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According to its website, it has a, Dr. Patrick Soon-Shiong, the Los Angeles Times, All Rights Reserved Poynter Institute 2023, The Poynter Institute for Media Studies, Inc. is a non-profit 501(c)3. Information on this page was last updated on 12/27/2022. [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. Mimi Swartz is a staff writer based in Houston. She was named executor of her fathers estate when he died. 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. 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. He not only had become Houston's richest man, he'd stayed one of its least conspicuous. That $247 billion sum represents close to half of Walmarts annual revenue and is equivalent to the size of Chiles economy. But it's easy to give. Inside the Bro-tastic Party Mansions Upending a Historic Austin Community. Jos R. Ralat is Texas Monthlys taco editor, writing about tacos and Mexican food. However, the publication last changed hands in 2016 for $25 million. 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. 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. The chairman of both Texas Monthly, LLC, and EPCO is Randa Duncan Williams. One of those people was Williamsthough she had not been one of the early suitors. So, who is she? . Leave them blank to get signed up. Randa enjoys the highest profile among the four Duncan siblings. The company makes money from oil and gas pipelines and the transportation and processing of natural gas liquids from fracking. "My idea was to build an asset-based, midstream company that'd serve the industry better than Wanda," Duncan said. Hearst Randolph "Randy" Duncan, Jr. (March 15, 1937 - September 27, 2016) was an American gridiron football quarterback and lawyer.. 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. He thought that such a new business niche could make him a profitable living. Williams joined the family business in 1994 and became president and CEO of Enterprise Products in 2001. 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. Heres what you need to know. 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. After practicing law for several years, she joined Enterprise in 1994, becoming chairwoman in 2013. A major philanthropist like her father, she has focused much of her giving on medicine, education, the arts and cultural institutions, such as the Houston Zoo and the Houston Museum of Natural Science. $2.5 billion, according to our most recent tally. The hub of its NGL processing is just east of Houston in Mont Belvieu, known as the natural gas liquids capital of the world due to its massive complex of underground salt dome storage and processing plants. Related by financial asset: Enterprise Products Partners L.P. 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. Randa is the only one of Dan Duncan's children still involved in the family business. The ship is fitted with Type B tanks, a new design for transporting liquified ethane that optimises vessel capacity. The gas and oil company is still under family control. Seaman Treasurer 1996 - present. Top party schools in every state. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. Why Does He Get to Make That Call? Headquarters: 38 Hans Crescent, Knightsbridge, London, SW1X 0LZ, UK. About INEOS: INEOS is a global manufacturing company making the raw materials and energy used for everyday life. He earned a degree from Massey Business College, then got his start at Wanda Petroleum, a small, independent trucking and underground storage company. [1], She has a JD from the University of Houston and a bachelor's degree from Rice University.[2]. Shes very well read, independent-minded and proud of her Texas heritage.. By the time she discovers the truth about Toms life, it may be too late to go back. She doesn't flaunt her wealth by driving fancy cars or other conspicuously flashy indulgences. Enterprise is Mont Belvieus biggest player. 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. Williams earned a Bachelor's Degree from Rice University. 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. Weve got somebody who understands that whats required here is patient capital, Goodgame said, someone whos not looking at this as the best risk-adjusted ROI on their next dollar. The Natural Gas Pipelines & Services segment stores and transports natural gas. Williamss purchase of Texas Monthly comes at a time of great change in the media industry. [4], In 2019, she purchased Texas Monthly'. Chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father; purchased Texas Monthly in June 2019. Williams is the daughter of the late Dan Duncan, who was formerly the richest man in Houston. 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). Where does she come from? But leaders at Texas Monthly said their most recent ownership set them up for success and made the purchase attractive for Williams. The chairman of both Texas Monthly, LLC, and EPCO is Randa Duncan Williams. But What Is It? After school, she practiced law with Butler & Binion and Brown, Sims, Wise & White. Genesis Park paid $25 million for the brand in 2016, and Hobby called this new deal an ideal outcome for everyone involved. Back home, Duncan was breezing through school. Insiders at Enterprise Products Partners own 32.6% of the company. McInerny, who is 24 in real life, has a look and demeanor that aids in the verisimilitude of the film immensely. 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. Are insane ticket costs pricing Astros fans out of Opening Day? Levy sold the. Dan Duncan famously founded the energy empire that would become Enterprise Products Partners with just $10,000 and a couple of propane trucks. She had strong opinions about things.. "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. It made for tough times for Duncan, whose business philosophy was all about growing the company. From age 8 until 17, by bus or train, all alone, he would journey around the country trips he said gave him a breadth of experience, the view that the world is a nice place, the confidence to approach and relate to people. 2023 Forbes Media LLC. In the last year, Enterprise Products Partners insiders bought shares 6 times. 9. 14. 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. The breakthrough started in the late '90s. (Dave Rossman/For the Chronicle). Williams will be Texas Monthly 's fourth owner since its founding by Mike Levy in 1973. 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. Neither Duncan nor Hobby disclosed details of the deal announced Tuesday. from the University of Houston. 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 can treat it more like a non-profit. Forbes ranks Williams as tied for the 88th wealthiest person in the United States with an estimated net worth of $6.2 billion. Alice Walton isnt the only Texan whos a member of the Walton dynasty. 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. News broke Monday that on Randa Duncan Williams has purchased Texas Monthly magazine from Paul Hobby. New Democratic Party. The Duncan Family is the 21st-wealthiest family in the world, with a. 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. Only ConocoPhillips, valued at $68 billion, is larger among Houston-based companies. Williams, of Houston is the chair of Enterprise Products Partners, a pipeline giant founded by her late father, Dan Duncan, in 1968. . 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. There, all manner of beasts pose majestically lions, leopards, bears, elephants trophies of a lifetime of big-game hunting on every continent but Antarctica. 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 Crude Oil Pipelines & Services segment owns a crude oil pipeline system. 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. 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. 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. He was a risk taker - a wildcatter; a stock trader; and an entrepreneur. Suddenly, Duncan found himself owing 22 percent interest on the $500 million he was in debt. After Wanda was sold in 1968, Duncan decided to go out on his own. 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. He said he is confident that Williams understands journalistic principles of editorial freedom, and is committed long-term. 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. They purchased a total of 65,350 shares worth more than $1,573,730.50. "In fact, he's smart as a whip, someone who doesn't forget a thing, someone you really have to listen to closely.". I remember Randa as being very engaged and politically active, Stein said. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. They just do it in many different ways today. 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. Dan Duncan died of a cerebral hemorrhage at his home in Houston on March 28, 2010. 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. 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. She loves Texas Monthly as much as anybody ever did. For the second time since 2016, Texas Monthly magazine is getting a new owner. The company was founded by Dan L. Duncan in April 1998 and is headquartered in Houston, TX. Randa Duncan was born to Barbara Ann and Dan Duncan. Enter your email address below to get our daily insider buying and selling report. Hints and clues to help you with today's Wordle. She joined Enterprise in 1994 as vice president. The net worth of each heir exceeds $5 billion. Hobbys group paid $25 million for the magazine in 2016. Chip Gaines Bought Larry McMurtrys Historic Texas Bookstore. After a stint in the Army in the mid-1950s he was stationed in Germany doing radio communications Duncan moved to Houston and went back to school. When he was 3 1/2 , his mother came down with tuberculosis. 11 on the Forbeslist.). The history of film is full of both real and fictional cautionary tales, showing how quickly someone can go from leading a relatively normal life to having their world completely turned upside down. Named after the rugged off-road vehicle, the Pacific INEOS Grenadier is a 99,000 CBM VLEC (Very Large Ethane Carrier) and is the latest ship to join the INEOS fleet. In addition to a more robust web presence, Texas Monthly has introduced new podcasts and new live events such as Texas Monthly LIVE and the annual EDGE: The Texas Monthly Festival. 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. 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 previously owned by Genesis Park, a private equity firm also in Houston. 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. All four Duncan siblings have identical wealth and ranking (both in the U.S. and in globally). They have one child. Duncan was part of an illustrious Houston philanthropic . Williams will be Texas Monthlys fourth owner since its founding by Mike Levy in 1973. Prior to joining the company, she practiced law with the firms Butler & Binion and Brown, Sims, Wise & White. Learn More on Randa Duncan Williams' contact information. 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. 30 spot with a net worth of $10.8 billion. At the ceremony, Randa Duncan Williams, Chairman of the general partner of Enterprise Products, formally named the ship and became its official Godmother. Duncan was the first overall pick in the 1959 NFL Draft by the Green . Enemies are nowhere to be found. 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. 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. Randa Duncan Williams and her husband live in Houston, of course. Randa Williams Duncan enjoys the highest profile among Houston's richest family. "In this business, everyone has the same product," said Duncan, who owns 37 percent of Enterprise. 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. Houston pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams tie for 12th place in Texas and tie for 161st nationally. He later became one of the largest pipeline operators in the United States. He was a low profile billionaire in a profitable but unsexy business. Learn More about insider trades at Enterprise Products Partners. Fleeing for Your Life? Available for both RF and RM licensing. Use our Product finder instead. ("Dub") Andras, Handout / Texas Monthly Show More Show Less 2 of 11. Scott B. 13. David Courtney, a.k.a. People in the industry say he has no ego. Learn More on Randa Duncan Williams' trading history. 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. 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. Political party. 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. 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. At No. June 25, 2019 35 Texas Monthly magazine has a new owner. 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!' Robert is the wealthiest of the foursome. 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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. Slowly but surely she falls for him, even though part of her knows the situation feels off. She sits on the board of the University of Texas Health Science Center where a clinic is named after her father at the Children's Learning Institute. 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. Natural gas liquids, or NGLs, are feedstocks for petrochemicals. In 1995, Duncan waged his own battle with prostate cancer. She practiced law for a few years with the law firm Butler & Binon and Brown, Sims, Wise & White. By the late 1970s, when Enterprise really started building assets, Duncan could borrow $300 million from the bank. We will maintain the highest standards as operators of this innovative vessel wherever we are in the world.. The Director DefendantRanda Duncan Williams, O.S . 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.. Like her daddy, she prefers to keep a low profile. Jonathan Tucker and Lily McInerny in Palm Trees and Power Lines. "No," replied Randy Burkhalter, Duncan's director of investor relations, "but do you really have to print that?". 2023 Celebrity Net Worth / All Rights Reserved. Duncan's other secret was his dedication, a work ethic evident by his plan "to keep doing this until they carry me out in a box." 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. Submit a correction suggestion and help us fix it! Jimmy Carters Peanut-and-Egg Taco Made Quite the Impression on San Antonians. 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 . The Austin-based publication is being acquired by an entity owned by Houston investor Randa Duncan Williams, Texas Mon his eldest daughter, Randa Duncan Williams, chairs the Enterprise Products Partners board. Theres An App for That. Jan, whose first marriage failed because her husband didn't want to be married, broke down in tears, moved. Enterprise Products owns over 50,000 miles of energy pipelines, natural gas processing plants and a large oil storage facility on the Gulf Coast. Hes never overtly pushy; instead, he subtly influences her with kindness and attention. Hobby said that he first received interest from potential buyers of Texas Monthly shortly after Genesis Park purchased the magazine. When she gives money, shes selective and wants to ensure it will be spent appropriately. 16 / 25. 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. At the ceremony, Randa Duncan Williams, Chairman of the general partner of Enterprise Products, formally named the ship and became its official Godmother. Use Next and Previous buttons to navigate, RANDA WILLIAMS - Portraits of each individual honoree to accompany her profile (head and shoulder). Williams served as the president and chief executive officer (CEO) of Enterprise Products and vice president at Enterprise Products from 1994 to February 2001. Software entrepreneur Robert Brockman ranks 19th in Texas and ties for 229th nationally with a net worth of $4.7 billion. To keep in shape for the hunts, Duncan would walk up and down the stairs at work, as many as 200 flights a day. 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. Looking for a product? Chart Data in Insider Trading History Table. Duncan's rise didn't come without struggles. 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. Tucker is also well-suited for his part, coming off as non-threatening but still persuasive. Wendy Davis Returns to the Texas Capitol and a Whole New Political Landscape. She is the Chairwoman of Enterprise's board of directors. 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. Randa Duncan Williams Vice President 1996 - present. This is a carousel. Duncan Williams, 57, is the only one of Duncans children actively involved in the family business, where she chairs Enterprises board of directors. The handoff of ownership becomes official June 30. Please visitwww.enterpriseproducts.comfor more information. I . Elsewhere in Texas, The Walton family once again reigns as the richest family in the U.S., according Forbes. (Eric Kayne/Chronicle), Randa Duncan-Williams and Charles Williams at the Musuem of Natural Science Ball Saturday March 4,2006. The impending takeover of HISD by the TEA dates back to 2019, when Wheatley High School triggered a state law by failing to meet accountability standards for seven consecutive years. Are ticket costs pricing Houston Astros fans out of Opening Day? FC Barcelona head coach Xavi Hernandez and president Joan Laporta are not currently seeing eye to eye on the potential sale of misfit winger Raphinha this summer, according to reports. She is one of four children of the late oil billionaire and philanthropist Dan Duncan, who founded Houston-based Enterprise Products Partners, a publicly traded midstream energy company. Joe M. Bailey 1996 - present. Today, though his international hunting trips are largely behind him, he looks as trim and fit as ever. She's in the news recently as she just bought her home state's top magazine, Texas Monthly. Williams joined Enterprise Products in 1994 and remains the non-executive chairman of the board. Randa Duncan Williams. Randa Duncan Williams, 59, is the non-executive chairman of Enterprise Products Partners, founded by her father Dan Duncan. We are also proud ambassadors of the uncompromising Grenadier 4X4. All rights reserved. "People sometimes ask me if I had to do it over again, would I do something different," said Duncan, reflecting on his career during a recent return flight from his ranch. Business & Economy; 25 richest families in America . WWE SmackDown results as Cody Rhodes and Roman Reigns come face-to-face. The four siblings are tied for the second wealthiest people in Houston. Dave Rossman, freelance / For the Chronicle. I cant think of a better steward for the heritage of Texas Monthly, said former Houston Mayor Bill White, whos a close friend.