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Telling Fortunes

October 2013By

In the past five years of recession and slow recovery, Texas has earned a reputation for being a pocket of prosperity. But who is putting that prosperity in his pocket? To find out, we partnered with Forbes Magazine, which published its annual Forbes 400 list earlier this week (see below for an explanation of the Forbes methodology). The 41 Texans seen here all made the cut; they’re our state’s wealthiest individuals, as determined by Forbes’s painstaking research. Their cumulative net worth is $200.7 billion, nearly as much as the current state budget. Who are they? Some you’d expect: Alice Walton (whose $33.5 billion makes her the country’s eighth-richest person), Michael Dell, Charles Butt, and dynastic names like Bass and Hunt. But others represent relatively newer fortunes, minted in the Barnett and Eagle Ford shale plays or in lucrative pipeline and oil-field services: Richard Kinder, Jeffrey Hildebrand, Trevor Rees-Jones, Kelcy Warren, the Duncan siblings, and the Wilks brothers. There are scant women on the list this year and just four peopleDell, Mark Cuban, and Ross Perot Sr. and Jr.with ties to high tech (Rackspace CEO Graham Weston, on last year’s list, has since fallen off). In fact, it seems the more things change, the more they stay the same. In 1982, the first year that Forbes produced its list, Texans accounted for 17 percent of the roster, riding the crest of an oil boom. This year they make up 10 percent, but 21 of the 41 have ties to oil and gas. And if today’s predictions are correct—some say oil production could double by 2020—it’s possible that Texans may soon redefine wealth entirely. (Text by Nate Blakeslee, Pamela Colloff, S.C. Gwynne, Sonia Smith, John Spong, Loren Steffy, Mimi Swartz, Andrea Valdez, and Katy Vine.)

  1. No. 1: Alice WaltonAge: 63Home: MillsapNet Worth: $33.5 billion
  2. No. 2: Michael DellAge: 48Home: AustinNet Worth: $15.9 billion
  3. No. 3: Richard KinderAge: 68Home: HoustonNet Worth: $10.2 billion
  4. No. 4: Harold SimmonsAge: 82Home: DallasNet Worth: $10 billion 
  5. No. 5: Andrew BealAge: 60Home: DallasNet Worth: $9.8 billion
  6. No. 6: Charles Butt and FamilyAge: 75Home: San AntonioNet Worth: $8.5 billion
  7. No. 8: Ray L. HuntAge: 70Home: DallasNet Worth: $5.6 billion
  8. Nos. 9, 10, 11, and 12: Dannine Avara, Scott Duncan, Milane Duncan Frantz, Randa Duncan WilliamsDannine Avara (49, Houston): $5.5 billionScott Duncan (30, Houston): $5.5 billionMilane Duncan Frantz (42, Houston): $5.5 billionRanda Duncan Williams (52, Houston): $5.5 billion
  9. No. 7: Elaine Marshall and FamilyAge: 71Home: DallasNet Worth: $8.3 billion
  10. No. 13: Jeffrey HildebrandAge: 54Home: HoustonNet Worth: $5.5 billion
  11. No. 14: Robert RowlingAge: 59Home: DallasNet Worth: $4.9 billion
  12. No. 15: Trevor Rees-JonesAge: 62Home: DallasNet Worth: $4.4 billion
  13. No. 16: John Paul DejoriaAge: 69Home: AustinNet Worth: $4 billion
  14. No. 17: Henry Ross Perot Sr.Age: 83Home: DallasNet Worth: $3.5 billion
  15. No. 18: Kelcy WarrenAge: 57Home: DallasNet Worth: $3.4 billion
  16. No. 19: William Herbert HuntAge: 84Home: DallasNet Worth: $3 billion
  17. No. 20: Jerry JonesAge: 70Home: DallasNet Worth: $3 billion
  18. No. 21: John ArnoldAge: 39Home: HoustonNet Worth: $2.8 billion
  19. Nos. 22, 30, 31, and 37: Robert Bass, Edward Bass, Lee Bass, and Sid BassRobert Bass (65, Fort Worth): $2.8 billionEdward Bass (68, Fort Worth): $2.1 billionLee Bass (57, Fort Worth): $2.1 billionSid Bass (70, Fort Worth): $1.8 billion
  20. No. 23: David BondermanAge: 70Home: Fort WorthNet Worth: $2.6 billion
  21. No. 24: Richard RainwaterAge: 69Home: Fort WorthNet Worth: $2.6 billion
  22. No. 25: Mark CubanAge: 55Home: DallasNet Worth: $2.5 billion
  23. No. 26: Dan FriedkinAge: 48Home: HoustonNet Worth: $2.5 billion
  24. No. 27: Timothy HeadingtonAge: 63Home: DallasNet Worth: $2.5 billion
  25. No. 28: Tilman FertittaAge: 56Home: HoustonNet Worth: $2.4 billion
  26. No. 29: Rodney LewisAge: 59Home: San AntonioNet Worth: $2.4 billion
  27. No. 32: Robert McNairAge: 76Home: HoustonNet Worth: $2 billion
  28. No. 33: Fayez SarofimAge: 84Home: HoustonNet Worth: $2 billion
  29. No. 34: Ray DavisAge: 71Home: DallasNet Worth: $1.9 billion 
  30. No. 35: Gerald J. FordAge: 69Home: DallasNet Worth: $1.9 billion
  31. No. 36: Drayton McLane Jr.Age: 77Home: TempleNet Worth: $1.9 billion
  32. No. 38: Henry Ross Perot Jr.Age: 54Home: DallasNet Worth $1.8 billion
  33. No. 39: Joe Jamail Jr.Age: 87Home: HoustonNet Worth $1.6 billion
  34. Nos. 40 and 41: Dan Wilks and Farris WilksDan Wilks (57, Cisco): $1.5 billionFarris Wilks (61, Cisco): $1.5 billion
  35. The Forbes Methodology

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