Scott Duncan Net WorthReal Name: Scott Duncan
Date of Birth: 1/1/1983
Place of Birth: Houston, Texas
2017 Net Worth: $5.7 Billion
Profession: CEO of Enterprise Products Partners (oil pipelines)
Scott Duncan Biography
Scott Duncan, born in 1983 in Houston, Texas, is the only son of Dan Duncan, the co-founder of Enterprise Products Partners, an oil pipeline and natural gas storage company. Duncan has three sisters, Dannine Avara, Randa Williams, and Milane Frantz, who all received a huge lump sum inheritance, tax free, when their father passed away unexpectedly in 2010 from a cerebral hemorrhage. Lawmakers failed to renew a law in 2010, which required persons to pay an estate tax. Because of this short term lapse in the law, Duncan and his sisters were able to walk away with every penny of their multi-billion dollar inheritance, tax free.
After his father’s death, Duncan took control as part of the family’s more than $12 billion pipeline empire. As of 2012, the family business share prices rose by an incredible 24 percent, which earned Duncan and his sisters another $1 billion each to their already impressive net worth. Duncan’s sister Randa is the non-executive Chairman of the board, while the other two sisters have no involvement in the day to day operations of the company.
Duncan is one of the youngest billionaires on earth and one of the most eligible bachelors in the world, in charge of Enterprise Products Partners, which has almost 50,000 miles of both onshore and offshore pipelines and nearly 220 million barrels of natural gas and natural gas liquids of storage capacity. Duncan is also the head of mid-stream energy firms Duncan Energy partners and Enterprise GP Holdings.
Duncan’s current net worth is $5.7 billion, which makes him one of the youngest billionaires in the world and the 77th richest person in the world. Although oil prices might fall, they still need to be stored and transported, which means Duncan’s worth is sure to increase in the future, regardless of the actual price of a barrel of oil.