Tilman Joseph Fertitta (born June 25, 1957) is an American businessman and television personality. He is the chairman, CEO, and owner of Landry’s, Inc. and owns the Houston Rockets of the NBA. Fertitta has served as chairman of the board of regents of the University of Houston System since 2009.
As of February 2025, his net worth was estimated at $10.8 billion, ranking him at No. 99 on the Forbes 400 list. Fertitta starred in Billion Dollar Buyer on CNBC and purchased the Houston Rockets for $2.2 billion. In December 2024, he was nominated as U.S. Ambassador to Italy and San Marino.
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Tilman Fertitta Net Worth
Tilman Fertitta has a net worth of $9 billion. He serves as the CEO, chairman, and owner of Landry’s, Inc., and is the owner of the NBA team the Houston Rockets. Fertitta starred in the CNBC reality series “Billion Dollar Buyer”. His third cousins are former UFC owners Frank and Lorenzo Fertitta.
In September 2017, Fertitta agreed to buy the Houston Rockets for $2.2 billion, a record price at the time. The Rockets are now worth $4.4 billion. Fertitta was a former minority owner of the Houston Texans. Due to league gambling rules, bettors at Fertitta’s casinos cannot wager on Houston Rockets games.
Early life
Tilman Joseph Fertitta was born in Galveston, Texas on June 25, 1957. He is of Sicilian descent. His father, Vic, owned a seafood restaurant on Galveston Island, where Tilman worked peeling shrimp after school.
Fertitta attended Texas Tech University and the University of Houston, studying business administration and hospitality management, but never graduated. His first entrepreneurial venture was selling and promoting Shaklee vitamins.
Career
In the 1980s, Fertitta founded a construction and development business and developed his first major project, the Key Largo Hotel in Galveston. He was a partner in the first Landry’s Restaurant, Landry’s Seafood, which opened in Katy, Texas, in 1980.
By 1986, Fertitta gained controlling interests in Landry’s and became sole owner in 1988. In 1993, he took Landry’s, Inc. public. By 2011, the company’s value surpassed $1.7 billion. His portfolio includes Golden Nugget, Morton’s The Steakhouse, Rainforest Café, and many others. He is also the owner of Fertitta Entertainment.
Personal life
In 1991, Fertitta married Paige Farwell, with whom he has four children, a daughter and three sons. He is now married to Lauren Ware, a Houston attorney. He is second-cousin to former UFC owners Lorenzo and Frank Fertitta. An avid sports fan, Fertitta supports the University of Houston Cougars and Houston Rockets.
In 2016, he donated $20 million to rebuild Hofheinz Pavilion, now renamed Fertitta Center. He also donated $50 million to establish the Tilman J. Fertitta Family College of Medicine.
How many casinos does Tilman Fertitta own?
Fertitta owns five Golden Nugget casinos located in key areas such as Las Vegas, Laughlin, Louisiana, Mississippi, and Atlantic City, further cementing his status in the gaming and entertainment industry.
Conclusion
Tilman Fertitta’s journey to a $9 billion net worth is a remarkable story of entrepreneurial spirit, strategic planning, and hard work. His diverse portfolio across various industries underscores his ability to identify and capitalize on business opportunities, making him a blueprint for success in the modern business world.
FAQs about Tilman Fertitta
1. What inspired Tilman Fertitta to enter the hospitality business?
Fertitta’s early exposure to his father’s seafood restaurant business likely played a role in his interest in the hospitality industry.
2. Has Tilman Fertitta authored any books?
Yes, Fertitta authored “Shut Up and Listen! Hard Business Truths That Will Help You Succeed,” offering insights and advice based on his experiences.
3. What philanthropic efforts is Tilman Fertitta known for?
Fertitta is known for his contributions to the University of Houston, including significant donations to its medical school and sports facilities.
4. How does Tilman Fertitta’s ownership of the Houston Rockets influence his business portfolio?
Owning the Rockets enhances Fertitta’s profile in the sports industry and complements his vast entertainment and hospitality ventures.
5. What role does Tilman Fertitta play in the community?
Fertitta holds positions on various boards in Houston, contributing to charities and local institutions, which underscores his commitment to community development.
