Tilman Fertitta is an American businessman and a billionaire who serves as the CEO of the Landry’s Inc. His Landry’s Inc. corporation is one of America’s largest restaurant corporations making him the world’s richest restaurateur according to the Forbes. Fertitta bought the NBA team Houston Rockets in 2017 for $2.2 billion, and since 2016 he has been hosting his own show Billion Dollar Buyer, a reality TV show in which Fertitta explores new and innovative hospitality centers on the channel CNBC. Continue reading to know more about the life, career, and net worth of Tilman Fertitta in 2018.
Early Life & Biography
Tilman Joseph Fertitta was born on June 25th in the year 1957, in Galveston, Texas, the United States. Tilman attended a high school in Galveston and used to peel shrimp in the restaurant owned by his father Vic on the Galveston Island. Fertitta studied business administration at the Texas Tech University and later studied hospitality management at the University of Houston. Initially, he took up the job of marketing and promoting the Shaklee vitamins and then founded a construction business with the establishment of Key Largo Hotel in the 1980s.
Tilman Fertitta is married to Paige Fertitta, and it is said that Fertitta’s proposal to marry Paige was rejected by her twice and in the third attempt Tilman successfully managed Paige to marry him. The couple is blessed with 4 beautiful children namely Michael, Patrick, Blayne, and Blake.
Career, Awards & Nominations
In 1980, Fertitta became a partner of the restaurant Landry’s Seafood located in Katy, Texas. He was then involved in the establishment of the Willie G’s Seafood & Steaks in Uptown. In 1988, Fertitta became the sole owner of the Landry’s restaurants, and in 1993, he made the company public and its value at the time was estimated to be $30 million.
He acquired Kemah Broadwalk in 1999 and added his restaurants and the Broadwalk Bullet roller coaster along with few other rides. He got the rights of the Holiday Inn On the Beach in the year 2003 and the Hilton Galveston Island Resort in the year 2004. The same year he was elected to the Texas Business Hall of Fame.
He ventured into casino business in 2005, by acquiring the Golden Nugget Casinos and later began constricting casinos in Las Vegas, Atlantic City, New Jersey, Nevada, and Louisiana. In 2010, Fertitta bought all the outstanding shares of the Landry’s Inc. and again became the sole owner of Landry’s Inc.
The value of the company became $1.7 billion in 2011, and by 2013, his company became successful in restaurant and hospitality business with more than 500 establishments with an asset value of $3.2 billion employing over 50,000 people.
From March 2016, Fertitta began to host his reality television show Billion Dollar Buyer on CNBC which became very popular and continues to run till now. In 2017 he bought the NBA team Houston Rockets for $2.2 billion which is a record price for an NBA team.
Net Worth & Earnings
The net worth of the world’s richest restaurateur in 2013 was $2.4 billion which placed him at no. 235 in the Forbes list of 400 wealthiest Americans. He moved to number 212 in the same list in 2017, and the Forbes ranks him currently at no. 499 in its 2018 billionaires list. Currently his net worth is $5 billion.
Apart from being known as a successful business, Tilman Fertitta is also popular for his charity works who is currently the chairman of the Board of the Houston Children’s Charity. Tilman and his wife also host numerous fundraising events at their home in River Oaks.