It's all about the recipe. Son of a cotton broker from Texarkana and graduate of the U.S. 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. In retrospect it seems a rather remarkable decision, something like Baptist deacons voting to sponsor a dice tournament or girlie show. Richest child of legendary oil wildcatter H.L. Theres nothing like family money. Per capita income: $126,631; median home value: $279,569; Per capita investment income:. Forrest Wilder writes about politics and the outdoors. Most Dangerous Places In Texas; Best Places To Raise A Family In Texas; Detailed List Of The Richest Cities In Texas. It features a 100,000 gallon cistern to collect stormwater for irrigation. McNair secured the NFL franchise for Houston for $700 million in 1999 and created the leagues youngest expansion team. The Wertheimers with $62 billion. - Residence: Houston, Texas But Midlands citizens had sunk everything they had in the future, John Howard Griffin wrote in his Land of the High Sky, and [they] did not want the rest of the world to know the true situation. 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. As early as 1950though the fact then was obscured by the runaway boomits formerly vigorous old-timers began to lose their visions and their grips. Midland opted to become the financial center. Not that Odessa was entirely innocent; it, too, knew its despotic employers who watched clocks, attitudes, and otherwise meddled in private lives. The prostitutes and con men and knob-knockers are comin back. In 2015 Sid reportedly bought actor Patrick Dempseys estate in Malibu for $15 million. 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. 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. The Ambanis with $94 billion. 's son Albert, who serves as CEO. Hunt. But, hell, a barber says, you can hold two jobs if youre willin to work. Long before his presidential campaigns (1992 and 1996), Perot was a salesman for IBM. - Source of wealth: pipelines, #16. In 1986 he was a key investor in Steve Jobs NEXT computer company. in 1984. Tilman Fertitta. Politically, this is bedrock conservative territory with the nut wing among Rightists well-represented. - Source of wealth: Airbnb, Self Made, #19. Accounting and Finance, Financial Manager, Financial Services. In recent years hes been investing in oil. 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. Neither of these now are particularly warm townsthough Odessa, in day-to-day living, may come closer to giving that impression. 17 overall: Alice Walton $44.4 billion Fort. People in Midland are called Midlanders. In early October the NBA approved his $2.2 billion purchase of the Houston Rockets; let the cross-marketing bonanza begin! Photographer: Jin Lee/Bloomberg. The magazine now counts Butts money as part of a family fortune that rivals the Rockefellers at $11 billion. They built a consortium with rich Saudis that accumulated 195 million ounces. Such natural conservative reflexes as were handed down by the regions original settlers (independent, isolationist critters willing to risk a raw country in exchange for individual opportunities) have been reinforced, and continue to be reinforced, by the one-note drummings of what Harry Truman called the one-party press. Of course, the safely monopolistic newspapers in each city fail to run the risks of the early-day pioneershell, they dont even run the risks of that competitive Free Enterprise system they so doggedly recommend to the rest of usas they preach against meddling Feds, Godless Reds, labor unions, and government spending or sapping taxations at all levels. A classic vulture investor, Ford has long specialized in buying distressed banks and turning them around. 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.. The US may not have any rich . The $3.8 billion Dakota Access Pipeline is only the latest addition to the Energy Transfer empire founded by Warren and Ray Davis in 1995. The Mars family with $142 billion. 163 with a $1.5 billion combined net worth. The late Ting Tsung "T.T." Working with Airbus, Aerion seeks to build the first supersonic business jets. We analyzed 349 places in Texas to determine where the 1% live. Estimated median household income was $95,088 in Texas Township for 2011-15: $110,170 for families and $36,855 for non-families. 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. 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 . Benson built some of his wealth in San Antonio with car dealerships and banking before moving to New Orleans in the 1980s after buying the NFLs New Orleans Saints. In 2013, with his wife Anne, he donated $50 million to Duke University to support interdisciplinary studies aimed at tackling complex societal problems. What's that going to be on Big Spring Street? But in 2012, its Midland, rather than Dallas, that is the top symbol of Texas wealth. 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 U.S. Fertitta, a dropout from the University of Houston, is now president of its board of regents. #20. Between 2019 and 2020 the population of Midland, TX grew from 138,549 to 141,194, a 1.91% increase and its median household income grew from $79,329 to $83,616, a 5.4% increase. Midland 101: Eight Midlanders on list of wealthiest in 1982. The proprietor of a Midland cafe catering to working men said in mid-March, Its slowed down some lately. Some I've been cooking for years, decades even, others I have . The Hunt family, whose members are descendants of oil wildcatter H.L. This latest boom, thanks in large part tohydraulic fracturing(fracking) drilling technology, is well under way. That got the attention of his friend Sam Walton, who in 1991 bought McLane for $50 million plus 10.4 million shares of Walmart. Investor Warren Buffett is the third-richest American with $78 billion, according to Forbes. Get more of Dallas top restaurant, real estate, society, fashion and art in your news feed. 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. The richest family in Texas is the Duncan clan. Heres What We Want at the Park. The team is now valued at $5.5 billion. In 1913, David Fasken Sr., a Canadian lawyer, purchased a ranch in West Texas that was later discovered to straddle a sea of Permian Basin oil, according to Forbes. The Frozen portion of the program will be narrated by Olaf while ice skaters transform the story of Anna, Elsa, Kristoff, and Sven across the rink. (No one has yet. 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. - Source of wealth: money management, Self Made, #18. They did not urge money on you just because you wanted to hunt oil or thought you knew where to find it. 2601 Mariana Ave , Midland, TX 79701-6306 is a single-family home listed for-sale at $249,900. There is a new restaurant/bar opening this week on Big Spring Street in central Midland. I deduced that Odessans failed to feel the Midland compulsions that require all loyal sons and daughters to show enthusiasm for its community projects in the name of vague, blowsy mutual Good. David Bonderman 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. "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. 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. 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. 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. Michael Dell of Dell Technologies in Austin is the second-richest Texan with $23.2 billion, according to Forbes. Movies reach these Permian Basin precincts only after much aging in the can. Ken Fisher- Net worth: $6.2 billion (#396 wealthiest in the world) This despite the fact that Hugh Roy Cullen gave away an estimated 95 percent of his wealthbefore he died. Dimitrios Kambouris/Getty Images. together, those eight midlanders had a combined estimated total wealth of $2.45 billion, and included cy wagner and jack brown, each with a personal wealth of $550 million; carlton beal ($400. Robert Bass - Net worth: $5.06 billion 47. Amazon chief Jeff Bezos is the second-richest American with $81.5 billion, according to Forbes. Houston's richest families are not just throwing money away. Couldnt pay me to move there.. - Residence: Austin, Texas 10. Hunt started his family's fortune when he . as well as image rights, data visualizations, forward planning tools, Here are the 10 richest cities in Texas based on per capita income. The Ewings arent up to no good there. And like the British, theyve tried to improve the lot of the natives. Tom Benson of New Orleans is ranked at No. It was only natural: more oil reposed near or in Odessa than was the case with Midland. If your organization is interested in becoming a Stacker 1 of 32 Click through the gallery to see the richest families in Texas, . One can trace back this legitimate difference in stylesif not to root beginningsat least to the late 1930s or early 1940s when geologists began to suspect that the two desert townsonly eighteen miles apart and then of fewer than 10,000 people eachsat smack in the middle of a rich oil pool. 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. 10 min read In this article, we will be taking a look at the 30 wealthiest. Authorities issued an update just before 1 a.m. Wednesday . The median home cost in Midland is Real Estate: $261,500. 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. This new true wealth list complied by Forbes magazine includes 19 Texas families whose influence is undeniable. The other Texas billionaires that made Forbes' list are: Jerry Jones: Owner of the Dallas Cowboys. Randa Williams is non-executive chairman of Enterprise Products, which owns 50,000 miles of pipeline, market cap $56 billion. September 2022 Reader Quiz: What Did You Learn? 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. It is more, somehow, than neighbors fighting for their respective shares of a common economic pie, and more than communities routinely tussling to see who lands the four-year college or gets to brand its name on a shared airportthough these, certainly, are part of the traditional squabbling. In 2020, Midland, TX had a population of 141k people with a median age of 31.4 and a median household income of $83,616. The richest among them are billionaires Ray Lee Hunt and W. Herbert Hunt, both of Dallas. In Aspen, Colo. he owns a 1,000-acre ranch that used to belong to John Denver. In 1991 Lee donated $20 million to alma mater Yale for a new program in Western Civilization. 3 is Berkshire Hathaway investor Warren Buffett at $65.5 billion. Nationally written articles on the petroleum industry were not uncommon in the 1950s and the town experienced its first huge population boom brought on by the discovery of the Spraberry. 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