Elsewhere in Texas, The Walton family once again reigns as the richest family in the U.S., according Forbes. Two and a half years after the award-winning publication was sold to Genesis Park, the Houston-based private equity firm founded by Paul Hobby, it has been purchased by Texas Monthly, LLC, a newly formed affiliate of Enterprise Products Company (EPCO), a privately held firm also based in Houston. 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. 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. The Grenadier 4X4 combines British spirit and design with German engineering rigour. Like her father, Randa stays out of the spotlight. 18 on the Forbes list with a net worth of $15.5 billion. Chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father; purchased Texas Monthly in June 2019. Randa Duncan Williams is the daughter of the late Dan Duncan, who was the richest man in Houston when he died in 2010. Paul Klotman, M.D. Duncan's rise didn't come without struggles. Peter Dawson is a digital reporter in Houston. She is chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father, and owns Austin-based Texas Monthly magazine. "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. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the RDW Family Trust, except to the extent of her pecuniary interest therein. Wendy Davis Returns to the Texas Capitol and a Whole New Political Landscape. Forrest Wilder writes about politics and the outdoors. She inherited $3.1 billion upon the death of her father. He was right. Likewise, Tom aside from the inherently creepy idea of a 34-year-old man pursuing a 17-year-old girl doesnt come across as a monster. Randa Duncan Williams is the daughter of the late Dan Duncan, who was the richest man in Houston when he died in 2010. Randa enjoys the highest profile among the four Duncan siblings. The family fortune has more than doubled . "He was smart, but I remember him mostly as an outstanding person nice, very well-liked, impeccably behaved," said Yvonne Wedgeworth, a high school classmate who still lives in Center. He later became one of the largest pipeline operators in the United States. 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. According to its website, it has a paid circulation of 300,000 and is read monthly by 2.1 million people, or one out of 10 Texas adults. Print ad revenue has declined in the same period. 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). Hobbys tenure as chairman of Texas Monthly also saw some tumult, including several high-profile staff departures and accusations of editorial impropriety in early 2018, when then editor-in-chief Tim Taliaferro was alleged by the Columbia Journalism Review to have agreed to an arrangement in which the dating app Bumble would pay for social media promotion for a Texas Monthly cover story about Bumble founder Whitney Wolfe Herd. Are insane ticket costs pricing Astros fans out of Opening Day? Report Date Eligible Voters2 Registered Voters Percent . After practicing law for several years, she joined Enterprise in 1994, becoming chairwoman in 2013. According to the company, Texas Monthlys total audience has grown 76 percent since late 2016. "My family is delighted to provide the resources to support this iconic Texas institution, which is nationally recognized for its editorial flair.". Forbes estimates shes worth about $68 billion, making her the richest resident of Texas and the richest Walton heir. Jan, whose first marriage failed because her husband didn't want to be married, broke down in tears, moved. 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. Hearst Randolph "Randy" Duncan, Jr. (March 15, 1937 - September 27, 2016) was an American gridiron football quarterback and lawyer.. 14. 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. Breadcrumb. Please visitwww.enterpriseproducts.comfor more information. Reflects change since 5 pm ET of prior trading day. People consume storytelling more than they ever have, Goodgame said. Insiders at Enterprise Products Partners own 32.6% of the company. People in the industry say he has no ego. She has her bachelor's degree in political science and economics from Rice University and her law degree from the University of Houston. So, who is she? Because she regularly had to check in to a sanatorium and his father was on the road, Duncan and his brother moved in with their grandmother, a nearly blind woman who instructed them in life's lessons the Golden Rule, the value of a day's work. Get the Poynter newsletter that's right for you. Texas Monthly has a new owner. Three decades later, numerous companies in the Gulf Coast region have become successful following Enterprise's model. 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. Williams joined Enterprise Products in 1994 and remains the non-executive chairman of the board. Forbes ranks Williams as tied for the 88th wealthiest person in the United States with an estimated net worth of $6.2 billion. A week later, he became ill with fever and chills. Randa is the only one of Dan Duncan's children still involved in the family business. 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. Randa and Charlie Williams at the Audrey Hepburn Society Ball at the . Enemies are nowhere to be found. Investors are already flocking there for a chance at 1,000%+ returns. She was elected as a board director in 2010 and as chairman in 2013. Theyre not looking at it that way. 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. In February this year we launched the Pacific INEOS Belstaff, then the worlds largest ethane carrier, and today alongside our highly anticipated Grenadier 4X4 we have added the second of the worlds largest VLECs to our growing fleet.. Williams is the only one of four. Because nobody is perfect, humans are prone to innumerable bad decisions, or to being manipulated by others into doing things they wouldnt normally do. David Courtney, a.k.a. Prior to joining Enterprise in 1994, Randa practiced law with Brown, Sims, Wise & White and Butler & Binion. The gas and oil company is still under family control. More than 100 of the trophies at the Double D were bagged by Duncan's wife, Jan, a city girl and relative novice at the sport until the two married in 1989. She practiced law for a few years with the law firm Butler & Binon and Brown, Sims, Wise & White. Read him on our breaking news site, Chron.com, and on our subscriber site, houstonchronicle.com. One of those people was Williamsthough she had not been one of the early suitors. 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. That mindset has continued as a philanthropist, he said. Information on this page was last updated on 12/27/2022. The NGL Pipelines & Services segment manages a natural gas processing facility and a related gathering system. Scott B. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. 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. Forbes recently listed Williams as the ninth wealthiest person in Texas. 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. Hunt, sit at No. Levy sold the magazine to Indiana-based Emmis Communications in 1998, and that company sold it in late 2016 to Hobby. 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. Using a process known as fractionation, Enterprise treats and separates natural gas liquids into individual products such as propane, butane and, especially, ethane. 2023 Celebrity Net Worth / All Rights Reserved. Houston Business Journal: "Dan Duncan dies at 77" by Casey Wooten, BusinessWeek: "Executive Profile - Randa Duncan Williams J.D. Biography [ edit] Randa Duncan was born to Barbara Ann and Dan Duncan. 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. 3rd party / other. The EIN for the organization is 59-1630423. Today, though his international hunting trips are largely behind him, he looks as trim and fit as ever. Each has an estimated net worth of $6.2 billion. Unflappable and approachable, he strives for deals that benefit both parties and bases his business philosophy on his grandmother's motto of "Do the best you can every day." She is worth about $9.1 billion and is married to sports and entertainment titan Stan Kroenke, whos worth an estimated $8.3 billion. 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. 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. Randa Duncan Williams. 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. Suddenly, he was being forced to sell assets, cut overhead, arrange payment plans. In January 2019, Hobby hired Dan Goodgame, a veteran magazine editor and correspondent (most notably at Time magazine) whod most recently worked as a communications executive at the San Antoniobased cloud computing company Rackspace, to be the new editor-in-chief. The current estimated net worth of Enterprise. When he was 3 1/2 , his mother came down with tuberculosis. She was made chairwoman in 2013. He said he is confident that Williams understands journalistic principles of editorial freedom, and is committed long-term. Use Next and Previous buttons to navigate, RANDA WILLIAMS - Portraits of each individual honoree to accompany her profile (head and shoulder). | 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. Williams is now in the company of other wealthy citizens who boast legacy media crown jewels in their holdings, including: The sale is the latest in a line of transactions in which a wealthy citizen swoops in to snatch up a venerate and often faltering brand. Williams is the daughter of the late Dan Duncan, who was formerly the richest man in Houston. Based on Enterprise's proxy statement for the deal, the reporter calculated that "this fellow Dan Duncan" had a net worth of more than $4 billion, good for 40th in the magazine's annual ranking of wealthiest Americans. All rights reserved. She is a major philanthropist who focuses on medicine, education, the arts, and cultural institutions. Prior to joining the company, she practiced law with the firms Butler & Binion and Brown, Sims, Wise & White. Find the perfect randa duncan williams stock photo, image, vector, illustration or 360 image. Need to know more? HSTORICAL VOTERI REGISTRATION STATISTICS FOR 123-DAY/154-DAY REPORTS1 FOR PRESIDENTIAL ELECTION YEARS . (Dave Rossman/For the Chronicle). The experience and those of his loved ones made a lasting impression. New Democratic Party. Both individuals are. 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). The partnerships assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. By the time she discovers the truth about Toms life, it may be too late to go back. She is the Chairwoman of Enterprise's board of directors. "No," replied Randy Burkhalter, Duncan's director of investor relations, "but do you really have to print that?". Enterprise Products Partners' insider roster includes Graham Bacon (COO), Carin Barth (Director), Richard Boss (EVP of Accounting), W. Fowler (Co-CEO), John Rutherford (Director), AJ Teague (CEO), and Randa Williams (Director). The four siblings are tied for the second wealthiest people in Houston. Levy sold the. Whats Up With All the Kangaroos on the Loose in Texas? Forbes says the stock generates more than $700 million in annual dividend income for the family. 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. Randa Duncan Williams and her husband live in Houston, of course. 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. 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. $2.5 billion, according to our most recent tally. This chart shows Randa Duncan Williams's buying and selling at Enterprise Products Partners by year and by quarter. His nice guy look hides the type of person his character truly is. ("Dub") Andras, 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. For example, preservation of food and clean water; construction of wind turbines, solar panels and other renewable technologies; for construction of lighter and more fuel-efficient vehicles and aircraft; for medical devices and applications; for clothing and apparel; and for insulation and other industrial and home applications. Theres An App for That. "Major companies wanted to do business with companies with significant assets. Williams holds a bachelors degree from Rice University and a J.D. On HoustonChronicle.com: Houston billionaire buys Texas Monthly. Photo by Bob Levey/Getty Images for U.S. Fund for UNICEF. At 230 metres it is longer than two American football pitches combined (eight basketball courts). 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 Duncan family's net worth comes from pipeline company Enterprise Product Partners, which was founded by Dan Duncanin 1968. The handoff of ownership becomes official June 30. But its message, even if its tough to swallow, is a powerful one that deserves attention, and its delivered strongly by all involved. Its now official: This will be the last season of the brilliant series about a media mogul and his family. Available for both RF and RM licensing. The gift dwarfed any previous donation to the Texas Medical Center. But, for some, Williams might not be a household name. I cant think of a better steward for the heritage of Texas Monthly, said former Houston Mayor Bill White, whos a close friend. City Employees Are Heading for the Exits. Top party schools in every state. The Dragon ships have been regularly transporting ethane across the Atlantic for over six years. If Alice Walton were a family unto herself, shed rank as the fourth wealthiest clan in the country. 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. Above you can find out the answers to those questions and more. Enterprise Products Partners has a market value of $63 billion. Randa Duncan was born to Barbara Ann and Dan Duncan. 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Hackett predicts the biggest player is likely to be Randa Duncan Williams, the late oil man's daughter who heads the family foundation. Major Williams Republican Democratic Los Angeles 2012-2022 Orange 2012-2022 Orange 2021-2022 2012-2021 San Diego 2018-2022 Sonoma 2012-2018 Lassen 2012-2022 . Learn More on Randa Duncan Williams' contact information. Nowhere can that be more jarring than amid the hundreds of mounted animals at his ranch house in Smithville, about 50 miles southeast of Austin. "My idea was to build an asset-based, midstream company that'd serve the industry better than Wanda," Duncan said. Duncan Williams is the eldest child of Dan Duncan, who was Houstons wealthiest man when he died in 2010. All Rights Reserved. Houston investor Randa Duncan Williams pledges to protect the magazines legacy and boost investments in its long-term growth. Bring on the Shiplap. 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. Alice Walton isnt the only Texan whos a member of the Walton dynasty. . Hes nowhere near as rich as he boasts, nor as poor as his critics claim. 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. Dan Duncan famously founded the energy empire that would become Enterprise Products Partners with just $10,000 and a couple of propane trucks. Randa Duncan Williams - Director, Enterprise Products Partners Lp. Why Does He Get to Make That Call? She's very well read, independent-minded and proud of her Texas heritage.". Political party. 10 things to know about Randa Duncan Williams, the Houston billionaire who just bought Texas Monthly. She loves Texas Monthly as much as anybody ever did. To that end, Texas Monthly recently switched its representation in Hollywood from William Morris Endeavor to Creative Artists Agency. In 1995, Duncan waged his own battle with prostate cancer. Duncan can sneak up on you. Chip Gaines Bought Larry McMurtrys Historic Texas Bookstore. He not only had become Houston's richest man, he'd stayed one of its least conspicuous. She was on the trustee boards for the Manned Space Flight Education Foundation, River Oaks Baptist School and the Houston A+ Challenge. 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. The company was founded by Dan L. Duncan in April 1998 and is headquartered in Houston, TX. Williams earned a Bachelor's Degree from Rice University. Since the Baylor gifts and the Forbes listing, Duncan has become the hot new target of the city's fundraisers. How The Duncan Family Became One Of The Wealthiest Families On The Planet With A Combined Net Worth Of $26 Billion. Both his first and second wife succumbed to cancer. Randa Williams Duncan enjoys the highest profile among Houston's richest family. It also is a story full of tragedy. He graduated at 16, a four-sport letterman who twice skipped grades even though he said he never brought a book home. Thanks to a routine annual physical required by banks "When you owe millions of dollars, they worry about your health," he said it was caught early and, after radical surgery with a nerve-sparing technique, he made a full recovery. 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 . Enter your email address below to get our daily insider buying and selling report. INEOS is a Registered Trademark, the property of INEOS Capital Limited. Built in Jiangnan, China and operated by Pacific Gas, the Pacific INEOS Grenadier ismade of approximately 18,000 tonnes of steel and 40,000 metres of piping. If you earn people's trust, you'll receive the first call when they want to make a deal.".
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