Houston, TX

The youngest billionaire in Houston

Ash Jurberg

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Recently Forbes released its annual list of the 400 wealthiest people in America.

Featuring on the list again was Scott Duncan- who at 39 years old also has the title of the youngest billionaire in Houston, and in fact, all of Texas. So let us take a quick look at his story.

The youngest billionaire in Houston

Scott Duncan was born in Houston in 1983 and has a net worth of $6.6 billion- and he can thank his father, Dan, for this vast fortune.

Dan Duncan started Enterprise Products in 1968, and it has boomed into a massive company that now owns 50,000 miles of natural gas, oil, and petrochemical pipelines.

Duncan was the wealthiest person in Houston when he died in 2010, a far cry from his poor upbringing in rural Texas, where he was raised by his grandmother. Thanks to an elimination of the estate tax for the year 2010, Scott Duncan became the first American billionaire to pay no estate tax since its enactment.

Dan's four children, Dannine Avara, Scott Duncan, Milane Duncan Frantz, and Randa Duncan Williams, inherited Dan's wealth when their father passed away. Randa is the only of the siblings actively involved in Enterprise Products, serving as non-executive chairman.

Philanthropy

Despite Scott Duncan having no active involvement in the family business, he does serve as a director of the philanthropic Dan L. Duncan Family Foundation.

This foundation "primarily funds grantmaking related to health and human services, education and youth, the arts, and the environment. It also earmarks funds for other community-related causes in Houston."

They have made significant donations to organizations such as Baylor College of Medicine, Texas Medical Hospital, Texas Children's Hospital, Houston Museum of Natural Science, and the M.D. Anderson Cancer Centre.

Your thoughts

Given Scott Duncan has inherited a billion-dollar fortune, do you think he should be more active in supporting Houston organizations? Which ones do you think he should donate to?

Please leave a comment below with your thoughts.

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