When Midland was a windmill town, in the late 1880s, its town boosters and Texas and Pacific railroad officials made a decision that may still haunt it: they refused to seek government emergency aid, while others did, during a disastrous two-year drought that starved cattle herds and dried up water holes. Working with Airbus, Aerion seeks to build the first supersonic business jets. Accounting. Everybody played a lot of golf and drank martinis. But if you could show decent prospectsa hopeful geological survey, proximity to earlier drilling successes, an option to explore where the signs looked goodthen Midlands banks would finance you to their long-term profit. Such appreciations of the arts or high fashion or gracious living as may attend these wildswell, probably theyre traceable to the Midland Women. With a 2023 population of 138,938, it is the 25th largest city in Texas and the 213th largest city in the United States. Various lists of the richest families in the world (excluding royal families or autocratic ruling dynasties) are published internationally, by Forbes as well as other business magazines.. 1 of 32 Click through the gallery to see the richest families in Texas, . Midland opted to become the financial center. 11): $51.4 billion Michael Dell (No. Waxing philosophical during a press conference for Sundance Square, he once said, Wealth is not, you know, a matter of money. They are Silver Ventures owner Christopher Kit Goldsbury and investor B.J. Defensive of his rep: If someone tells me my brand isnt a craft-distilled spirit because its too big, I just say, I make it the same way Ive always made it. Here are the 10 richest cities in Texas based on per capita income. I thought it a pretentious place, one excessively concerned with form and appearance, one full of fake camaraderie and gimlet-eyed hustlers bent on getting the buck. Its now worth $4.2 billion and has ranked as the most valuable NFL team for the past 11 years. November 2022 Reader Quiz: What Did You Learn? Benson is Louisianas only person on the 400 list. 15 on the national list; their source of wealth . Midland lawyers drink at home. He is not merely generalizing his own example: my Midland friends, lawyers or otherwise, invite me to their homes; Odessa chums transport me to, or meet me in, public places. In 1986 he was a key investor in Steve Jobs NEXT computer company. 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. People in Midland are called Midlanders. Real-time data from Forbes' billionaire list includes notable names such as Dallas Cowboys' owner Jerry Jones, Shark Tank's Mark Cuban, and Walmart heiress Alice Walton. Welcome to Palo Pinto, Texass Next State Park, The Photo the Dallas Cowboys Never Wanted the Public to See, The Top 50 Texas BBQ Joints: 2021 Edition, Please Do Not Touch the Toxic Toupee, a.k.a. Oil tycoon Autry Stephens has a net worth of $5.2 billion, making him the 552nd richest person in the world. El Paso, Temple, Brownsville and The Woodlands all make the cut with one billionaire each. One also may wonder where Odessa ends and Midland begins, or vice-versa: couldnt you lump the sister cities in a single heap and call them Midessa, possibly without even their Chambers of Commerce noticing? storytelling. Not all of Texas ber-wealthy families built their fortunes off energy and oil, though. Quote: Private equity is not immune to market forces. Now removed from the day-to-day action, Kinder is focused on giving it away. In their first big deal they turned a $66 million bet on foundering Continental Airlines into a $640 million profit. By specializing in squeezing more oil and gas out of mature fields, he has built Hilcorp into the nations biggest privately owned oil company with operations in Texas, Louisiana, Alaska and Ohio. To be a police reporter there was to visit the hospital emergency room oftengreat were the stabbings and shootings and simple country butt-stompsand to find the jails bursting at the seams. Not that its like it was in the early Fifties; the towns not a wide-open sinkholebut were keepin an eye on it. Midland, too, has known its drilling activity; as in the older time, however, it fails to bustle in concert with Odessas tempo. 49): $9.7 billion Jerry Jones (No. Unless you crave country music or studio evangelists or thirteen super-loud and frantic commercials per six minutes, you have small use for your West Texas radio. Michael Dell of Dell Technologies in Austin is the second-richest Texan with $23.2 billion, according to Forbes. July 8, 2014. To that end, most Stacker stories are freely available to Midlands full of eight-thousand-dollar-a-year millionaires, Odessans liked to sneer. Weaving together the multigenerational sagas of the industry's four wealthiest families, Burrough brings to life the men known in their day as the Big Four: Roy Cullen, H. L. Hunt, Clint Murchison, and Sid Richardson, all swaggering Texas oil tycoons who owned sprawling ranches and mingled with presidents and Hollywood stars. They say money can't buy happiness, but it sure can buy many other things. High school football was, I think, a legitimate cultural and psychological measuring stick of that time and that place: many of us concluded that Odessa was, indeed, the rawer and the tougher community. Ford has a 15% stake in publicly traded Hilltop Holdings, which owns PlainsCapital Bank and insurer National Lloyds Corp. Hes the majority shareholder of Mechanics Bank in California. The man behind Titos vodka, of which he sells an estimated 44 million bottles per year. Alice Walton, daughter of Walmart founder Sam Walton, is the richest Texan with $38.4 billion, according to Forbes. Among other widely known rich Texans, Dallas Cowboys owner Jerry Jones of Dallas at $5.6 billion is the fifth richest Texan and No. . A lot of em came out here fresh from the proper schools back East, married to husbands farmed out to protect second- or third-generation family investments or to serve some corporate interest back there. 163 with a $1.5 billion combined net worth. Sold his majority stake in the Houston Astros in 2011 to Jim Crane. sales) car distributor built by his father, Thomas (d. 2017) that enjoys exclusive rights to sell Toyotas in Texas, Arkansas, Louisiana, Mississippi and Oklahoma. The two towns are much the products of their histories, says Odessa trial lawyer Warren Burnett. See Kelcy Warren above, with whom Davis first teamed in 1993 to build Cornerstone Natural Gas, which they sold to El Paso Natural Gas in 1996 before launching Energy Transfer. Rounding out the Texas contingent on the Forbes list are members of Fort Worth's Bass family. Red McCombs, who turns 90 on Thursday. 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. Collectively, the. Ken Fisher - Net worth: $6.4 billion (#391 wealthiest in the world) - Residence: Dallas, Texas - Source of wealth: money management, Self Made. Lives in Dallas. 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. Rank City RichScore Median Income; 1: . After graduation, he worked for Humble Oil . Their combined worth totals $460.1 billion. Also, oil and gas driller Rodney Lewis had a net worth in March of $1.5 billion. I just have a lot more stills.. The first billionaire ever is thought to be Standard Oil magnate John D. Rockefeller back in 1916, or perhaps Henry Ford in 1925. I think they actually believe I am somehow deprived by not living there, that my secret soul must yearn for some missing magic indigenous to Midland and available nowhere else. He owns one of the largest collections of vintage military war planes and is a wildlife conservationist working to preserve 6 million acres in Tanzania. 167 in the. Sid negotiated the deal directly with CEO Rex Tillerson. Odessa, in this particular, shares instincts with Fort Worth; Midland is more of Dallas, serious minded and buttoned down. Here is SmartAsset's ranking of the state's 10 wealthiest counties: Midland County (Midland area). #20. He sold his power generator company Cogen Technologies to Enron for $1.5 billion in 1999, and now invests in public and private equity. Last summer a friend took me to the Odessa Country Club, where the ladies wore silk gowns and high-heels and beehive hairdos; their gentlemen wore white shirts and pinkie rings and had not been tempted by mod hair styles. Autry Stephens- Net worth: $10.0 billion (#179 wealthiest in the world) Did you know? In 2002 he had his first big score when he and billionaire friend Ron Perelman sold Californias Golden State Bancorp to Citigroup for $6 billion in stock. Mark your calendar for a magical day. RELATED:These are the 10 richest counties in Texas, according to taxpayer data. They put all their economic eggs in one basket, depending on a white-collar and professional work force, and they built skyscrapers and housing developments as if the merry boom never would end. Odessa might break my jaw, sure, but Midland, with its socio-economic snobberies, automatic exclusions, and reflexive acquisitive instincts, seemed a threat to break my spirit. Fun fact for your next cocktail party: the newest Texan to join the Forbes 400 ranksis Bert Tito Beveridge, founder of Titos vodka. - Residence: Houston, Texas He also owns ranches in Texas and Flint Hills of Kansas where he is devoted to seeding with native grasses. "Midland residents' personal income per capita was $65,173 in 2011, or roughly $20,000 more than the $41,560 average for U.S. metropolitan areas," as Dan X. McGraw of the Houston Chronicle noted. Missouri City is conveniently located minutes away from Downtown Houston and has all the amenities that the big city has to offer. A big Republican donor, Rowling would prefer to support a Pence/Rubio ticket in 2020. Then after Frozen, the audience will take a journey to Columbia to meet the family from Encanto, the Madrigals. Who is the richest person in midland tx? Growing up, one of his first jobs was fixing broken TVs. The Hunts tried and failed in 2016 to take over Texas power giant Oncor. 18): $32.3 billion Andrew Beal (No. 19 in the country. republish under a Creative Commons License, and we encourage you to Most notable among the oil barons are the Koch brothers, Charles, 78, and David, 73, who top (by a long shot) the list of the wealthiest oil and gas barons (and baronesses) in the United States,. - Residence: Houston, Texas Andrew Beal- Net worth: $10.0 billion (#174 wealthiest in the world) 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. 's son Albert, who serves as CEO. The small city and its big wages are at the mercy of their natural resources and the globally-determined price of energy.. If these families were a country, they'd be the 17th richest nation in the world as these . [emailprotected]. - Residence: Houston, Texas 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. The Cullen family which includes more than 50descendants of legendary oilman Hugh Roy Cullen comes in at No. Hunt, Herbert in the 1970s joined with brother Nelson Bunker Hunt (d. 2014) to try and corner the world silver market. Midland settled down to building a spiffy Little Theater and a symphony orchestra that played in white tieseach with its own imported full-time professional directorand to counting its money and its blessings; its banks and newspapers hired artists and writers to capture the spirit of Midland on canvas and in books. More than once I caused hard feelings and was considered a poor community sport by fighting such ersatz cowboys as they attempted to toy with my civil rights. Origin of the fortune was their uncle Sid Richardson, a legendary wildcatter. Theres got to be a higher purpose to serve in this life, he says. - Source of wealth: oil, Self Made, #5. Pricetag: $120 million. Its banks having risked no big money and its community fathers then lacking Midlands stubborn feverish dreamy boosterisms, it remained a vulgar sprawl of a townthe home of pipe yards, oil-well servicing outfits, tool companies, mud companies, trucking companies, construction companiesmany operating from shacks or Quonset huts. The richest family in Texas is the Duncan clan. One time she wrote about sports. Randa Williams is non-executive chairman of Enterprise Products, which owns 50,000 miles of pipeline, market cap $56 billion. The Ewings arent up to no good there. Odessans might gussy-up their Chamber-of-Commerce Chuck Wagon Gang to feed barbecue in the interest of area trade days, but they knew enough not to put their hands on you or otherwise force participation in their play-actings. SCHOOLS Midland public schools spend $8,665 per student. During the oil downturn Rees-Jones has been picking up royalty interests in the Permian Basin, which he thinks will keep paying out for decades. he earned degrees in geology and geophysics. The 28 richest American families, ranked. By Larry L. King. To even make the list, a family must boast a combined net worth of at least$1.2 billion. Couldnt pay me to move there.. Billionaires are ranked by net worth as of January 3. We told folks, Hell, you cant have disruptive forces in charge of things. Still, the West Texas version of moderation leaves something to be desired. Thats why the law offices over there have drapes and deep rugs and everybody talks in hushed tones. Worth $8.4 billion and the 294th richest person in the world. If you fill out the first name, last name, or agree to terms fields, you will NOT be added to the newsletter list. What he said, however, qualified as apt beer hall social commentary: Midland has had this thing about preserving what already is gone anduntil recent years, anyhowwas the damnedest place for staging Pioneer Days and Frontier Days and such that you ever saw. - Residence: San Antonio, Texas They view their experiences as having suffered some remote outpostas with the British, say, in India. Charles Butt's family, which owns H-E-B, are. (Photo by Kevin C. Cox/Getty Images), in 2011 she opened Crystal Bridges museum. Five years after the 1982 list appeared, the Scharbauer family of Midland requested that it no longer be included in the rankings. One hears of battles breaking out in the public schools over the vital matter of proper Dress Codes, and occasional patriots picket visiting speakers harboring loose ideas. MIDLAND, Texas (KTRK) -- A statewide Amber Alert has been discontinued after it was issued late Tuesday night for an 11-month-old girl. Accounting and Finance, Financial Manager, Financial Services. The Johnsons with $61 billion. Amazon chief Jeff Bezos is the second-richest American with $81.5 billion, according to Forbes. While the U.S. is home to the most billionaires out of any other country, Americans are somewhat split in their feelings on the billionaire class. Michael Dell- Net worth: $52.5 billion (#23 wealthiest in the world) Facebook Twitter. The angry Old Testament God is not dead in the Permian Basin; indeed, He remains healthy and able to extract His vengeances. 67): $7.5 billion Ann Walton Kroenke (No. You buy in the market, you sell in the market. Kids of all ages will be letting it go and not talking about Bruno when Disney On Ice hits the H-E-B Center at Cedar Park in April. His son, H. Ross Perot Jr., also of Dallas, has a fortune of $2.1 billion, ranking No. Jones at Mile High stadium Denver. The PC company that Dell started in his University of Texas at Austin dorm room at 19 is now a hardware and storage juggernaut, Dell Technologies. H.L. Bill Gates, former Microsoft chairman, is the richest American with $89 billion, according to Forbes. Andrew Beal- Net worth: $10.1 billion (#178 wealthiest in . The oil downturn hit the company hard; in 2015 it slashed its dividend 75%. James Leininger, founder of Kinetic Concepts Inc. that is now owner by Apax Partners, had a fortune of $1.3 million. He and his wife, Janice, donate more than $20 million each year to their foundation dedicated to education. As recently as last week, Mayor Wes Perry was a guest on the Stuart Varney Show on the Fox Network, a tradition of national media exposure for Midland that began at least 70 years ago when Life magazine was writing features on both the oil industry and the old Midland bombardier school. Briggs Freeman Sotheby's International Realty Luxury Homes in Dallas Texas DTX Island Time Simpson Property Group SkyHouse DIFFA Lotus Shop Holiday Pop Up Shop Dallas Clothes Circuit DTX Tastemakers 2014 Elite Dental Elan City Lights Dallas Charity Guide DTX Music Scene 2013 One Arts Party at the Plaza J.R. Ewing AMLI Design District Vibrant Living The four children of pipeline mogul Dan Duncan Randa Duncan Williams, Milane Frantz, Dannine Duncan Avara, and Scott Duncan inherited a $10 billion estate from their father when he died in 2010. In 2017 Perot Jr. moved his dad and 250 employees into the 350,000 square foot family office he built on Turtle Creek in Dallas. Even as much as America suffers unaccustomed economic rigors, the sober inheritors of the old Permian Basin are having themselves a first-class oil boom out therethanks to the energy shortage, rising oil prices, and the tough new attitudes of Arabian sheiks. We are a bunch of sweat-hog lawyers over here, getting it on in the courtrooms. Compared to Texas, Midland home prices are more expensive than the state's average of . Fast forward some 100 years to 2021: as the COVID-19 pandemic continued to rage, a record-breaking 660 people became billionaires globally, growing the previous year's number by 30%. descendants of legendary oilman Hugh Roy Cullen comes in at No. Except for Navy service and once trying to hack it at Hardin-Simmons before he lost interest, Childress is native-Odessa to the core; this background guarantees that he thinks lowlier of Midland than of Outer Mongolia. "In 1913, David Fasken Sr., a Canadian lawyer, purchased a ranch in West. In Texas, low oil prices have flatlined the growth in some fortunes, like that of San Antonio natural gas tycoon Rod. 226 in the country. The Basses hold down the No. McNair secured the NFL franchise for Houston for $700 million in 1999 and created the leagues youngest expansion team. Residents in the more upscale half of the Permian Basin make more money per capita than people in New York, San Francisco, Dallas, and Houston. Known to be a sentimental packrat, Perot brought over his 6,000-object collection, including a walking stick purported to have belonged to Osama Bin Ladin. From its ashes he launched his own fund Centaurus Advisors, where he churned out triple digit returns for several years. If your organization is interested in becoming a Stacker Neither of these now are particularly warm townsthough Odessa, in day-to-day living, may come closer to giving that impression. Industry: Finance & Investments Net worth: $2.78 billion According to Forbes, Dallas-based businessman Gerald Ford earned his fortune by purchasing distressed banks. The University of Houston, where buildings and streets bear his name, benefitted most from the Cullen fortune, receiving more than $22 million in gifts. We analyzed 349 places in Texas to determine where the 1% live. Along the clutter of the East Eighth Street dives you could find the sort of action you craved: beer-drinking music, fisticuffs, dice or card opportunities, painted ladies for hire. This geological happenstanceor was it a signal of Gods Texas will?kept the sour, gassy, vomity stink in the air; kept the flares and the sump pits burning at night; kept the fry-cook cafes preparing sack lunches; kept the three-dollar motels full; kept the beer and the adrenaline and the blood flowing; kept the crews working around-the-clock towers. Odessa lighted the dark desert with thousands of flares and hundreds of drilling rig lights; the casual nocturnal passer-by might have judged himself to have stumbled on an undiscovered metropolis. Midland at that time refused to join the Upper Colorado River Authoritya mistake Odessa did not makeand fifteen years would pass before the city, after many costly drilling operations discovering dry holes, found water sources sufficient to encourage modern industry. He also owns the NBAs New Orleans Pelicans. Charles Butt is chairman and CEO of the H-E-B grocery chain, based in San Antonio. Texass Most Venomous Caterpillar. In 1964 Jones was co-captain of the University of Arkansas team that won the national championship. Randa enjoys the highest profile among the four Duncan siblings. It was only natural: more oil reposed near or in Odessa than was the case with Midland. Offshoots from his family investment office include billionaire David Bondermans Texas Pacific Group. Stacker compiled a list of the richest billionaires that are residents of Texas, using data from Forbes. Universal Studios Is Coming to Frisco. The magazine racks recommend a high percentage of detective stories, mechanical manuals, homemaking hints, and almost as many porn offering as Times Square outlets. But it's the Walton family of Fort Worth that once again reigns as the richest family in the U.S. Their net worth: $247 billion. Midland was also No. View more property details, sales history and Zestimate data on Zillow. 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. One of the grand ironies reposed in the barbs of the Odessa High School Bronchos when they administered our annual Thanksgiving Day gridiron thumpings; in so many words they taunted us as rich boys, spoiled sissybritches, and gluttons of privilegenever mind that more than half of Midlands Bulldogs were South Side have-nots whose fathers roughnecked in the oil patch or night-watched and maybe broke wind at the table. For his 70th it was Paul McCartney at Wynn in Las Vegas. After Faskens grandson David Jr. died in 1982, he left the ranch to his wife, Barbara, who took over the company and was recognized in 2003 for her contributions to the family business, according to a previous Reporter-Telegram story. Local parks, elementary schools and business centers bear the Fasken family name today, and there are two charitable foundations tied to different branches of the family. 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. Randa Duncan Williams- Net worth: $6.5 billion (#363 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. Bondo got his start working in the family office of Fort Worth billionaire Robert Bass. Contents 1 Armed forces 2 Arts 2.1 Film, television, and theater 2.2 Journalism and literature 2.3 Music 3 Athletes 4 Business 5 Government and politics 6 Science and technology 7 Other 8 References Hunt. The ranking includes 2,153 people who have a combined wealth of $8.7. Murray Fasken, whose father was a cousin of the family member who started the oil business, established the Fasken Foundation. Later he launched Perot Systems, which Dell bought for $3.9 billion in 2009. - Residence: Austin, Texas 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. 163 with a $1.5 billion combined net worth. - Residence: Austin, Texas Jul 31, 2019, 11:32 AM. Robert F. Smith - Net worth: $5 billion 38. Tilman Fertitta- Net worth: $7.9 billion (#267 wealthiest in the world) - Source of wealth: pipelines, #15. The richest American in 2017 is former Microsoft chairman Bill Gates with an estimated wealth of $81 billion. Man charged with kidnapping, assaulting woman in AMBER alert case, Midland Health: Beat the stress of New Years resolutions in 2023, HS BOYS BASKETBALL: Greenwood loses heartbreaker to Seminole, HS BASKETBALL ROUNDUP: MHS boys get key district road win, Pioneer COO: Oil and Gas in Permian Basin in state of growth, HS GIRLS BASKETBALL: Seminole beats Greenwood to move into 1st. Still awed by his 86-year-old father: I got to see the American dream unfold in my living room. F. Follow this author to stay notified about their latest stories. And you thought getting a prime table at Brasserie 19 on a Friday night made you a power player. 2017 Perot Jr. moved his dad and 250 employees into the 350,000 square family... Near or in Odessa than was the case with Midland working with Airbus Aerion! Past 11 years build the first billionaire ever is thought to be a higher purpose to in. Up, one of his first Jobs was fixing broken TVs that it No longer included. 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From Downtown Houston and has ranked as the most valuable NFL team for the past 11 years D. back! Build the first supersonic business jets prime table at Brasserie 19 on a Friday night Made you a power.. Supersonic business jets based in San Antonio 8,665 per student the four Duncan siblings, market cap $ 56.... Oil business, established the Fasken foundation 1 % live & # x27 ; buy! Meet the family from Encanto, the West Texas version of moderation leaves something be! 2017 Perot Jr. moved his dad and 250 employees into the 350,000 square foot office! List, a family must boast a combined wealth of $ 1.5 billion whose father was cousin! $ 1.5 billion combined net worth the Duncan clan a country, they & # x27 ; family. Concepts Inc. that is now owner by Apax Partners, had a net worth full eight-thousand-dollar-a-year... Perhaps Henry Ford in 1925 me to move there.. Billionaires are ranked by worth...