- Category:
- Richest Business › Richest Billionaires
- Net Worth:
- $7.2 Billion
- Birthdate:
- 1974 (50 years old)
What is Dannine Avara's Net Worth?
Dannine Avara is a billionaire heir to the Duncan family fortune who has a net worth of $7.2 billion. Born Dannine Duncan in 1974, she is the daughter of Lee Ellis and Dan Duncan who co-founded Enterprise Products Partners LP, a natural gas and crude oil pipeline company with headquarters in Houston, Texas. It went public in 1998, and by 2010, it included over 48,700 miles of onshore and offshore pipelines, as well as nearly 220 million barrel equivalents of natural gas and natural gas liquids of storage capacity. Also a head of mid-stream energy firms Duncan Energy Partners LP and Enterprise GP Holdings LP, Dan Duncan left his wealth to his four children upon his death on March 28, 2010. Dannine Avara inherited $3.1B and due to a temporary loophole in the estate tax law in 2010 she became the first American billionaire to pay no estate tax since its enactment. Avara, who resides in Houston with her husband, still ranks well on the America's richest list.
Danine Avara wealth details: When her father died in 2010, the family's massive fortune was divided between the four siblings; Dannine Avara, Randa Williams, Milane Frantz and Scott Duncan. Each child earned a stake that was worth $3 billion in 2010. Today each stake has more than doubled in value. In 2018 the company was ranked by Fortune as one of the 100 largest companies in America in terms of gross revenue. As of this writing the company has a market cap of $64 billion and generates more than $50 billion in revenue per year. Since 1998 the Duncan family have collected more than $8 billion worth of cash distributions from Enterprise. The members of the Duncan family own 700 million shares of Enterprise. Each child personally owns 8% of the company, around 175 million shares. That means when EPD pays its $0.43 quarterly dividend, each child earns $75.2 million. That's $300 million per year.
