McInerny, who is 24 in real life, has a look and demeanor that aids in the verisimilitude of the film immensely. Today, though his international hunting trips are largely behind him, he looks as trim and fit as ever. 2023 Forbes Media LLC. Read him on our breaking news site, Chron.com, and on our subscriber site, houstonchronicle.com. Insiders at Enterprise Products Partners own 32.6% of the company. Get notified the next time Randa Duncan Williams buys or sells Enterprise Products Partners stock. 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. "I was enthralled by their vivid descriptions. In the last year, Enterprise Products Partners insiders bought shares 6 times. 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. They were very young children when their father famously founded Enterprise Product Partners with $10,000 and a couple of propane trucks. However, the publication last changed hands in 2016 for $25 million. Top party schools in every state. They have looked at the business through every lens. 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. Neither Duncan nor Hobby disclosed details of the deal announced Tuesday. So, who is she? 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. She is chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father, and owns Austin-based Texas Monthly magazine. Details of the transaction werent made public. Ballotpedia uses one or more of the following sources to identify each officeholder's partisan affiliation: (1) direct communication from the officeholder, (2) current or previous candidacy for partisan office, or (3) identification of partisan . 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. Print ad revenue has declined in the same period. People consume storytelling more than they ever have, Goodgame said. Both Goodgame and Brown expressed great hopes for the companys future under Williams. While 2020 has been a nightmare financially for many, some locals have cashed in. Randa Duncan Williams, a Houston billionaire, has purchased the Austin-based magazine. For further information please visit: www.ineosgrenadier.com, Media ContactsRichard Longden (Richard.longden@ineos.com) 0041 21 627 7063 or 0041 7996 26123Andrew McLachlan (andrew@mediazoo.tv) 07931 377162Alex Williams (alex.williams@mediazoo.tv) 07793 207325. Inside the Bro-tastic Party Mansions Upending a Historic Austin Community. The Duncan Family is the 21st-wealthiest family in the world, with a combined $26 billion net worth. Headquarters: 38 Hans Crescent, Knightsbridge, London, SW1X 0LZ, UK. Site designed and developed by The MTM Agency. Learn More on Randa Duncan Williams' trading history. The handoff of ownership becomes official June 30. Tucker is also well-suited for his part, coming off as non-threatening but still persuasive. We know that Randa's political affiliation is unknown . ("Dub") Andras, Dan Duncan founded Enterprise Products Partners in 1968. Citing the Bible, Jan Duncan said it's important "not to draw attention to oneself, to do good quietly.". 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.. David Thompson, CEO of INEOS Trading & Shipping, says: Todays ceremony was very special for INEOS. Like her father, Randa stays out of the spotlight. 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. the Texanist, is a staff writer. As a child, Duncan lost his mother to tuberculosis and his only sibling, an older brother, to tetanus. She and her 3 siblings each hold an 8% stake in the family business. Back home, Duncan was breezing through school. Paul Klotman, M.D. 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). 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. 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. 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. She had strong opinions about things.. This weeks Current Climate, which every Saturday brings you the latest news about the business of sustainability. Leave them blank to get signed up. The richest among them are billionaires Ray Lee Hunt and W. Herbert Hunt, both of Dallas. She is a major philanthropist who focuses on medicine, education, the arts, and cultural institutions. EPCO's principal business was to provide employees, management, and administrative services to Duncan's companies, including Enterprise Products LP, Enterprise Products GP, and (until the 2010 Merger) EPE. She loves Texas Monthly as much as anybody ever did. The EIN for the organization is 59-1630423. That mindset has continued as a philanthropist, he said. She previously served on the board of directors of Encore Bancshares. A week later, he became ill with fever and chills. 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. 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. News broke Monday that on Randa Duncan Williams has purchased Texas Monthly magazine from Paul Hobby. Forbes recently listed Williams as the ninth wealthiest person in Texas. Business & Economy; 25 richest families in America . Dan Duncan died of a cerebral hemorrhage at his home in Houston on March 28, 2010. Looking for a product? Related by financial asset: Enterprise Products Partners L.P. Houston pipeline heirs Dannine Avara, Scott Duncan, Milane Frantz, and Randa Duncan Williams tie for 12th place in Texas and tie for 161st nationally. Enterprise Products Partners has a market value of $63 billion. [8], She lives in Houston with her husband, and they have one child.[7]. Goodgame and Texas Monthly president Scott Brown will continue to work closely together and will report independently to Williams, as they did to Hobby. 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. Willie Nelson pays lovely tribute to another country legend, Rare photos show 2 ocelots crossing South Texas road, Mayor: HISD has two optionsclose school or be taken over. 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. By the late 1970s, when Enterprise really started building assets, Duncan could borrow $300 million from the bank. Enterprises political action committee may give money primarily to Republicans, but her political science professor at Rice, Robert Stein, remembers Duncan Williams as public policy-minded and decidedly more liberal. He said he is confident that Williams understands journalistic principles of editorial freedom, and is committed long-term. A newspaper article once dubbed her father the invisible billionaire. Duncan Williams prefers the background as well. But they don't attend many functions on Houston's social circuit. She graduated from Rice University with a degree in political science and economics, then earned her law degree from the University of Houston. ", 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. All Rights Reserved. Randa enjoys the highest profile among the four Duncan siblings. 11 on the Forbeslist.). 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. 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. 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. "My idea was to build an asset-based, midstream company that'd serve the industry better than Wanda," Duncan said. Each has an estimated net worth of $6.2 billion. Chart Data in Insider Trading History Table. Theres a party going on deep in the heart of Texas. Williams joined Enterprise Products in 1994 and remains the non-executive chairman of the board. Williams holds a bachelors degree from Rice University and a J.D. Rounding out the Texas contingent on the Forbes list are members of Fort Worths Bass family. June 25, 2019 35 Texas Monthly magazine has a new owner. 10 things to know about Randa Duncan Williams, the Houston billionaire who just bought Texas Monthly. The Natural Gas Pipelines & Services segment stores and transports natural gas. 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. WWE SmackDown results as Cody Rhodes and Roman Reigns come face-to-face. 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. 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. He not only had become Houston's richest man, he'd stayed one of its least conspicuous. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. Williams is the only one of four siblingsall of whom inherited equal stakes in the companyinvolved in running the family business. "Major companies wanted to do business with companies with significant assets. Dan Duncan famously founded the energy empire that would become Enterprise Products Partners with just $10,000 and a couple of propane trucks. Because nobody is perfect, humans are prone to innumerable bad decisions, or to being manipulated by others into doing things they wouldnt normally do. 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. ./Wednesday, Feb. 18, 2009, in Houston. Fire Ants Have Unleashed Chaos in Texas for Decades. Use Next and Previous buttons to navigate, RANDA WILLIAMS - Portraits of each individual honoree to accompany her profile (head and shoulder). The gas and oil company is still under family control. Prior to joining the company, she practiced law with the firms Butler & Binion and Brown, Sims, Wise & White. 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. 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. 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. With his ruddy complexion, smooth skin and occasionally impish grin, he exudes the warmth of your favorite uncle. And how much money does she have, anyways? This is the way she wants to contribute to Texas, Stein said, by keeping an iconic publication going., New billionaire owner of Texas Monthly prefers background, Timeline: How battle between Houston ISD, TEA has reached the point of a looming takeover. News broke Monday that on Randa Duncan Williams has purchased Texas Monthly magazine from Paul Hobby. PATRICK . Chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father; purchased Texas Monthly in June 2019. 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. 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. Duncan was part of an illustrious Houston philanthropic . 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. It provides world class off-road capability and durability to those who depend on a vehicle as a working tool, wherever they are in the world. Photo courtesy of Texas Monthly/Gittings Photography, These 4 Houstonians cash in on Forbes' list of richest American families, United Way 2014-15_Single Promoted Articles, MD Anderson Breast Cancer Promoted Article, Professional Skin Treatments by NuMe Express, CultureMap Houston Holiday Pop-up Shop 2017, Martha Turner Sotheby's International Realty, Discomfort of subject matter in Palm Trees and Power Lines serves to prove its strength. As of February 9, 2023 What is Randa Duncan Williams's Net Worth? "The thing about Dan is that he's so down-home and humble that when you first meet him, it'd be easy to get the impression he's just one of the guys," said Bill Waldheim, president of Duke Energy Field Services, one of Duncan's competitors. Williams joined the family business in 1994 and became president and CEO of Enterprise Products in 2001. On the road frequently in the early years, he still puts in 70- to 100-hour weeks when putting together a deal and admits his life's only regret is not spending more time with his four children. All four Duncan siblings have identical wealth and ranking (both in the U.S. and in globally). The ship is fitted with Type B tanks, a new design for transporting liquified ethane that optimises vessel capacity. 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. He liberated airlines and trucking and enabled the 1980s-1990s boom. "In this business, everyone has the same product," said Duncan, who owns 37 percent of Enterprise. 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. It also is a story full of tragedy. Of course, until Duncan started Enterprise, midstream operations were handled by the major oil and gas companies themselves. Enterprise Product Partners is a company which stores, processes and transports oil and gas, known as a midstream operator. But it's easy to give. 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. The process of connecting wells to consumers is one of the most unglamorous but profitable corners of the energy industry. 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. He thought that such a new business niche could make him a profitable living. By 1973, it was a $3 million company. I knew about her passion for the brand, Hobby said, and it was a logical conclusion that she would be interested., From that point on, the sale process involved a rigorous review of the business by Williamss team, Brown said. 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"No," replied Randy Burkhalter, Duncan's director of investor relations, "but do you really have to print that?". Learn More on Enterprise Products Partners' active insiders. 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. "He's the anti-stereotype," said Jeff Share, editor of Pipeline & Gas Journal, a trade publication based in Houston. Learn More on Randa Duncan Williams' trading history. That requires resources. Natural gas liquids, or NGLs, are feedstocks for petrochemicals. "I certainly never expected him to become a billionaire.". 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. 15 among the countrys wealthiest families is the Butt family, with a net worth of $17.8 billion. The experience and those of his loved ones made a lasting impression. The corporate mailing address for Ms. Williams and other Enterprise Products Partners executives is 1100 LOUISIANA 10TH FLOOR, HOUSTON TX, 77002. The company was founded by Dan L. Duncan in April 1998 and is headquartered in Houston, TX. She was elected as a board director in 2010 and as chairman in 2013. It wasn't long before it was just the two of them. Members of St. Theresa Catholic Church in Memorial Park, the couple say they're shy, more comfortable working behind the scenes than in the limelight. And now Randa Duncan Williams is the new owner of the states top magazine, Texas Monthly. 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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. Williams is the only sibling involved in running the family business. Both individuals are Houstonians. 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. Deck structures the film so that Lea is almost the perfect victim, someone whos alienated from those close to her and more than willing to accept someone who promises a type of escape. The vehicle was present as a guest of honour on the quayside as the ceremony took place. 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. And she intends to provide them., She wants to own it forever, added Brown. Randa Williams Duncan enjoys the highest profile among Houston's richest family. Their net worth: $247 billion. Houston pitmaster goes viral after hilarious TV interview, Houston billionaire buys Texas Monthly, promising to invest and invigorate National Magazine of Texas, Willie Nelson's new album is a lovely tribute to a fellow country legend, Two ocelots were photographed crossing a road in rare South Texas sighting, Turner: TEA is giving Houston ISD two optionsclose school or be taken over. But What Is It? Order books are now open for Europe and other key launch markets. We report on vital issues from politics to education and are the indispensable authority on the Texas scene, covering everything from music to cultural events with insightful recommendations. 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. (The Duncans come in at No. 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!' 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. 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. 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. Texas Monthly has a new owner. Truth be told, there's little left for Duncan to pursue. Avara's sister Randa Duncan Williams is the only . She also serves on the boards of trustees for numerous charitable organizations. If Alice Walton were a family unto herself, shed rank as the fourth wealthiest clan in the country. All rights reserved. Duncan's rise didn't come without struggles. The "King Of Quants" sees 10X potential Eric Fry believes he just discovered America's next "Wealth Supercluster" and it's forming in the place you'd least expect. She was named executor of her fathers estate when he died. The Director DefendantRanda Duncan Williams, O.S . Hackett predicts the biggest player is likely to be Randa Duncan Williams, the late oil man's daughter who heads the family foundation. Todd Ackerman was a veteran reporter who covered medicine for the Houston Chronicle. 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.