Houston, TX

Houston billionaire makes another huge donation

Ash Jurberg

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I have written previously about Houston billionaire Richard Kinder who has promised to give away 95% of his billion-dollar fortune.

Richard Kinder, who has a net worth of $7.7 billion, was the president of energy giant Enron before he stepped down in 1997 to start his own business- Kinder Morgan. Kinder Morgan is now the largest energy infrastructure firm in the United States and has over 84,000 miles of pipelines that transport natural gas, refined petroleum products, CO2, and crude oil.

In 1997, Kinder set up the Kinder Foundation to "enrich the lives of people in the Greater Houston area through transformational grants that impact urban green space, education, and quality of life." The foundation is primarily focused on supporting organizations in the Greater Houston Community.

The Kinder Foundation has given $452.7 million in gifts, and recently they made another large donation to benefit the people of Houston. Rice University announced a $50 million grant from the Kinder Foundation to support staff and program expansion at the Kinder Institute for Urban Research and to catalyze inclusive prosperity across the region.

“The Kinder Institute has been a critical community partner in helping us tackle some of Greater Houston’s most complex challenges for families working to land on their feet and stay there. This visionary gift from the Kinder Foundation will transform the Kinder Institute’s ability to leverage data and research with community partners to create lasting change in our community.” United Way of Greater Houston President and CEO Amanda McMillian.

This $50 million is on top of a previous $30 million made from the Kinder Foundation to Rice University.

Over the past decade, the Kinder Institute has played an integral role in shaping Houston. However, we can do more to inform and more directly address the challenges our communities face, particularly in the areas of housing, education, economic mobility, health, and population research.” Richard Kinder, chairman of the Kinder Foundation.

Readers, what do you think of the latest donation from Richard Kinder? And what other organizations in Houston do you think he should support?

Please leave your comments below.

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