11 on the Forbeslist.). She joined Enterprise in 1994 as vice president. 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. Nowhere can that be more jarring than amid the hundreds of mounted animals at his ranch house in Smithville, about 50 miles southeast of Austin. She is worth about $9.1 billion and is married to sports and entertainment titan Stan Kroenke, whos worth an estimated $8.3 billion. 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. Genesis Park paid $25 million for the brand in 2016, and Hobby called this new deal an ideal outcome for everyone involved. When Duncan was 7, his brother, Joe, fell and cut his hand on a tin can. "Major companies wanted to do business with companies with significant assets. 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. 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. But, for some, Williams might not be a household name. Profession. The Natural Gas Pipelines & Services segment stores and transports natural gas. It highlights perfectly the immense breadth of the company which now spans from chemicals and energy, to fashion and automotive. 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). Looking for a product? It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. Levy sold the magazine to Indiana-based Emmis Communications in 1998, and that company sold it in late 2016 to Hobby. And how much money does she have, anyways? 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. The Crude Oil Pipelines & Services segment owns a crude oil pipeline system. 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 . Astros GM Dana Brown sees bright future for top prospect Drew Gilbert, This is how astronauts see Houston, Texas Gulf from space with unaided eyes, Roger Clemens makes surprise appearance at Astros' Spring Training, Texas lawmaker files bill to make menstrual products tax free, Proposed Texas bill would offer 12 weeks of paid family leave, Heres how you can watch 'Daisy Jones and the Six', Texas tornados destroy homes, leave 300,000 without power, Texas Republican wants to ban access to abortion websites. The brass at Enterprise Products was busy finalizing a blockbuster transaction in the summer of 2004, when Forbes magazine called with a question about the company's chairman. That's what makes me emotional.". 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. 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. Some brokers just had telephones.". Find the perfect randa duncan williams stock photo, image, vector, illustration or 360 image. The Austin-based publication is being acquired by an entity owned by Houston investor Randa Duncan Williams, Texas Mon Although they werent born into exorbitant wealth, Duncan Williams and her three siblings are tied as the second-wealthiest Houstonians with a net worth of more than $6 billion each, according to Forbes magazine. Both his first and second wife succumbed to cancer. The EIN for the organization is 59-1630423. 10 things to know about Randa Duncan Williams, the Houston billionaire who just bought Texas Monthly. Patricia Sharpe writes a regular restaurant column, Pats Pick, for Texas Monthly. Texas Monthly has a new owner. 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). 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. He earned a degree from Massey Business College, then got his start at Wanda Petroleum, a small, independent trucking and underground storage company. 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. TikTok Is Banking On Project Texas to Avoid a U.S. Ban. Jonathan Tucker and Lily McInerny in Palm Trees and Power Lines. "The one who seemingly came out of nowhere.". his eldest daughter, Randa Duncan Williams, chairs the Enterprise Products Partners board. Lea and her mom, Sandra (Gretchen Mol), are constantly at odds, with Sandra distracted by her work and her own dating life. 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. Duncan's rise didn't come without struggles. The ship is fitted with Type B tanks, a new design for transporting liquified ethane that optimises vessel capacity. The Duncan Family is the 21st-wealthiest family in the world, with a. Randa Duncan Williams, a Houston billionaire, has purchased the Austin-based magazine. And You Thought Feral Hogs Were Bad. If I did it over, I'd never be this lucky again.". "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. 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. Through its proactive approach and long-term cooperation with both upstream and downstream customers worldwide, the company has developed into a global leading facilitator and arranger by establishment of its oceangoing shipping platform, providing diversified shipping service for Methane (LNG), Ethane, Propane and Butane (LPG), and various petrochemical gas products including Ethylene, Propylene, Butadiene etc. 2010 - present. We have the journalists and photographers and designers to do that well already, and we will continue to grow new muscles to do it in new ways. That means not only more podcasts and events and web journalism but also, he said, a new focus on selling Texas Monthly stories to producers of movies, streaming video, and TV series. Jimmy Carters Peanut-and-Egg Taco Made Quite the Impression on San Antonians. Theres An App for That. A New Democrat, Duncan was the only non- Conservative MP from Alberta from the 2008 election until . For the second time since 2016, Texas Monthly magazine is getting a new owner. "I was enthralled by their vivid descriptions. In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. They have looked at the business through every lens. This chart shows Randa Duncan Williams's buying and selling at Enterprise Products Partners by year and by quarter. Theyre not looking at it that way. Heres what you need to know. 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. Goodgame said hes proud of Texas Monthlys recent growth across platforms that extends to live events, podcasts and beyond. 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. Bachelor of Arts/Science, Rice University; Doctor of Jurisprudence, University of Houston. Only ConocoPhillips, valued at $68 billion, is larger among Houston-based companies. She can help strengthen the magazine without needing it to be a money maker. Report Date Eligible Voters2 Registered Voters Percent . Most recently, on Wednesday, September 30th, Randa Duncan Williams bought 15,000 shares of Enterprise Products Partners stock. If you earn people's trust, you'll receive the first call when they want to make a deal.". Robert is the wealthiest of the foursome. 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,. Barbara Allen is the director of college programming for Poynter. Are ticket costs pricing Houston Astros fans out of Opening Day? 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. She is the Chairwoman of Enterprise's board of directors. [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. Randa Duncan Williams, a Houston billionaire and philanthropist. Joe M. Bailey 1996 - present. Use Next and Previous buttons to navigate. EPCO, Texas Monthlys new parent company, also owns various commercial real estate and ranching ventures, as well as a substantial stake in Enterprise Products Partners. Enterprise Products Partners has a market value of $63 billion. 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. However, the publication last changed hands in 2016 for $25 million. 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. Built in Jiangnan, China and operated by Pacific Gas, the Pacific INEOS Grenadier ismade of approximately 18,000 tonnes of steel and 40,000 metres of piping. A Texas history buff owning a magazine about Texas seems like a natural fit. But What Is It? I . ", 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. By the late 1970s, when Enterprise really started building assets, Duncan could borrow $300 million from the bank. [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. Each has an estimated net worth of $6.2 billion. Software entrepreneur Robert Brockman ranks 19th in Texas and ties for 229th nationally with a net worth of $4.7 billion. [7], In 2013, Williams was elected as Enterprise Production Partners' non-executive chairman. 16 / 25. Today, though his international hunting trips are largely behind him, he looks as trim and fit as ever. 18 on the Forbes list with a net worth of $15.5 billion. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. Williams earned a Bachelor's Degree from Rice University. The process of connecting wells to consumers is one of the most unglamorous but profitable corners of the energy industry. I remember Randa as being very engaged and politically active, Stein said. Stock photos, 360 images, vectors and videos The INEOS ethane fleet now consists of twelve vessels including four VLECs, and eight Dragon ships. Williams is the only one of four siblingsall of whom inherited equal stakes in the companyinvolved in running the family business. She can treat it more like a non-profit. 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 Duncan Family is the 21st-wealthiest family in the world, with a combined $26 billion net worth. 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. Randa Duncan Williams's Enterprise Products Partners shares are currently valued at $24.98B.If you're new to stock investing, . Enterprise Products, has grown into the second-largest company headquartered in Houston with a stock market market value of $63 billion. The USA, Canada and Mexico will follow by the end of this year, with first deliveries in 2023. After school, she practiced law with 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. 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. Randa Duncan Williams is non-executive chairman of Enterprise Products Partners, the pipeline giant her father Dan Duncan (d. 2010) founded in 1968. Mr John Lu, President of Pacific Gas said:We are delighted to deliver the Pacific INEOS Grenadier, the second of the largest VLECs in the world, as we extend INEOS ground-breaking ethane trading business. When she gives money, shes selective and wants to ensure it will be spent appropriately. Williams joined Enterprise Products in 1994 and remains the non-executive chairman of the board. Are ticket costs pricing Houston Astros fans out of Opening Day? 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. "My family is delighted to provide the resources to support this iconic Texas institution, which is nationally recognized for its editorial flair.". ("Dub") Andras, It made for tough times for Duncan, whose business philosophy was all about growing the company. Randa Duncan Williams is the largest individual Enterprise Products Partners shareholder, owning 974.90M shares representing 44.91% of the company. He not only had become Houston's richest man, he'd stayed one of its least conspicuous. 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. The terms of the sale were not . The vehicle was present as a guest of honour on the quayside as the ceremony took place. Randa Duncan Williams Vice President 1996 - present. Duncan was part of an illustrious Houston philanthropic . 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. Top party schools in every state. The next summer, he began traveling to visit his father wherever he was working. Slowly but surely she falls for him, even though part of her knows the situation feels off. She also serves on the governance and capital projects committees. The chairman of both Texas Monthly, LLC, and EPCO is Randa Duncan Williams. 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 . Reflects change since 5 pm ET of prior trading day. He thought that such a new business niche could make him a profitable living. Chip Gaines Bought Larry McMurtrys Historic Texas Bookstore. Plus, whether stronger penalties slow retail theft, the deal with all the near-misses on airport runways, and more. This is a carousel. (Eric Kayne/Chronicle), Randa Duncan-Williams and Charles Williams at the Musuem of Natural Science Ball Saturday March 4,2006. The company now owns close to 50,000 miles of energy pipelines and natural gas processing plants, as well as a large oil storage facility on the Gulf Coast. The amount paid for what is called the National Magazine of Texas wasn't disclosed. And now Randa Duncan Williams is the new owner of the states top magazine, Texas Monthly. The Dragon ships have been regularly transporting ethane across the Atlantic for over six years. Site designed and developed by The MTM Agency. Both Brown and Goodgame emphasized that Texas Monthlys long tradition of deep reporting and longform storytelling will remain a core editorial focus. Hunt, sit at No. 2023 Forbes Media LLC. 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. In that and a subsequent horrific scene, Deck is unflinching with the camera, placing it in a single location and rarely cutting, even when things get supremely uncomfortable. Enterprise is Mont Belvieus biggest player. 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. Randa Duncan Williams has not been actively trading shares of Enterprise Products Partners during the last quarter. Williams holds a bachelors degree from Rice University and a J.D. INEOS makes major $1.4 billion acquisition of US onshore oil and gas assets, INEOS Announces Closing of Offering of Senior Secured Notes Due 2028. 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. Of course, until Duncan started Enterprise, midstream operations were handled by the major oil and gas companies themselves. That mindset has continued as a philanthropist, he said. 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. Randa Duncan Williams is Chairman at Enterprise Products Co. See Randa Duncan Williams's compensation, career history, education, & memberships. Forbes estimates shes worth about $68 billion, making her the richest resident of Texas and the richest Walton heir. Randa Duncan Williams is an American billionaire and the non-executive chairman of Enterprise Products Partners, the pipeline company co-founded by her late father Dan Duncan in 1968 with just a pair of propane delivery trucks. 13. Her role is complex, but the novice actor handles everything thats asked of her extremely well. 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. Natural gas liquids, or NGLs, are feedstocks for petrochemicals. (Dave Rossman/For the Chronicle). Randa Williams is 61 years old and was born on 08/28/1961. Bring on the Shiplap. Randa and Charlie Williams at the Audrey Hepburn Society Ball at the . Biography [ edit] Randa Duncan was born to Barbara Ann and Dan Duncan. People in the industry say he has no ego. "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' contact information. How The Duncan Family Became One Of The Wealthiest Families On The Planet With A Combined Net Worth Of $26 Billion. In 2016, Hobby led private equity investors from Genesis Park to buy the magazine for $25 million. 30 spot with a net worth of $10.8 billion. Randa Duncan Williams is non-executive chairman of Enterprise Products Partners, the pipeline giant her father Dan Duncan (d. 2010) founded in 1968. Randa Duncan Williams, Chairman of the general partner of Enterprise Products, says: At Enterprise we are delighted to work closely with INEOS. "Giving to the community is a way to make a difference. In February this year we launched the Pacific INEOS Belstaff, then the worlds largest ethane carrier, and today alongside our highly anticipated Grenadier 4X4 we have added the second of the worlds largest VLECs to our growing fleet.. When he was 3 1/2 , his mother came down with tuberculosis. from the University of Houston. A newspaper article once dubbed her father the invisible billionaire. Duncan Williams prefers the background as well. Randa Duncan Williams - Director, Enterprise Products Partners Lp. He later became one of the largest pipeline operators in the United States. Williams earned herJuris Doctorate from the University of Houston College of Law. Williams is the only sibling involved in running the family business. Get the Poynter newsletter that's right for you. 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. June 25, 2019 35 Texas Monthly magazine has a new owner. 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Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. "In this business, everyone has the same product," said Duncan, who owns 37 percent of Enterprise. 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. 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. Enterprise Products owns over 50,000 miles of energy pipelines, natural gas processing plants and a large oil storage facility on the Gulf Coast. 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!' Randa enjoys the highest profile among the four Duncan siblings. It will also be available on VOD for home viewing. A Federal Judge in Amarillo Could Effectively Ban the Abortion Pill. Texas Monthly should be in good hands under her stewardship, Stein said. Hes never overtly pushy; instead, he subtly influences her with kindness and attention. . Hearst Randolph "Randy" Duncan, Jr. (March 15, 1937 - September 27, 2016) was an American gridiron football quarterback and lawyer.. She was named executor of her fathers estate when he died. Shes a trained lawyer, a Texas history buff, a devoted mother, a billionaire heiress and the chairwoman of the largest Houston company that isnt a household name. David Thompson, CEO of INEOS Trading & Shipping, says: Todays ceremony was very special for INEOS. If you fill out the first name, last name, or agree to terms fields, you will NOT be added to the newsletter list. She graduated from Rice University with a degree in political science and economics, then earned her law degree from the University of Houston. Insiders at Enterprise Products Partners own 32.6% of the company. Besides the Double D ranch, the Duncans have two houses a vacation home in Santa Fe, N.M., and a 35,000-square-foot colonial style plantation house in River Oaks, complete with wine cellar, pool house, old European tapestries and furniture, linen-fold paneling and hand-painted, biblically themed Delft tiles. $2.5 billion, according to our most recent tally. Descendants of Sam Walton and brother Bud Walton own about half of Walmarts stock.