Houston, TX

One of Houston's richest people just made a $50 million donation

Ash Jurberg

I have recently written about the generosity of several of Houston's richest people.

The richest person in Houston, Richard Kinder, has promised to give away 95% of his wealth. David Weekley, the founder of David Weekley Homes, signed the Giving Pledge and has donated millions of dollars to Houston organizations. And John and Laura Arnold were the biggest philanthropists in Houston last year, donating $210 million to various organizations.

Now another Houston billionaire has joined the giving party.

Tilman Fertitta, the owner of the Houston Rockets NBA franchise, made a huge donation this week.

Fertitta pledged $50 million to the University of Houston College of Medicine. This donation will pay for new faculty, scholarships, fellowships, and research programs.

"Thanks to the Fertitta family’s amazing generosity, the financial security and longevity of the medical school is cemented for generations to come.” University of Houston President Renu Khator

Fertitta is known for his philanthropy and giving back to the community, devoting a large amount of time to civic service. He serves as Chairman of the Board of the Houston Police Foundation, the Houston Children’s Charity, and the University of Houston. Fertitta also serves on the Texas Heart Institute and Greater Houston Partnership boards.

My philosophy on philanthropy is, a lot is expected, but it’s not just about money; it’s also about doing things. I’ve given away a lot of money, but I haven’t given away a lot of money. You’ve got to remember, I’m still out there building. I’m still spending. If I sold everything and had a few billion dollars in the bank, that would be my life—to give money away.

Fertitta gave $20 million to fund the University of Houston Basketball team’s arena in 2018.

Readers, are you glad to see Fertitta make another large donation? What other organizations in Houston do you think Ferttita should support?

Please leave your comments below.

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