DJ V Lawrence Posted March 10, 2006 Share Posted March 10, 2006 http://www.chron.com/disp/story.mpl/front/3713390.html Thought the article was worth talking about. There are now 793 billionaires in the world, and 8 calling Houston home. The list includes Houston Texans owner Bob McNair, W&T Offshore dude Tracy Krohn, Attorney Joe Jamail Jr., Fayez Sarofim, George Mitchell, Richard Kinder, and Enterprise Product Partners chairman Dan Duncan. Drayton McClain (Astros Owner) is also on the list, but lives in Tempe, Arizona. We all make mistakes Rizpekt Other than the current members of HAIF, who do you think will be added to the Forbes list next year? Link to comment Share on other sites More sharing options...
77017 Posted March 10, 2006 Share Posted March 10, 2006 Forbes has a minimum of 500m u.s. To make the list. Tilmans worth about 250m right but they calculate that by his stock holdings with landrys. He's got way more cake from what I hear and if he ever decided to start selling off businesses he would easily jump to a billionaire but I doubt hell ever let go of his empire. Link to comment Share on other sites More sharing options...
TJones Posted March 10, 2006 Share Posted March 10, 2006 Dammit, I just missed the cut ! Oh well, maybe I'll make the list in a couple of years. Link to comment Share on other sites More sharing options...
wendyps Posted March 10, 2006 Share Posted March 10, 2006 what would make this list REALLY helpful is if they would list the top wealthist SINGLE people! Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted March 10, 2006 Author Share Posted March 10, 2006 what would make this list REALLY helpful is if they would list the top wealthist SINGLE people! Tryin' to pull an Anna Nicole, aren't ya?! Link to comment Share on other sites More sharing options...
57Tbird Posted March 13, 2006 Share Posted March 13, 2006 Drayton McClain (Astros Owner) is also on the list, but lives in Tempe, Arizona.Actually, Drayton McLane lives just a few miles from me in the bustling metropolis of Temple, Texas. Next time I go into town and run by his place, I will snap a picture and post it. I think it is quite modest by billionaire standards. Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted March 13, 2006 Author Share Posted March 13, 2006 Was anyone surprised that the amount of billionaires that call Houston home was eight? Link to comment Share on other sites More sharing options...
Montrose1100 Posted March 13, 2006 Share Posted March 13, 2006 Was anyone surprised that the amount of billionaires that call Houston home was eight?I would have thought it to be much more...But maybe theres alot of millionaires that didn't make the cut, like they are only worth 999,999,999.99? Link to comment Share on other sites More sharing options...
713 To 214 Posted March 13, 2006 Share Posted March 13, 2006 Was anyone surprised that the amount of billionaires that call Houston home was eight?. . .and, what does that meanfor the city of Houston. . .in your mind? Link to comment Share on other sites More sharing options...
RedScare Posted March 13, 2006 Share Posted March 13, 2006 . . .and, what does that meanfor the city of Houston. . .in your mind? That it is less than Dallas...and tied with Fort Worth? Link to comment Share on other sites More sharing options...
RyanJX5 Posted March 14, 2006 Share Posted March 14, 2006 Houston does have alot more millionaires, probably the most in the south. There are many people that come really close to making the billionaires list in Houston, such as Oscar Wyatt who use to be on the list back in the day. He lost alot of money when he owned 5 million shares of El Paso and the company's stock went way way down after it bought out his Coastal Corp. Robert Mosbacher the former George H W Bush secretary is worth over 250 million. James Flores CEO of Plains is one of the richest in Houston as well, his house in River Oaks the former Wyatt Hyatt, has since been doubled in size and now is worth over 20 million. The Marshall estate billions is now in Fort Worth with his son, after his death. Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted March 14, 2006 Author Share Posted March 14, 2006 . . .and, what does that meanfor the city of Houston. . .in your mind?To me, it just means that eight billionaires live here. Only trivial to me. But billionaires can be a major influence to how things go economically and politically for a city. Ted Turner brought the Olympics and CNN to Atlanta. McNair brought the Texans to H-Town. Bill Gates has Microsoft in Seattle. May not mean much, but if a billionaire starts a project in your hometown, it could mean something for later... Link to comment Share on other sites More sharing options...
Ethanra Posted March 14, 2006 Share Posted March 14, 2006 Houston does have alot more millionaires, probably the most in the south.I did an economic report back in 2000, and come to find out........... Houston has the most millionaires per capital in the U.S. Houston is only behind NY in total number of millionaires. It is not even in the top ten when it comes to billionaires though...... I wish I still had the paper to show the source, it was real interesting. Link to comment Share on other sites More sharing options...
713 To 214 Posted March 14, 2006 Share Posted March 14, 2006 To me, it just means that eight billionaires live here. Only trivial to me. But billionaires can be a major influence to how things go economically and politically for a city. Ted Turner brought the Olympics and CNN to Atlanta. McNair brought the Texans to H-Town. Bill Gates has Microsoft in Seattle. May not mean much, but if a billionaire starts a project in your hometown, it could mean something for later.... . .interesting! Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted March 14, 2006 Author Share Posted March 14, 2006 . . .and, what does that meanfor the city of Houston. . .in your mind? Guess I'd like to ask you the same question. As said before, it's merely trivial. What do U think it represents? Link to comment Share on other sites More sharing options...
713 To 214 Posted March 14, 2006 Share Posted March 14, 2006 Guess I'd like to ask you the same question. As said before, it's merely trivial. What do U think it represents? nothing. I think it's a trivial statistic, as well. However, I think that many people think that the number of millionaires/billionaires living in a particular locale somehow validate that locale as a place for fun, excitement, high quality of life, etc. The natural thought is that these millionaires/billionaires can afford to live anywhere they want. So, if they choose to live in, let's say, San Antonio, then San Antonio's level of fun, excitement, high quality of life, etc. must be good. In short, I think many think the number of millionaires/billionaires a city has validates that city on a certain level. Link to comment Share on other sites More sharing options...
RedScare Posted March 14, 2006 Share Posted March 14, 2006 nothing. I think it's a trivial statistic, as well. However, I think that many people think that the number of millionaires/billionaires living in a particular locale somehow validate that locale as a place for fun, excitement, high quality of life, etc. The natural thought is that these millionaires/billionaires can afford to live anywhere they want. So, if they choose to live in, let's say, San Antonio, then San Antonio's level of fun, excitement, high quality of life, etc. must be good. In short, I think many think the number of millionaires/billionaires a city has validates that city on a certain level.I think you are exactly right.And, those that think that couldn't be more wrong. More likely, the millionaire lives in a particular city because that is where he/she makes his/her millions. Link to comment Share on other sites More sharing options...
Ethanra Posted March 14, 2006 Share Posted March 14, 2006 I think you are exactly right.And, those that think that couldn't be more wrong. More likely, the millionaire lives in a particular city because that is where he/she makes his/her millions.Your exactly right.... In my research paper, Houston had a an enormous number of people worth 1 to 10 million.... This is where they made their money ( high ranking doctors, old oil money, plenty of small buisness persons). Also many athletes who are retired live here because they want there money to last longer but still have very good quality of life (great food, golf, etc....). 1 to 10 million here can go a lot farther here then in NYC or Southern California. Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted March 15, 2006 Author Share Posted March 15, 2006 Your exactly right.... In my research paper, Houston had a an enormous number of people worth 1 to 10 million.... This is where they made their money ( high ranking doctors, old oil money, plenty of small buisness persons). Also many athletes who are retired live here because they want there money to last longer but still have very good quality of life (great food, golf, etc....). 1 to 10 million here can go a lot farther here then in NYC or Southern California.Very true.By the way, I was most surprised that a lawyer was one of the eight billionaires (Joe Jamail Jr.) I didn't know that was a feat possible in law until now. Link to comment Share on other sites More sharing options...
tcole Posted March 15, 2006 Share Posted March 15, 2006 By the way, I was most surprised that a lawyer was one of the eight billionaires (Joe Jamail Jr.) I didn't know that was a feat possible in law until now.It was in the late 80's when Jamail represented Pennzoil in a victorious lawsuit over Texaco in which Pennzoil was ultimately awarded $3bil, of which Jamail was paid 1/3 of said award.The Marshall estate billions is now in Fort Worth with his son, after his death.I think you mean Dallas. Link to comment Share on other sites More sharing options...
RedScare Posted March 15, 2006 Share Posted March 15, 2006 tcole, IIRC, Pennzoil initially won $11 Billion at trial. It was later reduced to $3 Billion in a negotiated settlement in lieu of an appeal. Link to comment Share on other sites More sharing options...
tcole Posted March 15, 2006 Share Posted March 15, 2006 tcole, IIRC, Pennzoil initially won $11 Billion at trial. It was later reduced to $3 Billion in a negotiated settlement in lieu of an appeal.I know. Jamail would have made considerably more had the original judgement held up. Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted March 16, 2006 Author Share Posted March 16, 2006 I know. Jamail would have made considerably more had the original judgement held up. Is he still a lawyer, or did he stop after the Penzoil case? (1 billion in one case? Damn! Gives RedScare hope ) Link to comment Share on other sites More sharing options...
RedScare Posted March 16, 2006 Share Posted March 16, 2006 Is he still a lawyer, or did he stop after the Penzoil case? (1 billion in one case? Damn! Gives RedScare hope ) He is still around, and still practicing law. As you might guess, a case like that comes around only once in a career. As for me, well, don't look for me on any wealthy lists. I decided 5 years ago that the rat race was a losing proposition and started shrinking my business. My expenses are now only 10% of what I was spending in 2001. I only work about one-third as much as I did in 2001. My income dropped too, of course, but that was part of the plan. Much less stress this way. As weird as it sounds, the wealthier you are, the less freedom you have. You spend a lot of time trying to hold onto the stuff you've bought. I much prefer the minimalist lifestyle to trying to impress people that I do not even know. Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted March 16, 2006 Author Share Posted March 16, 2006 He is still around, and still practicing law. As you might guess, a case like that comes around only once in a career. As for me, well, don't look for me on any wealthy lists. I decided 5 years ago that the rat race was a losing proposition and started shrinking my business. My expenses are now only 10% of what I was spending in 2001. I only work about one-third as much as I did in 2001. My income dropped too, of course, but that was part of the plan. Much less stress this way. As weird as it sounds, the wealthier you are, the less freedom you have. You spend a lot of time trying to hold onto the stuff you've bought. I much prefer the minimalist lifestyle to trying to impress people that I do not even know. I like your way of thinking U sound like a person that loves to enjoy life and controls your job instead of letting your job control you. Kool beans, yo! Your statement about those cases only coming around once in a career caught my eye. (by the way to HAIF, please excuse for not knowing more about J. Jamail Jr. I feel I should have known more. Sounds like an influencial dude.) What was Joe Jamail known for in his career that made Penzoil choose him in the case over another? 'Cause I'm sure that wasn't his first big case. Also, how long can a lawyer go on as a lawyer with a bad track record? U know, like 0-16 or something? And is Joe Jamail the only lawyer in America that's a billionaire? 'Cause I can't think of many other cases where you can take a billion dollars home as a representative and not Anna Nicole (she'll be on the list next year, just watch. Supreme Court hookin' dat up). Next statement is the fact that Les Alexander and Chuck Watson both have interests in ice hockey. Not sure where Watson stands, but I know Alexander publicly stated he wants to purchase an NHL franchise. With the money they already have, if either one of them got an NHL team, would it be safe to say that they could be a billionaire if they play their cards right, like say, within a year after they bought that team? And finally, it frightens me that so many millionaires/billionaires in Houston have ties in the energy sector. What are the odds in Houston of another crash or crisis like the one in the late '80s. Link to comment Share on other sites More sharing options...
zaphod Posted April 2, 2006 Share Posted April 2, 2006 Its not how much you have its how you spend it. Whenever i think of rich people i envision them living in LA and partying with celebrities and burning their money on fast cars and drugs, but i guess houston millionares must be old money 3rd generation oil tycoons with lots of investments and not really the glamouros type that has ferraris and goes clubbing at super exclusive places and etc...Very surprising. Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted April 2, 2006 Author Share Posted April 2, 2006 Its not how much you have its how you spend it. Whenever i think of rich people i envision them living in LA and partying with celebrities and burning their money on fast cars and drugs, but i guess houston millionares must be old money 3rd generation oil tycoons with lots of investments and not really the glamouros type that has ferraris and goes clubbing at super exclusive places and etc...Very surprising.That's why I think Houston's rich are WAY smarter than those in NYC, L.A., and Chicago. You get so much more for your money. You still have luxury living, shopping, and cars here, and have access around a MAD business city, and you save so much more. Example: Imagine how much $1 million could get you in Houston as opposed to other major cities. Link to comment Share on other sites More sharing options...
energyman2005 Posted April 7, 2006 Share Posted April 7, 2006 My In-Laws just built a 3 story townhome in Manhattan Beach, CA. It's VERY similar to the stand-alone townhomes being built inside the loop. A similar home inside the loop would probably be $500,000.They are 6 blocks from the beach, with an ocean view from the top floor only. Price: $2.2 Million Link to comment Share on other sites More sharing options...
Houston1stWordOnTheMoon Posted April 7, 2006 Share Posted April 7, 2006 Guess I'd like to ask you the same question. As said before, it's merely trivial. What do U think it represents? \ To me it represents the fact that wealth is more spread around in this city. More people have it than just a small group. Link to comment Share on other sites More sharing options...
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