Were he still alive, Dan Duncan, founder of the largest MLP, Enterprise Products Partners ($EPD), would have probably made the top 20 at around $15B, but instead, his four most significant heirs made the list at $3.4B each.
Others who made the list this year that are affiliated or have been affiliated with MLPs include:
- Harold Hamm ($7.5B) – Chairman of defunct MLP Hiland Partners, now owns lots of acreage in the Bakken shale in North Dakota
- Rich Kinder ($6.4B) – MLP visionary and CEO of Kinder Morgan Energy Partners ($KMP), the second largest MLP
- Rod Lewis ($2.8B) – South Texas E&P guy, sold his midstream business to $EPD for mostly stock in 2006, now is single largest holder of EPD units, owns significant stake in Vanguard Natural Resources ($VNR) also as a result of asset sales
- George Lindemann ($2.1B) – CEO of Southern Union ($SUG), which is currently being fought over by Energy Transfer Equity ($ETE) and Williams ($WMB)
- Kelcy Warren ($2B) – CEO of $ETE
- Ray Davis ($1.4B) – co-founder with Kelcy Warren of what would become $ETE, now owns most of the Texas Rangers
- Joe Craft ($1.3B) – CEO of Alliance Resource Partners ($ARLP), coal mining MLP
There are others as well on the periphery of MLPs, like Paul Allen ($13.2B), whose Vulcan Capital owns around 50% of the GP of Plains All American ($PAA), and Phil Anshutz ($7.0B), who at one point owned 25% of the general partner of Pacific Energy Partners, before it was bought by Lehman Brother Private Equity and then sold to $PAA in 2006.
One final note on all of this rich-gazing, in the race for richest Houstonian, Jeff Hildebrand ($5.3B this year) is gaining fast on Kinder, and if $KMI continues to trade like it has been, expect Hildebrand to eclipse him next year. . .