Ranking the rich

12 Dallas billionaires make Forbes' list of America's richest for 2018

Cowboys owner Jerry Jones is worth an estimated $6.9 billion.

Photo courtesy of Dallas Cowboys

Many try, but no one, it seems, can topple Walmart heiress Alice Walton of Fort Worth from her perch as the wealthiest person in Texas. In fact, her net worth soared by $6.7 billion from 2017 to 2018, according to the latest Forbes 400 list of the richest Americans.

The new Forbes 400 ranking puts Walton, with an estimated net worth of $44.9 billion, atop the list of Texas billionaires and at No. 12 nationwide.

This year, 12 Dallas billionaires land on the Forbes list: Andrew Beal (No. 46), Jerry Jones (No. 75), Robert Rowling (No. 107), Ray Lee Hunt (No. 127, tie), Trevor Rees-Jones (No. 127, tie), Kelcy Warren (No. 136), Ross Perot, Sr. (No. 172), Mark Cuban (No. 190), Gerald Ford (No. 280), Ray Davis (No. 316), W. Herbert Hunt (No. 328), and Ross Perot, Jr. (No. 354).

Walton is joined by four other Fort Worth billionaires on the list. She also happens to be the country’s and world’s richest woman. Last year, Walton ranked 13th nationwide with an estimated net worth of $38.2 billion, up from $35 billion in 2016 and $32 billion in 2016. From 2017 to 2018 alone, Walton’s net worth jumped nearly 18 percent.

Not far behind her on this year’s Forbes 400 — at No. 2 in Texas and No. 17 in the U.S. — is Austin tech titan Michael Dell, whose net worth is estimated at $27.6 billion in 2018, up from $23.2 billion last year. He’s chairman and CEO of the Round Rock-based tech company that bears his name.

For those keeping score, Houston boasts the most billionaires on the Texas list (13), followed by Dallas (12), Fort Worth and Austin (six each), and Brownsville (one). No one from San Antonio appears in this year’s Forbes 400.

Walton and Dell are the only two Texans among the 20 richest Americans. In all, 38 Texans appear in this year’s Forbes 400. Other than Walton and Dell, they are:

Andrew Beal
City: Dallas
Net worth: $9.9 billion
U.S. rank: 46
Source of wealth: Banking, real estate
Notable: Sold Preston Hollow estate in 2017 for $36.2 million

Jerry Jones
City: Dallas
Net worth: $6.9 billion
U.S. rank: 75
Source of wealth: Dallas Cowboys
Notable: Controls NFL’s most valuable franchise, worth estimated $5 billion

Richard Kinder
City: Houston
Net worth: $6.6 billion
U.S. rank: 79 (tie)
Source of wealth: Pipelines
Notable: Through family foundation, donated $70 million for Houston’s Memorial Park

Dannine Avara
City: Houston
Net worth: $6.2 billion
U.S. rank: 88 (tie)
Source of wealth: Pipelines
Notable: Formerly practiced law

Scott Duncan
City: Houston
Net worth: $6.2 billion
U.S. rank: 88 (tie)
Source of wealth: Pipelines
Notable: Is youngest Texas billionaire on list (age 35)

Milane Frantz
City: Houston
Net worth: $6.2 billion
U.S. rank: 88 (tie)
Source of wealth: Pipelines
Notable: Became billionaire after 2010 death of father Dan Duncan

Randa Williams
City: Houston
Net worth: $6.2 billion
U.S. rank: 88 (tie)
Source of wealth: Pipelines
Notable: Chairs board of family-owned energy company

Robert Rowling
City: Dallas
Net worth: $5.8 billion
U.S. rank: 107
Source of wealth: Hotels, investments
Notable: Donated millions of dollars for law and leadership center at Southern Methodist University

Ray Lee Hunt
City: Dallas
Net worth: $5.3 billion
U.S. rank: 127 (tie)
Source of wealth: Oil, real estate
Notable: Chairs board of family-owned businesses

Trevor Rees-Jones
City: Dallas
Net worth: $5.3 billion
U.S. rank: 127 (tie)
Source of wealth: Oil and gas
Notable: Sold University Park estate in 2018

Robert Bass
City: Fort Worth
Net worth: $5 billion
U.S. rank: 134 (tie)
Source of wealth: Oil, investments
Notable: Chairs board of company seeking to develop first supersonic business jet

Kelcy Warren
City: Dallas
Net worth: $4.9 billion
U.S. rank: 136 (tie)
Source of wealth: Pipelines
Notable: “Flunked out” of University of Texas at Arlington but returned to earn engineering degree

Tilman Fertitta
City: Houston
Net worth: $4.5 billion
U.S. rank: 153 (tie)
Source of wealth: Houston Rockets, restaurants, entertainment
Notable: Bought Rockets in 2017 for $2.2 billion

Robert Smith
City: Austin
Net worth: $4.4 billion
U.S. rank: 163 (tie)
Source of wealth: Private equity
Notable: Paid $59 million for three-story New York penthouse in 2018

Ross Perot Sr.
City: Dallas
Net worth: $4.2 billion
U.S. rank: 172 (tie)
Source of wealth: Computer services, real estate
Notable: Is oldest Texas billionaire on list (age 88)

Bert “Tito” Beveridge
City: Austin
Net worth: $4 billion
U.S. rank: 179 (tie)
Source of wealth: Vodka
Notable: Net worth shot up by 60 percent from 2017 to 2018

Dan Friedkin
City: Houston
Net worth: $4 billion
U.S. rank: 179 (tie)
Source of wealth: Toyota dealerships
Notable: Controls largest private company in Houston

Jeffery Hildebrand
City: Houston
Net worth: $4 billion
U.S. rank: 179 (tie)
Source of wealth: Oil
Notable: Sits on University of Texas System Board of Regents

Mark Cuban
City: Dallas
Net worth: $3.9 billion
U.S. rank: 190 (tie)
Source of wealth: Online media
Notable: Owns Dallas Mavericks and is investor on “Shark Tank”

Robert McNair
City: Houston
Net worth: $3.8 billion
U.S. rank: 200 (tie)
Source of wealth: Energy, sports
Notable: Owns Houston Texans

Sid Bass
City: Fort Worth
Net worth: $3.4 billion
U.S. rank: 232 (tie)
Source of wealth: Oil, investments
Notable: Invested millions of dollars in maker of Blue Bell ice cream

John Arnold
City: Houston
Net worth: $3.3 billion
U.S. rank: 239 (tie)
Source of wealth: Hedge funds
Notable: Donated millions of dollars to help survivors of Hurricane Harvey

David Bonderman
City: Fort Worth
Net worth: $3.3 billion
U.S. rank: 239 (tie)
Source of wealth: Private equity
Notable: Chairs board of low-cost Irish airline Ryanair

Joseph Liemandt
City: Austin
Net worth: $3 billion
U.S. rank: 271 (tie)
Source of wealth: Software
Notable: Drove effort to establish nonprofit Ride Austin ride-hailing service

Gerald Ford
City: Dallas
Net worth: $2.9 billion
U.S. rank: 280 (tie)
Source of wealth: Banking
Notable: Donated $20 million to build football stadium at Southern Methodist University

Ray Davis
City: Dallas
Net worth: $2.6 billion
U.S. rank: 316 (tie)
Source of wealth: Pipelines
Notable: Co-owns Texas Rangers

John Paul DeJoria
City: Austin
Net worth: $2.6 billion
U.S. rank: 316 (tie)
Source of wealth: Hair care products, tequila
Notable: Sold 70 percent stake of Patron tequila brand in 2018 for $5.1 billion

William F. Austin
City: Brownsville
Net worth: $2.5 billion
U.S. rank: 328 (tie)
Source of wealth: Hearing aids
Notable: Named Goodwill Global Ambassador for Ear and Hearing Health in 2017

Lee Bass
City: Fort Worth
Net worth: $2.5 billion
U.S. rank: 328 (tie)
Source of wealth: Oil, investments
Notable: Owns two cattle ranches in South Texas

George Bishop
City: The Woodlands
Net worth: $2.5 billion
U.S. rank: 328 (tie)
Source of wealth: Oil and gas
Notable: Owns ranch in South Texas and golf course near Houston

W. Herbert Hunt
City: Dallas
Net worth: $2.5 billion
U.S. rank: 328 (tie)
Source of wealth: Oil
Notable: Named (with wife Nancy) Les Femmes du Monde’s 2016 Couple of the Year

Edward Bass
City: Fort Worth
Net worth: $2.4 billion
U.S. rank: 344 (tie)
Source of wealth: Oil, investments
Notable: Married longtime girlfriend Sasha Camacho in 2017

Thai Lee
City: Austin
Net worth: $2.3 billion
U.S. rank: 354 (tie)
Source of wealth: Information technology
Notable: Runs one of country’s largest woman-owned businesses

Drayton McLane Jr.
City: Houston
Net worth: $2.3 billion
U.S. rank: 354 (tie)
Source of wealth: Walmart, logistics
Notable: Chairs initiative bringing high-speed “bullet” train to Texas

Ross Perot Jr.
City: Dallas
Net worth: $2.3 billion
U.S. rank: 354 (tie)
Source of wealth: Real estate
Notable: Sold Dallas Mavericks to Mark Cuban in 2000

Leslie Alexander
City: Houston
Net worth: $2.1 billion
U.S. rank: 383 (tie)
Source of wealth: Sports
Notable: Sold Houston Rockets in 2017 for $2.2 billion

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E-Cigarette News

Dallas City Council approves restrictions on vaping in public

Unsplash

Man vaping

Vaping will now be banned exactly like smoking, thanks to a new ordinance from the Dallas City Council.

At their December 11 meeting, the council passed an ordinance to ban vaping in all the same areas where smoking is not allowed. It'll go into effect on December 11, 2025 — giving everyone a year to get into compliance.

Proposed by City of Dallas Environmental Commission (EVC) and the Office of Environmental Quality and Sustainability (OEQS), the ordinance amends the definition of “smoking” in the Dallas City Code to include the use of vaping devices.

The ordinance does not ban vaping — it only bans where you can vape: no vaping in all indoor and enclosed spaces; within 15 feet of building entrances; and on park property. The ordinance also bans marijuana smoking in those same places.

In addition, the amendment requires restaurants, hotels, fitness centers and other businesses to update their signage to clearly state that both smoking and electronic smoking devices are prohibited.

The ordinance already earned widespread support from health organizations such as the Dallas County Health and Human Services, the American Lung Association, and the American Heart Association. These organizations, along with the World Health Organization, Centers for Disease Control and Prevention, and the U.S. Surgeon General, have all raised concerns about the health risks of direct and second-hand exposure to vaping aerosols, particularly for vulnerable populations such as children and older adults.

Dallas is not the first city to impose such a ban: San Antonio enacted a similar ban in October. Theirs goes into effect on January 1, 2025.

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