Texas Billionaire Who Levered Restaurant Empire Hit on All Sides
- Tilman Fertitta’s companies are shut down and burning cash
- Houston icon drops off Bloomberg’s list of top 500 fortunes
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Last month, on the Friday before the U.S. stock market recorded its worst weekly plunge since 2008, Texas billionaire Tilman Fertitta was beaming.
As he prepared to host an annual Mardi Gras celebration at a beachfront resort outside Houston, business was booming, pushing his personal fortune to more than $5 billion.