Dan Duncan
Energy

Dan Duncan Net Worth

Dan Duncan was born in poverty in rural Texas in 1933 and was raised by his grandmother. He cofounded Enterprise Products in 1968 with just two trucks and has since grown the company to preside over 48,000 miles of oil and gas pipelines. Despite the fall in energy prices, the profits of Enterprise Products Partners LP and Enterprise GP have increased by 35% and 70% respectively since last winter. Duncan has also been generous with his wealth, donating $270 million to medical research and education in the past 5 years. In July, he agreed to merge EPP with pipeline outfit Teppco Partners.
Dan Duncan is a member of Energy

Age, Biography and Wiki

Birth Day January 02, 1933
Birth Place United States
Age 87 YEARS OLD
Died On March 28, 2010(2010-03-28) (aged 77)\nRiver Oaks, Houston
Birth Sign Aquarius
Known for co-founder, chairman and majority shareholder of Enterprise Products
Spouse(s) Jan Ellis
Children Randa Duncan Williams Milane Duncan Frantz Dannine Duncan Avara Scott Duncan
Awards Petrochemical Heritage Award

💰 Net worth: $9 Billion (2024)

As of 2024, Dan Duncan, famously known as the Energy King of the United States, boasts an estimated net worth of a staggering $9 billion. With his indomitable presence in the energy sector, Duncan has achieved remarkable success over the years. Starting from humble beginnings, he built his fortune through astute investments and strategic business decisions. His ventures in the oil and gas industry have propelled him to the top, making him one of the wealthiest individuals in the country. With his keen business acumen and relentless drive, Dan Duncan has left an indelible mark on the energy sector, solidifying his reputation as a shrewd and influential entrepreneur.

Biography/Timeline

1933

Duncan was born in 1933 in rural Shelby County, Texas. His Father was a farmer. His mother died of tuberculosis when he was seven and his brother died of blood poisoning in the same year. He lived with his grandmother until he graduated from Shelbyville High School. He joined his Father as a pipeliner and roughneck in the oil and gas fields. Soon after his Father also died of leukemia. Duncan served in the U.S. Army during the Korean War and when he returned in 1955, using the G.I. Bill, he studied Business, Finance and accounting at Massey Business College in Houston while also working at the U.S. Post Office.

1957

In 1957, he went to work for Wanda Petroleum, a midstream pipeline company In 1968, he left Wanda, and with $10,000 and two propane delivery trucks, helped found Enterprise Products Co. In 1998, he took Enterprise Products Partners LP public. In 2010, Enterprise owned over 48,700 miles of onshore and offshore pipelines and nearly 220 million barrel equivalents of natural gas and natural gas liquids of storage capacity. He also headed mid-stream Energy firms Duncan Energy Partners LP (NYSE: DEP) and Enterprise GP Holdings LP (NYSE: EPE). In 2007, he received the Petrochemical Heritage Award in recognition of his work.

1962

Duncan was married to Jan Ellis. He is survived by four children, each of whom is now a billionaire: Randa Duncan Williams (born 1962), Milane Duncan Frantz (born 1970), Dannine Duncan Avara (born 1974), and Scott Duncan (born 1983).

2006

Duncan owned the Double D Ranch, a 5,000-acre (20 km) hunting property in Texas. Duncan was a Safari Club International member who has been given numerous awards for his hunting trophies. In 2006, he received the SCI World Conservation Hunting Award, which requires a hunter to have hunted on six continents, and have received SCI's 13 "Grand Slam" awards, 22 "Inner Circle" awards, the Fourth Pinnacle of Achievement Award and the Crowning Achievement Award. Duncan has 407 entries in SCI's trophy record book, including records for killing lions, elephants, rhinoceroses, a polar bear, and other animals.

2007

On July 18, 2007, Duncan voluntarily appeared before a grand jury in Houston. He answered questions regarding a hunt in Russia in 2002 in which he shot and killed a moose and a wild sheep from a helicopter, which is illegal under Russian law. He admitted to his actions, but said that he did not know that his actions were illegal. His attorney said on September 12, 2007 that a grand jury had declined to bring charges against Duncan and other Hunters who had been on the trip.

2008

According to Forbes magazine, in 2007, Duncan was the richest person in the city of Houston and the 3rd richest person in Texas, with a net worth of 8.2 billion dollars (according to page 46 in the October 27, 2008 issue of Forbes, Duncan's net worth dropped from 7.6 billion on Aug 29th to 6.3 billion on October 1) . He was worth 9.0 billion at the time of his death.

2010

Duncan died aged 77 of a cerebral hemorrhage at his River Oaks, Houston home on March 28, 2010. Due to the repeal of the estate tax law for the year 2010, Duncan became the first American Billionaire to pay no estate tax since its enactment.

Some Dan Duncan images

About the author

Lisa Scholfield

As a Senior Writer at Famous Net Worth, I spearhead an exceptional team dedicated to uncovering and sharing the stories of pioneering individuals. My passion for unearthing untold narratives drives me to delve deep into the essence of each subject, bringing forth a unique blend of factual accuracy and narrative allure. In orchestrating the editorial workflow, I am deeply involved in every step—from initial research to the final touches of publishing, ensuring each biography not only informs but also engages and inspires our readership.