Daniel Ziff
Net Worth: $4.8 billion Source: William Bernard Ziff, Jr. A third of the Ziff Brothers Investments, we have Daniel Ziff up next. Inheriting his part of the Davis-Ziff fortune, he, like his brothers, invested in their own venture, turning their backs on their father and the family business. Whilst Ziff Brothers Investments was successful to start, the company dissolved.
However, some loose ends continued to prove lucrative, and maintain a steady stream of income for all three brothers! He and his brothers also helped founded Och-Ziff Capital Management with hedge fund mogul Daniel Och. Och’s firm gave them a 10% investment back, which was worth a small fortune. (Read: not small).
Donald Newhouse
Net Worth: $12 billion Source: Sam Newhouse Now, this wealth has flowed down from his father, Samuel Irving Newhouse Sr., who was an American broadcasting businessman and magazine and newspaper publisher. He was the founder of Advance Publications in 1922, at 27 years of age. The eldest of eight children born to Jewish immigrants, Sam Meier Neuhaus Americanised his name to Meyer Newhouse! Donald is the heir to the publishing fortune built by his father, which he shares with his brother Samuel Irving Newhouse Jr. He went into the family business, and now owns the controlling stake. It owns famous titles including magazines such as The New Yorker, Vanity Fair, and Vogue. Now that’s an impressive list of holdings.
Aside from magazines, Advance owns papers in American cities, such as The Oregonian, Plain-Dealer, and Star-Ledger. Advance has stakes in Discovery Communications and Bright House Networks, both of which are cable companies. So by diversifying their holdings, Advance has managed to continue with the steady income! According to Forbes, Newhouse has an estimated net worth of $11.8 billion!! Not much is known as to his current situation or what he’s up to, but our guess is that thee 90-year-old is enjoying watching his kids and grandkids grow up!
Randa Williams
Net Worth: $5.6 billion Source: Dan L. Duncan We really only need to write two words here without explaining the whole life story of Randa Williams. Texas. Oil. Ok done, can we go home now? Jokes aside, Randa Williams is the daughter of Dan Duncan, who was the co-founder, chairman and main shareholder of Enterprise Products. In 1957, Duncan worked for Wanda Petroleum, and with $10,000 and two propane delivery trucks, he went on his way to found Enterprise Products Co. He took it public in 1998, and at a peak was worth $9.0 billion. Amazing huh?
Enterprise Products Co. has oil and gas pipelines that span the entire nation. They help America go. The business has remained family-owned, with Randa and her siblings receiving the benefits of the company’s success. Williams, however, was successful in her own right and was a practicing lawyer before becoming the CEO of Enterprise! Upon her father’s death in 2010, Williams inherited $3.1 billion. She made headlines with her siblings when they became the first American billionaires to avoid estate tax (and still aren’t paying tax since the estate tax law’s enactment!). Dang. Williams does have a few philanthropic pursuits, as a board member of Houston Zoo, and a trustee of the Houston Natural Science Museum. Nice!
Herbert Fisk Johnson III
Net Worth: $4 billion Source: SC Johnson Ah, Fisk. That’s his preferred name we’ll have you know! Heir to the S.C. Johnson & Son fortune, next up is Herbert Fisk Johnson III. The son of the late Samuel Curtis Johnson Jr, he and his three siblings and mother each have a net worth of $3 billion as of May 2015. Wowza. The Wisconsin-born Fisk has quite the brain additional to being filthy rich – he’s got a BA in Chemistry and Physics, a Master of Engineering, an MBA in Marketing and Finance AND a Ph.D. in Physics. All from Cornell University. If anyone can afford all those tuition fees well, it’s gonna be him!
S.C. Johnson is a cleaning goods company that specializes in pretty much anything and everything you would ever imagine you would need to take care of your home. Joining the family business in 1987, he moved up the ranks and was appointed CEO in 2004. As well as his business experience, he’s also done some time in politics (well, policy!). He’s served as a member of the President’s Advisory Committee for Trade Policy and Negotiation and the World Business Council for Sustainable Development among others! His work has been to ensure sustainable development and conservation, as well as to increase ethical trade practices for multi-national corporations. Smart guy, smart outlook, deep pockets.
Robert Ziff
Net Worth: $4.8 billion Source: William Bernard Ziff, Jr. One-third of the Ziff brothers, Robert Ziff is next up. He, like his brothers, took his five percent of the Ziff-Davis publishing empire and invested it separately. Whether that was the best move will never be known, despite the fact that the initial financial management firm ended up being dissolved! Maybe the brothers should’ve stuck with the family business! The Ziff Brothers Investments used their inheritance in assets and holdings to manage hedge funds as well as to invest in real estate and commodities. But despite their efforts, it worked out better for them to close up shop and go their separate ways.
Despite the bump in the road, Ziff continued to invest his father’s hard-earned wealth, and he was backed by a serious education. Did you know that Robert Ziff graduated magna cum laude from Harvard University in electrical and computer engineering, and then went on to finish Cornell Law School as the first in his class? Smart cookie! Ziff made headlines later on when he began openly donating millions to Republican politicians who support LGBTQ marriage, which was a break from the party’s more traditionalist platform. His brothers supported him in this venture, though it was of course, controversial and questioned by the media! #loveislove?