Texas' Richest Families
Forbes, purveyor of America's richest lists, has a new one out that features a handful of well-known Texas families. Two families from Dallas, one from Houston, and one from San Antonio appear on the magazine's 2016 list of America's 25 richest.
Unlike Forbes' flagship list of America’s 400 richest and its world billionaires ranking, which focus on individual or nuclear-family wealth, this list includes families of all sizes, ranging from just three relatives to the estimated 3,500 members of one clan. All 25 fortunes were started by a previous generation, and self-made entrepreneurs who founded their companies and already appear with their nuclear family on the Forbes 400 list have been left off.
To make the list, net worth had to be at least $10.7 billion. Family members’ assets, including stakes in public and private companies, real estate, art, and cash were taken into account, along with estimates of debt.
At No. 10, the Duncan family of Houston is the richest Lone Star clan on the list. The $21.5 billion fortune, made in pipelines, is split among four siblings.
Dallas' Hunt family ties with New York City's Goldman family for No. 16. The 33 members of the legendary oil family are valued at $13.7 billion, the wealthiest in the area. The Marshall family of Dallas is up five spots from last year, to No. 21. The estimated three family members are worth $12 billion, though they have been involved in a lengthy legal battle to ensure the estate of Anna Nicole Smith doesn't end up with any of the late J. Howard Marshall II's dough.
The Butt family of San Antonio, known for Texas' popular H-E-B grocery chain, comes in at No. 23. The $11 billion is divided among five family members.
Unsurprisingly, the Waltons take the top spot. Though their wealth has diminished a little, the seven family members behind Walmart are still valued at a whopping $130 billion.