He was the first to develop the Barnett shale field in Texas, which he later sold to Devon Energy in 2002 for $3.5 billion. The University of Houston, where buildings and streets bear his name, benefitted most from the Cullen fortune, receiving more than $22 million in gifts. The Midland-based firm has suitors including Exxon Mobil Corp. and Chevron Corp. weighing bids that could value the company at $15 billion, including about $1 billion of debt. Just tell the truth. If you have a secret billionaire dossier you want to share, drop me a line at chelman@forbes.com. Midlands civic leaders and community dads, in effect, proved short-sighted. When the residents of sleepy, rural McMullen County, Texas, found out that they officially lived in the richest county in America, "we were shocked," recalls Kimberly Kay Kreider . This is a list of notable people who were born in, residents of, or otherwise closely associated with the American city of Midland, Texas . 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. Amazon chief Jeff Bezos is the second-richest at $67 billion. It took a fortune of at least $2 billion to make Forbes 2017 list of 400 richest Americans. Back when Midland put much energy into its annual week-long rodeo, civic clubbers with lariats roped and dragged to portable sidewalk jails any citizen or visitor who failed to dress Western. This, to me, always seemed the games of children. 67): $7.5 billion A former ExxonMobil geologist, Hildebrand co-founded Hilcorp in 1990, later bought out his partner for $500 million. 127 on the list of billion-dollar fortunes with a net worth of $1.8 billion. Midlands old First Families themselves owned much of the underground wealth; their ancestors, tenaciously accumulative, sometimes had left spreads reaching into other Permian Basin counties and even far up into New Mexico. Who is the richest person in midland tx? By Larry L. King. Style Etiquette 101 Whats Current, Whats Over, and How to Keep Invitation Attire Clear, The Most Asked Etiquette Questions of Summer 2022 Pool Parties, Parenting, and Vacation Friends, Theres No Such Thing As a Silly Etiquette Question in Todays World Ask PaperCity Anything, Technoference is Real Heres How to Deal With It, According to a Modern Etiquette Expert, The Etiquette for 2022 Pairs Best With a Healthy Dose of Emotional Intelligence. The net worth of each heir exceeds $5 billion. They view their experiences as having suffered some remote outpostas with the British, say, in India. You could fry in the sun, however, if you waited on a corner until any of the media outlets decided to probe or explore poverty, racism, institutional injustices, or otherwise critically examine their bailiwicks. wealthiest families in midland texas. 409), an hour west of Fort Worth. Today, though Midland held a slight population edge through the early 1940s and the growth battle remained close for another twenty years, Odessa claims more than 83,000 people to Midlands 58,000 and has clearly become the area trade center. The oil and real estate company, which celebrated its 100-year anniversary in May 2013, is one of the regions largest private energy producers with nearly 1,000 wells, according to Forbes. Midland oil dynasty lands on list of wealthiest families. 127 on the list of billion-dollar fortunes with a net worth of $1.8 billion. Beveridge grew up riding horses in San Antonio. Getty Images. July 8, 2014. 19 in the country. Mark Cuban, owner of the Dallas Mavericks basketball team and an investor on the television show, Shark Tank, has an estimated wealth of $3.3 billion, making him tied as the 21st richest Texan and ranked as tied at No. Politically, this is bedrock conservative territory with the nut wing among Rightists well-represented. Tom Foster writes about business, innovation, and creative people. The Butt family last year ranked as the 23rd richest family in the country, equal to the Rockefeller family in New York. Friedkin owns Gulf States Toyota, the $8 billion (est. If we wanted to snag one for tonight, for instance, at least a half-dozen hotels in Midland are charging more than $200 for one night., Indeed, you do not often seefigures like$265 and $269 next to names like Comfort Inn and Country Inn and Suites by Carlson., Ah, Midland: the West Texas land of opportunity, the Dallas-based Blaskovich continued. He rescued Texas ice cream maker Blue Bell with a $125 million loan after a 2015 listeria outbreak halted production for months. Odessa, on the other hand, has little demand for corporate lawyers. Ann Walton Kroenke, one of the two daughters of Bud Walton, lives on a 535,000-acre ranch about 50 miles northwest of Wichita Falls. The US may not have any rich . Richard Kinder- Net worth: $7.2 billion (#309 wealthiest in the world) It was my misfortune as a teenager in the mid-1940s to live in Midland while harboring Odessa preferences in my soul, my character, and my heritage. Like Fort Worth when the late Amon Carter and his ruling pals aged or died, Midland had made few provisions for replacing its natural leaders. Home appreciation the last 10 years has been 18.7%. Fertitta also owns the Golden Nugget Casinos, the Bentley/Rolls dealership in Houstons Galleria, and a couple of hotels down in Galveston, where he got his start working at dads seafood restaurant after school. At U.T. Couldnt pay me to move there.. Red McCombs, who turns 90 on Thursday. We will not share or sell your email address. [emailprotected]. The first billionaire ever is thought to be Standard Oil magnate John D. Rockefeller back in 1916, or perhaps Henry Ford in 1925. The chain-owned Odessa American (a product of Freedom Newspapers, with headquarters in Orange County, California) is the more blunt and strident; the home-owned Midland Reporter-Telegram tends to pussyfoot or hem and haw. Maybe the fundamentalists have had to fire and fall back, but theyre still in there sniping. Jones bought the Dallas Cowboys for $150 million in 1989. Going back, for me, is like coming out on the other side of a Time Machine: it could be 1960 again, or maybe the mid-1950s. Richest child of legendary oil wildcatter H.L. Arguably Fort Worths 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. 12 of 32 13 of 32 #121 (tied) - The Walter Family. Investing in the dusty expanses of West Texas more than 100 years ago has paid off for the Fasken family, which just earned a spot on Forbes list of wealthiest dynasties. Leave them blank to get signed up. In seven deals over seven years Rees-Jones grossed $7 billion. Ann Walton Kroenke: Heir to the Walmart fortune. - Source of wealth: pipelines, #14. Also has invested in a film production studio thats set to release its first movie, a story based on the kidnapping of oil heir J. Paul Getty III, later this year. But its better now, a late-thirtyish Odessa merchant insisted. About all I find to do thereoutside of enjoying the company of a precious few old friendsis drink and hope for an improbable romantic adventure while waiting for my flight to be called; its either that or a big night in the Christian Science reading room. Though fast-food operations offer a variety of delicacies from pizza to barbecue to shrimp to Mexican specialties to chicken broiled, fried, baked, and maybe spanked, it may be safely said that neither Midland nor Odessa offers anything remotely resembling a first-class restaurant; if you asked to see the wine cellar, theyd think you were anticipating a tornado. These plant acquisitions eventually became Westlake Chemical Corp., which is now North America's largest low density polyethylene manufacturer (a component which is used in milk and juice cartons, produce bags and plastic wrap.) Midland so loved Richard Nixon that one almost felt relief when encountering a Scoop Jacksonor even a George WallaceDemocrat. Theres certainly plenty of Texans whohave deep enough moneybags to be in the Forbes 400 but dont showup yetbecause our intrepid reporters (including Noah Kirsch, Michela Tindera,Max Jedeur-Palmgren,Igor Bosilkovski,Yinan Che,Deniz Cam andAndrea Murphy) havent yet nailed down the numbersbeyond a reasonable doubt. Hunt. They finally sold their oil interests in early 2017 to ExxonMobil for $6 billion. For his 60th birthday Bonderman hired the Rolling Stones and Robin Williams. Who are the wealthiest families in Texas? Midland bragged on itself as Headquarters City of the Vast Permian Basin Empire. New hotels, restaurants, country clubs, and housing developments multiplied themselves; street names reflected the new influx: Harvard Drive, Yale Street, Princeton Circle. The heirs of pipeline tycoon Dan Duncan carry a combined net worth of $22.4 billion, which makes them the 10th richest family in the entire. Elon Musk, Tesla and SpaceX CEO, and new Texan, topped the list for 2022 with a. He started with nothing in the oil business but became one of the biggest winners in the shale fracking revolution. This latest boom, thanks in large part tohydraulic fracturing(fracking) drilling technology, is well under way. Alice Walton- Net worth: $59.2 billion (#19 wealthiest in the world) The Basses hold down the No. In early October the NBA approved his $2.2 billion purchase of the Houston Rockets; let the cross-marketing bonanza begin! Bondo got his start working in the family office of Fort Worth billionaire Robert Bass. Forbes acknowledged the list may not have been "absolutely correct" and published that it chose to be ultraconservative in its estimates so that all who deserved to be on the list would be included. He went on to work at Kraft Foods and Goldman Sachs, then launched investment group Vista Equity Partners in 2000. 1 richest in Michigan this year, ranking them at 118th worldwide. These are the top 40 wealthiest people in Texas for 2019 Alice Walton (No. Michael Dell- Net worth: $52.5 billion (#23 wealthiest in the world) And you thought getting a prime table at Brasserie 19 on a Friday night made you a power player. The image was there, you see, and our proletariat adversarieswhose town, after all, had been named by foreign-born railroad workers for a town in Russia!zinged us with the vigor of Marxists come to redistribute the wealth. Four generations later, the Fasken family business, Fasken Oil and Ranch, is still making a killing off of West Texas crude.. In doing so, youre agreeing to the below guidelines. It was considered the richest family in the world for much of 1800's. It originated from Frankfurt in the old Holy Roman Empire and the family members have Ashkenazi Jewish ethnicity. Accounting and Finance, Financial Manager, Financial Services. The Lauder family is worth more than $22 billion. But once in a while I wake up in a cold sweat fearin the boom wont last. The current boom, true, has little of the frantic Fifties in it to date; they are not throwing up new steel and stone towers or staying open all night. Americas Richest Families know how to build wealth and maintain it through an ever-changing business climate. 2601 Mariana Ave , Midland, TX 79701-6306 is a single-family home listed for-sale at $249,900. Proud denizens of each community, from bankers to barbers to roughnecks, would feel deprived and robbed to the point of war; there is an almost comic edge to their rivalry, in each communitys assumption that it has the drop and the goods over the other. - Source of wealth: money management, Self Made, #18. In Houston, though, he is probably best known for creating the Woodlands. 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