from the University of Houston. Today, though his international hunting trips are largely behind him, he looks as trim and fit as ever. Enterprise Products, has grown into the second-largest company headquartered in Houston with a stock market market value of $63 billion. It wasn't long before it was just the two of them. With his ruddy complexion, smooth skin and occasionally impish grin, he exudes the warmth of your favorite uncle. His boss, after all, had amassed his fortune with few people outside the industry noticing and he liked it that way. 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. 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. It highlights perfectly the immense breadth of the company which now spans from chemicals and energy, to fashion and automotive. A newspaper article once dubbed her father the invisible billionaire. Duncan Williams prefers the background as well. Three decades later, numerous companies in the Gulf Coast region have become successful following Enterprise's model. Houston pitmaster goes viral after hilarious TV interview, Willie Nelson's new album is a lovely tribute to a fellow country legend, Two ocelots were photographed crossing a road in rare South Texas sighting, Turner: TEA is giving Houston ISD two optionsclose school or be taken over. Duncan can sneak up on you. Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. Ethane has spurred the modern petrochemical boom along the Gulf Coast by creating the building block chemicals for most plastics. I especially enjoy the longform storytelling that has helped earn the magazine fourteen National Magazine Awardsthe industrys equivalent of an Oscarover its 46-year history. Neither Duncan nor Hobby disclosed details of the deal announced Tuesday. Randa enjoys the highest profile among the four Duncan siblings. Although they werent born into exorbitant wealth, Duncan Williams and her three siblings are tied as the second-wealthiest Houstonians with a net worth of more than $6 billion each, according to Forbes magazine. Randa Williams Duncan enjoys the highest profile among Houston's richest family. Both individuals are Houstonians. Houston investor Randa Duncan Williams pledges to protect the magazines legacy and boost investments in its long-term growth. An East Texas country boy who resembles John Glenn without the crinkles, he's nothing like the brash, rough-hewn Texas oil baron of old. Fire Ants Have Unleashed Chaos in Texas for Decades. This is a carousel. "In fact, he's smart as a whip, someone who doesn't forget a thing, someone you really have to listen to closely.". In the last year, Enterprise Products Partners insiders bought shares 6 times. 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 . According to the company, Texas Monthlys total audience has grown 76 percent since late 2016. Copyright 2022. Almost by definition, Enterprise seemed destined to stay under the radar. For further information please visit: www.ineosgrenadier.com, Media ContactsRichard Longden (Richard.longden@ineos.com) 0041 21 627 7063 or 0041 7996 26123Andrew McLachlan (andrew@mediazoo.tv) 07931 377162Alex Williams (alex.williams@mediazoo.tv) 07793 207325. Enemies are nowhere to be found. Randa Duncan Williams is Chairman at Enterprise Products Co. See Randa Duncan Williams's compensation, career history, education, & memberships. The Basses hold down the No. Available for both RF and RM licensing. Duncan started Enterprise Products in 1968 with $10,000 and a truck; now it owns over 50,000 miles of natural gas, oil and petrochemical pipelines. Shes not ostentatious and she doesnt flaunt her wealth with fancy cars and other flashy indulgences, friends say. So, who is she? Details of the transaction werent made public. Randa Duncan was born to Barbara Ann and Dan Duncan. She and her 3 siblings each hold an 8% stake in the family business. Dan Duncan famously founded the energy empire that would become Enterprise Products Partners with just $10,000 and a couple of propane trucks. Randa is Duncan's eldest child, at 57. 13. FC Barcelona president Joan Laporta and Real Madrid counterpart Florentino Perez took advantage of their teams' Copa del Rey semi-final first leg meeting on Thursday to meet and discuss a strategy for the launch the European Super League (ESL), according to reports. Acknowledging the sudden attention, he said he can't give to all the worthy causes, but does expect to continue giving big donations in the future. The Breakfast Klub sues prominent City Hall consultant for fraud, Texas wants to ban delta-8, but veterans are pushing back, Exclusive: Abbott explains push against diversity hiring programs, Lauren Daigle at Houston Rodeo: 'God always has your number', Galveston gets fourth Carnival Cruise Line, UH, Texas A&M removing DEI statements from hiring practices, Man dead, person arrested after suspected homicide in League City, 1960s River Oaks strip center to be replaced by luxe apartments, Houston is the most stressful city to work in, says new study, Houston battery recycling startup ACE partners with China's GGE, CERAWeek is growing with Houstons energy industry, Business calendar of upcoming events in the Houston area, New tech will help you and Siri, Google and Alexa work better. Hes nowhere near as rich as he boasts, nor as poor as his critics claim. ./Wednesday, Feb. 18, 2009, in Houston. ", Houston Business Journal: "Duncan heirs added to Forbes richest 400 list" by Casey Wooten, New York Times: "Legacy for One Billionaire: Death, but No Taxes" By DAVID KOCIENIEWSKI, "10 things to know about Randa Duncan Williams, the Houston billionaire who just bought Texas Monthly", "Texas Monthly gets new ownership, again", Forbes: The World's Billionaires - Randa Williams, https://en.wikipedia.org/w/index.php?title=Randa_Williams&oldid=1108418741, American businesspeople in the oil industry, Creative Commons Attribution-ShareAlike License 3.0, holding an 8% stake in Enterprise Products, This page was last edited on 4 September 2022, at 08:21. 2023 Celebrity Net Worth / All Rights Reserved. Randa Duncan Williams. Williams will be Texas Monthly 's fourth owner since its founding by Mike Levy in 1973. Enterprise Product Partners is a company which stores, processes and transports oil and gas, known as a midstream operator. On the road frequently in the early years, he still puts in 70- to 100-hour weeks when putting together a deal and admits his life's only regret is not spending more time with his four children. Suddenly, he was being forced to sell assets, cut overhead, arrange payment plans. She was on the trustee boards for the Manned Space Flight Education Foundation, River Oaks Baptist School and the Houston A+ Challenge. Here, the two are pictured at the TUTS gala at the Hobby Center on April 20, 2012. Williams earned herJuris Doctorate from the University of Houston College of Law. Avara's sister Randa Duncan Williams is the only . 18 on the Forbes list with a net worth of $15.5 billion. Linda Francis Duncan (born June 25, 1949) is a Canadian lawyer and politician, and former Member of Parliament for the riding of EdmontonStrathcona in Alberta. The children Dannine Avara, Scott Duncan, Milane Frantz, and Randa Williams inherited a tax-free $10 billion share of their father's estate following his death in 2010, when the so . A Texas history buff owning a magazine about Texas seems like a natural fit. Information on this page was last updated on 12/27/2022. Duncan's daughter, Williams, has an 8-year-old son who received assistance at the institute in coping with his dyslexia and improving his reading skills. Support responsible news and fact-based information today! [7], In 2013, Williams was elected as Enterprise Production Partners' non-executive chairman. Both Taliaferro and Hobby have repeatedly denied that any such deal took place. Author John Graves Was a Literary Godfather to Texas Monthly, Red McCombs Turned Old San Antonio on Its Head, Attorney General Ken Paxton Agrees to Apologize and Pay $3.3 Million to Whistleblowers, Running Into Fire: The Legacy of Jeff Blackburn. If you earn people's trust, you'll receive the first call when they want to make a deal.". For the second time in less than three years, Texas Monthly has a new owner. Dan Duncan, who died in 2010, left the fortune he amassed as the co-founder and chairman of Enterprise Product Partners to his four children, Dannine Avara, Scott Duncan, Milane Frantz and Randa Williams. Randa Duncan Williams is non-executive chairman of Enterprise Products Partners, the pipeline giant her father Dan Duncan (d. 2010) founded in 1968. Elsewhere in Texas, The Walton family once again reigns as the richest family in the U.S., according Forbes. Williams is the only one of four siblingsall of whom inherited equal stakes in the companyinvolved in running the family business. Duncan Williams, who declined to be interviewed, said Tuesday that she will buy Texas Monthly, called the National Magazine of Texas, from a private equity group led by another Houstonian, Paul Hobby, for an undisclosed amount. He also gave $35 million to Baylor's new outpatient clinic and $10 million to the Children's Learning Institute at the University of Texas Health Science Center at Houston to create a neurodevelopmental clinic. Manchester City are now ready to sell Bernardo Silva to FC Barcelona and have named their asking price for the Portuguese midfielder, according to reports. Lawyer, environmental consultant. "When you have as much happen to you as has happened to me in my lifetime, it has to have an effect," said Duncan, a Baylor College of Medicine board member since 2003. The ship is fitted with Type B tanks, a new design for transporting liquified ethane that optimises vessel capacity. "In this business, everyone has the same product," said Duncan, who owns 37 percent of Enterprise. The gift dwarfed any previous donation to the Texas Medical Center. Looking for a product? [5][6], Williams is a member of the board of trustees for the Houston Zoo, was a member of the board of trustees for the Houston Museum of Natural Science since 1995 and its chairman. News broke Monday that on Randa Duncan Williams has purchased Texas Monthly magazine from Paul Hobby. Texas Monthly has a new owner. The net worth of each heir exceeds $5 billion. 3rd party / other. In his later years, his drive to succeed turned to the philanthropic world. Besides the Double D ranch, the Duncans have two houses a vacation home in Santa Fe, N.M., and a 35,000-square-foot colonial style plantation house in River Oaks, complete with wine cellar, pool house, old European tapestries and furniture, linen-fold paneling and hand-painted, biblically themed Delft tiles. Despite it all, Duncan built a $15 billion company in an esoteric part of the natural gas industry known as midstream, between exploration and end-use. Today is another milestone in our continuing relationship and I wish both the ship and the Grenadier 4X4 well.. However, the publication last changed hands in 2016 for $25 million. Jos R. Ralat is Texas Monthlys taco editor, writing about tacos and Mexican food. About Enterprise Products:Enterprise Products Partners L.P. (NYSE: EPD) is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. These Common Units are owned directly by The Randa Duncan Williams 2018 Family Trust (the "RDW Family Trust"), for which Ms. Williams serves as a director of an entity trustee. Williams is the daughter of the late Dan Duncan, who was formerly the richest man in Houston. It's receiving that's harder. She has her bachelor's degree in political science and economics from Rice University and her law degree from the University of Houston. Goodgame and Texas Monthly president Scott Brown will continue to work closely together and will report independently to Williams, as they did to Hobby. After Wanda was sold in 1968, Duncan decided to go out on his own. Bill White, the former mayor of Houston said: "I can't think of a better steward for the heritage of Texas Monthly. While all of the Waltons dont live in the Lone Star State, members of four of the countrys other wealthiest families do. The vehicle was present as a guest of honour on the quayside as the ceremony took place. West Texans Are Learning What It Means to Live in Bear Country, H-E-Bs True Texas BBQ Restaurant Is Slipping, How Florence ButtNot Her SonLaunched the H-E-B Empire. His eldest daughter, Randa Duncan Williams, acknowledges that he wasn't around that much, but she said that wasn't uncommon among her circle of friends. Barbara Allen is the director of college programming for Poynter. As new forms of digital media have changed consumer habits and upended the advertising industry, many traditionally print-based publishing businesses have shut their doors, downsized, or consolidated. David Thompson, CEO of INEOS Trading & Shipping, says: Todays ceremony was very special for INEOS. 14. That mindset has continued as a philanthropist, he said. Enterprise is Mont Belvieus biggest player. Print ad revenue has declined in the same period. In Palm Trees and Power Lines, Lea (Lily McInerny) is a 17-year-old girl on summer break in Southern California, spending her days lying out in the sun and hanging out with her best friend, Amber (Quinn Frankel), among others. Houston pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams tie for 12th place in Texas and tie for 161st nationally. Candidate Party Preference History for the last 10 years* United States Representative District 1 Candidate Party Preference County Timeframe Doug LaMalfa Max Steiner Headquarters: 38 Hans Crescent, Knightsbridge, London, SW1X 0LZ, UK. In addition, she serves as Chairman of Enterprise Products Company, Chairman & President of the Dan L Duncan Foundation, and Chairman of Texas Monthly, LLC. But leaders at Texas Monthly said their most recent ownership set them up for success and made the purchase attractive for Williams. She's in the news recently as she just bought her home state's top magazine, Texas Monthly. She doesn't flaunt her wealth by driving fancy cars or other conspicuously flashy indulgences. Born with a hearing defect in both ears, he speaks very softly, with a clipped Southern accent and difficulty pronouncing his r's and l's. The "King Of Quants" sees 10X potential Eric Fry believes he just discovered America's next "Wealth Supercluster" and it's forming in the place you'd least expect. Russias War On Ukraine: Daily News And Information From Ukraine, Todays Wordle #623 Hint, Clues And Answer For Saturday, March 4th, WWE SmackDown Results: Winners And Grades As Rhodes And Reigns Finally Face Off, The Forbes 400 2022: 10 Richest Newcomers, The Forbes 400 2022: 10 Billionaires Under 40, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. It made for tough times for Duncan, whose business philosophy was all about growing the company. A self-made man, he started with a $250 loan from his dad and left a charitable foundation with initial assets of $178 million. As part of its greenhouse gas emission reduction strategy, there is widespread goal to move to a more circular economy, in which materials are re-used to their maximum extent. Williams, of Houston is the chair of Enterprise Products Partners, a pipeline giant founded by her late father, Dan Duncan, in 1968. . Profession. The Grenadier 4X4 combines British spirit and design with German engineering rigour. Natural gas liquids, or NGLs, are feedstocks for petrochemicals. But, for some, Williams might not be a household name. Randa Duncan Williams is non-executive chairman of Enterprise Products Partners, the pipeline giant her father Dan Duncan (d. 2010) founded in 1968. Three months later, the TB claimed his mother. For the second time since 2016, Texas Monthly magazine is getting a new owner. Mr John Lu, President of Pacific Gas said:We are delighted to deliver the Pacific INEOS Grenadier, the second of the largest VLECs in the world, as we extend INEOS ground-breaking ethane trading business. Randa Duncan Williams, heiress of an oil and gas fortune and a native Texan, chairs the holding company that announced today its purchase of "The National Magazine of Texas." It was. Within a year, Enterprise completed the first facility of its now-mammoth complex near the salt domes at Mont Belvieu, 25 miles east of Houston. That's what makes me emotional.". Forbes says the stock generates more than $700 million in annual dividend income for the family. Investors are already flocking there for a chance at 1,000%+ returns. Williamss purchase of Texas Monthly comes at a time of great change in the media industry. In a business environment where journalists at many publications have become accustomed to hearing that theyll have to produce more content across more platforms with fewer resources, its great news, Goodgame said, that Williams aims to build on the work of Genesis Park and boost long-term investments in Texas Monthlys editorial staff, subscription marketing, and other key areas. The ship also has the potential to carry other products such as LPG and ethylene. In that and a subsequent horrific scene, Deck is unflinching with the camera, placing it in a single location and rarely cutting, even when things get supremely uncomfortable. Hailed by some for the vision to focus on natural gas decades before it overtook oil as a hot commodity, by others for the perseverance to survive the industry's ups and downs, Duncan instead attributes much of his success to chance. The diligence process has been exhaustive, and they believe in Texas Monthly., Terms of the deal, which is set to close on June 30, 2019, were not disclosed. This weeks Current Climate, which every Saturday brings you the latest news about the business of sustainability. The thing is, Duncan's story is epic stuff: self-made man who started his company with $10,000 and a trailer-truck; visionary new breed of oilman who carved out a niche that changed the industry; big game hunter who's stalked prey on six continents; record-setting philanthropist; cancer survivor. book to class, Oops! Yesteday in Houston, one of the worlds largest ethane carriers came face to face with its namesake, the INEOS Grenadier 4X4, at the ship's official christening ceremony. Deck structures the film so that Lea is almost the perfect victim, someone whos alienated from those close to her and more than willing to accept someone who promises a type of escape. Enterprises political action committee may give money primarily to Republicans, but her political science professor at Rice, Robert Stein, remembers Duncan Williams as public policy-minded and decidedly more liberal. TikTok Is Banking On Project Texas to Avoid a U.S. Ban. Both his first and second wife succumbed to cancer. They have looked at the business through every lens. Photo by Bob Levey/Getty Images for U.S. Fund for UNICEF. Are insane ticket costs pricing Astros fans out of Opening Day? Patricia Sharpe writes a regular restaurant column, Pats Pick, for Texas Monthly. She is committed to a long-term investment, and that is a great opportunity for us to adopt a set of long-range business drivers.. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. She is worth about $9.1 billion and is married to sports and entertainment titan Stan Kroenke, whos worth an estimated $8.3 billion. Insiders at Enterprise Products Partners own 32.6% of the company. Related by financial asset: Enterprise Products Partners L.P. Can College Sports Get More Absurd Than SMU Joining the Pac-12? Willie Nelson pays lovely tribute to another country legend, Rare photos show 2 ocelots crossing South Texas road, Mayor: HISD has two optionsclose school or be taken over. She spent two decades in, Based in the Texas capital of Austin, Texas Monthly began publishing in 1973 under the leadership of Mike Levy, who sold it in 1998 to Indianapolis-based Ennis Communications. This website is published by INEOS on behalf of its businesses. And how much money does she have, anyways? The company now owns close to 50,000 miles of energy pipelines and natural gas processing plants, as well as a large . If I did it over, I'd never be this lucky again.". Palm Trees and Power Lines opens on March 3 in select theaters. This is the way she wants to contribute to Texas, Stein said, by keeping an iconic publication going., New billionaire owner of Texas Monthly prefers background, Timeline: How battle between Houston ISD, TEA has reached the point of a looming takeover. Levy sold the. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. Donald Trumps real net worth? 1 most stressful city for U.S. workers, To get these special tacos, drive out to the Houston Ship Channel, Principal fired for reading 'I Need a New Butt!' City Employees Are Heading for the Exits. Her father, Dan Duncan, was the co-founder of Enterprise Products. The corporate mailing address for Ms. Williams and other Enterprise Products Partners executives is 1100 LOUISIANA 10TH FLOOR, HOUSTON TX, 77002. "Major companies wanted to do business with companies with significant assets. Using a process known as fractionation, Enterprise treats and separates natural gas liquids into individual products such as propane, butane and, especially, ethane. The net worth of each heir exceeds $5 billion. The company makes money from oil and gas pipelines and the transportation and processing of natural gas liquids from fracking. 10 things to know about Randa Duncan Williams, the Houston billionaire who just bought Texas Monthly. He's taken more than 360 different species, including the Grand Slam of Sheep (the Dall, Stone, Desert and Rocky Mountain Bighorn) and the Big Five of Africa (elephant, rhinoceros, Cape buffalo, leopard and lion, considered the continent's most dangerous animals), both rare achievements. 2023 Forbes Media LLC. As one of the two largest companies of its kind in the nation, Enterprise boasts more than 32,000 miles of onshore and offshore pipelines and nearly 175 million barrel equivalents of natural gas and natural gas liquids storage capacity. Enter your email address below to get our daily insider buying and selling report. She is a major philanthropist who focuses on medicine, education, the arts, and cultural institutions. Enterprise was sailing along in the early 1980s with more than $350 million of assets (including those of the just-purchased Wanda), when interest rates doubled. 15 among the countrys wealthiest families is the Butt family, with a net worth of $17.8 billion. Enterprise Products, which has an estimated 7,000 employees, is currently ranked at. "My idea was to build an asset-based, midstream company that'd serve the industry better than Wanda," Duncan said. Genesis Park, a private equity company led by Houstonian Paul Hobby, bought Texas Monthly for $25 million in 2016, presumably to groom the magazine and sell it. Even during the evilest (aka most devastatingly effective) moment of the film, he never raises his voice or threatens Lea in any way, which somehow makes the aftermath even worse. The amount paid for what is called the National Magazine of Texas wasn't disclosed. >>> Scroll through to see which other Houstonians made the list. Learn More on Enterprise Products Partners' active insiders. At the ceremony, Randa Duncan Williams, Chairman of the general partner of Enterprise Products, formally named the ship and became its official Godmother. The Hunt family, whose members are descendants of oil wildcatter H.L. Duncan said he didn't dwell on his grief in those days, he explains, a young child's concept of life and death wasn't what it is now. What Randa wants to bring is an acceleration of those investmentsto make the print magazine better than ever and extend that same level of excellence in storytelling across other platforms. The next summer, he began traveling to visit his father wherever he was working. She previously served on the board of directors of Encore Bancshares. Of course, until Duncan started Enterprise, midstream operations were handled by the major oil and gas companies themselves. Randa Duncan Williams is the largest individual Enterprise Products Partners shareholder, owning 974.90M shares representing 44.91% of the company. Randa also answers to Randa Duncan Wil, Randa D Williams, Randa L Duncan-williams, Randa Duncanwilliams and Randa Duncanwil, and perhaps a couple of other names. 9. [8], She lives in Houston with her husband, and they have one child.[7]. INEOS is a Registered Trademark, the property of INEOS Capital Limited. Randa is the only one of Dan Duncan's children still involved in the family business. 30 spot with a net worth of $10.8 billion. But its message, even if its tough to swallow, is a powerful one that deserves attention, and its delivered strongly by all involved. Its rattlesnake season in Texas. Williams is the only one of four siblings involved in running the family business; all four inherited equal stakes in the company. Paul Klotman, M.D. Outside Spending Groups. Forrest Wilder writes about politics and the outdoors. Their net worth: $247 billion. They have looked under every rock. Williams is the only one of four. Grateful for the treatment he received at Baylor and convinced of the need to move cancer research forward, he gave the medical school $100 million two months ago. The USA, Canada and Mexico will follow by the end of this year, with first deliveries in 2023. Texas Monthly has won 13 National Magazine Awards, and editors have included William Broyles Jr., later a successful screenwriter, and Evan Smith, co-founder of The Texas Tribune. 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. Randa and her siblings Dannine Avara, Milane Franz, and Scott Ducan weren't born into the wealth they now have. If youve been thirsty for a legitimately huge UFC pay-per-view event, one that bridges the gap between casual mixed martial arts fans and the hardcore, there is one on the doc for Saturday night at the T-Mobile Arena in Las Vegas. Enterprise went public in 1998, creating a master limited partnership, and began making monster transactions $7 billion worth in the next six years when some big companies ran into post-Enron financial trouble and needed to dump some midstream assets. In addition to its name, the ship also carries the Grenadier logo proudly emblazoned on its side. What Genesis Park brought to us was the investment needed to begin to extend our brand beyond print to the platforms where audiences and revenue are growing, Goodgame said. These Common Units are owned directly by The Randa Duncan Williams 2018 Family Trust (the "RDW Family Trust"), for which Ms. Williams serves as a director of an entity trustee. Astros GM Dana Brown has more praise team's top prospect, This is what Houston looks like from space, MLB legend makes surprise appearance at Astros' Spring Training, Meet the Astros prospect tearing up Spring Training, Report: Houston ranked No.