Her father, Dan Duncan, was the co-founder of Enterprise Products. The process of connecting wells to consumers is one of the most unglamorous but profitable corners of the energy industry. One example is Houstons Duncan family, with a net worth of $22 billion, who once again appear on the annual Forbes ranking of America's richest families. 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!' The company makes money from oil and gas pipelines and the transportation and processing of natural gas liquids from fracking. The journalistic integrity and quality for which Texas Monthly is known will remain unchanged as we build upon what Genesis Park has done over the past two years., Hobby praised Williams as a quiet, smart, and decisive leader. All Rights Reserved. With a law degree from the University of Houston, Williams practiced law for about 6 years beginning in 1988, handling toxic tort cases and property liability cases. 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. Hes nowhere near as rich as he boasts, nor as poor as his critics claim. Copyright 2022. 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. "I certainly never expected him to become a billionaire.". 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. Use Next and Previous buttons to navigate. Enterprise Products owns over 50,000 miles of energy pipelines, natural gas processing plants and a large oil storage facility on the Gulf Coast. 2023 Celebrity Net Worth / All Rights Reserved. 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. About Pacific Gas:Pacific Gas(Hong Kong)Holdings Limited is dedicated itself to provide integrated and yet competitive shipping services for a full range of clean energy and its derivatives by products in the international market, with offices located in Hong Kong, Shanghai, Singapore, and Mumbai. As a child, Duncan lost his mother to tuberculosis and his only sibling, an older brother, to tetanus. 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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. 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. Randa Duncan Williams, a Houston billionaire and philanthropist. So, who is she? Williams joined the family business in 1994 and became president and CEO of Enterprise Products in 2001. By 1973, it was a $3 million company. 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. Randa Duncan Williams, Chairman of the general partner of Enterprise Products, says: At Enterprise we are delighted to work closely with INEOS. She's in the news recently as she just bought her home state's top magazine, Texas Monthly. 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. The Austin-based publication is being acquired by an entity owned by Houston investor Randa Duncan Williams, Texas Mon A graduate of the University of California at Los Angeles, he previously worked for the Raleigh News & Observer, the National Catholic Register, the Los Angeles Downtown News and the San Clemente Sun-Post. Dan Duncan founded Enterprise Products Partners in 1968. Randa Duncan Williams, a Houston billionaire, has purchased the Austin-based magazine. She has her bachelor's degree in political science and economics from Rice University and her law degree from the University of Houston. 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. My family is delighted to provide the resources to support this iconic Texas institution, which is nationally recognized for its editorial flair. 13. She is a major philanthropist who focuses on medicine, education, the arts, and cultural institutions. On HoustonChronicle.com: Houston billionaire buys Texas Monthly. While the privately held magazine doesnt publicly discuss its finances, Goodgame said the last few quarters were spent taking this great storytelling brand and extending it from print, which is still very important to us but we want to take that same storytelling out to the newer platforms where audience is growing, and where revenue is growing, and where Texans want to get their storytelling these days.. Both Taliaferro and Hobby have repeatedly denied that any such deal took place. Bill White, the former mayor of Houston said: "I can't think of a better steward for the heritage of Texas Monthly. Fleeing for Your Life? "My family is delighted to provide the resources to support this iconic Texas institution, which is nationally recognized for its editorial flair.". Butt, grandson of H-E-B founder Florence Butt, and three relatives sister Mary Butt Crook and two nephews own H-E-B. Williams served as the president and chief executive officer (CEO) of Enterprise Products and vice president at Enterprise Products from 1994 to February 2001. Williams is the only sibling involved in running the family business. 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. Houston billionaire Randa Duncan Williams, chairwoman of midstream giant Enterprise Product Partners LP and daughter of its late founder, leads the company that has now acquired Texas Monthly. Paul Klotman, M.D. The experience and those of his loved ones made a lasting impression. Details of the transaction werent made public. Bring on the Shiplap. He was a low profile billionaire in a profitable but unsexy business. At the ceremony, Randa Duncan Williams, Chairman of the general partner of Enterprise Products, formally named the ship and became its official Godmother. The family fortune has more than doubled . Avara's sister Randa Duncan Williams is the only . 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. 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 giants founders. Duncan Williams is a member of the board of trustees of the Houston Zoo and the Houston Museum of Natural Science. The EIN for the organization is 59-1630423. "The one who seemingly came out of nowhere.". Outside, 20 species of native and exotic game roam the 5,000-acre spread named the Double D. Duncan's passion for hunting dates to boyhood jaunts for small game in East Texas, but it reawakened in his mid-30s, after a trip to New Mexico to hunt Rocky Mountain elk. She was made chairwoman in 2013. Levy sold the. "My idea was to build an asset-based, midstream company that'd serve the industry better than Wanda," Duncan said. I have been an avid Texas Monthly reader since I was a teenager, Williams said in a statement. The next summer, he began traveling to visit his father wherever he was working. Plus, whether stronger penalties slow retail theft, the deal with all the near-misses on airport runways, and more. The Duncan family's net worth comes from pipeline company Enterprise Product Partners, which was founded by Dan Duncanin 1968. A year and a half later, his worth now at $6 billion, his profile raised by a $100 million gift to Baylor College of Medicine, Duncan remains one of the city's least known heavy hitters. [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. All rights reserved. Wendy Davis Returns to the Texas Capitol and a Whole New Political Landscape. Use our Product finder instead. Today is another milestone in our continuing relationship and I wish both the ship and the Grenadier 4X4 well.. 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. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products production, transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. Where does she come from? Randa Williams (ne Duncan, born 1960/1961), is an American billionaire heir to the Duncan family fortune (through Enterprise Products, which remains under family control). Since then, he has hunted with the Eskimos of the North in Canada, the Pygmies of the Central African Republic, the Bushman people of Botswana and the nomads of Northern Africa. Use Next and Previous buttons to navigate, RANDA WILLIAMS - Portraits of each individual honoree to accompany her profile (head and shoulder). The ship also has the potential to carry other products such as LPG and ethylene. The ship is fitted with Type B tanks, a new design for transporting liquified ethane that optimises vessel capacity. Most recently, on Wednesday, September 30th, Randa Duncan Williams bought 15,000 shares of Enterprise Products Partners stock. INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable, and staying ahead of evolving regulations and legislation. Shes very well read, independent-minded and proud of her Texas heritage.. Shes a trained lawyer, a Texas history buff, a devoted mother, a billionaire heiress and the chairwoman of the largest Houston company that isnt a household name. 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. Enterprise Products, which has an estimated 7,000 employees, is currently ranked at. Randa Duncan Williams is non-executive chairman of Enterprise Products Partners, the pipeline giant her father Dan Duncan (d. 2010) founded in 1968. She's an attorney, a serious Texas history buff, a mother, a billionaire heiress, and the chairwoman of Enterprise Product Partners. This is a carousel. The way it played out is poetic.. 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 . Enterprise Products, has grown into the second-largest company headquartered in Houston with a stock market market value of $63 billion. 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. 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. 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. Are ticket costs pricing Houston Astros fans out of Opening Day? Additionally, she sits on the board of the University of Texas Health Science Center. It took Duncan to show them it was in their financial interest to outsource them to an independent company, to get such assets off their books. They were very young children when their father famously founded Enterprise Product Partners with $10,000 and a couple of propane trucks. Print ad revenue has declined in the same period. Both Brown and Goodgame emphasized that Texas Monthlys long tradition of deep reporting and longform storytelling will remain a core editorial focus. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. "I was enthralled by their vivid descriptions. the Texanist, is a staff writer. Randa is Duncan's eldest child, at 57. 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. Some brokers just had telephones.". [3] Due to a temporary repeal in the estate tax law for the year 2010, Duncan became, along with her siblings, one of the first American billionaires to pay no estate tax since its enactment. >>> Scroll through to see which other Houstonians made the list. She previously served on the board of directors of Encore Bancshares. (Dave Rossman/For the Chronicle). Mimi Swartz is a staff writer based in Houston. 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. Forbes lists Williams at the 290th richest person in the world, with an estimated net worth of $6.4 billion. Submit a correction suggestion and help us fix it! If I did it over, I'd never be this lucky again.". Enterprise Product Partners is a company which stores, processes and transports oil and gas, known as a midstream operator. Williams is the only one of four siblingsall of whom inherited equal stakes in the companyinvolved in running the family business. WWE SmackDown results as Cody Rhodes and Roman Reigns come face-to-face. The situation in which Lea finds herself is not one that is often confronted in movies, and by wallowing in the misery of it, its as if Deck is refusing to let viewers off the hook by letting them look away. Citing the Bible, Jan Duncan said it's important "not to draw attention to oneself, to do good quietly.". The INEOS ethane fleet now consists of twelve vessels including four VLECs, and eight Dragon ships. Bachelor of Arts/Science, Rice University; Doctor of Jurisprudence, University of Houston. Insiders at Enterprise Products Partners own 32.6% of the company. Today, though his international hunting trips are largely behind him, he looks as trim and fit as ever. Support responsible news and fact-based information today! 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. Duncan had four adult children, each of whom is also a billionaire. Williams will be Texas Monthlys fourth owner since its founding by Mike Levy in 1973. Both Goodgame and Brown expressed great hopes for the companys future under Williams. Duncan's rise didn't come without struggles. Randa Duncan Williams is non-executive chairman of Enterprise Products Partners, the pipeline giant her father Dan Duncan (d. 2010) founded in 1968. Patricia Sharpe writes a regular restaurant column, Pats Pick, for Texas Monthly. This chart shows Randa Duncan Williams's buying and selling at Enterprise Products Partners by year and by quarter. The most recent insider tranaction occured on December, 27th when Director Carin Marcy Barth bought 5,000 shares worth more than $119,950.00. Randa Williams is 61 years old and was born on 08/28/1961. 16 / 25. Looking for a product? "I remember sitting around the campfire my first venture outside of Texas, listening to other hunters discussing their experiences in Alaska, Canada and Africa," Duncan writes in one of the short pieces he's penned on the joys of hunting. Goodgame said hes proud of Texas Monthlys recent growth across platforms that extends to live events, podcasts and beyond. Jimmy Carters Peanut-and-Egg Taco Made Quite the Impression on San Antonians. 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. FC Barcelona head coach Xavi Hernandez has spoken more on his team's 'sensational' defensive performance against Real Madrid in the Copa del Rey semi-final first leg ahead of his team's clash with Valencia in La Liga on Sunday. Houston Business Journal: "Dan Duncan dies at 77" by Casey Wooten, BusinessWeek: "Executive Profile - Randa Duncan Williams J.D. She is the Chairwoman of Enterprise's board of directors. Randa and her siblings Dannine Avara, Milane Franz, and Scott Ducan weren't born into the wealth they now have. 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. Goodgame and Texas Monthly president Scott Brown will continue to work closely together and will report independently to Williams, as they did to Hobby. Texas Monthly has a new owner. 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 Duncan Williams is the largest individual Enterprise Products Partners shareholder, owning 974.90M shares representing 44.91% of the company. Genesis Park paid $25 million for the brand in 2016, and Hobby called this new deal an ideal outcome for everyone involved. Palm Trees and Power Lines opens on March 3 in select theaters. Williams is the only one of four. Williams will be Texas Monthly 's fourth owner since its founding by Mike Levy in 1973. When she gives money, shes selective and wants to ensure it will be spent appropriately. Headquarters: 38 Hans Crescent, Knightsbridge, London, SW1X 0LZ, UK. We have the journalists and photographers and designers to do that well already, and we will continue to grow new muscles to do it in new ways. That means not only more podcasts and events and web journalism but also, he said, a new focus on selling Texas Monthly stories to producers of movies, streaming video, and TV series. She also serves on the boards of trustees for numerous charitable organizations. City Employees Are Heading for the Exits. She joined Enterprise in 1994 as vice president. 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. A newspaper article once dubbed her father the invisible billionaire. Duncan Williams prefers the background as well. 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. 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. Outside Spending Groups. | Peter.Dawson@chron.com | NEWS WHEN YOU NEED IT: Text CHRON to 77453 to receive breaking news alerts by text message | Sign up for breaking news alerts delivered to your email here. If Alice Walton were a family unto herself, shed rank as the fourth wealthiest clan in the country. She and her 3 siblings each hold an 8% stake in the family business. Of course, until Duncan started Enterprise, midstream operations were handled by the major oil and gas companies themselves. INEOS is a Registered Trademark, the property of INEOS Capital Limited. On HoustonChronicle.com:Houston billionaire buys Texas Monthly, promising to invest and invigorate National Magazine of Texas, "I have been an avid Texas Monthly reader since I was a teenager," Williams, who will control the magazine through Enterprise Partners Co., said in a statement. Written and directed by Jamie Deck, with help from co-writer Audrey Findlay, the film is profoundly difficult to watch, as viewers are witness to a slow-motion train wreck that they are powerless to stop. 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. That mindset has continued as a philanthropist, he said. She was elected as a board director in 2010 and as chairman in 2013. "In fact, he's smart as a whip, someone who doesn't forget a thing, someone you really have to listen to closely.". Suddenly, Duncan found himself owing 22 percent interest on the $500 million he was in debt. Jan, whose first marriage failed because her husband didn't want to be married, broke down in tears, moved. Prior to joining the company, she practiced law with the firms Butler & Binion and Brown, Sims, Wise & White. You can view The Poynter Institutes most-recent public financial disclosure form 990, Poynter ACES Introductory Certificate in Editing, The new Succession trailer, along with media news and must-read links for your weekend, Is there really a shoplifting epidemic?, Assistant Professor of Business (Accounting) - McMinnville, OR (97128), Editor & Lead Reporter - Newton, MA (02460), Executive Editor - Meriden (CT) Record Journal - Meriden, CT (06450), Associate News Editor - Seattle, WA (98109), Research Policy Reporter, C&EN - Washington, DC (20036), WUNC Podcast Producer & Host - Durham, NC (27701), Senior Copy and Content Editor - 23098 - Washington, DC (20037), Editor-in-Chief of Assembly - Washington, DC (20001), Communications Specialist - Richmond, VA (23294). Their net worth: $247 billion. News broke Monday that on Randa Duncan Williams has purchased Texas Monthly magazine from Paul Hobby. She graduated from Rice University with a degree in political science and economics, then earned her law degree from the University of Houston. The breakthrough started in the late '90s. Levy sold the magazine to Indiana-based Emmis Communications in 1998, and that company sold it in late 2016 to Hobby. Randa Williams (ne Duncan, born 1960/1961), is an American billionaire heir to the Duncan family fortune (through Enterprise Products, which remains under family control). We are also proud ambassadors of the uncompromising Grenadier 4X4. Truth be told, there's little left for Duncan to pursue. They have looked at the business through every lens. Palm Trees and Power Lines is not an easy film to watch, and it often goes in directions that viewers may not want to believe. Hobby said that he first received interest from potential buyers of Texas Monthly shortly after Genesis Park purchased the magazine. 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. The terms of the sale were not . Like her father, Randa stays out of the spotlight.
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