Your daily dose of Austin
Smartphone image
×
Make your inbox more Austin.
Local news and fun, every day 6am.
Who are the Austin billionaires? The new list is out.

Michael Dell remains at the top of the list of local billionaires. (Hartmann Studios)

Forbes has released its annual list of the world's billionaires, and eight Austin-area billionaires have made the cut. The wealth used for the list reflects net worth as of March 18.

Michael Dell remains the richest man in town, with a Forbes-list net worth of $22.9 billion. His wealth is down from $32.3 in September of last year. He is ranked as the 33rd richest person in the world.


Robert Smith, co-founder, chairman and CEO of the private equity and venture capital firm Vista Equity Partners ranked 330th with $5 billion, while co-founder and Vista president Brian Sheth came in at rank 945 with $2.2 billion.

Bert "Tito" Beveridge, who founded Tito's Handmade Vodka, is at No. 616 with $3.7 billion. Fellow spirits maker John Paul DeJoria, who founded Patrón Spirits Co. and co-founded the hair care company John Paul Mitchell Systems, is No. 648 with $3.1 billion.

Thai Lee, co-founder and CEO of the IT provider SHI International is at No. 680 with $3 billion. Joe Liemandt, the founder of ESW Capital, an investment firm that buys software companies, shares that position.

David Booth, co-founder and executive chairman of Dimensional Fund Advisors, is ranked 1,513 in the world, with $1.6 billion.

The coronavirus pandemic and the ensuing market shifts have led to a drop in many fortunes. Forbes says it counted 2,095 billionaires, 226 fewer than this time last year. It also says that 51% of the billionaires who remain on the list have less wealth than last year.

The markets are volatile at the moment, and as of the close of the market yesterday, the Forbes website reports Michael Dell's net worth to be $27.2 billion, a considerable jump from the $22.9 on March 18.


Popular

A mortgage banker walks us through the math on purchasing a 'typical' Austin home
Shutterstock

So you want to buy a house?

To anyone trying to get on the "housing ladder," it's been a discouraging couple of years as prices skyrocketed in a market crowded with buyers bidding against each other for just about any available home.

Things may be calming down, with the Austin Board of REALTORS reporting fewer sales and more available homes this summer, but prices here are still moving up. ABoR's latest numbers peg the City of Austin median home price at $633,000 in July, the most recent month of data available.

Mortgage rates have more than doubled in the last year, from around 3% to well over 6% on a 30-year fixed rate loan, getting even more of a bump this week after the Federal Reserve raised bank rates on Wednesday.

So how affordable are homes right now? That, of course, depends on what you want and how much you're able or willing to pay, but here are some rough estimates of what a typical buyer would pay to buy a $650,000 home, which is roughly the "average" Austin home right now.

Mortgage banker Chris Holland (NMLS 211033) of Austin's Sente Mortgage ran some numbers for Austonia to illustrate a typical purchase.

Keep ReadingShow less
Fall camping: Camp Fimfo Waco offers one-of-a-kind experiences in the heart of Texas
Camp Fimfo Waco

Camp Fimfo Waco, a brand new camping resort, is kicking off football and fall camping season in style! With top-notch amenities, premium accommodations, and 10 weekends of fall fun, there’s no better place to have a fall camping getaway, especially if you’re a Baylor football fan!

Keep ReadingShow less