Richest Texans

Fort Worth billionaire retains crown as richest person in Texas for 2019

Alice Walton is the richest of the rich.

Photo courtesy of Wal-Mart

Walmart heiress Alice Walton of Fort Worth remains the richest person in Texas, according to the newly released Forbes 400 ranking. What’s really astounding, though, is that her estimated net worth skyrocketed by more than $6 billion in just one year.

Forbes pegged Walton’s estimated net worth at $51.4 billion, making her the 11th richest person in the country and the richest person in the Lone Star State. When Forbes published its 2018 ranking of America’s billionaires, her net worth stood at $44.9 billion. Between 2018 and 2019, that’s a difference of $6.5 billion. By comparison, Forbes estimates the entire net worth for pipeline heiress Randa Duncan Williams of Houston, who recently bought Texas Monthly magazine, at $6.3 billion.

Once again, Walton keeps Fort Worth company on the list with David Bonderman, chairman of the low-cost Irish airline Ryanair, and four members of the famous Bass family — Edward, Robert, Sid, and Lee.

Behind Walton among Texas’ wealthiest residents is Michael Dell of Austin. The founder, chairman, and CEO of Round Rock-based Dell Technologies notches a net worth of $32.3 billion, according to Forbes. That puts him at No. 18 on the list of America’s billionaires.

Holding down third place in Texas and 48th place in the U.S. is Dallas banker and real estate titan Andy Beal, with an estimated net worth of $9.8 billion.

This year, Dallas Cowboys owner Jerry Jones got muscled out of the No. 4 spot in Texas by Stan Kroenke, whose professional sports holdings include the NFL’s Los Angeles Rams.

The estimated net worth of Kroenke, who owns a 520,000-acre ranch west of Wichita Falls, is $9.7 billion, compared with $8.6 billion for Jones. That puts Kroenke in 49th place among the richest Americans. Kroenke, whose residence previously had been listed as Columbia, Missouri, bought the ranch in 2016; the list price was $725 million.

With Kroenke’s apparent relocation to Texas, Jones dropped this year to No. 5 on the list of the richest Texans and No. 56 among the richest Americans.

By the way, Kroenke’s wife, Walmart heiress Ann Walton Kroenke — also now apparently a Texan, according to Forbes — is tied for sixth place in the ranking of Texas billionaires. She shares that spot with Houston pipeline mogul Richard Kinder. Forbes estimates they’re each worth $7.5 billion, putting them both at No. 67 on the national wealth ladder.

Here are the other Texans who made it onto this year’s Forbes 400, in order of ranking:

The aforementioned Randa Duncan Williams and her siblings Dannine Avara, Scott Duncan, and Milane Frantz, all of whom live in Houston. Each boasts an estimated net worth of $6.3 billion, tying them for the eighth place in Texas and 100th place nationally.
Omni Hotels and Gold’s Gym king Robert Rowling of Dallas. $5.5 billion. No. 12 in Texas. Tied for No. 119 in U.S.
Oil and gas heir Ray Lee Hunt of Dallas. $5.2 billion No. 13 in Texas. No. 127 in U.S.
Venture capital entrepreneur Robert Smith of Austin. $5 billion. No. 14 in Texas. Tied for No. 131 in U.S.
Oil heir Robert Bass of Fort Worth. $4.9 billion. Tied for No. 15 in Texas and No. 140 in U.S.
Restaurant mogul and Houston Rockets owner Tilman Fertitta of Houston. $4.9 billion. Tied for 15th in Texas and No. 140 in U.S.
Pipeline executive Kelcy Warren of Dallas. $4.3 billion. No. 17 in Texas. Tied for No. 159 in U.S.
Vodka tycoon Bert “Tito” Beveridge of Austin. $4.2 billion. Tied for No. 18 in Texas and No. 168 in U.S.
Margot Birmingham Perot of Dallas, widow of tech entrepreneur H. Ross Perot. $4.2 billion. Tied for No. 18 in Texas and No. 168 in U.S.
Tech entrepreneur and Dallas Mavericks owner Mark Cuban of Dallas. $4.1 billion. No. 20 in Texas. Tied for No. 179 in U.S.
Toyota titan Dan Friedkin of Houston. $4 billion. Tied for No. 21 in Texas. Tied for No. 187 in U.S.
Houston Texans co-founder Janice McNair of Houston, widow of businessman and Texans co-founder Bob McNair. $4 billion. Tied for No. 21 in Texas and No. 187 in U.S.
Energy executive Jeffery Hildebrand of Houston. $3.8 billion. No. 23 in Texas. Tied for No. 207 in U.S.
Private equity giant David Bonderman of Fort Worth. $3.7 billion. Tied for No. 24 in Texas and No. 217 in U.S.
Oil and gas chief Trevor Rees-Jones of Dallas. $3.7 billion. Tied for No. 24 in Texas and No. 217 in U.S.
Former hedge fund manager John Arnold of Houston. $3.3 billion. No. 26 in Texas. No. 261 in U.S.
Investor and oil heir Sid Bass of Fort Worth. $3.1 billion. Tied for No. 27 in Texas and No. 275 in U.S.
John Paul DeJoria of Austin. $3.1 billion. Tied for No. 27 in Texas and No. 275 in U.S.
Tech entrepreneur Thai Lee of Austin. $3 billion. Tied for No. 29 in Texas and No. 287 in U.S.
Software entrepreneur Joe Liemandt of Austin. $3 billion. Tied for No. 29 in Texas and No. 287 in U.S.
Oil heir W. Herbert Hunt of Dallas. $2.6 billion. Tied for No. 31 in Texas and No. 333 in U.S.
Investor and former grocery distributor Drayton McLane Jr. of Temple. $2.6 million. Tied for No. 31 in Texas and No. 333 in U.S.
Hearing-aid titan Bill Austin of Brownsville. $2.4 billion. Tied for No. 33 in Texas and No. 355 in U.S.
Energy mogul George Bishop of The Woodlands. $2.4 billion. Tied for No. 33 in Texas and No. 355 in U.S.
Energy entrepreneur and Texas Rangers co-owner Ray Davis of Dallas. $2.3 billion. Tied for No. 35 in Texas and No. 363 in U.S.
Big-time banker Gerald Ford of Dallas. $2.3 billion. Tied for No. 35 in Texas and No. 363 in U.S.
Oil heir Edward Bass of Fort Worth. $2.2 billion. Tied for No. 37 in Texas and No. 370 in U.S.
Oil heir Lee Bass of Fort Worth. $2.2 billion. Tied for No. 37 in Texas and No. 370 in U.S.
Real estate developer H. Ross Perot Jr. of Dallas. $2.2 billion. Tied for No. 37 in Texas and No. 370 in U.S.
Private equity entrepreneur Brian Sheth of Austin. $2.2 billion. Tied for No. 37 in Texas and No. 370 in U.S.

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Police News

Fort Worth police officer fired for unjustified use of force

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A Fort Worth police officer has been terminated following his involvement in a use of force incident. According to a release, Officer Matthew Krueger was let go on December 18, following an investigation into an incident involving someone who was videotaping his actions while he was on duty.

On Sunday, June 23, Fort Worth police officers responded to a hit-and-run collision near 1000 Foch St. The incident involved a suspected intoxicated driver who crashed into another vehicle and a structure before fleeing the scene on foot.

While officers were investigating, a woman approached them and used her cell phone to record their actions. Krueger asked and advised her multiple times to move across the street. When she failed to comply, she was placed under arrest.

During the arrest, Krueger used force to take the woman into custody, resulting in injuries that required medical care at an area hospital.

After being treated, the woman was released from the hospital, booked into jail, and charged with interference with public duties, resisting arrest and/or detention, evading arrest, and making a false alarm or report.

Krueger had been with the department for just under eight years and was assigned to the Patrol Bureau at the time of the incident.

The Fort Worth Police Major Case and Internal Affairs Units began immediate and congruent investigations. Krueger was transferred from Patrol to a unit with no public interaction, pending the outcome of the investigation.

After a review of the Internal Affairs investigation, Krueger’s chain of command determined that the level of force used was unjustified and violated departmental policy. Police Chief Neil Noakes concurred and terminated Krueger’s employment.

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