tilman fertitta
Source: Getty Images

Tilman Fertitta with Hakeem Olajuwon and Clyde Drexler

Tilman Fertitta Has a Business Empire and Huge Net Worth

Kathryn Underwood - Author

Dec. 2 2020, Published 2:05 p.m. ET

Tilman Fertitta is the chairman, CEO, and sole owner of Landry’s, which is one of the country’s largest restaurant corporations. In addition to his restaurant business, Tilman Fertitta has owned the NBA’s Houston Rockets since 2017.  

Article continues below advertisement

Fertitta has an approximate net worth of $6.4 billion, according to the Bloomberg Billionaires Index. In June, he announced plans to take the Golden Nugget online casino company public. This could take place through a blank-check company created with Jefferies Financial Group Inc. However, it's subject to shareholder approval.  

tilman fertitta success
Source: Tilman J. Fertitta Facebook
Article continues below advertisement

How much is Tilman Fertitta worth?

In 1980, Fertitta was a partner in the first Landry’s restaurant in Katy, Tex. Over the coming years, he grew the Landry’s name into a thriving restaurant corporation including over 60 unique brands spanning more than 600 properties. By 1993, he had taken the company public. In 2010, Fertitta purchased back all of the remaining shares and became the sole owner.  

Some of the popular Landry’s restaurants are Bubba Gump Shrimp Co, Claim Jumper, Morton’s The Steakhouse, and McCormick and Schmick’s. The Landry’s Group also includes five Golden Nugget Hotel and Casino locations.

Article continues below advertisement

Fertitta is the author of the 2019 book, Shut Up And Listen! Hard Business Truths That Will Help You Succeed. He also starred in the CNBC television show Billion Dollar Buyer, in which he assessed small businesses to determine their compatibility with the Landry’s brand.  

During the COVID-19 pandemic, as the restaurant and casino businesses struggled, Fertitta furloughed tens of thousands of his employees to cut costs. He also took out loans for hundreds of millions of dollars. Anonymous sources say that Fertitta is in discussions about taking parts of his empire public. 

Article continues below advertisement

While a potential IPO is only in the preliminary stages, one source said it might have a valuation of several billion dollars. Fertitta would likely retain a controlling stake of above 50 percent in the company if there was an IPO. Bloomberg reported that this would also “take advantage of strong investor appetite for new equity offerings to pay down debt.” 

Tilman Fertitta's house

Tilman Fertitta owns an estate in the River Oaks area of Houston, according to Velvet Ropes. The 25,000-square-foot home is situated on 5.4 acres and includes six bedrooms and seven bathrooms.  

Article continues below advertisement

Other amenities at Fertitta’s estate include a tennis court, an outdoor pool, and an 11-car garage. The family uses the home as a backdrop for many fundraising events.  

tilman fertitta businesses
Source: Tilman J. Fertitta Facebook
Article continues below advertisement

Who is Tilman Fertitta’s wife?

Paige Fertitta is Tilman Fertitta's wife. They have been married since 1991 and have several children. The family regularly hosts fundraising events at their home, including a lavish “Santa’s Elves” party every December. The proceeds have been given to the University of Texas MD Anderson Children’s Cancer Hospital, according to The Houston Chronicle.  

Is Tilman Fertitta related to Frank Fertitta?

Tilman Fertitta is a third cousin to Lorenzo Fertitta and Frank Fertitta III, the owners of Station Casinos, according to Las Vegas Review-Journal. Brothers Lorenzo and Frank sold their stakes in UFC’s owner Zuffa in 2016. They both have net worths in the billions.  


Latest Billionaires News and Updates

    © Copyright 2022 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.