Bloomberg Billionaires Index

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

# 225 Tilman Fertitta $9.27B

Random fact: Throws an annual Mardi Gras party called the San Luis Salute.

Overview

Fertitta is the chairman and chief executive of Fertitta Entertainment, the owner of Golden Nugget Casinos and restaurant chain Landry's Seafood. The Houston, Texas-based business also owns Bubba Gump Shrimp and the Saltgrass Steak House. He bought the Houston Rockets, an NBA basketball team, for $2.2 billion in 2017.

As of :
Last change +$95.9M ( +1.1%)
YTD change +$864M ( +10.3%)
Biggest asset Fertitta Entertainment
Country / Region United States
Age 66
Industry Entertainment
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Tilman Fertitta's net worth of $9.27B 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:

Fertitta's fortune is derived from his sole ownership of Fertitta Entertainment, the Houston, Texas-based owner of Golden Nugget Casinos and restaurant chains including Bubba Gump Shrimp, Mastro's Steakhouse and Rainforest Cafe.

It's valued using 2021 earnings and the average enterprise value-to-Ebitda multiple of publicly-traded peers Brinker International Inc, Red Rock Resorts Inc, Penn Entertainment Inc, Darden Restaurants Inc and Golden Entertainment Inc.

Fertitta also owns the Houston Rockets. The basketball team is valued at $3.3 billion based on a December 2022 analysis by valuation consultants Sportico. Fertitta paid $2.2 billion for the team in September 2017, according to a Bloomberg News report.

Fertitta owns more than 6.9 million shares in Wynn Resorts Ltd according to an October 2022 filing.

Fertitta's cash and other assets include the Post Oak Hotel in Houston and San Luis Resort in Galveston.

Biography

Birthdate:
Family: Married, No children

Fertitta was born in Galveston, Texas in 1957. The son of a restaurant owner, he moved with his family to the Houston suburbs in 1974, according to a Texas Monthly profile. He attended college for two years before dropping out.

Fertitta got his start in business opening a women's clothing store in 1978. He pivoted to Shaklee vitamin stores shortly thereafter, and soon began leasing arcade and video games to hotels and stores around Houston. He founded Fertitta Construction in 1982.

Looking for a new venture, he decided to buy out much of the leadership at Landry's restaurants in 1986. He became president and CEO of the company in 1987, and held an IPO in 1993. The company underwent a spate of acquisitions between 1996 and 2005, including Crab House Restaurants, Rainforest Cafe, Saltgrass Steak House, Grotto, La Griglia, Pesce and Golden Nugget Hotel and Casinos. Fertitta, who tried for two years to bring Landry's private again, bought the company back in October 2010, according to the Houston Chronicle. The company has since purchased McCormick & Schmick's, Morton's The Steakhouse and Bubba Gump Shrimp Co.

Fertitta appeared on CNBC primetime show "Billion Dollar Buyer," which premiered in March 2016. He bought the Houston Rockets, a National Basketball Association team, for $2.2 billion in September 2017.

Milestones
  • 1957 Fertitta is born in Galveston, Texas.
  • 1974 Family moves to Houston suburbs.
  • 1978 Opens first business, a women's clothing store.
  • 1986 Secures controlling interest in Landry's.
  • 1992 Takes Landry's public.
  • 2009 Successfully bids to take Landry's private again.
  • 2016 Fertitta's "Billion Dollar Buyer" debuts on CNBC.
  • 2017 Buys the Houston Rockets for $2.2 billion.