Rockets Owner Tilman Fertitta Becomes Houston’s Wealthiest Resident

Tilman Fertitta, owner of the Houston Rockets and head of the Landry’s hospitality empire, has ascended to the position of Houston’s wealthiest person, according to recent rankings of the country’s richest individuals. Fertitta’s net worth is now estimated at $10.1 billion, placing him 99th in the United States and 12th in Texas.

Fertitta’s rise surpasses that of fellow Houstonian Jeffery Hildebrand, founder of energy giant Hilcorp, whose net worth has dropped to an estimated $7.6 billion. In 2023, Fertitta’s wealth was reported at $8 billion by the Houston Chronicle, and his fortune has steadily increased thanks to a series of strategic business moves in recent years.

This growth in Fertitta’s financial standing could have a positive impact on the Rockets as the team’s expenses continue to rise. Several of the franchise’s recent NBA first-round draft picks—Jalen Green, Alperen Şengün, Jabari Smith Jr., Tari Eason, Amen Thompson, Cam Whitmore, and Reed Sheppard—are likely to command substantial salary increases as their careers progress through the 2020s.

Fertitta’s expanding wealth could also support the team’s ongoing upgrades, including the recently unveiled training center and practice facility, a new luxury plane for road trips, and renovations to the Rockets’ home arena, the Toyota Center, located in downtown Houston.

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