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Dallas-Fort Worth billionaire loses crown as richest person in Texas, Forbes says

Alice Walton is no longer the richest person in Texas.

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Eclectic entrepreneur Elon Musk has officially knocked Walmart heiress Alice Walton of Fort Worth off her longtime perch as the richest person in Texas.

On April 6, Forbes released its 2021 list of the world’s billionaires. Musk, CEO of Tesla and SpaceX, landed at No. 2 globally with a net worth of $151 billion. He sat at No. 31 in last year’s ranking. Forbes lists Musk’s place of residence as Austin, although he hasn’t confirmed where in Texas he settled last year.

Now at No. 2 in Texas is Walton, whose net worth is $61.8 billion. That puts her at No. 17 on the global list.

Walton is the only daughter of Walmart founder Sam Walton; as of December 2020, the Walton family still reigned as the richest family in the U.S., with Alice Walton's wealth accounting for a little over one-fourth of the family fortune.

The only other Texan who comes close to Musk and Walton in the Forbes ranking is Michael Dell. The chairman and CEO of Round Rock-based Dell Technologies boasts a net worth of $45.1 billion. That places him at No. 30 on the global list and No. 3 in Texas.

In all, the Forbes list features 64 Texas billionaires collectively worth $460.1 billion. (What pandemic?) Among the state’s metro areas, Dallas-Fort Worth leads with 27 billionaires, followed by Houston (17), Austin (10), and San Antonio (three).

Aside from Walton, These Dallas-Fort Worth billionaires have made the 2021 list. The list includes their source of wealth, global ranking, and estimated net worth.

Dallas:

Jerry Jones, Dallas Cowboys owner, No. 264, $8.9 billion
Andy Beal, banking and real estate, No. 311, $7.9 billion
Mark Cuban, online media and Dallas Mavericks owner, No. 655, $4.4 billion
Ray Lee Hunt, oil and real estate, No. 680, $4.2 billion
Margot Birmingham Perot, technology and real estate, No. 705, $4.1 billion
Trevor Rees-Jones, oil and gas, No. 727, $4 billion
Robert Rowling, Omni Hotels and Gold’s Gym, No. 752, $3.9 billion
Kelcy Warren, pipelines, No. 891, $3.4 billion
H. Ross Perot Jr., real estate, No. 1,174, $2.7 billion
Gerald Ford, banking, No. 1,249, $2.5 billion
Ray Davis, pipelines, No. 1,517, $2.1 billion
W. Herbert Hunt, oil, No. 1,580, $2 billion
Todd Wagner, online media, No. 1,664, $1.9 billion
Stephen Winn, real estate services, No. 1,664, $1.9 billion
Kenny Troutt, telecom, No. 2,035, $1.5 billion
Darwin Deason, software, No. 2,141, $1.4 billion
Timothy Headington, oil and gas/investments, No. 2,141, $1.4 billion
A. Jayson Adair, car salvage business, No. 2,674, $1 billion

Fort Worth:

Robert Bass, oil and investments, No. 550, $5.1 billion
David Bonderman, private equity, No. 705, $4.1 billion
Sid Bass, oil and investments, No. 1,064 $2.9 billion
Donald Horton, homebuilding, No. 1,299, $2.4 billion
Edward Bass, oil and investments, No. 1,444, $2.2 billion
Lee Bass, oil and investments, No. 1,664, $1.9 billion
John Goff, real estate, No. 2,263, $1.3 billion

Mark and Robyn Jones of Westlake, who derive their wealth from the insurance industry, appear at No. 1,249 on the Forbes list with an estimated net worth of $2.5 billion.

Here is a breakdown of Texas billionaires in other major cities:

Austin:

Elon Musk, Tesla and SpaceX, No. 2, $151 billion
Michael Dell, technology, No. 30, $45.1 billion
Robert F. Smith, private equity, No. 451, $6 billion
Bert “Tito” Beveridge, vodka, No. 622, $4.6 billion
Thai Lee, information technology, No. 956, $3.2 billion
Joe Liemandt, software, No. 1,008, $3 billion
John Paul DeJoria, hair care and tequila, No. 1,174, $2.7 billion
Jim Breyer, venture capital, No. 1,249, $2.5 billion
David Booth, mutual funds, No. 1,750, $1.8 billion
Whitney Wolfe Herd, Bumble dating app, No. 2,263, $1.3 billion

Houston:

Richard Kinder, pipelines, No. 369, $7 billion
Dannine Avara, pipelines, No. 451, $6 billion
Robert Brockman, software, No. 451, $6 billion
Scott Duncan, pipelines, No. 451, $6 billion
Milane Frantz, pipelines, No. 451, $6 billion
Randa Duncan Williams, pipelines, No. 451, $6 billion
Tilman Fertitta, Houston Rockets owner/food/entertainment, No. 622, $4.6 billion
Dan Friedkin, Toyota dealerships, No. 705, $4.1 billion
Janice McNair, Houston Texans owner and energy, No. 705, $4.1 billion
John Arnold, hedge funds, No. 925, $3.3 billion
Jeffery Hildebrand, oil, No. 1,580, $2 billion
Leslie Alexander, former Houston Rockets owner, No. 1,750, $1.8 billion
Fayez Sarofim, money management, No. 2,035, $1.5 billion
Jim Crane, Houston Astros owner and logistics, No. 2,141, $1.4 billion
Wilbur “Ed” Bosarge Jr., high-speed trading, No. 2,674, $1 billion

Two billionaires in the Houston suburbs also show up on the list:

Leo Koguan of Sugar Land, information technology services, No. 1,444, $2.2 billion
George Bishop of The Woodlands, oil and gas, No. 1,517, $2.1 billion

San Antonio:

Christopher “Kit” Goldsbury, salsa and private equity, No. 1,833, $1.7 billion
James Leininger, medical products, No. 2,035, $1.5 billion
Red McCombs, real estate/oil/car dealerships/sports/radio, No. 2,035, $1.5 billion

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Politics News

Dallas narrows down field for new city manager to 4 candidates

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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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