Dan Duncan

Dan L. Duncan
Dan L. Duncan
Born	Template:Birth date; Shelby County, Texas, U.S.
Died	March 29, 2010 (aged 77)
Occupation	Business magnate
Years active	1957–2010
Known for	Co-founder and chairman of Enterprise Products

Dan L. Duncan (January 2, 1933 – March 29, 2010) was an American business magnate originating from Center, Texas. He co-established Enterprise Products, serving as its chairman and principal shareholder.

Early life and education

Born in 1933 in the rural area of Shelby County, Texas, Duncan's father worked as a farmer. After losing his mother to tuberculosis and his brother to blood poisoning at the age of seven, he was raised by his grandmother until he completed his studies at Shelbyville High School in 1949. He joined his father in working as a pipeliner and roughneck within oil and gas fields until his father succumbed to leukemia. Duncan enlisted in the United States Army from 1953 to 1955, where he was stationed in Germany performing radio communications duties following the Korean War. Upon finishing his military service, he utilized the G.I. Bill to pursue studies in business, finance, and accounting at Massey Business College in Houston while simultaneously employed by the U.S. Post Office.

Career

Duncan started his career in 1957 at Wanda Petroleum, specializing in midstream pipeline operations. In 1968, he departed Wanda to establish Enterprise Products Co., beginning with $10,000 capital and two propane trucks. Enterprise Products Partners LP went public in 1998. By 2010, the company managed over 48,700 miles of pipelines both onshore and offshore, along with nearly 220 million barrel equivalents of storage capacity for natural gas and natural gas liquids. Duncan also held leadership roles at midstream energy entities Duncan Energy Partners LP (NYSE: DEP) and Enterprise GP Holdings LP (NYSE: EPE). His industry contributions were recognized with the Petrochemical Heritage Award in 2007.

Philanthropy

Duncan contributed $75 million collectively to Texas Children's Hospital and the Houston Museum of Natural Science, along with a $135 million donation to Baylor College of Medicine. Additionally, he gifted the Jean Dubuffet sculpture "Monument au Fantôme" to Discovery Green Park situated near the George R. Brown Convention Center.

Hunting activities

Owning the expansive 5,000-acre Double D Ranch in Texas, Duncan was an avid member of Safari Club International and amassed numerous hunting accolades. In 2006, he received the SCI World Conservation Hunting Award for accomplishments spanning six continents and multiple "Grand Slam" and "Inner Circle" distinctions. His name appears 407 times in SCI’s trophy record book, including records for species such as lions, elephants, rhinoceroses, and polar bears.

In 2007, Duncan voluntarily testified before a Houston grand jury concerning a 2002 hunting expedition in Russia during which he legally killed a moose and wild sheep—actions prohibited under Russian law. While acknowledging these activities, he stated he was unaware they were illegal. The grand jury ultimately decided not to file charges against him or any involved parties.

Wealth

Forbes listed Duncan as Houston’s wealthiest individual and third richest Texan in 2007, estimating his net worth at $8.2 billion. By October 2008, this figure had decreased to $6.3 billion. At the time of his passing, his fortune was approximated at $9 billion.

Personal life

Duncan’s marital history includes three unions: first with Barbara Ann Aycock (1958–1971), followed by Billie Ruth Bearden (1974–1988; deceased), and lastly Jan Ellis (from 1989 until his death). He fathered three children—Randa, Dannine, and Milane—with Barbara and adopted a son named Scott with Billie. All four children are billionaires: Randa Duncan Williams, Milane Duncan Frantz, Dannine Duncan Avarra, and Scott Duncan.

At age 77, Duncan passed away due to a cerebral hemorrhage at his Texas ranch on March 28, 2010. The repeal of the U.S. estate tax that year resulted in his heirs becoming the first American billionaires to inherit wealth free from estate tax since its original enactment.

External links

Forbes.com: World's Wealthiest Individuals by Forbes (2005)