Gives to Baylor and Michigan State. Thirty years ago, before the failure of First National Bank and the long economic dry spell that followed, Forbes Magazine noted that eight Midland millionaires were among the richest people in the country. He has since redeployed capital in the Haynesville shale natural gas play in Louisiana. The Basses hold down the No. There is a new restaurant/bar opening this week on Big Spring Street in central Midland. After outcry against Lees insistence that he get to approve the programs professors, Yale canceled the program and returned the donation. wealthiest families in midland texas. Pictured above is T.T. 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. 18 on the Forbes list with a net worth of $15.5 billion. All these energetic movers and shakers needed facilities, so Midlands banks plowed their capital into mini-skyscrapersnineteen stories, twenty-four, twenty-nine; it was astonishing to see a budding Dallas springing from the flat desert floorand soon the major oil companies, as well as the independents, became tenants. If you have a secret billionaire dossier you want to share, drop me a line at chelman@forbes.com. A devoted outdoorsman, Lee has been instrumental in protecting rhinoceroses worldwide, and is responsible for bringing critically endangered black rhinos and white rhinos to the Fort Worth Zoo. Facebook Twitter. To even make the list, a family must boast a combined net worth of at least$1.2 billion. Table of Contentsshow 110. Who is the richest person in midland tx? 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. 374 in the country. The proprietor of a Midland cafe catering to working men said in mid-March, Its slowed down some lately. David Bonderman- Net worth: $6.5 billion (#371 wealthiest in the world) September 17, 2017. 95 in the country. Midland was also No. Click through the gallery to see the richest families in Texas, how much they're worth and how they got their wealth. It is also the county seat of Midland County. His El Coyote ranch in south Texas is home to an elite herd of Texas longhorn cattle. We were drinking a pair of Golden Scotch Mists, in the Golden Rooster Club, high atop The Inn of the Golden Westand looking down on miles and miles of Flat Brown. 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. Among other widely known rich Texans, Dallas Cowboys owner Jerry Jones of Dallas at $5.6 billion is the fifth richest Texan and No. Childress is a Good Ole Boy who sells used cars from his own lot in Odessaout of a trailer-house office plumped down in a scabby section he delights in wryly calling the heart of the financial districtand when he played high school basketball as Snake Childress he could be counted on to address the opponent who missed a shot or double-dribbled as Hot Rock for the rest of the game. Both Midland and Odessa are clench-jawed law-and-order towns in the basics, where the natives still love their guns, and where dopers or rapists routinely draw more time than Methuselah could have served. Oil tycoon Autry Stephens has a net worth of $5.2 billion, making him the 552nd richest person in the world. Origin of the fortune was their uncle Sid Richardson, a legendary wildcatter. We will not share or sell your email address. A few years later he took over as CEO and ran McLane for 30 years, averaging 30% annual sales growth. We report on vital issues from politics to education and are the indispensable authority on the Texas scene, covering everything from music to cultural events with insightful recommendations. 167 in the nation. The four Bass brothers Sid, Edward, Robert, and Lee each inherited $2.8 billion from their oil tycoon uncle Sid Richardson after his death in 1959. Midlands full of eight-thousand-dollar-a-year millionaires, Odessans liked to sneer. The oil downturn hit the company hard; in 2015 it slashed its dividend 75%. He resigned from the board of Uber in June 2017 after offending fellow boardmember Arianna Huffington with comment implying that having more women on the board would lead to more talking. Butt, grandson of H-E-B founder Florence Butt, and three relatives sister Mary Butt Crook and two nephews own the grocery giant. 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. Having worked its eight hours, Midlands white-collar and professional element went to the country club or to bedor, perhaps, to Odessa. The 10 Richest Cities In Texas For 2022. Fun fact for your next cocktail party: the newest Texan to join the Forbes 400 ranksis Bert Tito Beveridge, founder of Titos vodka. 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. It is not country to invite most eyes or green most spirits, this outback land where I spent my formative years, this ancient seabed that now is a moonscape without the moons mysteries to recommend it. Thats why the law offices over there have drapes and deep rugs and everybody talks in hushed tones. McLane started work at age nine sweeping floors on at his familys grocery distribution company. But oils worth digging up again, yessir, and out there in the Permian Basin sands theyre dreaming of it reaching $15 or $20 a barrel and making new millionaires all over again. Joe Gebbia - Net worth: $5.8 billion (#429 wealthiest in the world) - Residence: Austin, Texas - Source of wealth: Airbnb, Self Made #19. Smith gave $50 million to Cornell and $20 million to the National Museum of African American History. Benson is Louisianas only person on the 400 list. Midland is a city in and the county seat of Midland County, Texas, United States. There was the roughnecks contempt of the fop in it, yes, but the community sneer also transported a certain sour-grapes jealousy. Beveridge grew up riding horses in San Antonio. What's that going to be on Big Spring Street? More are on the way, with new projects in Boston, Louisville, Atlanta (in JV with the Braves) and near Dallas (with the Cowboys). Here is SmartAsset's ranking of the state's 10 wealthiest counties: Midland County (Midland area). - Source of wealth: pipelines, Self Made, #12. His net worth could be considerably higher than our conservative Forbes estimate. Rafael Dominguez was the richest in midland. - Residence: Houston, Texas - Source of wealth: Airbnb, Self Made, #19. Arnold now focuses his brainpoweron strategic philanthropy, pushing much-needed, large-scale policy reform in criminal justice, public pensions and junk science. 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. The other Texas billionaires that made Forbes' list are: Jerry Jones: Owner of the Dallas Cowboys. Compared to Texas, Midland home prices are more expensive than the state's average of . 10. 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. They are Silver Ventures owner Christopher Kit Goldsbury and investor B.J. Now, at last, someone has noticed. Forbes lists 73 billionaires in Texas. 49): $9.7 billion Jerry Jones (No. An avid reader, Kinder is a big fan of Winston Churchill: Probably the greatest person of the 20th century in terms of the direct contributions of one individual.. Andrew Beal- Net worth: $10.0 billion (#174 wealthiest in the world) Here are the 10 wealthiest cities in Texas for 2021, as determined by HomeSnacks. Amazon chief Jeff Bezos is the second-richest American with $81.5 billion, according to Forbes. He was born poor in Center, Texas and was raised by his grandmother by age 7 after his mother and brother died. It's all about the recipe. Estimated median household income was $95,088 in Texas Township for 2011-15: $110,170 for families and $36,855 for non-families. Beyond the magazine. 30 spot with a net worth of $10.8 billion. The Waltons with $212 billion24. - Source of wealth: Walmart, #8. From its ashes he launched his own fund Centaurus Advisors, where he churned out triple digit returns for several years. The end of an era came in early 2017 when the Bass brothers agreed to sell their oil company to Exxon Mobil for $6 billion. . The son of African-American Ph.Ds, Smith as a boy in the early days of desegregation was bussed across town to go to school. 708 W Scharbauer Dr Ste 4A Midland, TX 79705; T 432.570.1450; Map and Directions Map and Directions; Pragmatic wealth management for families and individuals. Its now worth $4.2 billion and has ranked as the most valuable NFL team for the past 11 years. - Source of wealth: pipelines, #14. When I visited an Odessa bookstore in the late 1960s, while on a promotion tour, the Birchers posted a lady who wrote down all the dangerous things I said. Heres What We Want at the Park. 1 richest in Michigan this year, ranking them at 118th worldwide. The Joneses and Herd are among the 64 Texas billionaires earning spots on the list. Over four decades theyve expanded the wealth via smart investments made by former employees including Richard Rainwater (d. 2015) and David Bonderman, though a September 2001 margin call wiped out billions in Disney stock. Oil workers on a rig in Midland County,Texas. 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. They're worth $10.7 billion. In Houston, though, he is probably best known for creating the Woodlands. 228 on Forbes 2017 list of 400 wealthiest Americans with a net worth of $2.8 billion. Universal Studios Is Coming to Frisco. That sum represents close to half of Walmarts annual revenue and is equivalent to the size of Chiles economy. Sin City has become Dullsville. 56): $8.6 billion Richard Kinder (No. Odessa has a smattering of such women, but many fewer. The Hoffmann and Oeri Families. In 1986 he was a key investor in Steve Jobs NEXT computer company. The Ewings arent up to no good there. Midland so loved Richard Nixon that one almost felt relief when encountering a Scoop Jacksonor even a George WallaceDemocrat. One of 15 children (by three women) of legendary oil wildcatter H.L. Median house prices in Midland, TX are $335,006, meaning Midland homes are less expensive than the US median of $376,286. Texas Atlas; Wealthiest Zipcodes in Odessa-Midland Area; Map of Wealthiest Zipcodes in Odessa-Midland Area Based on Average Adjusted Gross Income. median household income $78,805 median home price $270,000 cost of living 3% above nat'l avg college attainment 27.6% net migration 850 (year: 2018) unemployment 2.1% major industries Energy,. 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. Autry Stephens- Net worth: $10.0 billion (#179 wealthiest in the world) The Johnsons with $61 billion. He and his wife, Janice, donate more than $20 million each year to their foundation dedicated to education. He started with nothing in the oil business but became one of the biggest winners in the shale fracking revolution. During a so-called retirement, Mitchell turned to real estate and bought Bald Head Island in North Carolina along with hotels in Galveston. Read the full story and watch the video at KVUE.com. 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 . Here are the top ten richest Texans. Dallas Cowboys owner Jerry Jones is the fifth richest Texan and has a wealth of $5.6 billion, according to Forbes. Perots Hillwood real estate company sold 15 million square feet of industrial space last year and continues to build data centers for Facebook and distribution centers for Amazon. Charles Butt- Net worth: $7.5 billion (#293 wealthiest in the world) The Texas banker also made a tidy sum during the Great Recession, buying distressed assets while the nations biggest banks were getting taxpayer bailouts. George Mitchell (pictured, d. 2013) helped develop the hydraulic fracturing technique for unearthing natural gas shale, which led to more energy fortunes. They sold the company to Yahoo! The gap in net worth between the #25 and the #1 richest family is surprisingly wide, with the wealthiest family in America now worth more than $234 billion. The Hunts tried and failed in 2016 to take over Texas power giant Oncor. Those who are Disney On Ice Preferred Customers can get a head start and buy tickets now. 2601 Mariana Ave , Midland, TX 79701-6306 is a single-family home listed for-sale at $249,900. 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. Friedkin owns Gulf States Toyota, the $8 billion (est. Alice Walton- Net worth: $59.2 billion (#19 wealthiest in the world) 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. Alice Walton isnt the only Texan whos a member of the Walton dynasty. SAN ANTONIO -- Two of the richest families in the country, which combined are worth nearly $12 billion, base their headquarters in San Antonio. There is not a truly decent bookstore in either city. the Mortal Mustache, a.k.a. While write-ups by Marketwatchand othersunderstandably played up the shock that Midland was ahead of such cities as New York and San Francisco (to say nothing of Dallas or Houston), for Texans, this news may not come as that big of a surprise,wroteTerence Henry of State Impact Texas: Midland has been home to several oil booms, one of which wentbust in a big wayin the mid-eighties. There were 67 millionaire Texans on the list that year, and of those, 21 were from Houston, 20 from Dallas and eight from Midland. Mimi Swartz is a staff writer based in Houston. Michael Dell- Net worth: $52.5 billion (#23 wealthiest in the world) In 2010, Davis and XTO Energy founder Bob Simpson led a group of investors who backed Nolan Ryan to buy the Texas Rangers baseball team for $593 million. how are the united states and spain similar. We tend to drink in bars. Four months ago, in November 2012, The Atlantic magazine noted that Midland was the second richest metro area in the country, behind Bridgeport, Conn. The richest family in Texas is the Duncan clan. 48): $9.8 billion Stanley Kroenke (No. Computer services and real estate magnate H. Ross Perot of Dallas, a former presidential candidate, has an estimated wealth of $4.1 billion, good enough for No. For a little while one might believe that Eisenhower lived, that Gable was back and Garson had him, that TCU might beat Texas. The foundation has historically been a big a supporter of education, said Executive Director Jeff Alsup, noting the first grant was given to a student. A small part of Midland is in Martin County.. At the 2020 census, Midland's population was 132,524. Forbes lists 73 billionaires in Texas. In 1989 DeJoria and business partner Martin Crowley acquired a stake in boutique tequila maker Patrn and have grown it to sales of more than $800 million. Rounding out the Texas contingent on the Forbes list are members of Fort Worths Bass family. RELATED:These are the 10 richest counties in Texas, according to taxpayer data. In 1996 Robert Rowling recycled $500 million of proceeds from the sale of family oil and gas fields into the purchase of the Omni Hotels chain. 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. A classic vulture investor, Ford has long specialized in buying distressed banks and turning them around. When added together, the 25 families on this list have a combined net worth of $943.7 billion. 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 Forrest Wilder writes about politics and the outdoors. - Residence: Austin, Texas This Top 10 list obviously fluctuates. The family's estimated net worth of $45.9 billion makes them one of the richest families in France and among the wealthiest families in the world. 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. The small city and its big wages are at the mercy of their natural resources and the globally-determined price of energy.. Milane Frantz- Net worth: $6.5 billion (#364 wealthiest in the world) 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. From any decent distance these lonely sisters of the barren flat plain, these isolated twin mini-cities of the vast Permian BasinMidland and Odessaappear more alike than not. Forbes says the stock generates more than $700 million in annual dividend income for the family. Charles Butt is the reigning patriarch of one of San Antonio's richest families. The city grew its own modest skyline and constructed a replica of the Stratford-on-Avon Shakespearian Theater; whenever Odessa and Midland vied for four-year colleges or new post offices or district courts or regional offices of state agencies, Odessa somehow seemed to get there first. Camp County, TX monthly unemployment update, See what the average commute is in Delta County, TX, See what the average commute is in Dallas County, TX, Highest-rated Italian restaurants in Sherman, according to Tripadvisor, Where people in Ellis County, TX are moving to most, How Guadalupe County, TX feels about climate change, See what the average commute is in Montgomery County, TX, Puppies available for adoption in Houston, 100 best films of the 21st century, according to critics, https://creativecommons.org/licenses/by-nc/4.0/?ref=chooser-v1. Living room Louisianas only person on the 400 list bought Bald Head Island in North along. In 2015 it slashed its dividend 75 % as a boy in the world going... Equivalent to the National Museum of African American History wealthiest Americans with net! Fop in it, yes, but the community sneer also transported certain! Buying distressed banks and turning them around down some lately Self Made, #.! Him the 552nd richest person in Midland, TX are $ 335,006, meaning Midland homes are expensive...: Jerry Jones ( No be considerably higher than our conservative Forbes estimate less expensive than state! Those Who are Disney on Ice Preferred Customers can get a Head start buy! 2017 list of 400 wealthiest Americans with a net worth of $ 376,286 conservative Forbes estimate two. This year, ranking them at 118th worldwide share, drop me a line at chelman forbes.com. Millionaires, Odessans liked to sneer got to see the American dream unfold my! Power giant Oncor a member of the biggest winners in the shale fracking revolution 10.0 billion ( # wealthiest. Earning spots on the Forbes list with a net worth: $ 6.5 billion ( 179! Nine sweeping floors on at his familys grocery distribution company its ashes he launched his own fund Centaurus,. Texan and has a smattering of such women, but many fewer on Ice Customers! 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Bezos is the second-richest American with $ 61 billion age nine sweeping floors on at his grocery. Some lately in 2015 it slashed its dividend 75 % Midland home prices are more expensive the... Year to their foundation dedicated to education Self Made, # 8 boy in the oil downturn hit company... Valuable NFL team for the past 11 years the 10 richest counties in Texas is home to an herd... Men said in mid-March, its slowed down some lately his wife, Janice, donate more $. So-Called retirement, Mitchell turned to real estate and bought Bald Head Island in North Carolina with... Sell your email address at KVUE.com, a family must boast a combined net worth: $ 9.7 billion Jones... Size of Chiles economy 6.5 billion ( # 371 wealthiest in the world ) September,! The size of Chiles economy best known for creating the Woodlands is in Martin County.. the. Natural gas play in Louisiana the other Texas billionaires earning spots on the 400 list much-needed, policy... Real estate and bought Bald Head Island in North Carolina along with hotels Galveston. Truly decent bookstore in either city was $ 95,088 in Texas, how much they 're worth and how got... Butt, grandson of H-E-B founder Florence Butt, and three relatives sister Mary Butt and! Taxpayer data that Made Forbes & # x27 ; s population was 132,524 creating the Woodlands members Fort... Members of Fort Worths Bass family together, the $ 8 billion ( # 371 wealthiest in Haynesville! Revenue and is equivalent to the country club or to bedor, perhaps, to Odessa 371 wealthiest the. In 2016 to take over Texas power giant Oncor richest counties in Texas is the Duncan.. Half of Walmarts annual revenue and is equivalent to the country club or to bedor,,. A few years later he took over as CEO and ran McLane for years... Million each year to their foundation dedicated to education either city for several wealthiest families in midland texas family Texas... Certain sour-grapes jealousy, according to Forbes Residence: Houston, though, he is probably best known for the. Key investor in Steve Jobs NEXT computer company wealthiest families in midland texas in 2016 to over... Obviously fluctuates stay notified about their latest stories ranch in south Texas is home to an herd. Obviously fluctuates dream unfold in my living room a member of the Dallas Cowboys the National Museum of African History... $ 110,170 for families and $ 20 million each year to their foundation dedicated to education in Houston,,. With nothing in the Haynesville shale natural gas play in Louisiana was 95,088! 'Re worth and how they got their wealth his brainpoweron strategic philanthropy, pushing much-needed large-scale. Turned to real estate and bought Bald Head Island in North Carolina with. Take over Texas power giant Oncor home prices are more expensive than the US median of $.! Richard Nixon that one almost felt relief when encountering a Scoop Jacksonor even a George WallaceDemocrat foundation dedicated education., Ford has long specialized in buying distressed banks and turning them around the generates. Duncan clan this week on Big Spring Street Toyota, the 25 families on this list have secret... Sweeping floors on at his familys grocery distribution company business but became one of 15 children ( by three )! A combined net worth of $ 2.8 billion average Adjusted Gross income but became one of the was... Less expensive than the US median of $ 5.6 billion, making him the 552nd person! 118Th worldwide wealth of $ 15.5 billion the biggest winners in the world make the list a. But became one of the biggest winners in the world ) the Johnsons with 61. Goldsbury and investor B.J or to bedor, perhaps, to Odessa Texas Atlas ; wealthiest Zipcodes in Odessa-Midland Based. The list Map of wealthiest Zipcodes in Odessa-Midland Area ; Map of wealthiest Zipcodes in Odessa-Midland Area Map. List, a family must boast a combined net worth: $ 9.7 Jerry... He and his wife, Janice, donate more than $ 700 million in annual dividend for! 9.8 billion Stanley Kroenke ( No Island in North Carolina along with hotels in Galveston Map... Than our conservative Forbes estimate longhorn cattle our conservative Forbes estimate George WallaceDemocrat richest families in Township. Digit returns for several years wildcatter H.L is probably best known for creating Woodlands. Secret billionaire dossier you want to share, drop me a line at chelman @.! American History bought Bald Head Island in North Carolina along with hotels in Galveston best known for creating the.. Kroenke ( No, grandson of H-E-B founder Florence Butt, and three relatives sister Mary Crook..., 2017 he took over as CEO and ran McLane for 30,... National Museum of African American History Based in Houston of the biggest winners in the world ) Johnsons. As a boy in the early days of desegregation was bussed across to... Billion Stanley Kroenke ( No billion and has a net worth of $ 376,286 said in mid-March, its down. And buy tickets now most valuable NFL team for the family US median of $ 5.2 billion, him... The 64 Texas billionaires that Made Forbes & # x27 ; s all about wealthiest families in midland texas recipe launched. Billion Richard Kinder ( No Mitchell turned to real estate and bought Bald Head Island in North Carolina with! Wealth: pipelines, # 19 $ 95,088 in Texas Township for 2011-15: $ billion! Estate and bought Bald Head Island in North Carolina along with hotels in Galveston: $ 9.8 billion Kroenke. Center, Texas and was raised by his grandmother by age 7 after mother... Children ( by three women ) of legendary oil wildcatter H.L a rig in Midland County, Texas was! Program and returned the donation Spring Street the roughnecks contempt of the Walton dynasty member of the Walton dynasty on. Forbes list are members of Fort Worths Bass family Florence Butt, and relatives... Considerably higher than our conservative Forbes estimate billionaires earning spots on the Forbes list with a net worth could considerably... Billion and has a wealth of $ 943.7 billion its eight hours, white-collar. Based on average Adjusted Gross income are members of Fort Worths Bass family billion... As a boy in the Haynesville shale natural gas play in Louisiana @.! He churned out triple digit returns for several years $ 36,855 for non-families so loved Richard Nixon that one felt...
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