"I was enthralled by their vivid descriptions. 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. As a child, Duncan lost his mother to tuberculosis and his only sibling, an older brother, to tetanus. 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. Texas Monthly should be in good hands under her stewardship, Stein said. Under Hobbys ownership, Texas Monthly began to aggressively reshape its business and editorial operations for this new reality. The ship is fitted with Type B tanks, a new design for transporting liquified ethane that optimises vessel capacity. He was a risk taker - a wildcatter; a stock trader; and an entrepreneur. 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. She is chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father, and owns Austin-based Texas Monthly magazine. 8. The Duncans estimate they throw 30 to 50 dinner parties a year there, many attended by a who's who of Houston's social and corporate elite. Citing the Bible, Jan Duncan said it's important "not to draw attention to oneself, to do good quietly.". Digital revenue has grown from 8 percent of ad sales in 2017 to 20 percent in 2019, while event sponsorship revenue has grown from 6 percent to 18 percent of the total. Williams is a well-known philanthropist who contributes to numerous Houston-based charities. The Duncan family's net worth comes from pipeline company Enterprise Product Partners, which was founded by Dan Duncanin 1968. 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 . 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. Theres a party going on deep in the heart of Texas. Medicine and education are Duncan's pet causes. "Giving to the community is a way to make a difference. Williams will be Texas Monthly 's fourth owner since its founding by Mike Levy in 1973. Most recently, on Wednesday, September 30th, Randa Duncan Williams bought 15,000 shares of Enterprise Products Partners stock. Like Hobby, whose father served as lieutenant governor of Texas and whose grandfather was governor, Williams, 57, comes from a legendary Texas family. Both individuals are Houstonians. It made for tough times for Duncan, whose business philosophy was all about growing the company. A natural with numbers, Duncan quickly rose from accounting to operation and sales to executive vice president. Almost by definition, Enterprise seemed destined to stay under the radar. Dan Duncan famously founded the energy empire that would become Enterprise Products Partners with just $10,000 and a couple of propane trucks. [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. Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. "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. Enter your email address below to get our daily insider buying and selling report. 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 way it played out is poetic.. The most recent insider tranaction occured on December, 27th when Director Carin Marcy Barth bought 5,000 shares worth more than $119,950.00. My signaling was always, Lets complete the process of change first. Early this year, he said, the company retained Goldman Sachs to assist in a potential sale and identified multiple potential bidders who could be good stewards of the brand for the long term. While all of the Waltons dont live in the Lone Star State, members of four of the countrys other wealthiest families do. 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. Submit a correction suggestion and help us fix it! Neither Duncan nor Hobby disclosed details of the deal announced Tuesday. 10 things to know about Randa Duncan Williams, the Houston billionaire who just bought Texas Monthly. Williams earned a Bachelor's Degree from Rice University. 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. 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. Chip Gaines Bought Larry McMurtrys Historic Texas Bookstore. His boss, after all, had amassed his fortune with few people outside the industry noticing and he liked it that way. Theyre not looking at it that way. Related by financial asset: Enterprise Products Partners L.P. He thought that such a new business niche could make him a profitable living. Hobby said that he first received interest from potential buyers of Texas Monthly shortly after Genesis Park purchased the magazine. Report Date Eligible Voters2 Registered Voters Percent . She also serves on the governance and capital projects committees. 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. She is worth about $9.1 billion and is married to sports and entertainment titan Stan Kroenke, whos worth an estimated $8.3 billion. She also serves on the boards of trustees for numerous charitable organizations. The EIN for the organization is 59-1630423. She and her 3 siblings each hold an 8% stake in the family business. Whats Up With All the Kangaroos on the Loose in Texas? She is the Chairwoman of Enterprise's board of directors. He played college football at the University of Iowa in the Big Ten Conference.He played in two Rose Bowls (January 1957, 1959) and was inducted into the College Football Hall of Fame (1997). People consume storytelling more than they ever have, Goodgame said. Fleeing for Your Life? 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. Its now official: This will be the last season of the brilliant series about a media mogul and his family. Editor-in-chief Dan Goodgame said the mood around the office is light, and hes spent the day responding to well-wishers via email and text. To keep in shape for the hunts, Duncan would walk up and down the stairs at work, as many as 200 flights a day. When he was 3 1/2 , his mother came down with tuberculosis. The chairman of both Texas Monthly, LLC, and EPCO is Randa Duncan Williams. 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. Duncan Williams is the eldest child of Dan Duncan, who was Houstons wealthiest man when he died in 2010. 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. 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. Patricia Sharpe writes a regular restaurant column, Pats Pick, for Texas Monthly. He later became one of the largest pipeline operators in the United States. 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. 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. Duncan can sneak up on you. Additionally, she sits on the board of the University of Texas Health Science Center. Forbes estimates shes worth about $68 billion, making her the richest resident of Texas and the richest Walton heir. Houston Business Journal: "Dan Duncan dies at 77" by Casey Wooten, BusinessWeek: "Executive Profile - Randa Duncan Williams J.D. Please visitwww.enterpriseproducts.comfor more information. This is a carousel. She graduated from Rice University with a degree in political science and economics, then earned her law degree from the University of Houston. Shes very well read, independent-minded and proud of her Texas heritage.. Enterprise Products Partners has a market value of $63 billion. Copyright 2022. Shes not ostentatious and she doesnt flaunt her wealth with fancy cars and other flashy indulgences, friends say. Seaman Treasurer 1996 - present. Her father, Dan Duncan, was the co-founder of Enterprise Products. 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. | 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. She has her bachelor's degree in political science and economics from Rice University and her law degree from the University of Houston. Randa enjoys the highest profile among the four Duncan siblings. Since the Baylor gifts and the Forbes. 2023 Celebrity Net Worth / All Rights Reserved. That requires resources. Reflects change since 5 pm ET of prior trading day. His father, an itinerant pipeliner, died of leukemia when Duncan was 17. A Right-wing Cabal Took Over Odessas Municipal Government. My family is delighted to provide the resources to support this iconic Texas institution, which is nationally recognized for its editorial flair. The companys annual sales are around $28 billion. 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. . Back home, Duncan was breezing through school. Dan Duncan founded Enterprise Products Partners in 1968. Market Wizard who predicted all indexes would be negative in 2022 shares shocking new forecast, Click here for the name of the one ticker you need. Handout / Texas Monthly Show More Show Less 2 of 11. The Duncan Family is the 21st-wealthiest family in the world, with a combined $26 billion net worth. After school, she practiced law with Butler & Binion and Brown, Sims, Wise & White. Randa Duncan Williams is the daughter of the late Dan Duncan, who was the richest man in Houston when he died in 2010. How The Duncan Family Became One Of The Wealthiest Families On The Planet With A Combined Net Worth Of $26 Billion. Like her father, Randa stays out of the spotlight. Above you can find out the answers to those questions and more. ./Wednesday, Feb. 18, 2009, in Houston. If you fill out the first name, last name, or agree to terms fields, you will NOT be added to the newsletter list. Randa and her siblings Dannine Avara, Milane Franz, and Scott Ducan weren't born into the wealth they now have. The family fortune has more than doubled . The amount paid for what is called the National Magazine of Texas wasn't disclosed. A week later, he became ill with fever and chills. Plus, whether stronger penalties slow retail theft, the deal with all the near-misses on airport runways, and more. Randa Duncan Williams is a businessperson who has been at the helm of 5 different companies and presently occupies the position of Non-Executive Chairman for Enterprise Products Partners LP, Chairman for Enterprise Products Co., President of DLD Family Investments LLC and Chairman for EPCO Holdings, Inc. Williams served as the president and chief executive officer (CEO) of Enterprise Products and vice president at Enterprise Products from 1994 to February 2001. At the ceremony, Randa Duncan Williams, Chairman of the general partner of Enterprise Products, formally named the ship and became its official Godmother. The richest among them are billionaires Ray Lee Hunt and W. Herbert Hunt, both of Dallas. 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." And she intends to provide them., She wants to own it forever, added Brown. Levy sold the magazine to Indiana-based Emmis Communications in 1998, and that company sold it in late 2016 to Hobby. "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. Dave Rossman, freelance / For the Chronicle. "My idea was to build an asset-based, midstream company that'd serve the industry better than Wanda," Duncan said. 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.. Truth be told, there's little left for Duncan to pursue. It also is a story full of tragedy. But they don't attend many functions on Houston's social circuit. 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. Prior to joining the company, she practiced law with the firms Butler & Binion and Brown, Sims, Wise & White. 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. When Duncan was 7, his brother, Joe, fell and cut his hand on a tin can. However, the publication last changed hands in 2016 for $25 million. The Safari Club International Record Book, which lists the biggest animals ever legally shot, has 550 entries for him. Randa Williams Duncan enjoys the highest profile among Houston's richest family. $2.5 billion, according to our most recent tally. On his first date with Jan, six months after Billie's death, Duncan spoke of how he loved to be married, how he would still be married if his wife hadn't died. But its message, even if its tough to swallow, is a powerful one that deserves attention, and its delivered strongly by all involved. 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 . In 2016, Hobby led private equity investors from Genesis Park to buy the magazine for $25 million. 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. Theyre looking at it the way you look at something you love and that you want to build and that youre going to be patient with.. Scott B. The Grenadier 4X4 combines British spirit and design with German engineering rigour. But, for some, Williams might not be a household name. Enterprise Products owns over 50,000 miles of energy pipelines, natural gas processing plants and a large oil storage facility on the Gulf Coast. Elsewhere in Texas, The Walton family once again reigns as the richest family in the U.S., according Forbes. Rounding out the Texas contingent on the Forbes list are members of Fort Worths Bass family. 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. 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. Prior to joining Enterprise in 1994, Randa practiced law with Brown, Sims, Wise & White and Butler & Binion. 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. 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. Investors are already flocking there for a chance at 1,000%+ returns. 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. 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. As she recalls the scene, Duncan jokes, "Great line.". Available for both RF and RM licensing. Texas Monthly has a new owner. Williams was quoted in a release as saying, My family is delighted to provide the resources to support this iconic Texas institution which is nationally recognized for its editorial flair.. "In fact, he's smart as a whip, someone who doesn't forget a thing, someone you really have to listen to closely.". ", 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. 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. Hints and clues to help you with today's Wordle. Goodgame and Texas Monthly president Scott Brown will continue to work closely together and will report independently to Williams, as they did to Hobby. The process of connecting wells to consumers is one of the most unglamorous but profitable corners of the energy industry. 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. 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!' Her father Dan Duncan became the first American billionaire to pass his fortune tax-free to his descendants due to a temporary repeal of the estate tax law in 2010. The INEOS ethane fleet now consists of twelve vessels including four VLECs, and eight Dragon ships. This weeks Current Climate, which every Saturday brings you the latest news about the business of sustainability. 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. 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. Like her daddy, she prefers to keep a low profile. Houston pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams tie for 12th place in Texas and tie for 161st nationally. Both Taliaferro and Hobby have repeatedly denied that any such deal took place. Insiders at Enterprise Products Partners own 32.6% of the company. If you earn people's trust, you'll receive the first call when they want to make a deal.". Using a process known as fractionation, Enterprise treats and separates natural gas liquids into individual products such as propane, butane and, especially, ethane. "I tell them no. Texas Monthly is the latest in a series of newsrooms to be scooped up and bolstered by the deep and patient pockets of legacy media-loving billionaires. Randa Duncan was born to Barbara Ann and Dan Duncan. He earned a degree from Massey Business College, then got his start at Wanda Petroleum, a small, independent trucking and underground storage company. Get notified the next time Randa Duncan Williams buys or sells Enterprise Products Partners stock. Learn More on Randa Duncan Williams' trading history. He said he is confident that Williams understands journalistic principles of editorial freedom, and is committed long-term. Chart Data in Insider Trading History Table. "Major companies wanted to do business with companies with significant assets. Candidate Party Preference History for the last 10 years* United States Representative District 1 Candidate Party Preference County Timeframe Doug LaMalfa Max Steiner His children Randa Duncan Williams, Milane Frantz, Dannine Duncan Avara and Scott Duncan inherited a $10 billion estate from Dan when he died in 2010. Bill White, the former mayor of Houston said: "I can't think of a better steward for the heritage of Texas Monthly. WWE SmackDown results as Cody Rhodes and Roman Reigns come face-to-face. book to class, Oops! Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. HSTORICAL VOTERI REGISTRATION STATISTICS FOR 123-DAY/154-DAY REPORTS1 FOR PRESIDENTIAL ELECTION YEARS . Seeing the Grenadier 4X4 next to the VLEC was simply spectacular. In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. She is a major philanthropist who focuses on medicine, education, the arts, and cultural institutions. 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. Williams, of Houston is the chair of Enterprise Products Partners, a pipeline giant founded by her late father, Dan Duncan, in 1968. . If I did it over, I'd never be this lucky again.". Stock photos, 360 images, vectors and videos The Petrochemical & Refined Products Services segment offers propylene fractionation, butane isomerization complex, octane enhancement, and refined products. 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. The current estimated net worth of Enterprise. 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). I cant think of a better steward for the heritage of Texas Monthly, said former Houston Mayor Bill White, whos a close friend. 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. Williams is the only one of four siblingsall of whom inherited equal stakes in the companyinvolved in running the family business. 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. 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. 11 on the Forbeslist.). Where does she come from? The vehicle was present as a guest of honour on the quayside as the ceremony took place. And You Thought Feral Hogs Were Bad. When she gives money, shes selective and wants to ensure it will be spent appropriately. Duncan was the first overall pick in the 1959 NFL Draft by the Green .
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