Building Landry's Has Certainly Paid Off for Tilman Fertitta — Check Out His Net Worth

Tilman Fertitta currently owns the Landry's restaurant empire and the Houston Rockets. How much is his net worth? Let's see how he made billions.

Kathryn Underwood - Author

Feb. 23 2023, Updated 1:10 p.m. ET

Tilman Fertitta
Source: Getty Images

Tilman Fertitta with Hakeem Olajuwon and Clyde Drexler

Tilman Fertitta is the chairman, CEO, and sole owner of Landry’s, one of the country’s largest restaurant corporations. In addition to his restaurant business, Tilman Fertitta has served as the NBA’s Houston Rockets owner since 2017. Given the diverse portfolio Fertitta has, many question just how wealthy Landry's CEO actually is.

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Despite how poorly the Houston Rockets have been performing over the last three seasons, Fertitta isn’t too concerned. With a net worth like his, why would he? Instead, the Rockets owner has set his attention on Victor Wembanyama, who he hopes will help his team regain its footing in the league.

Read on to find out how Fertitta came to be an NBA team owner and more importantly, how he grew his net worth into the billions.

Tilman Joseph Fertitta

Businessman, Founder and CEO of Landry's

Net worth: $9.34 billion

Being a billionaire certainly has its perks. Not only does Tilman Fertitta own a yacht worth an estimated $40 million, but he also owns two private jets.

Born: 1957

Birthplace: Galveston, Texas

Education: Studied business administration and hospitality management at the Texas Tech University and the University of Houston.

Spouse: Paige Farwell​​ (m. 1991, d. 2017), ​Lauren Ware

Kids: 4 (with Paige Farwell)

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Tilman Fertitta (left)
Source: Getty Images

How much is Tilman Fertitta worth?

In 1980, Fertitta was a partner in the first Landry’s restaurant in Katy, Texas. 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.

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

In addition to leading Landry's, Fertitta has also dedicated his time to being an author. In 2019, the Rockets owner published 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.

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From it all, Fertitta has managed to grow his net worth to $9.34 billion, as per the Bloomberg Billionaire's Index.

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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. In 2021, sources said that Fertitta was in discussions about taking parts of his empire public.

While talks of an IPO had the internet buzzing in 2021, it was never carried out. Today, Landry's remains a private company.

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Where does Tilman Fertitta live?

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.  

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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.  

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Who is Tilman Fertitta’s wife?

Fertitta was married to Paige Farwell from 1991 to 2017. The two share four children. While together, the family would regularly host fundraising events at their home, including a lavish “Santa’s Elves” party every December. The proceeds would be given to the University of Texas MD Anderson Children’s Cancer Hospital, according to The Houston Chronicle.

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Following his divorce from Farwell, Fertitta tied the knot with Lauren Ware, who served as a litigation counsel for Landry’s at one time, Paper City Mag reported.

Is Tilman Fertitta related to Frank Fertitta?

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.

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