Very fortunate

Low-profile DFW billionaire reigns as the richest woman in the world

Alice Walton has a net worth estimated at $59 billion.

Photo courtesy of Wal-Mart

Fort Worth’s Alice Walton may keep a relatively low profile, but she’s got a high profile when it comes to her stature among the world’s billionaires.

A new ranking from China’s Hurun Report puts Walton at No. 1 among the world’s richest women and at No. 12 overall, with a net worth estimated at $59 billion as of January 31. She’s one of the heirs to the Walmart retail fortune.

In all, nearly 16 percent of the billionaires on the 2020 list are women.

Walton lands one spot ahead of Democratic presidential candidate and former New York City mayor Michael Bloomberg, whose net worth is estimated at $58 billion.

Walton sat at No. 18 on Hunan’s 2019 list, meaning she climbed six spots from last year to this year. Over the past five years, Walton has padded her wealth by $20 billion to $30 billion, according to the 2020 Hunan Report, released February 26.

Walton and her relatives reign as the world’s richest family, with a cumulative net worth of $208 billion as of January 31, the report says.

Three places behind Walton on this year’s list is the world’s second-richest woman, Françoise Bettencourt Meyers. With an estimated net worth of $56 billion, the L’Oreal cosmetics heiress and her family rank 15th overall.

The world’s third-richest woman, according to the Hunan Report, is MacKenzie Bezos, ex-wife of Amazon founder and CEO Jeff Bezos. Her estimated net worth of $44 billion puts her in a tie for 22nd place worldwide.

The latest ranking from Forbes magazine lists Meyers as the richest woman in the world, holding down the No. 13 spot with a fortune estimated at $54.3 billion. Forbes puts Walton at No. 15 ($51.8 billion) and MacKenzie Bezos at No. 22 ($38.4 billion).

More Texans on the list
The second-ranked Texan on the Hunan list is Austin’s Michael Dell, chairman and CEO of Round Rock-based Dell Technologies Inc. At $28 billion, he’s tied for the No. 35 spot worldwide.

Parked at No. 3 in Texas and No. 68 globally are Dallas’ Elaine Marshall and her family, with an estimated net worth of $17 billion. The Marshalls control a hefty stake in Wichita, Kansas-based conglomerate Koch Industries.

Tied at No. 4 in Texas are Dallas banker and real estate investor Andy Beal, and West Texas sports mogul Stan Kroenke. With an estimated fortune of $9.4 billion, each appears at No. 194 on Hunan’s global list.

With an estimated net worth of $7.2 billion, Dallas Cowboys owner Jerry Jones ranks sixth in Texas and ties for 281st worldwide. (Since Beal and Kroenke are tied at No. 4, there is no fifth-ranked Texan.)

At No. 7 in Texas and No. 347 globally is Ann Walton Kroenke, wife of billionaire Stan Kroenke and an heir to the Walmart fortune. She has an estimated net worth of $6.2 billion.

Omni Hotels and Gold’s Gym honcho Robert Rowling of Dallas claims the No. 8 ranking in Texas and ties for No. 408 worldwide. His fortune is estimated at $5.6 billion.

Houston pipeline baron Richard Kinder stands at No. 9 in Texas and ties for No. 415 globally, with a net worth estimated at $5.5 billion.

Energy magnate Trevor Rees-Jones grabs the No. 10 spot in Texas and ties for the No. 425 spot worldwide. The Hunan Report pegs his net worth at $5.4 billion.

With an estimated fortune of $5.1 billion, tequila and hair care entrepreneur John Paul DeJoria of Austin checks in at No. 11 in Texas and ties for No. 464 globally.

Houston pipeline heirs Scott Duncan and Randa Williams are tied at No. 12 in Texas and No. 482 worldwide. Each has a net worth estimated at $5 billion. Their two Houston siblings, Dannine Avara and Milane Frantz, share the No. 14 spot in Texas and the No. 493 spot globally. Each has an estimated net worth of $4.9 billion.

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Politics News

Dallas narrows down field for new city manager to 4 candidates

Photo by R K on Unsplash

This is an Dallasite's sign to launch that small business they've been dreaming of.

After six months without a city manager, the city of Dallas has narrowed down the field of replacements to four semifinalists including one serving as current interim city manager, plus candidates from Fort Worth, Michigan, and Georgia.

Dallas has been without a city manager since May, when previous city manager T.C. Broadnax left to take a job with the city of Austin. Since that time, Broadnax's former chief of staff Kimberly Bizor Tolbert has served as interim city manager.

The city retained Baker Tilly, a consulting firm, to recruit and compile candidates. (Baker Tilly famously erred in the brochure it created for the position by featuring a photo of the Houston skyline instead of Dallas; they've since replaced it with Dallas.)

A spokesperson for Baker Tilly did not respond to inquiries but according to D Magazine, an email listing the candidates has been sent to the Dallas City Council.

The semifinalists include:

Kimberly Bizor Tolbert, Dallas’ current interim city manager
William Johnson, an assistant city manager in Fort Worth
Mark Washington, the city manager of Grand Rapids, Michigan
Zachary Williams, a county chief operating officer in Georgia

All have more than 25 years' of public administration experience and have worked in similar capacities in their respective cities.

Before working in Fort Worth, Johnson was Baltimore’s transportation director and Atlanta’s deputy chief operating officer and public works commissioner.

Washington worked in Fort Worth and Austin before becoming Grand Rapids’ city manager.

Williams has mostly worked in Georgia at the county level, including serving as county manager in Fulton County and chief operating officer in DeKalb County.

Tolbert began working for the city in 1998, first as the city manager’s assistant and later in the aviation department. Broadnax hired her as his chief of staff in 2017.

Unlike the Mayor and the Dallas City Council, the city manager position in Dallas is not elected but is instead appointed by the city council, and is tasked with executing policies, overseeing the annual budget, and managing staff at city hall.

The council’s Ad Hoc Committee will choose finalists, introduce them to the public, and make an offer in early 2025.

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