Who is Houston Rockets owner Tilman Fertitta?
There is a new name in the mix to buy the Washington Commanders. The Washington Post reported Saturday that Houston Rockets owner Tilman Fertitta placed a bid on the Commanders and recently toured the team’s facilities.
Fertitta purchased the Houston Rockets in 2017 for $2.2 billion. The Post reported Fertitta’s bid for Washington was “slightly above $5.5 billion,” and he was not considered the frontrunner at this time.
Who is Tilman Fertitta?
Here’s some background information on Fertitta.
Net worth
According to Forbes, Fertitta has a net worth of $8.1 billion. He was ranked No. 93 in the 2022 Forbes 400 list. He was worth $4.6 billion in 2021.
Background
Tilman Fertitta was born in Galveston, Texas, and attended college at both Texas Tech and the University of Houston. His first experience as a businessman involved selling vitamins.
In the early 1980s, he founded a construction company, with his first major project being the Key Largo Hotel in Galveston.
Landry's Restaurant
Fertitta was a partner in the first Landry’s Seafood in Texas in the early 1980s. From there, he helped open Willie G’s Seafood, which was in Houston. Once he gained controlling interest in both restaurants, he took Landry’s Inc. public in 1993.
In 2010, Fertitta bought all remaining shares of Landry’s, eventually taking it private again for $1.4 billion. Some of the brands under the Landry’s umbrella include Bubba Gump Shrimp Co., Landry’s Seafood House and Saltgrass Steak House.
Casino business
Fertitta owns Golden Nugget Casinos, which has locations in Atlantic City, Biloxi, Miss., and Louisiana.
In addition to restaurants and casinos, Fertitta also owns amusement parks.
Involvement in sports
Fertitta bought the Rockets in 2017. In addition to his current ownership, Fertitta was an original investor in the NFL’s Houston Texans. However, he had to sell his stake in 2008 due to his owning the casino.
He bought naming rights to the Crawford Boxes at Minute Maid Park, home of the Houston Astros. He renamed it Landry’s Crawford Boxes and would give away prizes, such as gift cards, when fans caught a home run in that section.
Fertitta was interested in bringing an NHL franchise to Houston.
Other facts about Fertitta
A published author, Fertitta’s book, “Shut Up and Listen! Hard Business Truths That Will Help You Succeed,” chronicles his experiences in the restaurant and entertainment industries.
Fertitta is cousins with former UFC owners Lorenzo and Frank Fertitta.
In addition to Rockets’ games, Fertitta is often seen at the University of Houston’s football and basketball games.
Starred in his own reality show on CNBC entitled” Billion Dollar Buyer.”
