The Houston billionaire's club (which may or may not be a real thing) looks like it has a new inductee this year.
The Forbes list of the world's billionaires was released this week, including 1,226 individuals who are worth a collective $4.6 trillion — both records. Big Rich Texas isn't just a reality show: Since 2010, the number of billionaires in the Lone Star State has increased by 20 percent, from 40 to 48, with 14 residing in or near Houston.
Here's a little insider tip: Apparently oil and gas is a good place to make a lot of money.
In Houston, Landry's CEO Tilman Fertitta is on the Forbes list for the first time, entering at No. 854 with $1.5 billion from his seemingly endless restaurant and casino empire. In Houston, Fertitta is tied in the rankings with lawyer Joe Jamail Jr. and Houston Texans owner Bob McNair, leaping past oilman Bud Adams Jr. (No. 1,075), who, with only $1.1 billion in assets, must now wear the pauper hat at all the billionaire club meetings.
Here's a little insider tip: Apparently oil and gas is a good place to make a lot of money.
"Pipeline prince" Rich Kinder is once again the richest man in Houston — with $8.3 billion he's ranked No. 110 in the world. Oilman Jeffrey Hildebrand follows him at No. 193 with $5.3 billion. Dannine Avara, Scott Duncan, Milane Frantz and Randa Duncan — heirs of the late pipeline magnate Dan Duncan — are each listed with assets of $4.1 billion at No. 270.
Shale drilling pioneer and Woodlands founder George Mitchell is one of the oldest billionaires on the list with $2.2 billion at age 92.
In non-energy billionaires, hedge funder John Arnold is listed at No. 377 with $3 billion, former Astros owner Drayton McLane (who sold the team for $680 million in 2012) is credited with making his fortune ($2 billion, No. 634) in grocery distribution, and Toyota distributor Thomas Friedkin rounds out the Houston billionaires at No. 804 with $1.6 billion.
