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. Insiders at Enterprise Products Partners own 32.6% of the company. Where does she come from? Looking for a product? The amount paid for what is called the National Magazine of Texas wasn't disclosed. Randa Duncan Williams is the daughter of the late Dan Duncan, who was the richest man in Houston when he died in 2010. The handoff of ownership becomes official June 30. Randa Duncan Williams has a net worth of $7.2 billion. Enterprise Products, which has an estimated 7,000 employees, is currently ranked at. When Duncan was 7, his brother, Joe, fell and cut his hand on a tin can. They purchased a total of 65,350 shares worth more than $1,573,730.50. 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. 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. Theres An App for That. Randa and her siblings are among the first American billionaires to pay no estate tax on their inheritance due to a temporary repeal in the estate tax law in 2010, the year Dan Duncan died. At the ceremony, Randa Duncan Williams, Chairman of the general partner of Enterprise Products, formally named the ship and became its official Godmother. I . His father, an itinerant pipeliner, died of leukemia when Duncan was 17. Levy sold the. Randa Duncan Williams is non-executive chairman of Enterprise Products Partners, the pipeline giant her father Dan Duncan (d. 2010) founded in 1968. Levy sold the magazine to Indiana-based Emmis Communications in 1998, and that company sold it in late 2016 to Hobby. 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 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. All rights reserved. Submit a correction suggestion and help us fix it! 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. PACs. Williams joined the family business in 1994 and became president and CEO of Enterprise Products in 2001. Randa Williams is 61 years old and was born on 08/28/1961. Forrest Wilder writes about politics and the outdoors. Outside, 20 species of native and exotic game roam the 5,000-acre spread named the Double D. Duncan's passion for hunting dates to boyhood jaunts for small game in East Texas, but it reawakened in his mid-30s, after a trip to New Mexico to hunt Rocky Mountain elk. the Texanist, is a staff writer. Seaman Treasurer 1996 - present. 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. She previously served on the board of directors of Encore Bancshares. Dave Rossman, freelance / For the Chronicle. She practiced law for a few years with the law firm Butler & Binon and Brown, Sims, Wise & White. Prior to joining the company, she practiced law with the firms Butler & Binion and Brown, Sims, Wise & White. A self-made man, he started with a $250 loan from his dad and left a charitable foundation with initial assets of $178 million. We are also proud ambassadors of the uncompromising Grenadier 4X4. Randa Williams (ne Duncan, born 1960/1961), is an American billionaire heir to the Duncan family fortune (through Enterprise Products, which remains under family control). Like Hobby, whose father served as lieutenant governor of Texas and whose grandfather was governor, Williams, 57, comes from a legendary Texas family. These Common Units are owned directly by The Randa Duncan Williams 2018 Family Trust (the "RDW Family Trust"), for which Ms. Williams serves as a director of an entity trustee. She's an attorney, a serious Texas history buff, a mother, a billionaire heiress, and the chairwoman of Enterprise Product Partners. She can recall, paragraph by paragraph, Texas Monthly articles from ten years ago.. One example is Houstons Duncan family, with a net worth of $22 billion, who once again appear on the annual Forbes ranking of America's richest families. Ethane has spurred the modern petrochemical boom along the Gulf Coast by creating the building block chemicals for most plastics. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the RDW Family Trust, except to the extent of her pecuniary interest therein. She's in the news recently as she just bought her home state's top magazine, Texas Monthly. Learn More on Randa Duncan Williams' contact information. 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 . His eldest daughter, Randa Duncan Williams, acknowledges that he wasn't around that much, but she said that wasn't uncommon among her circle of friends. "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. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. The net worth of each heir exceeds $5 billion. She is chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father, and owns Austin-based Texas Monthly magazine. Read him on our breaking news site, Chron.com, and on our subscriber site, houstonchronicle.com. Three months later, the TB claimed his mother. Randa Williams Duncan enjoys the highest profile among Houston's richest family. "In fact, he's smart as a whip, someone who doesn't forget a thing, someone you really have to listen to closely.". Left-handed batters, hurt by the increasingly popular practice of bunching defenders on one side of the field, are exacting their revenge by signing sweet post-shift contracts. Descendants of Sam Walton and brother Bud Walton own about half of Walmarts stock. Palm Trees and Power Lines opens on March 3 in select theaters. While all of the Waltons dont live in the Lone Star State, members of four of the countrys other wealthiest families do. A Federal Judge in Amarillo Could Effectively Ban the Abortion Pill. book to class, Oops! About INEOS: INEOS is a global manufacturing company making the raw materials and energy used for everyday life. ./Wednesday, Feb. 18, 2009, in Houston. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the RDW Family Trust, except to the extent of her pecuniary interest therein. As a child, Duncan lost his mother to tuberculosis and his only sibling, an older brother, to tetanus. Headquarters: 38 Hans Crescent, Knightsbridge, London, SW1X 0LZ, UK. The gift dwarfed any previous donation to the Texas Medical Center. He was a low profile billionaire in a profitable but unsexy business. 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. 10 things to know about Randa Duncan Williams, the Houston billionaire who just bought Texas Monthly. After practicing law for several years, she joined Enterprise in 1994, becoming chairwoman in 2013. 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 . Williams joined Enterprise Products in 1994 and remains the non-executive chairman of the board. "Giving to the community is a way to make a difference. The family fortune has more than doubled . In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. They just do it in many different ways today. Hes never overtly pushy; instead, he subtly influences her with kindness and attention. As she recalls the scene, Duncan jokes, "Great line.". Both Taliaferro and Hobby have repeatedly denied that any such deal took place. 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. (The Duncans come in at No. Texas Monthly should be in good hands under her stewardship, Stein said. Dan Duncan famously founded the energy empire that would become Enterprise Products Partners with just $10,000 and a couple of propane trucks. For the second time in less than three years, Texas Monthly has a new owner. Houston investor Randa Duncan Williams pledges to protect the magazines legacy and boost investments in its long-term growth. Whats Up With All the Kangaroos on the Loose in Texas? 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 has her bachelor's degree in political science and economics from Rice University and her law degree from the University of Houston. This is a carousel. Prior to joining Enterprise in 1994, Randa practiced law with Brown, Sims, Wise & White and Butler & Binion. 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Shes highly engaged and not a passive donor, he said, not just throwing money at a cause without knowing the specifics of how it will be allocated. The four siblings are tied for the second wealthiest people in Houston. 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. Jan, whose first marriage failed because her husband didn't want to be married, broke down in tears, moved. Ms. Williams is the Chairman of Enterprise Products Holdings LLC. Breadcrumb. "He's the anti-stereotype," said Jeff Share, editor of Pipeline & Gas Journal, a trade publication based in Houston. 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. 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. Of course, until Duncan started Enterprise, midstream operations were handled by the major oil and gas companies themselves. At No. A natural with numbers, Duncan quickly rose from accounting to operation and sales to executive vice president. Only pipeline magnate Rich Kinder, with a net worth of $7.3 billion, outranks them. 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." 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!' The Dragon ships have been regularly transporting ethane across the Atlantic for over six years. Duncan was the first overall pick in the 1959 NFL Draft by the Green . Scott B. Learn More on Enterprise Products Partners' active insiders. 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. "My family is delighted to provide the resources to support this iconic Texas institution, which is nationally recognized for its editorial flair.". 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. Randa is the only one of Dan Duncan's children still involved in the family business.