He said he is confident that Williams understands journalistic principles of editorial freedom, and is committed long-term. | Peter.Dawson@chron.com | NEWS WHEN YOU NEED IT: Text CHRON to 77453 to receive breaking news alerts by text message | Sign up for breaking news alerts delivered to your email here. Barbara Allen is the director of college programming for Poynter. And now Randa Duncan Williams is the new owner of the states top magazine, Texas Monthly. Both Brown and Goodgame emphasized that Texas Monthlys long tradition of deep reporting and longform storytelling will remain a core editorial focus. 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. Randa Duncan Williams is the largest individual Enterprise Products Partners shareholder, owning 974.90M shares representing 44.91% of the company. Three months later, the TB claimed his mother. Astros GM Dana Brown has more praise team's top prospect, This is what Houston looks like from space, MLB legend makes surprise appearance at Astros' Spring Training, Meet the Astros prospect tearing up Spring Training, Report: Houston ranked No. She was on the trustee boards for the Manned Space Flight Education Foundation, River Oaks Baptist School and the Houston A+ Challenge. They have looked under every rock. 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 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. Williams is the only sibling involved in running the family business. Forbes says the stock generates more than $700 million in annual dividend income for the family. In person, the 73-year-old Duncan hardly fits the billionaire image. She previously served on the board of directors of Encore Bancshares. Top party schools in every state. Details of the transaction werent made public. He liberated airlines and trucking and enabled the 1980s-1990s boom. Feeling the call of these locales, I dreamed of traveling to each of them, and resolved to make that dream a reality.". Medicine and education are Duncan's pet causes. Print ad revenue has declined in the same period. The NGL Pipelines & Services segment manages a natural gas processing facility and a related gathering system. He was right. "I was enthralled by their vivid descriptions. The amount paid for what is called the National Magazine of Texas wasn't disclosed. "My family is delighted to provide the resources to support this iconic Texas institution, which is nationally recognized for its editorial flair.". Of course, until Duncan started Enterprise, midstream operations were handled by the major oil and gas companies themselves. Heres what you need to know. 2023 Forbes Media LLC. 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. 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. The Campaign to Sabotage Texass Public Schools. Duncan was the first overall pick in the 1959 NFL Draft by the Green . The USA, Canada and Mexico will follow by the end of this year, with first deliveries in 2023. Randa also answers to Randa Duncan Wil, Randa D Williams, Randa L Duncan-williams, Randa Duncanwilliams and Randa Duncanwil, and perhaps a couple of other names. PACs. Like Hobby, whose father served as lieutenant governor of Texas and whose grandfather was governor, Williams, 57, comes from a legendary Texas family. Chip Gaines Bought Larry McMurtrys Historic Texas Bookstore. By the time she discovers the truth about Toms life, it may be too late to go back. 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. A Federal Judge in Amarillo Could Effectively Ban the Abortion Pill. Hobbys tenure as chairman of Texas Monthly also saw some tumult, including several high-profile staff departures and accusations of editorial impropriety in early 2018, when then editor-in-chief Tim Taliaferro was alleged by the Columbia Journalism Review to have agreed to an arrangement in which the dating app Bumble would pay for social media promotion for a Texas Monthly cover story about Bumble founder Whitney Wolfe Herd. They were very young children when their father famously founded Enterprise Product Partners with $10,000 and a couple of propane trucks. 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. FC Barcelona head coach Xavi Hernandez and president Joan Laporta are not currently seeing eye to eye on the potential sale of misfit winger Raphinha this summer, according to reports. "No," replied Randy Burkhalter, Duncan's director of investor relations, "but do you really have to print that?". 15 among the countrys wealthiest families is the Butt family, with a net worth of $17.8 billion. Political party. Profession. 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!' "I tell them no. Their net worth: $247 billion. Prior to joining Enterprise in 1994, Randa practiced law with Brown, Sims, Wise & White and Butler & Binion. Randa Duncan Williams is the daughter of the late Dan Duncan, who was the richest man in Houston when he died in 2010. For the second time since 2016, Texas Monthly magazine is getting a new owner. 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. And how much money does she have, anyways? Please visitwww.enterpriseproducts.comfor more information. Randa is Duncan's eldest child, at 57. She was made chairwoman in 2013. This website is published by INEOS on behalf of its businesses. Forbes also ranks her as tied for the 290th richest person in the world. 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. Both individuals are Houstonians. The gift dwarfed any previous donation to the Texas Medical Center. Likewise, Tom aside from the inherently creepy idea of a 34-year-old man pursuing a 17-year-old girl doesnt come across as a monster. The partnerships assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Elsewhere in Texas, The Walton family once again reigns as the richest family in the U.S., according Forbes. Williams is the daughter of the late Dan Duncan, who was formerly the richest man in Houston. Learn More on Randa Duncan Williams' contact information. This is a carousel. 18 on the Forbes list with a net worth of $15.5 billion. In 2016, Hobby led private equity investors from Genesis Park to buy the magazine for $25 million. Like her father, Randa stays out of the spotlight. At the ceremony, Randa Duncan Williams, Chairman of the general partner of Enterprise Products, formally named the ship and became its official Godmother. HSTORICAL VOTERI REGISTRATION STATISTICS FOR 123-DAY/154-DAY REPORTS1 FOR PRESIDENTIAL ELECTION YEARS . 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. 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. Houston investor Randa Duncan Williams pledges to protect the magazines legacy and boost investments in its long-term growth. If I did it over, I'd never be this lucky again.". She joined Enterprise in 1994 as vice president. She is chairwoman of Houston-based Enterprise Products Partners, the pipeline giant founded by her father, and owns Austin-based Texas Monthly magazine. 9. 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. Suddenly, Duncan found himself owing 22 percent interest on the $500 million he was in debt. Suddenly, he was being forced to sell assets, cut overhead, arrange payment plans. About INEOS: INEOS is a global manufacturing company making the raw materials and energy used for everyday life. Williams will be Texas Monthly 's fourth owner since its founding by Mike Levy in 1973. The Basses hold down the No. Dave Rossman, freelance / For the Chronicle. Houston Business Journal: "Dan Duncan dies at 77" by Casey Wooten, BusinessWeek: "Executive Profile - Randa Duncan Williams J.D. 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 . Prior to joining the company, she practiced law with the firms Butler & Binion and Brown, Sims, Wise & White. Seeing the Grenadier 4X4 next to the VLEC was simply spectacular. $2.5 billion, according to our most recent tally. What Randa wants to bring is an acceleration of those investmentsto make the print magazine better than ever and extend that same level of excellence in storytelling across other platforms. Scott B. 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. The net worth of each heir exceeds $5 billion. Todd Ackerman was a veteran reporter who covered medicine for the Houston Chronicle. Editor-in-chief Dan Goodgame said the mood around the office is light, and hes spent the day responding to well-wishers via email and text. Prior to that, she served as managing editor of Poynter.org. Inside the Bro-tastic Party Mansions Upending a Historic Austin Community. 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. Shes very well read, independent-minded and proud of her Texas heritage.. "The one who seemingly came out of nowhere.". Patricia Sharpe writes a regular restaurant column, Pats Pick, for Texas Monthly. They just do it in many different ways today. We will maintain the highest standards as operators of this innovative vessel wherever we are in the world.. But they don't attend many functions on Houston's social circuit. Hunt, sit at No. Hackett predicts the biggest player is likely to be Randa Duncan Williams, the late oil man's daughter who heads the family foundation. Seaman Treasurer 1996 - present. >>> Scroll through to see which other Houstonians made the list. Learn More on Randa Duncan Williams' trading history. But it's easy to give. On HoustonChronicle.com: Houston billionaire buys Texas Monthly. Enemies are nowhere to be found. Major Williams Republican Democratic Los Angeles 2012-2022 Orange 2012-2022 Orange 2021-2022 2012-2021 San Diego 2018-2022 Sonoma 2012-2018 Lassen 2012-2022 . Dan Duncan, who died in 2010, left the fortune he amassed as the co-founder and chairman of Enterprise Product Partners to his four children, Dannine Avara, Scott Duncan, Milane Frantz and Randa Williams. 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. Houston pitmaster goes viral after hilarious TV interview, 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. Lawyer, environmental consultant. He not only had become Houston's richest man, he'd stayed one of its least conspicuous. City Employees Are Heading for the Exits. Randa Duncan Williams and her husband live in Houston, of course. Are insane ticket costs pricing Astros fans out of Opening Day? Insiders at Enterprise Products Partners own 32.6% of the company. While the privately held magazine doesnt publicly discuss its finances, Goodgame said the last few quarters were spent taking this great storytelling brand and extending it from print, which is still very important to us but we want to take that same storytelling out to the newer platforms where audience is growing, and where revenue is growing, and where Texans want to get their storytelling these days.. 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. The four siblings are tied for the second wealthiest people 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. 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. If you earn people's trust, you'll receive the first call when they want to make a deal.". 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!' I especially enjoy the longform storytelling that has helped earn the magazine fourteen National Magazine Awardsthe industrys equivalent of an Oscarover its 46-year history. Houston billionaire Randa Duncan Williams, chairwoman of midstream giant Enterprise Product Partners LP and daughter of its late founder, leads the company that has now acquired Texas Monthly. The net worth of each heir exceeds $5 billion. The impending takeover of HISD by the TEA dates back to 2019, when Wheatley High School triggered a state law by failing to meet accountability standards for seven consecutive years. Three decades later, numerous companies in the Gulf Coast region have become successful following Enterprise's model. 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. Her role is complex, but the novice actor handles everything thats asked of her extremely well. 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. We know that Randa's political affiliation is unknown . 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. [1], She has a JD from the University of Houston and a bachelor's degree from Rice University.[2]. Additionally, she sits on the board of the University of Texas Health Science Center. Enterprise Products owns over 50,000 miles of energy pipelines, natural gas processing plants and a large oil storage facility on the Gulf Coast. But its message, even if its tough to swallow, is a powerful one that deserves attention, and its delivered strongly by all involved. Stock photos, 360 images, vectors and videos 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. The EIN for the organization is 59-1630423. 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. 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. 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). Astros GM Dana Brown has more praise team's top prospect, This is what Houston looks like from space, MLB legend makes surprise appearance at Astros' Spring Training, Meet the Astros prospect tearing up Spring Training, Report: Houston ranked No. Duncan can sneak up on you. When he was 3 1/2 , his mother came down with tuberculosis. The vehicle was present as a guest of honour on the quayside as the ceremony took place. Only ConocoPhillips, valued at $68 billion, is larger among Houston-based companies. "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. Randa enjoys the highest profile among the four Duncan siblings. On this Wikipedia the language links are at the top of the page across from the article title. 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. This is a carousel. 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. I have been an avid Texas Monthly reader since I was a teenager, Williams said in a statement. Read him on our breaking news site, Chron.com, and on our subscriber site, houstonchronicle.com. Truth be told, there's little left for Duncan to pursue. She graduated from Rice University with a degree in political science and economics, then earned her law degree from the University of Houston. Submit a correction suggestion and help us fix it! 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. Why Does He Get to Make That Call? INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable, and staying ahead of evolving regulations and legislation. Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. Randa Duncan Williams, Chairman of the general partner of Enterprise Products, says: At Enterprise we are delighted to work closely with INEOS. 10 things to know about Randa Duncan Williams, the Houston billionaire who just bought Texas Monthly. 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. 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. "In fact, he's smart as a whip, someone who doesn't forget a thing, someone you really have to listen to closely.". Randa Williams is 61 years old and was born on 08/28/1961. One of those people was Williamsthough she had not been one of the early suitors. Genesis Park paid $25 million for the brand in 2016, and Hobby called this new deal an ideal outcome for everyone involved. Need to know more? 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. Williams is the only one of four siblings involved in running the family business; all four inherited equal stakes in the company. 2010 - present. Using a process known as fractionation, Enterprise treats and separates natural gas liquids into individual products such as propane, butane and, especially, ethane. Randa Duncan Williams's Enterprise Products Partners shares are currently valued at $24.98B.If you're new to stock investing, . He earned a degree from Massey Business College, then got his start at Wanda Petroleum, a small, independent trucking and underground storage company. Levy sold the. 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. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. Williams joined Enterprise Products in 1994 and remains the non-executive chairman of the board. 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. 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. INEOS is a Registered Trademark, the property of INEOS Capital Limited. Neither Duncan nor Hobby disclosed details of the deal announced Tuesday. 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. 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 . 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. David Thompson, CEO of INEOS Trading & Shipping, says: Todays ceremony was very special for INEOS. Hes nowhere near as rich as he boasts, nor as poor as his critics claim. "I remember sitting around the campfire my first venture outside of Texas, listening to other hunters discussing their experiences in Alaska, Canada and Africa," Duncan writes in one of the short pieces he's penned on the joys of hunting. 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. 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." 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Her father Dan Duncan became the first American billionaire to pass his fortune tax-free to his descendants due to a temporary repeal of the estate tax law in 2010. 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. Slowly but surely she falls for him, even though part of her knows the situation feels off.