Tilman Fertitta

Net worth over time

Forbes estimates of Tilman Fertitta's net worth each year, next to the Forbes value of the Houston Rockets. From 2012 to now the net worth went from $1.5B to $11.4B, about 8 times as much.

Yearly points are from the Forbes billionaires lists, mostly the spring World's Billionaires list; the last point is the latest Forbes real-time figure, which can differ a lot from the spring list. Years without a published figure are skipped.

The businesses in detail

How the main business makes money. Fertitta Entertainment is paid by diners, gamblers, hotel guests and visitors to its attractions. He built it by buying struggling or under-priced restaurant chains and casinos with borrowed money. Brands include Morton's, Mastro's, Bubba Gump Shrimp Co. and Rainforest Cafe. The company is private and publishes no revenue, profit or debt figures.

Biggest deals.

• 1986 to 2010: he paid $400,000 for control of Landry's and listed it in 1993 at a $30M valuation. He bought back all public shares in 2010.
• Restaurant purchases include Saltgrass Steak House for $75M in 2002 and the Del Frisco's brands for about $650M in 2019.
• 2021-22: sold Golden Nugget Online Gaming to DraftKings for $1.6B in stock.
• May 2026: agreed to buy casino operator Caesars Entertainment for $31 a share in cash. That is about $17.6B including about $11.9B of assumed debt. Shareholders approved on 22 September 2026 with 65.4% in favor. On 14 September the FTC, the federal competition regulator, asked both sides for more information, extending its review. No state gaming approval or closing was found by 28 October; the companies aim to close in spring 2027. The agreement's end date is 27 May 2027, which can extend to 27 November 2027.

Career path

1. 1986

   Pays $400,000 for control of Landry's on 31 December; sole owner by 1988

2. 1993

   Lists Landry's on the stock market; loses a bid for the Rockets to Leslie Alexander

3. 2005

   Landry's buys the Golden Nugget casinos in Las Vegas and Laughlin

4. 2010

   Takes Landry's private

5. 2017

   Buys the Rockets for $2.2B

6. 2020

   Furloughs or lays off about 40,000 staff in the pandemic; borrows $300M at 13%

7. 2025

   Confirmed as ambassador by the Senate, 83-14, on 29 April

8. 2026

   WNBA purchase approved on 13 May; Caesars purchase agreed on 28 May

Teams and sports assets

Owns now 3

• teamHouston RocketsNBA · Basketball · USSince 2017 · 100% · $2.2B
• teamConnecticut Sun (to become the Houston Comets in 2027)WNBA · Basketball · USSince 2026 · About $300M, per press reports; the league gave no price
• sports businessDraftKings sharesSports betting · USSince 2022 · Large holding; size not published · Received when Golden Nugget Online Gaming was sold to DraftKings for $1.6B in stock

Owned before 1

• teamHouston TexansNFL · American football · USMinority partner of Bob McNair

Other investments and assets

• Companies and funds: 12.7% of Wynn Resorts (July 2026), where he is the largest individual shareholder. He also holds a large DraftKings stake.
• Property: The Post Oak Hotel in Houston and Montage Laguna Beach, bought for about $650M in 2022. He agreed in 2022 to buy six acres on the Las Vegas Strip for $200M.
• Family in the business: His son Patrick Fertitta is the Rockets' alternate governor. All four children from his first marriage work in the family business.

Giving and politics

• He gave the University of Houston $20M for its basketball arena in 2016 and about $50M for its medical school in 2022.
• He was a University of Houston System regent from 2009 to May 2025 and chairman from 2014.
• He gave more than $420,000 to groups backing Donald Trump and more than $1.1M to Governor Greg Abbott's 2022 campaign.

How they run their teams

• The State Department ruled he could keep the Rockets but must stay out of daily operations. Patrick Fertitta handles ownership duties.
• Patrick has driven recent calls, such as extending coach Ime Udoka at $11M a year through 2031.
• The Rockets paid no luxury tax, the league's charge on high payrolls, in his first years.

What they have said

• After a 16-win season, he said he would not rush moves to get back to the playoffs.
• He called owning the Rockets a dream and said he bought the club to pass down to his family.
• During the 2020 cash squeeze, he was reported as unwilling to sell even a small piece of the team.
• He told the State Department he would keep only a passive interest in his companies and need not sell the Rockets.
• Through his executives, he told regulators he will keep his Wynn stake while buying Caesars.

Little-known facts

• He lost the Rockets to Leslie Alexander in 1993. He bought the team from him 24 years later, partly with a loan from him.
• He reportedly had under $300M in cash when he agreed to pay $2.2B.
• He first approached Caesars about a merger in 2018.