Rich get richer
Houston investor Fayez Sarofim has rejoined the list of Forbes richest Americans, which was released Monday. Sarofim ranks as No. 273 on the latest list of the nation's 400 richest people compiled by Forbes magazine, with a net worth estimated at $2 billion.
Sarofim, the 84-year-old chairman and founder of Fayez Sarofim Co., a Houston-based portfolio management firm with $29 billion in assets under management, was previously on the Forbes list of richest Americans in 2007, although late last year he was added to Forbes list of the world's top billionaires as a result of his significant investments in Kinder Morgan, the Houston-based energy and pipeline company founded by Rich Kinder and William Morgan.
Kinder remains the richest Houstonian on the Forbes list, ranking No. 39, with an estimated net worth of $10.2 billion.
Also new on the list is Gulf States Toyota CEO Dan Friedkin, 48, who replaced his father, Thomas Friedkin, a perennial member of the exclusive club. Forbes says the younger Friedkin, who has been involved in growing the auto distributorship that has exclusive rights to import and distribute Toyota vehicles in Texas, Arkansas, Louisiana, Mississippi and Oklahoma, joined the list for the first time after completing a transfer of assets from his father. He ranks No. 222, with a net worth of $2.5 billion.
Other Houstonians, who have made a repeat appearance from last year's list, include:
- Four heirs of oilman Dan Duncan — Dannine Avara, 49, Scott Duncan, 30, Milane Franz, 44 and Randa Williams, 52 — tied at No. 77, with a net worth of $5.5 billion.
- Oilman and donut shop owner Jeffrey Hildebrand also tied at No. 77, with a net worth of $5.5 billion.
- Energy trader-turned-philanthropist John Arnold, 39, ranks No. 193, with a net worth of $2.8 billion.
- Restaurant/casino magnate Tilman Fertitta, 56, jumped up the list 63 spots, to rank No. 235, with a net worth of $2.4 billion.
- Houston Texans owner Bob McNair, 76, is No. 273, with a net worth of $2 billion (tied with Sarofim). Among the interesting quotes he gave Forbes: "We won't hire anyone with a history of violence, especially if they have been abusive towards women. The people who perform best are disciplined people. And people who are disciplined are usually of good character."
- Former Houston Astros owner Drayton McLane, Jr., 77, who calls Temple home, is at No. 296, with a net worth of $1.9 billion.
- Attorney/philantropist Joe Jamail, Jr., 87, is No. 342, with a net worth of $1.6 billion.