A couple of months ago, Forbes updated its list of the wealthiest 400 Americans for 2018, with Jeff Bezos appearing at number one for the very first time. Worth some $160 billion, the Amazon founder and CEO finally dethroned Bill Gates, who had held the top spot for a remarkable 24 years straight.
I was particularly interested in learning about the Texans who made the list, including Mark Cuban, Ross Perot, Paul Mitchell-founder John Paul DeJoria, Lewis Energy CEO Rod Lewis and more. I’ve shared with you before my belief that, thanks largely to low taxes and reasonable regulations, there’s no better place in the U.S. to do business than Texas, the home state of U.S. Global Investors. Texas ended up with 38 billionaires on Forbes’ list in 2018, four more than it did the previous year. That’s also the third most of any state, following California (84 billionaires) and New York (73 billionaires). The wealthiest Texan on the list, and 12th richest American overall, was Walmart heiress Alice Walton, worth an estimated $44.9.
But I wanted to know which of those Texans were self-made, unlike Walton. To exclude those whose fortunes were mostly inherited, I cross referenced Forbes’ findings with the Bloomberg Billionaires Index, which measures people on how they make their money. This ruled out individuals like Walton and a few others.
So below is the countdown of the five wealthiest self-made Texans, beginning with number five.
5. Robert Rowling ($5.8 billion)
Robert Rowling is the chairman and owner of Dallas-based TRT Holdings, which holds recognizable brands such as Omni Hotels & Resorts and Gold’s Gym. It also holds the company founded by Rowling’s geologist father, Tana Exploration, which is where he initially made his extraordinary wealth. A Corpus Christi native, the media-shy 65-year-old now lives in Dallas. He and his wife have made significant donations to the University of Texas at Austin and support conservative political causes and candidates.
4. Richard Kinder ($6.6 billion)
Next on our list is Richard Kinder, who made his vast fortune in the oilfields. In 1997 he cofounded the company he’s best known for, Kinder Morgan, which owns and operates tens of thousands of miles of oil and gas pipelines throughout North America. Before that, Kinder served as president and chief operating officer of Enron, the ill-fated energy company that, in 2001, declared bankruptcy after being caught in perhaps the most notorious accounting fraud scheme in U.S. history. Kinder, 74, stepped down as CEO of Houston-based Kinder Morgan in 2015 but remains its executive chairman and largest shareholder.
3. Jerry Jones ($6.9 billion)
Last year marked the 30th anniversary of Jerry Jones’ $140 million purchase of the Dallas Cowboys. Under his leadership, the Cowboys have been the most valuable team in the National Football League (NFL) for over a decade now, worth some $5 billion in 2018, according to Forbes. The 76-year-old Jones’ latest purchase? A “mega-yacht” measuring 360 feet long—about the same size as a football field—that features two helipads and a garage for water vehicles. The yacht’s …read more
Source:: Frank Talk