Bloomberg Billionaires Index

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# 316 George Kaiser $7.37B

Random fact: Sued by mineral rights owners for underreporting gas volumes.


Kaiser owns Kaiser-Francis Oil, a Tulsa, Oklahoma-based company with wells across the US. He also owns two pipeline systems and has a majority stake in publicly traded BOK Financial, which has more than $46 billion in assets. The billionaire also owns most of the publicly traded LNG company Excelerate Energy.

As of :
Last change -$9.52M ( -0.1%)
YTD change -$97.4M ( -1.3%)
Biggest asset Kaiser-Francis Oil
Country / Region United States
Age 80
Industry Energy
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

George Kaiser's net worth of $7.37B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Most of Kaiser's fortune is derived from oil and gas assets including closely held Kaiser-Francis Oil. He's the company's sole owner, based on legal disclosures. Kaiser-Francis releases no information regarding its size or operations. The valuation is based on estimated production compiled by energy research website ShaleXP. Production is valued against average 2021 prices as published by Bloomberg Intelligence and compared with three public peer companies.

Kaiser also owns 55% of BOK Financial, according to a February 2022 filing. Just over half of these shares have been pledged as collateral and are deducted from his sharecount. BOK Financial has more than $46 billion in assets, according to its website in August 2022.

Other holdings include Argonaut Capital, a private equity firm. Kaiser has invested in two of Argonaut's funds and these are valued using figures from a 2022 ADV filing.

Kaiser is calculated to own 61.7 million shares in liquefied natural gas company Excelerate Energy. This assumes he owns 51% of Excelerate Holdings LLC, an entity that owns about 40 million shares and that Kaiser owns the majority of, according to the firm's April 2022 S-1/A filing.

Kaiser-Francis oil holds stakes in pipelines through Kaiser Midstream LLC. Their revenue is estimated using the average revenue-to-pipeline multiples of three publicly-traded peers, and they are valued using peer enterprise value-to-sales multiple. The pipelines are estimated to cover about 120 miles based on data maintained by the Pipelines and Hazardous Materials Safety Administration.

The value of the pipelines was reduced by $3 billion in July 2021 following a change in methodology.

Spokesperson Renzi Stone at Saxum declined to comment on Kaiser's net worth in April 2022.


Family: Married, 3 children

George Kaiser built his fortune through Kaiser-Francis Oil, an oil and gas exploration company his father created after fleeing Nazi Germany. Kaiser took the reins of the business in 1969, after earning an undergraduate degree and an MBA from Harvard University. The closely held company produces oil and gas through more than 4,400 wells in Oklahoma, according to a 2010 lawsuit deposition in which a Kaiser-Francis employee stated the figure.

In 1991, Kaiser purchased Bank of Oklahoma convertible stock owned by the Federal Deposit Insurance Corporation. At the time, the 20-location bank held $1.6 billion in assets. Kaiser expanded the bank into eight other Midwestern and Southwestern states, growing deposits to more than $21 billion. Today, he is the chairman and majority shareholder of BOK Financial. His charitable organization, the George Kaiser Family Foundation, owns another 4 percent of the banking outfit.

In 2003, with natural gas supply predicted to be inadequate in the US, Kaiser formed Excelerate Energy, a liquified natural gas (LNG) import company that owns floating import and regasification terminals off the coasts of Boston, Argentina, Kuwait, the UK, and elsewhere. It also operates LNG shipping services. He sold half of Excelerate for $500 million to publicly traded German company RWE AG in 2008. He bought that half back in 2013 for less than $50 million, based on RWE disclosures.

Using the profits from Kaiser-Francis and BOK, Kaiser founded Argonaut Ventures, a venture capital arm that has a variety of investments, including a tanker company, the Bombay Stock Exchange, laser printer technology firm Memjet and failed solar outfit Solyndra. The billionaire directed more than $3 billion into his foundation between 2003 to 2013, according to IRS filings.

Kaiser lives in Tulsa and San Francisco with his wife.

  • 1943 George B. Kaiser is born.
  • 1966 Receives an MBA from Harvard University.
  • 1969 Assumes control of the family business, Kaiser-Francis Oil.
  • 2003 Creates LNG import and transport company Excelerate Energy.
  • 2008 Sells half of Excelerate Energy to RWE for $500 million.
  • 2010 Foundation loses about $700 million in Solyndra bankruptcy.
  • 2010 Joins Giving Pledge, promises to donate most of wealth to charity.
  • 2013 Buys back half of Excelerate Energy from RWE for undisclosed amount.