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    Pandemic be damned

    10 Houston billionaires bank spots on Forbes' 2020 list of richest Americans

    John Egan
    Sep 10, 2020 | 3:45 pm
    Nancy and Rich Kinder at MD Anderson Legends dinner
    Kinder, with wife, Nancy.
    Photo by Michelle Watson/Catchlight Group

    In a booming, opportunity city full of tycoons, which billionaire reigns supreme? That honor goes to Richard Kinder, the pipeline mogul worth $6.2 billion — who is also a familiar name in philanthropic circles as a chief benefactor of Memorial Park. Locals may also recognize his name on the new Museum of Fine Arts, Houston building.

    Kinder, and his wife, Nancy, join an impressive list of Texans on the 2020 edition of the Forbes 400, which ranks the 400 richest Americans and was released September 8. (See their methodology here.) "Pandemic be damned: America’s 400 richest are worth a record $3.2 trillion, up $240 billion from a year ago, aided by a stock market that has defied the virus," Forbes writes.

    Around Houston, the richest-of-the-rich list looks similar to recent years. Here's how local billionaires rank nationally in 2020 and how their wealth has fared:

    Houston:

    • Richard Kinder — $6.2 billion, No. 103. Last year: $7.5 billion.
    • Pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams — $4.8 billion each, No. 139. Last year: $6.3 billion.
    • Houston Rockets owner and restaurant kingpin Tilman Fertitta — $4.1 billion, No. 181. Last year: $4.9 billion.
    • Toyota titan Dan Friedkin of Houston — $4.1 billion, No. 181. Last year: $4 billion.
    • Houston Texans co-founder Janice McNair — $3.9 billion, No. 197. Last year: $4 billion.
    • Houston energy executive Jeffery Hildebrand — $3.6 billion, No. 222. Last year: $3.8 billion.
    • Former hedge fund manager John Arnold — $3.3 billion, No. 249. Last year: $3.3 billion.

    Meanwhile, Walmart heiress Alice Walton of Fort Worth has retained her status as the richest Texan and America’s richest woman in 2020, with a net worth estimated this year at $62.3 billion. That compares with $51.4 billion in 2019.

    Walton moved up from No. 11 last year to No. 10 this year in the Forbes ranking of the richest Americans.

    From 2019 to 2020, Walton’s net worth jumped by $10.9 billion. To give you an idea of how much money that is, the size of the economy in Africa’s Republic of Congo totaled $10.8 billion in 2019. Walton’s entire net worth is slightly more than the size of the Costa Rican economy (nearly $61.8 billion in 2019).

    Here’s the regional breakdown for Texas’ remaining Forbes 400 billionaires.

    Dallas-Fort Worth:

    • Dallas Cowboys owner Jerry Jones — $8.6 billion, No. 56. Last year: $8.6 billion.
    • Dallas banker and real estate investor Andy Beal — $7.6 billion, No. 67. Last year: $9.8 billion.
    • Fort Worth oil and gas heir Robert Bass — $4.8 billion, No. 139. Last year: $4.9 billion.
    • Dallas oil and gas heir Ray Lee Hunt — $4.6 billion, No. 154. Last year: $5.2 billion.
    • Dallas Mavericks owner Mark Cuban — $4.2 billion, No. 177. Last year: $4.1 billion.
    • Margot Birmingham Perot, widow of Dallas tech entrepreneur Ross Perot — $4 billion, No. 186. Last year: $4.2 billion.
    • Fort Worth private equity titan David Bonderman — $4 billion, No. 186. Last year: $3.7 billion.
    • Omni Hotels and Gold’s Gym king Robert Rowling of Dallas — $3.9 billion, No. 197. Last year: $5.5 billion.
    • Oil and gas chief Trevor Rees-Jones of Dallas — $3.5 billion, No. 228. Last year: $3.7 billion.
    • Dallas pipeline executive Kelcy Warren — $2.8 billion, No. 299. Last year: $4.3 billion.
    • Dallas real estate honcho H. Ross Perot Jr. — $2.5 billion, No. 339. Last year: $2.2 billion.
    • Fort Worth oil heir Sid Bass — $2.3 billion, No. 359. Last year: $3.1 billion.
    • Dallas banker Gerald Ford — $2.1 billion, No. 391. Last year: $2.3 billion.

    Austin:

    • Michael Dell, tech magnate — $35.6 billion, No. 18. Last year: $32.3 billion.
    • Robert Smith, private equity entrepreneur — $6.2 billion, No. 125. Last year: $5 billion.
    • Bert “Tito” Beveridge, vodka tycoon — $4.6 billion, No. 154. Last year: $4.2 billion.
    • Thai Lee, tech entrepreneur — $3.1 billion, No. 268. Last year: $3 billion.
    • Joe Liemandt, software entrepreneur — $3 billion, No. 278. Last year: $3 billion.
    • John Paul DeJoria, hair care and tequila mogul — $2.7 billion, No. 319. Last year: $3.1 billion.
    • Jim Breyer, venture capitalist — $2.4 billion, No. 353. Last year: $2.5 billion. (Breyer recently relocated from Silicon Valley to Austin).
    • Brian Sheth, private equity entrepreneur — $2.3 billion, No. 359. Last year: $2.2 billion.

    Of note, in just one year, Dell’s net worth soared by $3.3 billion — more than the entire net worth of fellow Austin billionaire Thai Lee. The chairman and CEO of the Round Rock-based tech company that bears his name is Austin's richest resident.

    Elsewhere in Texas:

    • Walmart heiress Ann Walton Kroenke — $8.4 billion, No. 58. Last year: $7.5 billion.
    • Real estate, sports, and entertainment big shot Stan Kroenke — $8.3 billion, No. 59. Last year: $9.7 billion. (The Kroenkes live on a massive ranch near the North Texas town of Vernon.)
    • Investor and former grocery distributor Drayton McLane Jr. of Temple — $2.8 billion, No. 299. Last year: $2.6 billion. McLane is former owner of the Houston Astros.
    • Hearing-aid mogul Bill Austin of Brownsville — $2.2 billion, No. 378. Last year: $2.4 billion.
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    always be prepared

    Texas tax-free weekend lets shoppers stock up on emergency supplies

    Amber Heckler
    Apr 20, 2026 | 2:15 pm
    Community Service Bag packing
    Getty Images
    Emergency supplies like first aid kits that cost less than $75 are eligible for a tax break this weekend.

    The best time for Texas residents to stock up on supplies to prepare for natural disasters is coming up this weekend. The annual statewide Emergency Preparation Supplies Sales Tax Holiday runs from April 25-27, when Texans will be able to purchase critical emergency supplies — plus household necessities like batteries and fire extinguishers — tax-fee.

    Shoppers can purchase certain emergency supplies tax-free starting at 12:01 am on Saturday, April 25, and the "holiday" runs until midnight on Monday, April 27. There is no limit on the number of qualifying items that can be purchased during the weekend, and purchases can be made in store, online, through the mail, and via custom order.

    Saving on emergency supplies
    Emergency preparation supplies must be purchased under certain price brackets to qualify for the tax exemption. For example, portable generators must have a sales price less than $3,000 to qualify for a tax break. Ladders and hurricane shutters that cost less than $300 also qualify.

    Delivery, shipping, handling, and transportation charges are included in the sales price, according to the Comptroller. So if a shopper buys a $299 rescue ladder and is charged a $10 delivery fee, the total sales price for the purchase is $309, and tax would need to be paid for that sales price.

    Additional items that qualify for a tax break as long as they cost less than $75 include:

    • Axes
    • Batteries – single or multipack (AAA cell, AA cell, C cell, D cell, 6 volt or 9 volt)
    • Carbon monoxide detectors
    • Fire extinguishers
    • First aid kits
    • Fuel containers
    • Ground anchor systems and tie-down kits
    • Hatchets
    • Ice products – including reusable and artificial ice
    • Light sources – including those that are battery operated or portable self-powered sources; candles, flashlights, and lanterns
    • Mobile telephone batteries and mobile telephone chargers
    • Non-electric can openers
    • Non-electric coolers and ice chests for food storage
    • Radios – including portable self-powered radios, battery operated radios, two-way radios, and weather band radios
    • Smoke detectors
    • Tarps and other plastic sheeting
    The full list of qualifying items is available on The Texas Comptroller of Public Accounts' website.

    As a reminder, over-the-counter items like antibacterial hand sanitizer, soap, and spray and wipes are always exempt from sales tax if they are labeled with a "Drug Facts" panel in compliance with Food and Drug Administration regulations.

    Non-qualifying items that will still be taxed
    Medical masks, face masks, and gloves of any kind do not qualify for a tax exemption. Other taxable items including toilet paper, cleaning supplies (such as disinfectants and bleach wipes), vehicle or boat batteries, chainsaws, plywood, extension ladders, and stepladders. Camping equipment and supplies, including stoves and tents, are also not eligible for a tax break.

    Additionally, any repair or replacement parts for emergency preparation supplies do not qualify for tax exemptions, and neither do any services that are performed on or related to those supplies.

    What to do if a qualifying item is taxed during the holiday
    If customers buy a tax-exempt item between April 25-27 and are still taxed, they may request a refund from the seller on the tax paid for the item. The seller can grant the refund to the buyer, or provide them with Form 00-985, Assignment to Right to Refund, which would allow the customer to file a claim for their refund through the Comptroller's website.

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