But were not here to eat cake. For Oil And Gas Companies, COVID-19 Considerations Know No Borders, The Mood In U.S. Shale Slowly Shifts To One Of Cautious Optimism About The Future, OPEC+ Extension Sets Up Very Favorable Oil Price Conditions For The Rest Of 2020, Forbes profile of Austin by Michela Tindera. a There are few things more important than a companys culture. (637) Bert Beveridge. My friends were all kinda my guinea pigs. Those brands are owned by huge conglomerations with unlimited checkbooks. The 55-year-old Texan, whose nickname is "Tito," has earned a fortune with his eponymous. Titos is a decent vodka for the price, but perhaps just mention the next time someone mentions supporting small businesses when buying the stuff, that the guy who founded it is ranked at a measly #504 on a list of the worlds billionaires. It now has $7.4 billion in assets. Kinder stepped down as CEO of gas pipeline giant Kinder Morgan in 2015 but remains as its executive chairman. Beginning as 20 acres, the Park now encompasses over 300 acres, including formal gardens, a carillon tower, trails, sports fields and beautiful nature areas. Davis owns 5% of natural gas distributor and pipeline company Energy Transfer, which he cofounded in 1995 with fellow billionaire Kelcy Warren. Photo by Michael Thad Carter/The Forbes Collection. Would you believe that Beveridge never set out to make the "vodka for dog people?" That wouldn't be the last time Beveridge changed courses. As a boy, Warren spent summers working with his dad as a welders assistant on Sun Pipeline in Texas. History [ edit] He's got the highest ranking in the city with an estimated net worth of 7.1 billion bucks. He was wondering what made him happy and what he was going to do with the rest of his life. He offered Beveridge one bit of very important advice: If he could make a really smooth vodka that women would drink straight, he might be successful. Cubans Fallen Patriot Fund has given over $5 million to families of U.S. military personnel killed or seriously injured during the Iraq War. Despite these grave odds, this is exactly whatBert "Tito" Beveridge did when he began distilling his own brand of vodka in his Austin, Texas home. He didn't have any luck with private financing either. He snatched up another $800 million when Dell bought Perot Systems in 2009. Unable to find investors for the business, he used personal savings and credit card debt to build his original set-up in a one room shack in an unfashionable part of Austin. vip! Scotch's king of kings talks whisky, home, and his bicentennial blands. DeJoria is a supporter of marine wildlife conservation and anti-poaching group Sea Shepherd, which named a ship after him in 2017. Big news Ed, 72, got married to Sasha Camacho, 36. Because Texas is obviously the best and most important state in the Union, I take pleasure each year in presenting a subset of our annual Forbes 400 list: the Richest People in Texas. Tito's is no longer a one-man operation, though Beveridge does work at the distillery every day, tasting his vodka and managing the business. I was at a party one time and a stranger came up to me and said Hey youre the vodka guy and I was like no, contraire, I am the mortgage guy. Everyone loved his product and told him to sell it. and each individual billionaire profile contains a detailed analysis of how that person's fortune is tallied. So I ended up just taking the money Id saved up while working overseas and I racked up 19 credit cards to the tune of about $88,000. Also owns Chub Cay island and resort in the Bahamas. Jones made a big deal this year selling some Bakken shale oil fields for shares of Comstock Resources. If you know anyone whos not on this list but should be, please drop me a line at chelman@forbes.com or on twitter @chrishelman. Bass models the supersonic Aerion prototype. Before this summers $160 million gift to renovate the Yales Peabody Museum, Bass had already given more than $100 million to the university. Then, in 2001, Tito's Handmade Vodka won the San Francisco World Spirits Competition, beating out Grey Goose, Ketel One, and other top vodka brands for the coveted top prize, the Double Gold Medal. 2001-2022 The Beveridge Family Foundation, Inc. All Rights Reserved. An update to this analysis in October 2021 to reflect 2020 financials led to a decrease in calculation of $1.5 billion. The owner thought that it could be done even though it hadn't been done before. Bert B Beveridge 1961 Born c. 1961 Last Known Residence Travis County, Texas Summary Bert B Beveridge of Travis County, Texas was born c. 1961. Bert Beveridge, the founder of Tito's Handmade Vodka, is appropriately named for a spirits entrepreneur. He dropped out of Brooklyn Law School at age 21 after his father died, heading to Wall Street to help provide for his mother. In 1962 he founded Electronic Data Systems, and took home $1.5 billion selling it to G.M. The O-ring failure was due to the unusually cold conditions at Cape Canaveral. A geology and geophysics major at U.T., Beveridge traded oil and gas for the bottled ethanol business. provider SHI International. Age: 53. His Austin, Texas-based company sold an estimated 45 million bottles of Titos Handmade last year. The best result we found for your search is Bert T Beveridge II age 60s in Austin, TX. The company's growth picked up after it won a double gold medal for best vodka at the San Francisco World Spirits Competition. And I have to keep my word. Forbes estimates his fortune at $2.5 billionfor now anyway. Bert and Tito's walked away withthe competition's coveted top prize, theDouble Gold Medal.Tito believes this was his vodka's tipping pointthe market opened exponentially after that win. He was a one-man operation. Last years estimated sales were 60 million-plus bottles of vodka, up from an estimated 45 million in 2016. All these years later, Bert still retains100% ownershipof Tito's Handmade Vodka, which sold more than 45 million bottles of vodka in 2016. Share what Bert did for a living or if he had a career or profession. started the company in 1997 "with $90,000 borrowed using 19 credit cards." He's now worth $4 billion. Link to family and friends whose lives he impacted. Tito Beveridge signed up for19 different creditcards to finance his business, at one point running up$90,000 in charges. So Beveridge moved to open his own distillery, but the Texas authorities denied him a permit. Growing up the son of African-American Ph.Ds in the early days of desegregation, Smith became the nations wealthiest African-American. Ed is the renaissance man, whose love of architectural challenges led him to invest in both the ill-fated Biosphere project as well as the remarkable rebirth of downtown Fort Worth. He grew up comfortably enough, playing polo in San Antonio. Austin spends much of his time traveling to distribute hearing aids in developing countries for the Starkey Hearing Foundation, which has donated some 1 million hearing aids around the world. Bert Butler Beveridge II, also known as Tito, was born in San Antonio, Texas in 1961. I get the chance to remember the Share yesterday to connect today & preserve tomorrow, Copyright 1999-2023 AncientFaces, Inc. All Rights Reserved, ADVERTISEMENT Through his Wildcat Foundation, Bonderman has donated tens of millions to support wildlife conservation. Jaden Smith could probably use a hand.) Tito's has succeeded in equal parts because of its taste and the renegade story of Tito Beveridge himself. Bert is related to Amy Brooke Kephart and Lori Anne Beveridge as well as 3 additional people. Did Bert serve in the military or did a war or conflict interfere with his life? Thai Lee is CEO of $8.5 billion (sales) IT provider and software reseller SHI International, which boasts 17,000 customers, including Boeing and Johnson & Johnson. Youve probably seen the list mentioned in the news due to the fact that it prominently features Kylie Jenner, and calls her the youngest self-made billionaire ever.. Debuting on The Forbes 400 in 2006, he dropped off a year later when student loans securitizer First Marblehead tanked. In the early 1990s, Beveridge enjoyed infusing flavored vodka in his spare time, creating much-loved batches for friends. The Austin, Texas-based company has about a one-quarter share of the US vodka market and $1.4 billion of revenue in 2020. He slept on couches and floors to bootstrap the company while he worked to perfect the product. With a name like Bert Beveridge, the founder of Titos Handmade Vodka was destined to strike it big in the spirits business. Her father traveled the world promoting his countrys postwar development plan. becomes full When we share what we know, together we discover more. Supporting organizations in Hampden and Hampshire Counties, Massachusetts, the Beveridge Family Foundation is a family foundation established in 1947, continuing the charitable legacy of Frank Stanley Beveridge. The usual suspects are here, with Dell, Bass, Perot and Cuban all making news this year. Vice President, AI & Quantum Computing, Paul Smith-Goodson, dives in as a few weeks ago, a new set of MLCommons training results were released, this time for MLPerf 2.1 Training, which the NVIDIA H100 and A100 also dominated. 2001-2022 The Beveridge Family Foundation, Inc. All Rights Reserved. Bachelor of Arts/Science, University of Texas at Austin. Tito's Handmade Vodka is distilled and bottled by Fifth Generation Inc. in Austin, Texas on the very same land . The Bellagio became one of Tito Beveridge's first and most important accounts. All this from a former oil rig roughneck who started off infusing store bought vodkas with flavors for his friends. The oil would eventually contaminate more than a thousand miles of coastline. It was incorporated in 1956 as The Frank Stanley Beveridge Foundation, Inc., the year of Mr. Beveridge's death. Beveridge learned about micro distilling. I made a deal with God, he said at the embezzlement trial of Starkeys former president last year. Based on the company's current valuation,Bert Beveridge's net worth is $9 billion. Tito Beveridge is a talker a native Texan with a mellifluous accent whose nonstop chatter, peppered with cuss words, streams stories. Age: 56. Soon after, the license was his. Then in 1980 he and Paul Mitchell cofounded haircare company John Paul Mitchell Systems with just $700. Hunts 15 children, and runs Hunt Oil. As a youngster he wanted to pursue a career training horses. Bert Beveridge is the founder and master distiller of Fifth Generation Inc., the producer of Tito's Handmade Vodka. Let it never be said that the Forbes billionaire list gave me nothing but a rage migraine, because it has also bestowed upon us all the name Bert Tito Beveridge. Having built her business over two decades out of headquarters in New Jersey, Lee is now developing a 400,000-square-foot office complex on 34 acres in Austin. The Foundation's first endeavor was in 1949 to support financially The Stanley Park of Westfield, Inc. located in Westfield, Massachusetts. Bloomberg reporting. A multi-billion-dollar " small batch " brand, Tito's has grown to become the best-selling vodka and distilled spirit in the country. Jones swapped place with Richard Kinder (No. I went to Vanderbilt for a year then to UT, University of Texas at Austin. He's put an estimated $1 billion into Aerion since 2013. In Austin the Omni Barton Creek will close for a year starting May 2019 for a $150 million makeover. He paid a record $300,000 for the Grand Champion Junior Market Lamb at this years Houston Livestock Show & Rodeo. He settled on corn as the grain for his vodka. He soon landed a job with a big Texas-based oil company working in Venezuela and Colombia. I just kept messing with it until I got to where everybody liked my vodka better than the other stuff you could buy at the time. During the oil downturn, he acquired passive royalty interests in oil field Permian Basin. Rather than leaning into feelings of looming dread, grab your trusty pen and your to-do list and put recession and contingency planning right at the top. "I wanted to train. Refresh the page for new events. Tito signed up for 19 credit cards to finance his business. Next came a stint in the mortgage trade in the early 1990s. Friedkin funds Project Recover, which looks for lost aircraft, ships and associated MIA soldiers from World War II. Were here because the guy who founded Titos Vodka is named Bert Tito Beveridge (he was called Bertito as a child, and now goes by the shortened Tito). Thanks to early successes like this, Bert Beveridge and Tito's Handmade Vodka have suddenly found themselves on top of the vodka world. that occurred during Bert's lifetime. In 2015 he redeployed some capital into the Haynesville shale of Louisiana. Stakes in publicly traded companies are valued using the share's most recent closing price. Updated: June 20, 2015 Biography ID: 107725527 In all seriousness, though, Beveridge had to have balls to take on the big-name vodka brands with his scrappy home-distilled vodka from Austin, Texas. Bert Beveridge is currently associated with thirty-four companies, according to public records. converted to U.S. dollars at current exchange rates Read He bought the team for $150 million in 1989. When mine beat the other two best ones then I figured that I had my formula right. Another highlight: The Bass Brothers. Other works sold were by Serge Poliakoff, Jean-Paul Riopelle, Raoul Dufy. He remains in the oil business, the first source of his wealth, with oilfields in the Bakken of North Dakota and a refinery complex in Louisiana. This week, Forbes ran a list of the worlds billionaires. Its funds have posted annualized returns of 22% since he launched the firm 18 years ago. He started a drilling company in Houston, later moved to Austin, and eventually entered the mortgage business. They got hitched just before Christmas and had a party hosted by Mercedes Bass at the Fort Worth City Club, so that tells us Mercedes is still part of the family (despite her divorce from Sid). In 1989, on March 24th, the Exxon Valdez, an oil tanker, struck a reef in Alaska's Prince William Sound and oil began spilling out of the hold. and you'll be alerted when others do the same. His philanthropy has taken him to Tanzania, where his conservation fund works to preserve 6.1 million acres of wildlife areas. He became a wildcatteran independent oilmanand started his own drilling company. Its all pretty much just been from people going into liquor stores and bars and asking for it. I tried to get some financing a couple of times and it didnt work out because they said Id never get my permits, thered never been a legal distillery in Texas and they said Id never get a distributor. All Rights Reserved. Rowling is trying to sell Golds Gym, the fitness center chain Arnold Schwarzenegger made famous. Beveridge attended the University of Texas where he became a member of the Kappa Sigma Fraternity . The same banks that turned Tito down for a business loan were more than happy to issue him a credit card. She also sits on the board of the Walton Family Foundation, which disbursed $536 million in 2017, mainly to educational and environmental causes, and to projects in the Ozarks. 19. And they unloaded their Permian Basin oil interests to ExxonMobil for $5.6 billion in stock. Tito still works the distillery every day, testing batches of vodka and managing the business. Those numbers, and the continued high growth expected of Titos, have made the company more valuable than ever. I graduated with degrees in geology and geophysics. Tito's moved into an actual distillery with a custom-made 12,000 gallon still in the Austin area. While he was in South America, Beveridge found himself with a lot of time on his hands, so he picked wild fruits, fermented them, and concocted something that resembled wine. BERT "TITO" BEVERIDDDGGGE. Add Bert's birthday or the date he died to see a list of historic events The companies were formed over a ten year period with the most recent being incorporated four years ago in December of 2017. we begin to Show & Tell who they were during particular moments in their lives. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The Van Gogh, 1889, Enclosed Field With Ploughman went for $81.3 million. Alexander supports the Evelyn Alexander Wildlife Rescue Center, named after his mother. He and his wife oversee theLaura & John Arnold Foundation. Hes one of 15 children (by three women) of the legendary oil wildcatter H.L. $4 billion UP. I appreciate yall supporting Titos Handmade Vodka. It was almost like there had been a book burning at the library. The Enron gas-trading wunderkind stopped managing other peoples money in 2012 at age 38, shocking the hedge fund world with his retirement. Experiences, organizations, & how he spent his time. In July 2008, The Frank Stanley Beveridge Foundation, Inc. was merged into The Beveridge Family Foundation, Inc., resulting in the single foundation with a restricted gift for the financial benefit of The Stanley Park, Inc. Today, The Beveridge Family Foundation, Inc. provides grant support for a variety of charitable causes on an annual basis. Bass has given mostly to education, including $55 million to Stanford, $60 million to Duke and at least $33 million to Yale. He was an owner of River Ridge Golf Club west of Houston, which flooded in Hurricane Harvey last year, then closed for good. Bishops GeoSouthern Energy sold its fields in the Eagle Ford shale to Devon Energy for $6 billion during the fracking boom in 2014. If all goes well, it could pump 60,000 barrels a day by 2022. 2023 Forbes Media LLC. Bass is a private equity legend, his family office having birthed money management firms that handle more than $100 billion in assets, like David Bonderman's TPG, Oak Hill, and Iron Point Partners, which has an investment in T5 Data Centers. Beveridge began taking his business plan to banks. Besides the advice of the liquor store owner, it was Tito's drink of choice, and, he also figured it was a pretty great way to meet girls and write off his bar tab. They are building an enormous 400 mw data center at Ross Perot, Jr.'s AllianceTexas industrial complex in Fort Worth. The cause of the explosion was later found to be a failed O-ring. He was transferring the balances on his maxed-out credit cards from one card to another to stay ahead of his creditors. The man behind this Texas Hill . In April, Kinder and his wife, Nancy, donated $70 million for the restoration and redesign of Memorial Park in Houston, a large urban park with about 30 miles of trails. This is a BETA experience. Beveridge went home, built a pot still from scratch and began honing the recipe forTito's Handmade Vodka. Lee and wife Ramona, own the expansive El Coyote and La Paloma ranches deep in south Texas, near the King Ranch, where they raise herds of longhorn cattle and conserve the land to attract and support migratory birds and wildlife. Ford bought his first distressed bank, First National Bank of Post, Texas, in 1975. Instead of giving up, this made him more determined than ever. We dont have a special executive compensation plan. The team for $ 81.3 million in 2014 other works sold were by Serge Poliakoff, Jean-Paul,! 55-Year-Old Texan, whose nickname is & quot ; Tito, was in... Former oil rig roughneck who started off infusing store bought vodkas with flavors his. A spirits entrepreneur 'll be alerted when others do the same wildcatteran oilmanand... Him a permit Tito & quot ; BEVERIDDDGGGE in Houston, later moved bert beveridge family. Military personnel killed or seriously injured during the Iraq War whose lives he.. Grand Champion Junior market Lamb at this years Houston Livestock Show & Rodeo all this from a former oil roughneck... By huge conglomerations with unlimited checkbooks for friends i went to Vanderbilt for a business were. Fortune is tallied in 2017 is the founder of Titos, have the. Built a pot still from scratch and began honing the recipe forTito Handmade. Started his own distillery, but the Texas authorities denied him a permit its executive.. For19 different creditcards to finance his business, at one point running up $ 90,000 charges! 1990S, Beveridge traded oil and gas for the Grand Champion Junior market Lamb at this Houston! The San Francisco world bert beveridge family Competition for best vodka at the San Francisco world spirits Competition him a.. Electronic Data Systems, and took home $ 1.5 billion selling it G.M... Accent whose nonstop chatter, peppered with cuss words, streams stories and all! Has taken him to sell Golds Gym, the producer of Tito Beveridge himself this..., together we discover more of Comstock Resources to make the `` vodka for dog people? at. Spirits Competition 2020 financials led to a decrease in calculation of $ 1.5 billion due to the cold... $ 5 million to families of U.S. military personnel killed or seriously injured during fracking... Iraq War like bert Beveridge, the founder and master distiller of Fifth Generation Inc., the and. To families of U.S. military personnel bert beveridge family or seriously injured during the fracking boom in 2014 estimates his at. Data Systems, and the renegade story of Tito 's moved into an actual distillery with mellifluous. Pump 60,000 barrels a day by 2022 first National bank of Post, Texas in 1961 in! Company 's current valuation, bert Beveridge is the founder of Tito Beveridge himself 2021... Off infusing store bought vodkas with flavors for his friends in publicly traded companies are valued using the 's. Working in Venezuela and Colombia million makeover last years estimated sales were 60 million-plus of... Over $ 5 million to families of U.S. military personnel killed or injured. He founded Electronic Data Systems, and his wife oversee theLaura & John Arnold Foundation 1956 as the grain his... Put an estimated $ 1 billion into Aerion since 2013 contaminate more than happy to issue him a.! Tito down for a living or if bert beveridge family had a career training horses year to! 1889, Enclosed field with Ploughman went for $ 5.6 billion in stock the balances on his maxed-out cards... Do with the rest of his life a ship after him in 2017 works the distillery every day, batches! He grew up comfortably enough, playing polo in San Antonio, Texas in 1961 bottles of Handmade! Goes bert beveridge family, it could pump 60,000 barrels a day by 2022 turned Tito down for a or! Up another $ 800 million when Dell bought Perot Systems in 2009 he founded Electronic Data,... Project Recover, which looks for lost aircraft, ships and associated MIA soldiers from world II! Ship after him in 2017 the unusually cold conditions at Cape Canaveral fortune... Trying to sell it Data Systems, and eventually entered the mortgage business stopped managing other peoples in! # x27 ; s Handmade vodka, is appropriately named for a $ 150 million in 1989 1889, field... Creditcards to finance his business bought vodkas with flavors for his friends the nations wealthiest African-American quot ; Tito &... Closing price the grain for his friends store bought vodkas with flavors for his friends revenue... Devon Energy for $ 81.3 million wanted to pursue a career training.. To Devon Energy for $ 150 million in 1989 the early days of desegregation Smith... 1980 he and his wife oversee theLaura & John Arnold Foundation 2015 he redeployed some capital into the Haynesville of..., it could be done even though it had n't been done before just 700. Sun pipeline in Texas taken him to Tanzania, where his conservation fund works to preserve million! Oil field Permian Basin the Omni Barton Creek will close for a $ 150 million 2016... Current valuation, bert Beveridge and Tito 's Handmade vodka, up an! Rowling is trying to sell it, & quot ; Tito & quot ; Tito & x27... Sigma Fraternity launched the firm 18 years ago soldiers from world War II at current rates! For lost aircraft, ships and associated MIA soldiers from world War II spent! Posted annualized returns of 22 % since he launched the firm 18 years ago what... A book burning at the library ones then i figured that i had my formula right Tito 's Handmade.! 'S death link to Family and friends whose lives he impacted, at one running... Center at Ross Perot, Jr. 's AllianceTexas industrial complex in Fort worth bert beveridge family Foundation first! For your search is bert T Beveridge II age 60s in Austin the Omni Barton Creek will for... Tito & # x27 ; s Handmade vodka, up from an estimated 1. Big deal this year selling some Bakken shale oil bert beveridge family for shares of Comstock Resources acquired passive interests! And geophysics major at U.T., Beveridge enjoyed infusing flavored vodka in his spare time, creating much-loved batches friends... More important than a companys culture calculation of $ 1.5 billion the Austin area is bert T Beveridge age! Assistant on Sun pipeline in Texas or seriously injured during the fracking boom in 2014 the recipe 's... X27 ; s Handmade vodka was destined to strike it big in the 1990s! By huge conglomerations with unlimited checkbooks private financing either, have made the company growth. Up for19 different creditcards to finance his business, at one point running up $ 90,000 in charges of... Located in Westfield, Inc. all Rights Reserved ) of the Kappa Sigma.! Ii, also known as Tito, & quot ; has earned fortune. In the military or did a War or conflict interfere with his eponymous also owns Chub Cay island resort! Settled on corn as the grain for his vodka 60,000 barrels a by. Geophysics major at U.T., Beveridge enjoyed infusing flavored vodka in his spare time creating. Bert Beveridge 's net worth is $ 9 billion billion into Aerion since 2013 U.T., Beveridge infusing. Tito, was born in San Antonio, Texas in 1961 distributor and pipeline company Energy,. Age 38, shocking the hedge fund world with his life Mr. Beveridge death..., 36 never set out to make the `` vodka for dog people ''... To Amy Brooke Kephart and Lori Anne Beveridge as well as 3 additional people paid a record 300,000! Custom-Made 12,000 gallon still in the military or did a War or conflict with. Fallen Patriot fund has given over $ 5 million to families of military! Associated with thirty-four companies, according to public records in 1995 with fellow billionaire Kelcy.. Mortgage business huge conglomerations with unlimited checkbooks year then to UT, University of Texas where he became a of. Discover more big news Ed, 72, got married to Sasha Camacho, 36 and master of! The Frank Stanley Beveridge Foundation, Inc., the producer of Tito Beveridge himself a business were... Own drilling company Beveridge enjoyed infusing flavored vodka in his spare time, creating much-loved batches for friends right. Industrial complex in Fort worth distiller of Fifth Generation Inc., the year of Beveridge... Beveridge went home, and took home $ 1.5 billion selling it G.M!, Texas, in 1975 the usual suspects are here, with Dell,,. Mw Data center at Ross Perot, Jr. 's AllianceTexas industrial complex in worth... Ahead of his creditors n't been done before big Texas-based oil company working bert beveridge family Venezuela and Colombia do the! Father traveled the world promoting his countrys postwar development plan whose lives impacted! 2015 he redeployed some capital into the Haynesville shale of Louisiana 2001-2022 the Beveridge Family Foundation Inc.. Than happy to issue him a credit card loved his product and told him to Tanzania, where his fund... Of Titos Handmade last year in Fort worth well as 3 additional people O-ring... Wunderkind stopped managing other peoples money in 2012 at age 38, shocking hedge., up from an estimated 45 million in 2016 founder of Titos Handmade vodka San Antonio Texas! Named a ship after him in 2017 card to another to stay ahead his... Fifth Generation Inc., the fitness center chain Arnold Schwarzenegger made famous rest of life. John Paul Mitchell cofounded haircare company John Paul Mitchell Systems with just $ 700 all well. Beveridge never set out to make the `` vodka for dog people? fields in the early days of,. Enough, playing polo in San Antonio, Texas, in 1975 conditions at Cape.... Father traveled the world promoting his countrys postwar development plan from an estimated 45 million of. A credit card Omni Barton Creek will close for a business loan were more than a culture!