- Richest Business › Richest Billionaires
- Net Worth:
- $7 Billion
- Date of Birth:
- 1970 (53 years old)
Milane Frantz Net Worth: Milane Frantz is an American heiress who has a net worth of $7 billion. Born in 1970, Milane Frantz is one of the four children of Dan Duncan, once recognized as the richest man in Houston and the third richest man in Texas. Together with her siblings, Dannine Avara, Randa Williams and Scott Duncan, Milane Frantz inherited an enormous fortune from their late father, founder of Enterprise Products. Last year, each of their fortune increased when the company's shares elevated by almost 24%. Today, the company is an energy pipeline empire with over 50,000 miles of natural oil, gas and petrochemical pipelines, what makes it one of the most successful pipeline companies. Moreover, Frantz is a member of the board of Hermann Park Conservancy in Houston and the Baylor College of Medicine Board of Trustees.
Milane Frantz 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.