Richest MLP People in America

Source: Hinds Howard, MLP Hindsight (9/22/11)

"The new rich list is out, the one that lists the 400 richest Americans."

The new rich list is out, the one that lists the 400 richest Americans (see here). Gates, Buffett and Ellison top the list, but the biggest movers this year were the Koch brothers, who are now tied for 4th richest Americans at $25 billion (B) each. The rest of the top 20 are combination of money managers (Soros, Paulson), Entrepreneurs (Bloomberg, Zuckerberg, Brin/Page, Bezos, Dell), and Heirs (four Waltons and a Mars).

Were he still alive, Dan Duncan, founder of the largest MLP, Enterprise Products Partners ($EPD), would have probably made the top 20 at around $15B, but instead, his four most significant heirs made the list at $3.4B each.

Others who made the list this year that are affiliated or have been affiliated with MLPs include:

Harold Hamm ($7.5B) – Chairman of defunct MLP Hiland Partners, now owns lots of acreage in the Bakken shale in North Dakota

Rich Kinder ($6.4B) – MLP visionary and CEO of Kinder Morgan Energy Partners ($KMP), the second largest MLP

Rod Lewis ($2.8B) – South Texas E&P guy, sold his midstream business to $EPD for mostly stock in 2006, now is single largest holder of EPD units, owns significant stake in Vanguard Natural Resources ($VNR) also as a result of asset sales

George Lindemann ($2.1B) – CEO of Southern Union ($SUG), which is currently being fought over by Energy Transfer Equity ($ETE) and Williams ($WMB)

Kelcy Warren ($2B) – CEO of $ETE

Ray Davis ($1.4B) – co-founder with Kelcy Warren of what would become $ETE, now owns most of the Texas Rangers

Joe Craft ($1.3B) – CEO of Alliance Resource Partners ($ARLP), coal mining MLP

There are others as well on the periphery of MLPs, like Paul Allen ($13.2B), whose Vulcan Capital owns around 50% of the GP of Plains All American ($PAA), and Phil Anshutz ($7.0B), who at one point owned 25% of the general partner of Pacific Energy Partners, before it was bought by Lehman Brother Private Equity and then sold to $PAA in 2006.

One final note on all of this rich-gazing, in the race for richest Houstonian, Jeff Hildebrand ($5.3B this year) is gaining fast on Kinder, and if $KMI continues to trade like it has been, expect Hildebrand to eclipse him next year. . .

FANG Strikes Merger Deal With Rattler
Source: Streetwise Reports (05/16/2022)

Rattler Midstream LP shares rose 15% after the company reported it entered into an all-stock merger agreement with Diamondback Energy Inc.

NGL Energy Shares Rise 21% as It Seeks to Raise $2.05 Billion from Senior Secured Note Offering
Source: Streetwise Reports (01/21/2021)

Shares of NGL Energy Partners LP traded higher after the firm made a series of announcements over the past three days regarding an update on financial operations, a settlement with a customer in bankruptcy, a quarterly Class D unit distribution and a $2.05 billion senior secured debt offering.

Western Midstream Posts 99% YoY Increase in Q3 Earnings, Announces $250 Million Buyback Program
Source: Streetwise Reports (11/10/2020)

Shares of Western Midstream Partners traded 23% higher after the company reported Q3/20 financial results that included a nearly 100% growth in Net income. The firm also provided FY/21 guidance and announced a $250 million buyback program.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.

Announcing Streetwise Live! Events
Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.