Who is Tilman Fertitta and what is his net worth 2018? American businessman and TV celebrity, Tilman Joseph Fertitta is the CEO, chairman and sole owner of one of the largest restaurant corporations in The States, Landry’s Inc. Forbes placed him on their list of 400 wealthiest Americans in 2013. He the world’s richest restaurateur and is also associated with the University of Houston System, where he serves as the chairman of the board of regents. He is also popularly known for his appearance on CNBC’s Billion Dollar Buyer.
Fertitta was born on June 25, 1957, in Galveston, Texas. He has Italian heritage, his parents having immigrated from Sicily, Italy.
He went to the Texas Tech University followed by attending the University of Houston, where he pursued a degree in business administration and hospitality management. He is married to Paige Fertitta and has four children.
Fertitta’s very first entrepreneurial venture comprised of him selling and promoting Shaklee vitamins. He was the founder of a construction and development business in the 1980s. The first major project of this business was Galveston’s Key Largo Hotel.
In 1980, Fertitta became a partner at Houston’s Katy suburb, Landry’s Seafood, the first Landry’s Restaurant. In 1981, he helped open an upscale restaurant in Uptown Houston, Willie G’s Seafood & Steaks. In 1986, he became the sole owner of Landry’s Restaurants and took Landry’s Inc. public in 1993. This year, the company was valued at an estimated $30 million, which exploded to a massive $1.7 billion in 2011.
Landry’s Inc. has over 500 restaurants and other gaming, entertainment, hospitality locations to its name and employs over 50,000 employees.
Since building the Key Largo Hotel, Fertitta has shifted his focus to hospitality and acquired several hotels and resorts on the island of Galveston such as the San Luis Resort, Spa & Conference Center, Holiday Inn On the Beach, the Hilton Galveston Island Resort and Villas at the San Luis.
Landry’s has opened several casinos all over the country since Fertitta bought the Golden Nugget Casinos in Las Vegas and Nevada. Landry’s is also associated with the ownership of amusement parks, aquariums such as the Kemah Boardwalk.
Fertitta was one of the investors of the Houston Texans franchise. He also re-named the Crawford Boxes seating section in the Minute Maid Park to Landry’s Crawford Boxes. In September 2017, he was reported to have agreed to buy the Houston Rockets.
Fertitta also appeared on the CNBC show, Billion Dollar Buyer, his very own reality TV show.
Tilman Fertitta Net Worth
Through Landry’s Inc. and the various hotels, entertainment locations TV appearances, investments and sports team collaborations, Fertitta has an estimated net worth of $4 billion.
Fertitta has been inducted into the Texas business Hall of Fame in 2004. He is the second-youngest Texan to be honoured as such. He is actively involved in fundraising and giving back to his community, having hosted several fundraising galas and events at his home in River Oaks, Houston.
He also serves as the Chairman of the Board of the Houston Children’s Charity as well as the Chairperson of the Houston Police Department’s Police Foundation. He is also a board member of the Houston Livestock Show and rodeo, Texas heart Institute, the Greater Houston partnership and the Museum of Fine Arts, Houston.