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Tilman Fertitta
American businessman (born 1957) From Wikipedia, the free encyclopedia
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Tilman Joseph Fertitta (born June 25, 1957) is an American businessman and television personality. He has served as the United States ambassador to Italy and San Marino since May 2025. He is owner of Landry's, Inc.[3][4] He also owns the National Basketball Association (NBA)'s Houston Rockets.[5][6] Fertitta has been the chairman of the board of regents of the University of Houston System since 2009.[7]
As of May 2025, his net worth was estimated at $10.7 billion. He is placed at No. 248 on the Forbes 400 list.[8] Forbes calls him the "World's Richest Restaurateur."[9]
Fertitta became the star of Billion Dollar Buyer on CNBC. On September 5, 2017, Fertitta reached an agreement to buy the Houston Rockets for $2.2 billion.[10][11][12]
As of April 2025, Fertitta is the lead shareholder in Wynn Resorts.[13]
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Early life and education
Tilman Joseph Fertitta was born in Galveston, Texas,[14] on June 25, 1957.[15] He is of Sicilian descent.[16] His father, Vic, owned a seafood restaurant on Galveston Island, and after school, Tilman would peel shrimp in his father's restaurant.[17]
Fertitta attended Texas Tech University and the University of Houston, studying business administration and hospitality management but never graduated.[18] His first entrepreneurial experience involved selling and promoting Shaklee vitamins.[19]
In the 1980s, Feritta bought Landry's from brothers Bill and Floyd Landry after being introduced by his cousin. The Landry brothers were from Lafayette and started the restaurant in the 1970s.
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Career
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In the 1980s, Fertitta founded and ran a construction and development business, and developed his first major project, the Key Largo Hotel in Galveston.[20][21]
Landry's, Inc.
Fertitta was a partner in the first Landry's Restaurant, Landry's Seafood, which opened its doors in the Houston suburb of Katy, Texas, in 1980.[22] A year later, he helped open Willie G's Seafood & Steaks, a more upscale restaurant in Uptown Houston.[23]
In 1986, Fertitta gained controlling interests of both locations, and in 1988, became sole owner of Landry's Restaurants. In 1993, he took Landry's, Inc. public and the company grew quickly, adding concept after concept.[24]
In 1993, Landry's was valued at approximately $30 million.[25]
In 2004, Fertitta was elected to the Texas Business Hall of Fame, becoming the second-youngest Texan to ever earn that distinction, behind only Michael Dell.[26][27]
In 2010, Fertitta, who already owned the majority of Landry's, Inc. stock, purchased all outstanding shares, becoming sole owner again. By 2011, the company's value had skyrocketed to a value of more than $1.7 billion.[28]
His portfolio includes: The Golden Nugget Hotel and Casinos; Morton's The Steakhouse; Rainforest Cafe; Bubba Gump Shrimp Co.; McCormick & Schmick's Seafood & Steaks; Saltgrass Steak House; Claim Jumper; Chart House; The Oceanaire; Mastro's Restaurants; Grotto Restaurants, The Boathouse Restaurants[29] and Vic & Anthony's Steakhouse.[30][31] In 2017 he acquired half of EMM group, owner of the Catch Restaurants.[32] He is the owner of the holding company Fertitta Entertainment.[33]
Hotels
Fertitta first built the Key Largo Hotel in Galveston, Texas and then sold it in order to buy the rights to Landry's.[34] After acquiring restaurants under the company, Fertitta started focusing more on the hospitality division of Landry's and acquired the San Luis Resort, Spa, & Conference Center in Galveston, Texas. He also partnered with the City of Galveston to build the conference center in 2004 inside the resort. Fertitta since acquired two additional hotels on the island, including the Holiday Inn On the Beach in 2003, and the Hilton Galveston Island Resort in 2004, which stands adjacent to his San Luis Resort. In 2015, Fertitta added the Villas at San Luis section of the hotel, which consists of ultra-luxury villas with direct access to both the beach and the hotel's pool.[35][36] In June 2022, he was recognized by the International Hospitality Institute on the Global 100 in Hospitality, on a list featuring the 100 Most Powerful People in Global Hospitality.[37] In 2018, Fertitta opened The Post Oak Hotel at Uptown Houston, introducing a new level of luxury to Houston. The Post Oak Hotel quickly became the city's only Forbes Five-Star Hotel and Spa.[38] In 2022 Fertitta acquired The Montage Laguna Beach for approximately $650 million.[39]
Casinos
Landry's first expanded to casinos in 2005 when it bought Golden Nugget Casinos, including locations in Las Vegas and Laughlin, Nevada.[40] Since then, Landry's has opened casinos in Atlantic City, New Jersey; Biloxi, Mississippi; and Lake Charles, Louisiana. The Golden Nugget Atlantic City was previously called the Trump Marina. Fertitta purchased this casino from Trump Entertainment Resorts in 2011.[41]
The Golden Nugget Lake Charles was bought after Fertitta found a license and resort land for sale from Pinnacle Entertainment, which owns the adjacent L'Auberge du Lac Resort. Fertitta stated he built the casino with the idea of having a casino in close proximity to his Houston hometown. After the first year proved the casino was successful, a new 300 room tower began construction on the property.[42]
In November 2024, Fertitta became the largest stockholder at the prominent Las Vegas Wynn Resorts after acquiring 9.9% of the company.[43] In April 2025, Fertitta managed to increase his stake at Wynn Resorts after acquiring 12.3% of the company.[44][45][13]
Entertainment
In addition to restaurants, hotels, and casinos, Landry's also owns amusement parks, aquariums, and the Kemah Boardwalk. Landry's, Inc. first acquired the Kemah Boardwalk in 1999. After acquiring the boardwalk, Fertitta added a few Landry's restaurants, and a few rides. In 2007, he added the Boardwalk Bullet which is a high speed wooden roller coaster. He also added the Boardwalk FantaSea,[46] which is a luxury yacht cruise service where guests ride along the Galveston Bay.
The marina on the boardwalk has a large concentration of boats and yachts in the Greater Houston area. The boardwalk also includes an aquarium, which is under the same Landry's line of aquarium restaurants with locations in Houston, Denver, and Nashville. Travel + Leisure magazine named the Kemah boardwalk a top 10 American boardwalk.[47][48][49]
In 2000, Landry's acquired the land on the 400 block of Bagby in Downtown Houston. The deal came from a proposal of the City of Houston to redevelop the fire station. After redeveloping the building, the aquarium added the shark tank and restaurant before opening in 2003.[citation needed]
Fertitta redeveloped the pleasure pier in Galveston, Texas, after the pier had closed after damages by Hurricane Ike. The pier reopened in 2012 as the Galveston Island Historic Pleasure Pier. The redeveloped pier includes an amusement park, Bubba Gump Shrimp Company restaurant, as well as shops.[50]
Sports
Texans
During the process of building the Houston Texans as an NFL team, Fertitta was one of the original investors in creating the franchise. He was a partner of Texans owner Bob McNair until 2008 when he had to sell his interest in the franchise because he owns the Golden Nugget casino chain (a Landry's subsidiary) and NFL rules state any staff member of a team cannot be associated with gambling. Both Fertitta and McNair were disappointed, as Fertitta was part of the franchise since its establishment.[51]
Astros
In 2003, Fertitta bought the naming rights to the Crawford Boxes seating section of Daikin Park, calling it "Landry's Crawford Boxes". The term has become a commercial moniker during radio and television broadcasts. A Landry's sign is placed above the section, along with many of the company's subsidiaries. Traditionally, when a fan catches a home run, they are awarded a gift certificate to one of Landry's restaurants. Landry's promoters often visit the section and give away items such as T-shirts.[52]
Rockets
On September 4, 2017, he agreed to purchase the Rockets from Leslie Alexander, pending league approval, for an NBA record $2.2 billion.[53] On October 6, 2017, Fertitta was approved by the NBA to own the Houston Rockets.[6] Fertitta paid for the Rockets by selling $1.415 billion worth of bonds and was competing with Houston-native singer Beyonce Knowles to purchase the team.[54] By buying the Houston Rockets he also became the owner of Clutch Gaming, a professional eSports organization focused on League of Legends.[55]
NHL
After Fertitta bought the Rockets and Toyota Center in 2017, he expressed interest in an expansion team or relocating an NHL team to Houston, with both options most likely playing at Toyota Center. In 2018, he held preliminary talks with commissioner Gary Bettman to discuss ownership of a team. It was speculated he was working on a deal to purchase the Arizona Coyotes prior to their deactivation in 2024. Fertitta has continually stated his interest in owning a hockey team and believes that one would boost the economy of downtown Houston. In September 2024, it was reported by Andy Strickland that for the upcoming board of governors meeting regarding expansion, Houston was one of the leading candidates for expansion, with Fertitta's bid being the frontrunner for the city.[56][57][58]
WNBA
In 2024, Fertitta expressed interest in bringing back a WNBA franchise to Houston, which would be their second team since the Houston Comets folded in 2008.[59]
Sheffield Wednesday
As of 11 July 2025, Fertitta has been a named party reportedly working to acquire ownership of English EFL Championship team Sheffield Wednesday[60]from Thai businessman Dejphon Chansiri who has become deeply unpopular with the club's fans.[61][62] The professional soccer outfit, a storied and historic club with one of the 20 largest stadia in English soccer, are competing in the second tier of English 'football'. They have been experiencing extreme financial distress throughout 2025 - and across several recent seasons.[63] Members of the team's roster have repeatedly gone unpaid since May 2025, alongside regular workers who run the business on a day to day basis. These issues have attracted numerous official sanctions from the sport's governing bodies, including a transfer embargo until at least spring 2027,[64] and a restrictive cap on the salaries of any free agents who sign for the club. These punishments are believed to be set in place regardless of any change in ownership. Several interested parties have been connected to the club by media outlets regarding a potential buyout in recent months, including a Florida based consortium, former shareholder of Crystal Palace Football Club John Texor, and others. There have been acrimonious statements back and forth between potential buyers, representatives, and the current owner in the British media (particularly over the club's valuation by Chansiri), and claimed behaviours by interested parties as alleged by the owner himself in official club statements.[65] As a result of these tense and public fallings out, third party intermediaries said to be familiar with the process of buying and selling sports teams, have been appointed by the club and its owner. Fertitta is believed by a number of established and respected English sports journalists to be the only interested party to have had a bid for the club accepted by its owners, and to have entered advanced negotiations. It remains to be seen if these enter end stages and if Fertitta extends his sporting interests into the overseas arena - and if he joins the growing number of American sporting team owners who have extended their reach into European club football. [66] [67]
Investments
Fertitta partnered with Richard Handler and announced a special-purpose acquisition company called Landcadia, a portmanteau of Fertitta's Landry's and Handler's Leucadia. The company plans to raise as much as $300 million in initial public offering.[68]
On May 16, 2018, Fertitta announced that Landcadia would acquire Waitr.[69]
On March 1, 2024, it was reported that Fertitta had purchased the River Oaks District, one of Houston's most prominent mixed-use developments, for $450 million.[70]
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Politics and Government service
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On October 4, 2019, the Houston Rockets general manager Daryl Morey issued a tweet that supported the 2019–20 Hong Kong protests which drew criticism from Fertitta who said that while Morey was the best general manager in the NBA, the Rockets were not a political organization.[71][72][73] Morey later deleted the tweet.[72][74]
In April 2020, Governor Greg Abbott named Fertitta to the Strike Force to Open Texas – a group "tasked with finding safe and effective ways to slowly reopen the state" during the COVID-19 pandemic.[75]
Fertitta is known to support political leaders in both the Republican and Democratic parties. In particular, Fertitta has been a supporter of both Bill Clinton and the Bush family.[76][77] Together with his spouse, Fertitta contributed $140,000 to Donald Trump's 2020 presidential campaign and $5,600 to Joe Biden's 2020 presidential campaign.[78] He also funded the reelection campaign for many state Republicans in 2022, notably donating over $1.1 million to Greg Abbott.[79]
Mark Kelly, a Democrat and current United States Senator from Arizona, is considered to be a very close friend of Fertitta.[80]
U.S. ambassador to Italy and San Marino
On December 21, 2024, President-elect Donald Trump announced the nomination of Fertitta to serve as the United States ambassador to Italy and San Marino.[81] The United States Senate confirmed Fertitta's nomination on April 29, 2025 in a 83–14 vote.[82] He presented his credentials to Italian President Sergio Mattarella on May 6, 2025.[83]
Media
Television
On January 12, 2016, it was announced that Fertitta would star in his own reality TV show titled Billion Dollar Buyer on CNBC.[84] Billion Dollar Buyer premiered on March 22, 2016, at 10 P.M. Eastern Time. After the first season was successful, a second season was announced, featuring more episodes.[85]
Books
On September 17, 2019, Fertitta released a book, Shut Up and Listen! Hard Business Truths That Will Help You Succeed, in which he details his journey to success and offers advice to other entrepreneurs on their business ventures. Each chapter contains "Tilmanisms" which focus on 6 important rules for any entrepreneur to follow: "(1) Be the Bull, (2) No Spare Customers, (3) Change, change, change, (4) Know Your Numbers, (5) Follow the 95/5 Rule, and (6) Take No Out of Your Vocabulary".[86][87]
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Personal life
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In 1991 Fertitta married Paige Farwell with whom he has four children,[88] a daughter and three sons.[89] Fertitta is now married to Houston attorney Lauren Ware.[90]
He is second-cousin to former UFC owners Lorenzo and Frank Fertitta.[2] An avid sports fan, Fertitta is a vocal supporter of the University of Houston Cougars and can be seen at most Cougar football and men's basketball games as well as court side for Houston Rockets basketball games. In 2016, Fertitta donated $20 million to rebuild the University of Houston's basketball home of Hofheinz Pavilion, since renamed Fertitta Center, along with donations for the construction of TDECU Stadium.[91]
Fertitta is a close friend of retired NASA astronaut and Arizona senator Mark Kelly, and his wife, former Arizona congresswoman Gabby Giffords.[92]
Fertitta is chairman of the board of the Houston Children's Charity.[93] In 2009, Texas Governor Rick Perry appointed Fertitta to the board of regents of the University of Houston System.[94] In 2008, Fertitta was named chairperson of the Houston Police Department's Police Foundation, supplying gear and equipment for Houston Police Officers.[95][96][97][98] He is on the executive committee for the Houston Livestock Show and Rodeo.[99][100] He is a board member of the Texas Heart Institute, the Museum of Fine Arts, Houston, and the Greater Houston Partnership.[101][102]
In May 2022, The University of Houston College of Medicine received a $50 million pledge from Fertitta and the school was renamed the Tilman J. Fertitta Family College of Medicine.[103]
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References
External links
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