothers, Robert Bass inherited a small fortune from their oil tycoon uncle Sid Richardson (d. 1959) and built it into a big one. They finally sold their oil interests in early 2017 to ExxonMobil for $6 billion. Robert ventured off on his own in 1986, creating a family office that became Oak Hill Capital Partners. Offshoots from his family investment office include billionaire David Bonderman's Texas Pacific Group. In 1988 he sold the Plaza Hotel to Donald Trump for $390 million. Today, private jet start-up Aerion is the most high-profile investment by low-profile Robert. Working with Airbus, Aerion seeks to build the first supersonic business jets. Pricetag: $120 million. In 2012 he acquired a place in Manhattan's 834 Fifth Avenue for a reported $42 million. In 2013, with his wife Anne, he donated $50 million to Duke University to support interdisciplinary studies aimed at tackling complex societal problems. Has also donated $50 million to Stanford. Their foundation is endowed with more than $90 million.
12.Ray Lee Hunt
Richest child of legendary oil wildcatter H.L. Hunt. Through his Hunt Consolidated conglomerate, Ray Hunt owns oilfields in Texas, natural gas projects in Peru and Yemen, and was one of the first oilmen into Iraq after the fall of Saddam. 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. The Hunts tried and failed in 2016 to take over Texas power giant Oncor. Owns an estimated 190,000 acres of land across the west.
In 1984 bankruptcy attorney Trevor Rees-Jones decided that he wanted to be the guy making the deals, not the schlub cleaning up after them. He started with nothing in the oil business but became one of the biggest winners in the shale fracking revolution. He pioneered the Barnett shale in north Texas, then moved on to the Marcellus in Pennsylvania. In seven deals over seven years Rees-Jones grossed $7 billion. Chief remains the nation's biggest privately owned natural gas producer. 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. 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 Children's Medical Center. "There's got to be a higher purpose to serve in this life," he says.
The $3.8 billion Dakota Access Pipeline is only the latest addition to the Energy Transfer empire founded by Warren and Ray Davis in 1995. 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. As a boy, Warren spent summers working with his dad as a welder's assistant on Sun Pipeline in Texas. His fortune stems from stakes in three publicly traded companies; Energy Transfer Equity LP, Energy Transfer Partners LP and Sunoco LP. A music fan, Warren produces albums for singer-songwriters at his Austin, Texas studio, Music Road Records. With an estimated $10 million donation, Warren in 2012 won the naming rights to a new park in Dallas. He named Klyde Warren Park after his then-9-year-old son.
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15.H. Ross Perot
The Perots in 2017 moved their family office into new digs on Turtle Creek in Dallas. Perot insisted that his new office be made identical to his old one out at the former HQ of Perot Systems. 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. Long before his presidential campaigns (1992 and 1996), Perot was a salesman for IBM. He quit Big Blue when they wouldn't give him more computers to sell after he hit his annual quota by March. In 1962 he founded Electronic Data Systems, and netted about $1.5 billion selling it to G.M. in 1984. In 1986 he was a key investor in Steve Jobs' NEXT computer company. Later he launched Perot Systems, which Dell bought for $3.9 billion in 2009. Son of a cotton broker from Texarkana and graduate of the U.S. Naval Academy, Perot has long championed POW/MIA efforts; in 1978 he recruited military vets to rescue two EDS employees imprisoned in Iran, a saga recounted in Ken Follett's "On Wings of Eagles." "The world wants things done, not excuses," Perot told Forbes. "One thing done well is worth a million good excuses."
Owner of the NFL’s Houston Texans stepped up in the wake of Hurricane Harvey and pledged $1 million for relief efforts. McNair secured the NFL franchise for Houston for $700 million in 1999 and created the league's youngest expansion team. He sold his power generator company Cogen Technologies to Enron for $1.5 billion in 1999, and now invests in public and private equity. He and his wife, Janice, donate more than $20 million each year to their foundation dedicated to education. Called President Trump’s comments on NFL players kneeling “divisive and counterproductive.”
Friedkin owns Gulf States Toyota, the $8 billion (est. sales) car distributor built by his father, Thomas (d. 2017) that enjoys exclusive rights to sell Toyotas in Texas, Arkansas, Louisiana, Mississippi and Oklahoma. Also has invested in a film production studio that’s set to release its first movie, a story based on the kidnapping of oil heir J. Paul Getty III, later this year. 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.
A former ExxonMobil geologist, Hildebrand co-founded Hilcorp in 1990, later bought out his partner for $500 million.By specializing in squeezing more oil and gas out of mature fields, he has built Hilcorp into the nation's biggest privately owned oil company with operations in Texas, Louisiana, Alaska and Ohio. In 2011 and 2012 he netted about $3 billion selling oilfields and pipelines in south Texas. Reinvested in Alaska’s Cook Inlet and North Slope. In 2015 Hildebrand gave each of his 1,400 employees a $100,000 bonus after they doubled the size of his company in five years. This year he teamed with Carlyle Group to buy ConocoPhillips Colorado gas fields for $3 billion. Funded a $32 million equestrian center at Texas A&M.In Aspen, Colo. he owns a 1,000-acre ranch that used to belong to John Denver.With wife Mindy he opened Houston’s River Oaks Donuts.
Tilman Fertitta. Photographer: Jin Lee/Bloomberg
Fertitta has turned “eatertainment” into an empire. His Landry’s restaurant brands include Bubba Gump Shrimp, Saltgrass Steak House, and every parent’s animatronic gorilla nightmare: Rainforest Cafe. Fertitta also owns the Golden Nugget Casinos, the Bentley/Rolls dealership in Houston’s Galleria, and a couple of hotels down in Galveston, where he got his start working at dad’s seafood restaurant after school. In early October the NBA approved his $2.2 billion purchase of the Houston Rockets; let the cross-marketing bonanza begin! Did you know? Fertitta, a dropout from the University of Houston, is now president of its board of regents.
The end of an era came in early 2017 when the Bass brothers agreed to sell their oil company to Exxon Mobil for $6 billion. Sid negotiated the deal directly with CEO Rex Tillerson. Origin of the fortune was their uncle Sid Richardson, a legendary wildcatter. Over four decades they've 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. Sid has been laying low since his 2011 divorce from super-socialite wife Mercedes. In 2015 Sid reportedly bought actor Patrick Dempsey's estate in Malibu for $15 million. He rescued Texas ice cream maker Blue Bell with a $125 million loan after a 2015 listeria outbreak halted production for months.
The son of African-American Ph.D's, Smith as a boy in the early days of desegregation was bussed across town to go to school. While at Cornell, Smith secured an internship at Bell Labs after calling every week for five months. He went on to work at Kraft Foods and Goldman Sachs, then launched investment group Vista Equity Partners in 2000. With consistent double-digit annual returns, Vista has grown to $30 billion under management. Smith gave $50 million to Cornell and $20 million to the National Museum of African American History. Quote: “We are only bound by the limits of our own conviction. We can transcend the script of a pre-defined story, and pave the way for the future that we design. We just need to tap that power, that conviction, that determination within us.”
Mark Cuban stands during the National Anthem prior to a Mavs-Hawks game, October 12, 2017 in... [+] Atlanta, Georgia. (Photo by Kevin C. Cox/Getty Images)
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. 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. They sold the company to Yahoo! in 1999 for $5.7 billion. Cuban has since spent the last decade and a half doing just about anything he wants. He owns the Dallas Mavericks and has stakes in Landmark Theaters, Magnolia Pictures and AXS TV. He starred as the U.S. president in the 2015 movie "Sharknado 3: Oh Hell No!"
Arnold was a wunderkind natural gas trader who earned Enron $750 million the year before its collapse. From its ashes he launched his own fund Centaurus Advisors, where he churned out triple digit returns for several years. He shocked the hedge fund world upon announcing in 2012 at age 38 that he was retiring and cashing out. His net worth could be considerably higher than our conservative Forbes estimate. Arnold now focuses his brainpoweron strategic philanthropy, pushing much-needed, large-scale policy reform in criminal justice, public pensions and junk science. He and wife Laura have given $500 million to the Arnold Foundation.
24.John Paul DeJoria
In the 1970s DeJoria sold shampoo door-to-door and slept in his car. In 1980 he hooked up with Paul Mitchell. With $700 between them they launched hair care empire John Paul Mitchell Systems (still going strong with $1 billion in sales). In 1989 DeJoria and business partner Martin Crowley acquired a stake in boutique tequila maker Patrón and have grown it to sales of more than $800 million. DeJoria supports anti-poaching group Sea Shepherd Conservation Society, which in January named a new ship after DeJoria and Christened it with a bottle of Patron. Daughter Alexis competes in the National Hot Rod Association.
A classic vulture investor, Ford has long specialized in buying distressed banks and turning them around. Bought his first bank in 1975. In 2002 he had his first big score when he and billionaire friend Ron Perelman sold California’s Golden State Bancorp to Citigroup for $6 billion in stock. Ford has a 15% stake in publicly traded Hilltop Holdings, which owns PlainsCapital Bank and insurer National Lloyds Corp. He’s the majority shareholder of Mechanics Bank in California. Enjoys ranches in Kentucky and New Mexico, homes in Dallas and the Hamptons. Has donated $35 million to alma mater Southern Methodist University.
See Kelcy Warren above, with whom Davis first teamed in 1993 to build Cornerstone Natural Gas, which they sold to El Paso Natural Gas in 1996 before launching Energy Transfer. In 2010, Davis and XTO Energy founder Bob Simpson led a group of investors who backed Nolan Ryan to buy the Texas Rangers baseball team for $593 million. The team is now worth $1.55 billion by Forbes last count.
“Bondo” got his start working in the family office of Fort Worth billionaire Robert Bass. There he hooked up with James Coulter and in 1992 they left to launch Texas Pacific Group, aka TPG. In their first big deal they turned a $66 million bet on foundering Continental Airlines into a $640 million profit. Today TPG manages $73 billion. Bonderman still works out of Fort Worth while Coulter is based in San Francisco. He resigned from the board of Uber in June 2017 after offending fellow boardmember Arianna Huffington with comment implying that having more women on the board would lead to more talking. For his 60th birthday Bonderman hired the Rolling Stones and Robin Williams. For his 70th it was Paul McCartney at Wynn in Las Vegas. Quote: ”Private equity is not immune to market forces. You buy in the market, you sell in the market. When nobody is buying we can't sell, when nobody is selling we can't buy."
In early 2017 Lee Bass and his three brothers sold their oil company, originally inherited from tycoon great-uncle Sid Richardson (d. 1959) to ExxonMobil for $6 billion. A devoted outdoorsman, Lee has been instrumental in protecting rhinoceroses worldwide, and is responsible for bringing critically endangered black rhinos and white rhinos to the Fort Worth Zoo. Lee spent 12 years as commissioner of the Texas Parks and Wildlife Department. His El Coyote ranch in south Texas is home to an elite herd of Texas longhorn cattle. In 1991 Lee donated $20 million to alma mater Yale for a new program in Western Civilization. After outcry against Lee's insistence that he get to approve the program's professors, Yale canceled the program and returned the donation. The Lee & Ramona Bass Foundation is endowed with more than $50 million.
Arguably Fort Worth's biggest booster, Ed Bass has led the drive to revitalize the Texas city, focusing on its downtown Sundance Square and $65 million Bass Performance Hall, which opened in 1998. Now under construction is a new $450 million arena -- with half its cost being borne by Bass and other donors. Once called "a Texas-bred cross between Prince Charles and Lorenzo de Medici," Ed is the Renaissance man among the Bass brothers and was once the money behind Biosphere 2. He also owns ranches in Texas and Flint Hills of Kansas where he is devoted to seeding with native grasses. Waxing philosophical during a press conference for Sundance Square, he once said, "Wealth is not, you know, a matter of money. 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). By the time they sold their oil interests to ExxonMobil in 2017 for $6 billion they'd already been diversifying for 40 years.
In one of the biggest scores of the oil boom, George Bishop's Geosouthern Energy sold its south Texas fields to Devon Energy for $6 billion in late 2013. He has since redeployed capital in the Haynesville shale natural gas play in Louisiana. Believed to own Chub Cay island in the Bahamas and a golf course near Houston. Very private.
31.Bert “Tito” Beveridge
The man behind Tito’s vodka, of which he sells an estimated 44 million bottles per year. Beveridge grew up riding horses in San Antonio. At U.T. he earned degrees in geology and geophysics. But 1997 oil and gas had driven him to the drinks trade. He launched Tito’s with $90,000 on 19 credit cards. Won the World Spirits Competition in 2001. Defensive of his rep: “If someone tells me my brand isn't a craft-distilled spirit because it's too big, I just say, 'I make it the same way I've always made it. I just have a lot more stills.”
32.W. Herbert Hunt
One of 15 children (by three women) of legendary oil wildcatter H.L. Hunt, Herbert in the 1970s joined with brother Nelson Bunker Hunt (d. 2014) to try and corner the world silver market. They built a consortium with rich Saudis that accumulated 195 million ounces. Then silver collapsed 80% in 1980 and the brothers fell of the Forbes 400 and into bankruptcy. Hunt endured in the oil business; his Petro-Hunt sold oilfields in North Dakota in 2013 to publicly traded Halcon Resources for $1.5 billion in cash and stock.
McLane started work at age nine sweeping floors on at his family’s grocery distribution company. A few years later he took over as CEO and ran McLane for 30 years, averaging 30% annual sales growth. That got the attention of his friend Sam Walton, who in 1991 bought McLane for $50 million plus 10.4 million shares of Walmart. Gives to Baylor and Michigan State. Sold his majority stake in the Houston Astros in 2011 to Jim Crane.Teaches Sunday school.
34.H. Ross Perot, Jr.
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. It features a 100,000 gallon cistern to collect stormwater for irrigation. Perot's 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. Perot developed the 18,000 acre AllianceTexas logistics center in Fort Worth, but is determined to make a lasting contribution to the Dallas skyline -- he's working with famed architect Norman Foster on a 70-story skyscraper project. Still awed by his 86-year-old father: "I got to see the American dream unfold in my living room." F
The Forbes 400 members remain largely self-made, with 275, or 69%, having created their fortune rather than inheriting it.How many of the Forbes 400 inherited their wealth? ›
The Forbes 400 members remain largely self-made, with 275, or 69%, having created their fortune rather than inheriting it.Who was the top richest man in 2017? ›
Amazon's Jeff Bezos had the best year of any person on the planet, adding $27.6 billion to his fortune; now worth $72.8 billion, he moved into the top three in the world for the first time, up from number five a year ago.Who are the richest men in Texas list? ›
Among the wealthiest Texans are Michael Dell, chairman and CEO of Dell Technologies; Jerry Jones, owner of the Dallas Cowboys; spouses Stanley Kroenke and Ann Walton Kroenke (though ranked separately); Tilman Fertitta, owner of the Houston Rockets; Airbnb co-founder Joe Gebbia; and Mark Cuban, owner of the Dallas ...Who are the richest people in Texas? ›
- #8. Autry Stephens. ...
- #7. Jeffery Hildebrand. ...
- #6. Andrew Beal. ...
- #5. Stanley Kroenke. ...
- #4. Jerry Jones. ...
- #3. Michael Dell. ...
- #2. Alice Walton. - Net worth: $58.8 billion (#21 wealthiest in the world) ...
- #1. Elon Musk. - Net worth: $193.9 billion (#2 wealthiest in the world)
Dave Ramsey, personal finance expert and founder of Ramsey Solutions, says this myth of primarily inherited riches is “flat wrong.” When Ramsey's National Study of Millionaires asked where the riches came from, they found that a whopping 79% didn't receive any inheritance from parents or other family members.Who is the richest family in Houston Texas? ›
Billionaires Jeffery Hildebrand and Tilman Fertitta top Forbes' list of richest in Houston. Get to know the new owner of the Rockets, Tillman Fertitta. HOUSTON, Texas -- According to Forbes, half of all of the world's billionaires are less wealthy than they were in 2022.Who made the most money in 2017? ›
Amazon CEO Jeff Bezos earned the most money and became the richest person in the world in 2017, adding over $35 billion dollars to his bank account for a total net worth of over $100 billion.Who is No 1 richest person in the world? ›
Who is the richest man in the world? As of July 1, 2023, the richest man in the world is Elon Musk, the CEO of electric car company Tesla; he's worth $237.7 billion. He moved into the number one spot in June, overtaking Bernard Arnault of France.Who are the top 5 richest people in the world 2017? ›
- 1) Jeff Bezos (Net Worth: $112 Billion)
- 2) Bill Gates (Net Worth: $90 Billion)
- 3) Warren Buffet (Net Worth: $84 Billion)
- 4) Bernard Arnault (Net Worth $72 Billion)
- 5) Mark Zuckerberg (Net Worth: $71 Billion)
The analysis from the website HomeSnacks.com factored in poverty rate, median household income, unemployment rate and where the richest people in the state live. In order to make the list cities also had to have a population of at least 5,000. Southlake topped the list with a median income of $239,833.Who are the rich oil families in Texas? ›
The book tells the story of four Texas oil men and their families that made large fortunes in the oil industry: Hugh Roy Cullen, Clint Murchison, Sid Richardson and H.L. Hunt.What city in Texas has the richest people? ›
- Alamo Heights.
- Highland Village.
But what do North Texans believe is the dollar threshold for being wealthy? In a recent survey by Westlake-based financial services giant Charles Schwab, residents of Dallas-Fort Worth said they think it takes a net worth of $2.6 million to officially be wealthy.Who is the richest woman in Texas? ›
More self-made Texas women
The Austin resident holds the distinction of being the wealthiest self-made woman in the Lone Star state and No. 5 nationally. Gwynne Shotwell ($860 million) – President and COO of SpaceX. Lisa Su ($740 million) – CEO and president of Advanced Micro Devices (AMD)
- Most millionaires work at Fortune 500 companies. ...
- Many poor people become millionaires by winning the lottery. ...
- Millionaires usually drive new cars. ...
- Many millionaires drop out of college to start work. ...
- Single people are more often millionaires than married people. ...
- It is impossible to save enough to be a millionaire.
While stories about sudden inheritances upending the lives of young people persist, they're actually the minority. In a new white paper published by United Income from Capital One, researchers found that as of 2016 the average age of Americans receiving an inheritance is 51 — a 10-year increase from 1989.How many 401k millionaires are there? ›
The 442,000 millionaire mark in 2021 was a peak since the first 401(k) plan was first established in 1978 but the year that followed was a very uncertain one and so many people saw significant drops to their accounts.What is the richest town in Houston? ›
The richest neighborhood in Houston is River Oaks. Located on the city's west side near Memorial Park, this area is known as a wealthy community filled with first-class excellence.
|South Carolina||Columbia||Chris Rock|
|South Dakota||Pierre||Tom Brokaw|
Jerry Jones and Mark Cuban are two of the most well-known billionaires in the Metroplex. What many may not know is that Dallas and Fort Worth are home to some of the richest people in the country.What was the most viewed movie in 2017? ›
|1||Star Wars: Episode VIII - The Last Jedi||$620,181,382|
|2||Beauty and the Beast||$504,014,165|
|4||Guardians of the Galaxy Vol. 2||$389,813,101|
1. Jeff Bezos: $107.4 million per day.Who made the most money in a day? ›
Jeff Bezos set a record for the most money gained in a single day on July 20, 2020 when he his net worth jumped by $13 billion.What profession has the most billionaires? ›
In broader terms, the finance and investment profession has the most millionaires. It also has the most billionaires, with 371. Here's a list of the seven best careers if you want to be a millionaire.Are there any Trillionaires? ›
A trillion is such a huge number, followed by twelve zeros. That is one thousand times a billion (nine zeros followed by 1). Do you know that only 6 trillionaires ever lived on the face of earth? As of today, there are no trillionaires who live on earth.Who has most cash in the world? ›
Luxury Mogul Takes Top Spot. The world's richest person is France's Bernard Arnault, the chief executive of LVMH. With 75 brands, the luxury conglomerate owns Louis Vuitton, Christian Dior, and Tiffany.Who is the richest person in the world 2023? ›
The May 31 update shows Musk overtaking Bernard Arnault, the owner of luxury goods brands such as Louis Vuitton, Christian Dior and Tiffany & Co. Arnault was named the richest person in the world by Forbes in April, but a recent drop in his company's stock catapulted Musk ahead.Who is the richest person in 2016? ›
Microsoft founder Bill Gates maintained the top spot as the world's richest person. His estimated $75 billion net worth, down from $79.2 billion last year, gave him the number one position for the 17th time in the last 22 years, Forbes said.Who was the richest person in the world in 2015? ›
Bill Gates was again named the richest person in the world in Forbes Magazine's annual list of the world's billionaires. This is the 16th time that the founder of Microsoft has claimed the top spot. Carlos Slim, Mexican business magnate, came in second as he had in 2014.
Lazy Lane Boulevard was the only street in Texas to crack Zillow's top 15 most expensive streets list. The priciest street nationally was Indian Creek Island Road in Miami with a median home value of $21.5 million, according to the Seattle-based online real estate company.What's the poorest city in Texas? ›
Nearly all residents of Carrizo Hill live below the poverty line. The local poverty rate in the town stands at a staggering 96.9%, compared to the statewide poverty rate of 14.0%. All data in this story are five-year estimates from the U.S. Census Bureau's 2021 American Community Survey.Who are the big 4 Texas oil families? ›
Known in their day as the Big Four, Roy Cullen, H. L. Hunt, Clint Murchison, and Sid Richardson were all from modest backgrounds, and all became patriarchs of the wealthiest oil families in Texas.What is the biggest oil town in Texas? ›
The state is home to a number of different major oil and gas players, including BP, ConocoPhilips, Shell, and Valero Energy. Houston is the state's largest city and a key center for oil and gas companies. Austin, Dallas, San Antonio, and Midland are among the other major hubs for the industry.What county in Texas has the most oil? ›
According to the ranking, Midland was top with 15.238 million barrels, Martin was second with 14.277 million barrels, Howard was third with 10.198 million barrels, Karnes was fourth with 6.190 million barrels, and Upton was fifth with 6.028 million barrels.What is the richest school district in Texas? ›
According to the list, the richest school district in Texas is Friendswood Independent School District. This district is found in Galveston County. The average household income for families in this school district is $167,090 per year. The graduation rate is 97%.What is the wealthiest zipcode in Texas? ›
In Texas, the most expensive zip code is 78746 in Austin. The average home value is $1,409,777, which is 517.5% above the typical home value in Texas. Here's a look at the top 10 most expensive zip codes in Texas: 78746 (Austin)What county in Texas has the most millionaires? ›
In Texas, Fredericksburg has the highest percentage of millionaires, where 701 households with more than $1 million in assets makes up nearly 6.5% of the area's population. (Fredericksburg come in at No. 47 on the national list.)Who is the youngest billionaire in Texas? ›
Austin Russell became the youngest self-made billionaire in 2021; now he owns Forbes.What town has the most billionaires? ›
Top 10 cities around the world with the most billionaires
New York City topped the list with 136 billionaires in 2022. The city's uber-rich population lost two people from 2021 to 2022, but it's still the global billionaire capital.
Like Florida, Texas has warm weather and no state income tax. In fact, the majority of the top 10 states high-earners moved to are in the Sunbelt. And two others on the list—Tennessee and Nevada—also don't have a state income tax.What salary is top 1% in Texas? ›
In Texas, an annual income of $641,400 will land you at the top, while $258,400 only gets you to the top five percent.What is upper class in Texas? ›
|Annual Salary||Monthly Pay|
If you want to live in Texas, an 80K salary is a good place to start, as this puts you in the middle class in Texas. You can live very comfortably on this kind of salary anywhere in Texas, whether you have a family to support or not.Who is the richest oil man in Texas? ›
Houston's own Jeffery Hildebrand was named the richest man in the city, the Forbes List reports. Video Player is loading.Who is the richest daughter? ›
Princess Charlotte of Cambridge: $5 Billion
While it's been reported by Marie Claire that the 8-year-old is expected to get a job rather than being a full-time working royal, it's not because she is lacking in net worth.
28% have legacy wealth: People with both an affluent background and inherited money.What percentage of all wealth is inherited? ›
Approximately 60% of the wealth in the United States is inherited, leaving around 40% to be accumulated through personal efforts and investments.What percentage of millionaires inherited their money? ›
Only 3% of millionaires inherited a million dollars or more. 3 PERCENT! Most wealthy people didn't inherit their wealth, they made it... and YOU can too. They're always mad.What percent of billionaires inherited their wealth? ›
The Hurun Global Rich List 2023 showed that 70% of the billionaires are self-made and only 30% are legacy.
$42 trillion of new wealth was created between December 2019 and December 2021. $26 trillion (63 per cent) was captured by the richest 1%, while $16 trillion (37 per cent) went to the bottom 99 per cent. According to Credit Suisse, individuals with more than $1 million in wealth sit in the top 1% bracket.What is considered a large inheritance? ›
In general, a large inheritance is considered to be a sum of money or assets that is significantly larger than the individual's typical annual income. Specifically, for some individuals, a large inheritance may be considered to be $100,000 or more, while for others, it may be several million dollars.How much does the average American inherit? ›
According to a survey conducted by the Federal Reserve, between 2016 and 2019, the average inheritance received in the U.S. was $46,200. The average for the wealthiest 1% of individuals surveyed was $719,000, while the average for the bottom 50% was only $9,700.Are most millionaires self made or inherited? ›
Recent studies have shown that the notion that most millionaires are born into wealth is a myth. In fact, over two-thirds of millionaires are self-made, according to a 2019 study by Wealth-X and a study by Fidelity Investments.What percentage of millionaires don t have a college degree? ›
Ramsey Solutions conducted what it calls the largest study of millionaires ever, with 10,000 participants. It found that 88% of millionaires graduated from college, compared to 38% of the general population. In addition, 52% of millionaires had a master's or doctoral degree, compared to 13% of the general population.Where do 90% of millionaires come from? ›
“90% of all millionaires become so through owning real estate.” This famous quote from Andrew Carnegie, one of the wealthiest entrepreneurs of all time, is just as relevant today as it was more than a century ago. Some of the most successful entrepreneurs in the world have built their wealth through real estate.Do most millionaires make over $100000 a year? ›
Millionaire Statistics by Industry
In addition, one-third of these millionaires have never made six figures, and less than one-third made an average of $100,000 a year throughout their career. The five careers most commonly held by millionaires, according to one survey, include engineering, accounting (CPA), and law.
To feel wealthy, Americans say you need a net worth of at least $2.2 million on average, according to financial services company Charles Schwab's annual Modern Wealth Survey. But even if you have that much in the bank, it might not be enough to be considered rich in certain places, the survey found.What nationality has the most billionaires? ›
Country With Most Billionaires
The United States is the country with the most billionaires, with a total of 724 individuals holding a net worth of about $4.4 trillion.
Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 32.3% of the country's wealth, while the bottom 50% held 2.6%.