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

rankings

Hottest headlines of 2025

The 10 hottest CultureMap stories that had Dallas talking in 2025

Flower Mound is known for its outdoorsy offerings in places like Stone Creek
Park.

Facebook/Flower Mound Parks and Recreation

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Editor's note: What was Dallas reading this year? Let's take a look. We've already covered the hottest headlines in dining, arts & entertainment, real estate, society, and city life, as well as the year's best and worst movies. Now we turn our attention to the most-read stories of all.

This year, news about suburbs dominated our list; readers clamored to know which local cities were both the wealthiest and most affordable, the most "livable," and the best for working from home. They were also eager to keep up with local billionaires. And, of course, everyone wanted to know which restaurants had the most coveted reservations in town.

Here, we present the most-read stories of 2025 in Dallas:

1. Dallas-Fort Worth suburb blooms as No. 1 best place to live in U.S. One Dallas-area city took the top slot on a list of "the 100 Best Places to Live in 2025." The list — from relocation marketing platform Livability.com — put Flower Mound at No. 1 for its appealing size and affordability.

2. Blooming Dallas suburb ranks as America's 7th most livable small city. Similarly, Flower Mound also claimed the No. 7 spot in a ranking of America's most livable small cities for 2025.

3. North Dallas neighbor ranks as No. 1 most affordable city in U.S. A Dallas suburb landed on top of a list of the most affordable places to live: McKinney ranked No. 1 based on its relative cost of living and high median household income.

4. The 2 Dallas restaurants where reservations are now impossible to get. Cafe Dior by Dominque Crenn is the restaurant inside the new Dior boutique in Highland Park Village, which opened at the start of the year. Zodiac Room is the about-to-close restaurant inside the storied downtown location of Neiman Marcus, which has had several imminent closure scares but now states it will remain open past the 2025 holidays.

Dior Cafe interior Cafe Dior was a hard-to-get reservation when it opened in Dallas. SevenRooms

5. 27 Dallas billionaires land on new Forbes list of world's richest people. More billionaires have made it onto the 2025 World's Billionaires List than ever before, according to Forbes. This year, 27 Dallas billionaires are among the richest people in the world, including Elaine Marshall, Lyndal Stephens Greth, and Jerry Jones.

6. 5 Dallas high schools rank among America's best in 2025, per U.S. News. Five prestigious Dallas-area high schools are living up to their reputations for top-tier education after being ranked among the best high schools in the country, according to U.S. News and World Report's annual rankings.

Dallas ISD The School for the Talented and Gifted The School for the Talented and Gifted in Dallas ISD is the 9th best high school in the country, and the top high school in Texas. tagmagnet.dallasisd.org/

7. Techy Dallas suburb is No. 1 hot spot for remote workers in U.S. A SmartAsset survey of cities with the biggest remote workforces has revealed Frisco is the No. 1 city with the highest share of remote workers in the nation. The study found over 40,000 Frisco residents work from home, which is more than a third of all of the city's workers aged 16 and older (117,193 total workers).

8. 3 affluent Dallas neighbors dominate new list of wealthiest U.S. suburbs. Three well-to-do Dallas-area communities — University Park, Southlake, and Colleyville — are among the wealthiest suburbs in America in 2025, a report confirmed. The three affluent Dallas neighbors were lauded in GoBankingRates ranking of the 50 wealthiest U.S. suburbs, based on 2022 and 2023 average household income data sourced from the U.S. Census Bureau.

9. Dallas Caramel Company founder Rain McDermott dies at 52. Dallas entrepreneur Rain McDermott, who founded artisan caramel maker Dallas Caramel Company when she was only 34 years old, died in June after a battle with breast cancer; she was 52.

Dallas Caramel Company founder Rain McDermott Courtesy

10. Award-winning Dallas burger joint opens location in Forney. Blues Burgers is from Howard and Catherine Baldwin, who opened the original Blues Burgers near Love Field in Dallas in 2014 (it closed in February 2025 so they could focus on this venture). They use Angus beef for their burgers, and make their own sauces and spreads in-house. They fry in beef tallow, and their sodas are made with cane sugar, not high-fructose corn syrup. They also do fried pies, made in house.

hot headlines most popular stories year in review flower mound frisco billionaires