You have reached your limit of free articles this month.

Enjoy unlimited access to myStatesman.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myStatesman.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myStatesman.com.

Five Austinites make Forbes billionaires list


Austin now can count five billionaires among its residents, according to new data from Forbes magazine.

The magazine on Monday released its annual billionaires list of the wealthiest people on the planet, and Austin-area residents Michael Dell, John Paul DeJoria, Robert F. Smith, David Booth and Bryan Sheffield made the list.

Michael Dell, founder and CEO of Dell Technologies, remains Austin’s wealthiest resident. With a net worth estimated by Forbes at $20.4 billion, Dell ranks No. 38 in the world. Dell, 52, a longtime Austin resident, has about a 70 percent ownership stake in Dell Inc., but has the majority of his wealth in his two investment firms, MSD Capital and MSDC Management, which have interests in real estate, banks, automotive businesses and energy companies.

Dell is the second-wealthiest person in Texas, according to Forbes, behind Wal-Mart heiress Alice Walton, a Fort Worth resident who ranks No. 17 in the world with a net worth of $33.8 billion.

Following Dell among Austin residents was DeJoria, who ranked No. 630 in the world with an estimated net worth of $3.1 billion, according to Forbes. DeJoria, 72, co-founded hair-care company John Paul Mitchell Systems in 1980 and later founded tequila distiller Patrón Spirits.

Smith, 54, co-founder of private equity firm Vista Equity Partners, was the third Austin resident to make the list. Smith, whom Forbes ranks as the second-wealthiest African-American in the United States, ranked No. 814 in the world with an estimated fortune of $2.5 billion.

Booth, co-founder of Austin-based Dimensional Fund Advisors, ranked No. 1,290 on the list of the world’s wealthiest people, with a fortune Forbes estimates at $1.6 billion.

A relative newcomer to the list is Sheffield, the CEO of Austin-based Parsley Energy. Sheffield, 38, ranks as No. 1,567 on the Forbes list of the world’s wealthiest people, with an estimated net worth of $1.25 billion.

A record 2,043 billionaires made the Forbes list for 2017, up 233 from the 2016 list and the largest increase in 31 years, according to the magazine.

Microsoft co-founder Bill Gates retained the top spot on the Forbes list with a net worth of $86 billion, up $11 billion from the previous year. Gates is followed by investment guru Warren Buffett at $75.6 billion and by Amazon founder Jeff Bezos at $72.8 billion.



Reader Comments ...


Next Up in Business

HomeAway plans major expansion, to add 2,000 workers in Austin
HomeAway plans major expansion, to add 2,000 workers in Austin

Austin-based vacation rental company HomeAway is planning a major expansion at The Domain in North Austin, where it will establish its global headquarters in a 16-story office tower that will house more than 2,000 new employees, the company tells the American-Statesman. For the full story, go to www.512tech.com
Business Digest: U.S. jobless aid applications edge higher

ECONOMY U.S. jobless aid applications edge higher WASHINGTON — Slightly more people sought US unemployment benefits last week, but the number of applications remained at a historically low level that suggests the job market is healthy. The Labor Department says weekly applications rose 3,000 to a seasonally adjusted 241,000. The less-volatile...
Starwood increases offer for Austin’s Forestar Group
Starwood increases offer for Austin’s Forestar Group

In the wake of a shareholder lawsuit contending its planned merger deal undervalued the company, Austin-based Forestar Group says it has now received a new, bigger buyout offer from Starwood Capital Group. Forestar Group announced in April that it had agreed to be acquired by Starwood Capital Group, a Connecticut-based investment firm, in a deal valued...
It’s a bird, it’s an … electric airplane?

The startup Who they are: Wright Electric, a startup backed by Y Combinator in Mountain View. What they do: Electric airplanes. Why it’s cool: Electric cars are commonplace around the Bay Area, Tesla is working on an electric semi-truck, and now Wright wants to take that technology to the sky. The founders say going electric will make air travel...
They predicted the ‘WannaCry’ cyberattack, so how come few listen?
They predicted the ‘WannaCry’ cyberattack, so how come few listen?

Misha Govshteyn and his colleagues at the cybersecurity start-up Alert Logic dropped all their projects earlier this year, except for one they deemed a graver threat than the rest. Someone had stolen never-before-seen hacking tactics from the National Security Agency and posted them online. Working in shifts for 36 hours straight, dozens of Alert Logic...
More Stories