Bloomberg Billionaires Index

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

#412 Tilman Fertitta $4.69B

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


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, a NBA basketball team, for $2.2 billion in 2017.

As of May 26, 2018:
Last change -$16.2M (-0.3%)
YTD change +$809M (+20.9%)
Industry Entertainment
Biggest asset Houston Rockets
Citizenship United States
Age 60
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Tilman Fertitta's net worth of $4.69B 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:

Fertitta's fortune is derived from his ownership of Fertitta Entertainment, the Houston, Texas-based owner of National Basketball Association team Houston Rockets as well as Golden Nugget Casinos and restaurants including Bubba Gump Shrimp, Saltgrass Steak House and Landry's Seafood.

The Houston Rockets are valued using the $2.2 billion price that Fertitta paid for the team in September 2017, according to a Bloomberg News report. A liability associated with his purchase of the team is also included in the net worth calculation.

The company's restaurant unit had revenue of $2.5 billion, earnings before interest taxes and depreciation of $385 million and net debt of about $2 billion in 2017, according to Landry's chief financial officer Rick Liem. It's valued using the average enterprise value-to-Ebitda multiples of three publicly traded peer companies: Buffalo Wild Wings, Texas Roadhouse and Brinker International.

The group's casino business reported revenue of $970 million and Ebitda of $265 million in 2017, and has about $700 million in net debt, according to Liem. It's valued using the enterprise value-to-Ebitda and enterprise value-to-sales multiples of four peers: Penn National Gaming, Pinnacle Entertainment, Boyd Gaming Corp and Eldorado Resorts.

Fertitta also owns about 13 percent of publicly traded Landcadia Holding, according to the company's 2017 annual report.

The value of his cash investments includes real estate holdings and is based on information from Liem.


Birthdate: 6/25/1957
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.

The billionaire lives in Houston with his family. He stars 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.

  • 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.