Houston now lists 10 billionaires: FORBES 400

Houston now lists 10 billionaires: FORBES 400. Check it out:
(Houston Chronicle (KRT) Via Thomson Dialog NewsEdge) Sep. 23--One's an owner of a professional basketball team who got on the list with the help of investments.

Another got there with a boost from the energy sector.

And the third makes much of his money distributing Toyotas.

This year, Houston can claim three more rich people added to Forbes magazine's annual list of the 400 Richest Americans, which was released this week.

Rockets owner Les Alexander, 63, Gulf States Toyota founder Thomas Friedkin, 71, and Hilcorp Energy Co. CEO Jeffery Hildebrand, 47, all made the list with net worths of $1 billion or more.

All three either declined comment or could not be reached.

Alexander and Friedkin, who each had a reported net worth of $1.2 billion, came in ahead of Hildebrand, with $1 billion, but behind Houstonians Dan Duncan, Fayez Sarofim, Richard Kinder, Bob McNair, Joe Jamail, Tracy Krohn and George Mitchell.



Forbes determines the net worths of those on the list by valuing their assets -- from shares of publicly traded companies to real estate holdings to yachts and planes and art collections.

Alexander, No. 322 on the list, had a good year with investments in Boston-based First Marblehead, of which he is a board member. Today, he owns 14.2 million shares worth $750 million in the education-loan processing firm, according to Forbes. The firm's stock has been up 60 percent since January.

University of Texas graduate Hildebrand, No. 374, made much of his wealth via Hilcorp Energy, a privately held exploration and production company that produced 2.9 million barrels of oil last year and a net profit in excess of $90 million, according to Forbes.

Friedkin, who tied for No. 322, made his fortune in part from Gulf States Toyota, which delivers vehicles and parts to dealers in Texas and other states and had estimated sales of more than $4 billion, according to Forbes.

Duncan, 73, chairman of Enterprise Products Partners and the richest Houstonian on the list, saw his wealth increase by $1 billion to $7.5 billion this year, but his rank dropped to 35th place from 34th.

The only Houstonian to move up was W&T Offshore founder Krohn, who climbed to No. 278 this year from No. 320 last year.

Microsoft Chairman Bill Gates' $53 billion put the computer magnate in the No. 1 spot for the 13th year.

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