Family fortune

Dallas-Fort Worth billionaire reigns as queen of America’s richest dynasty, Forbes says

Her family's revenue is equivalent to the size of Chile’s economy.

Photo courtesy of Wal-Mart

In its 2020 budget year, Walmart racked up revenue of $524 billion — and the company continues to rack up riches for heirs of the retail giant’s founders.

The Walton family once again reigns as the richest family in the U.S., according to a ranking released December 17 by Forbes. Their net worth: $247 billion. That sum represents close to half of Walmart’s annual revenue and is equivalent to the size of Chile’s economy.

The net worth of Fort Worth billionaire Alice Walton, the only daughter of Walmart founder Sam Walton, accounts for a little over one-fourth of the family fortune. Forbes estimates she’s worth about $68 billion, making her the richest resident of Texas and the richest Walton heir. If Alice Walton were a family unto herself, she’d rank as the fourth wealthiest clan in the country.

Descendants of Sam Walton and brother Bud Walton own about half of Walmart’s stock. Forbes says the stock generates more than $700 million in annual dividend income for the family.

Alice Walton isn’t the only Texan who’s a member of the Walton dynasty. Ann Walton Kroenke, one of the two daughters of Bud Walton, lives on a 535,000-acre ranch about 50 miles northwest of Wichita Falls. She is worth about $9.1 billion and is married to sports and entertainment titan Stan Kroenke, who’s worth an estimated $8.3 billion.

While all of the Waltons don’t live in the Lone Star State, members of four of the country’s other wealthiest families do.

Houston’s Duncan family, with a net worth of $22 billion, appears at No. 11 on the Forbes list. The four children of pipeline mogul Dan Duncan — Randa Duncan Williams, Milane Frantz, Dannine Duncan Avara, and Scott Duncan — inherited a $10 billion estate from their father when he died in 2010. The net worth of each heir exceeds $5 billion.

Randa enjoys the highest profile among the four Duncan siblings. She is chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father, and owns Austin-based Texas Monthly magazine.

At No. 15 among the country’s wealthiest families is the Butt family, with a net worth of $17.8 billion. Charles Butt is chairman and CEO of the H-E-B grocery chain, based in San Antonio and parent company of Dallas-based Central Market. Butt, grandson of H-E-B founder Florence Butt, and three relatives — sister Mary Butt Crook and two nephews — own H-E-B. The company’s annual sales are around $28 billion.

The Hunt family, whose members are descendants of oil wildcatter H.L. Hunt, sit at No. 18 on the Forbes list with a net worth of $15.5 billion. The richest among them are billionaires Ray Lee Hunt and W. Herbert Hunt, both of Dallas.

Rounding out the Texas contingent on the Forbes list are members of Fort Worth’s Bass family. The Basses hold down the No. 30 spot with a net worth of $10.8 billion. The four Bass brothers — Sid, Edward, Robert, and Lee — each inherited $2.8 billion from their oil tycoon uncle Sid Richardson after his death in 1959. Robert is the wealthiest of the foursome.

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Vaping Ban

Dallas ordinance banning vaping in public spaces goes into effect

Photo via Pixlr

Vaping is banned

Vaping is now banned in public spaces in Dallas via a new ordinance which went into effect on December 11, 2025.

The Dallas City Council passed the ordinance — aimed at enhancing air quality and safeguarding the health of residents by prohibiting vaping in places where smoking is already banned — on December 11, 2024. But the public was given a year-long grace period to adjust. It now takes effect, with residents, business owners, and operators required to come into compliance with the new rules.

The ordinance, which was proposed by City of Dallas Environmental Commission (EVC) and the Office of Environmental Quality and Sustainability (OEQS), amends the definition of "smoking" in the Dallas City Code to include the use of electronic smoking devices (vaping). This measure effectively bans vaping in all locations currently prohibited for smoking.

The ordinance prohibits vaping in all indoor and enclosed spaces, within 15 feet of building entrances, and on park property. Importantly, this amendment does not add any new locations to the list of smoking and vaping restrictions.

The vaping ordinance document is online at https://www.dallasclimateaction.com/.

Assistant City Manager Liz Cedillo-Pereira says in a release thatshe is proud of this effort to keep the air cleaner.

"The largest cities in Texas are now aligned to protect people at work as well as the public from secondary exposure to potentially harmful substances," Cedillo-Pereira says.

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

"We're all connected through our environment," says Office of Environmental Quality and Sustainability director Angela Hodges Gott. "Keeping our places of business, parks, creeks, and rivers clean is something everyone benefits from. When we reduce vaping and smoking litter, we're protecting the vibrancy of Dallas."

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