Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 248 Richard Kinder $8.42B

Random fact: Has pledged to give away 95% of his wealth.

Overview

Kinder is the chairman and largest shareholder of Kinder Morgan, a publicly traded energy storage and pipeline company. It operates 143 terminals and 83,000 miles of pipeline that transport natural gas, crude oil, ethanol and other petroleum products. He served as chief executive officer from its founding in 1997 until 2015.

As of :
Last change +$54.0M ( +0.7%)
YTD change +$368M ( +4.6%)
Biggest asset KMI US Equity
Country / Region United States
Age 77
Industry Energy
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Richard Kinder's net worth of $8.42B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Kinder's fortune comes from an 11% stake in Kinder Morgan, a publicly traded pipeline and energy storage company he co-founded in 1997. Kinder Morgan operates 143 terminals and 83,000 miles of pipeline, according to its website.

He owns more than 257 million shares in his own name, his wife's name and through a limited partnership he controls, according to the 2022 proxy filing.

The billionaire has collected more than $2 billion worth of dividends from Kinder Morgan, based on company filings and an analysis of Bloomberg data. Other known investments, share sales and cash from the consolidation of the Kinder Morgan companies are added to his net worth and adjusted to reflect taxes and market performance.

Media representatives for Kinder Morgan didn't respond to emails requesting comment on Bloomberg's net worth calculations for the billionaire.

Biography

Birthdate: 10/19/1944
Family: Married, 1 child
Education: University of Missouri School of Law, University of Missouri

Raised in a small town on the bank of the Mississippi River, the Missouri native befriended the two men who would influence his business career while at the University of Missouri: Kenneth Lay and William Morgan. With Lay, he would help build Enron into a leading energy company in the 1990s. The decision to start unloading physical assets made Kinder uneasy, leading him to leave the company in 1996. With Morgan, he bought some of the assets Enron was selling, forming the basis of Kinder Morgan, a collection of four publicly traded companies that is now the largest pipeline owner and operator in the U.S.

After receiving his law degree at Missouri, Kinder served as a military attorney. He then took a job as a lawyer at a Missouri law firm run by talk show host Rush Limbaugh's father. He started investing in local real estate in the 1970s, until a multi-million-dollar note he guaranteed on a Howard Johnson's motel was called, forcing Kinder into personal bankruptcy. He later repaid the note in full. Morgan helped Kinder get a job in the energy industry as an attorney for Florida Gas. By 1984, Lay's company acquired Florida Gas, uniting the two to create Enron.

After leaving Enron, Kinder focused on acquiring assets -- such as pipelines and storage terminals -- rather than engaging in the energy trading on which Enron's business was built. He later exercised an option to buy out a portion of Morgan's stake, and is now the largest shareholder of Kinder Morgan.

Since creating Kinder Morgan in 1997, the company has increased distributions to shareholders at a 40 percent compounded annual growth rate. Kinder consolidated the four publicly traded entities that are controlled by Kinder Morgan into one company in 2014. From 2011 through early 2015, the business spent $73 billion on acquisitions, including $38 billion for El Paso LLC, a pipeline system.

Milestones
  • 1944 Richard Kinder is born in Cape Girardeau, Missouri.
  • 1968 Collects law degree at U. of Missouri and joins military law unit.
  • 1980 Files for personal bankruptcy protection due to loan guarantee.
  • 1996 Retires as president of Enron, a position he held for six years.
  • 1997 Forms Kinder Morgan.
  • 2006 Takes Kinder Morgan private and renames it Knight Inc.
  • 2011 Knight renamed Kinder Morgan, sells shares in a public offering.
  • 2015 Retires as CEO in June 2015, retaining chairman title.