Tilman Fertitta
Tilman Joseph Fertitta | |
|---|---|
| Born | June 25, 1957 Galveston, Texas, U.S. |
| Occupation(s) | Entrepreneur, media figure, businessman, diplomat |
| Years active | 1980s–present |
| Known for | Owner of Landry's, Inc., owner of Houston Rockets, United States ambassador to Italy and San Marino |
Tilman Joseph Fertitta (born June 25, 1957) is a prominent American entrepreneur and media figure, currently serving as the United States ambassador to Italy and San Marino since May 2025. He is the proprietor of Landry's, Inc., a major player in the hospitality sector, and owns the NBA franchise Houston Rockets. Since 2009, Fertitta has held the position of chairman for the University of Houston System Board of Regents.
As of May 2025, his estimated net worth stood at $10.7 billion, placing him at No. 248 on the Forbes 400 ranking. Forbes has named him the "World's Wealthiest Restaurateur."
Fertitta became widely known through his role as the lead on CNBC’s Billion Dollar Buyer. On September 5, 2017, he finalized the purchase of the Houston Rockets for $2.2 billion. By April 2025, he emerged as the principal shareholder in Wynn Resorts, marking his entry into the casino and resort business.
Early life and education
Born in Galveston, Texas on June 25, 1957, Tilman Joseph Fertitta descends from Sicilian heritage. His father, Vic Fertitta, operated a seafood restaurant on Galveston Island, where Tilman worked after school tasks such as peeling shrimp.
Fertitta attended both Texas Tech University and the University of Houston, focusing on studies in business administration and hospitality management; however, he did not complete a degree. His initial entrepreneurial venture involved marketing and selling Shaklee vitamins.
During the 1980s, Fertitta acquired Landry's from its founders, Bill and Floyd Landry, who had established the restaurant in the 1970s.
Career
In the 1980s, Fertitta launched a construction and development firm, with his first significant project being the Key Largo Hotel located in Galveston.
Landry's, Inc.
Fertitta was an original partner in Landry's first restaurant, Landry's Seafood, which debuted in Katy, Texas in 1980. The following year, he played a key role in opening Willie G's Seafood & Steaks, a high-end dining establishment situated in Uptown Houston.
By 1986, Fertitta had secured majority ownership of both venues and became the sole proprietor of Landry's Restaurants by 1988. He took the company public in 1993, which fueled expansion through numerous new dining concepts. At that point, Landry's was valued near $30 million.
In recognition of his achievements, Fertitta was inducted into the Texas Business Hall of Fame in 2004 as its second-youngest honoree after Michael Dell.
Fertitta reacquired all outstanding shares of Landry's in 2010, restoring full ownership. By 2011, Landry's valuation had surpassed $1.7 billion.
His extensive portfolio features 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, and Vic & Anthony's Steakhouse. In 2017, he acquired a 50% stake in EMM group, which owns Catch Restaurants. Fertitta also owns the holding entity Fertitta Entertainment.
Hotels
Starting with the Key Largo Hotel in Galveston, Texas, which he sold to finance his acquisition of Landry's, Fertitta expanded his hospitality interests by purchasing the San Luis Resort, Spa & Conference Center in Galveston. In partnership with local authorities, he helped develop a conference center there in 2004. He further grew his hotel holdings on Galveston Island by acquiring the Holiday Inn On the Beach (2003) and Hilton Galveston Island Resort (2004), both neighboring San Luis. In 2015, he introduced the ultra-luxury Villas at San Luis featuring direct access to beach and pools. Recognized by the International Hospitality Institute in 2022 as one of the Global 100 Most Influential Figures in Hospitality, Fertitta opened The Post Oak Hotel at Uptown Houston in 2018—Houston’s sole Forbes Five-Star Hotel and Spa. In 2022, he purchased The Montage Laguna Beach for an estimated $650 million.
Casinos
Landry's made its entry into the casino industry in 2005 through the acquisition of Golden Nugget Casinos located in Las Vegas and Laughlin, Nevada. The company subsequently expanded its casino portfolio to include locations in Atlantic City, New Jersey; Biloxi, Mississippi; and Lake Charles, Louisiana. The Golden Nugget Atlantic City property was obtained from Trump Entertainment Resorts in 2011. Fertitta purchased the Golden Nugget Lake Charles from Pinnacle Entertainment with the objective of establishing a gaming venue near his hometown of Houston; following a strong market reception, an additional 300-room hotel tower was constructed. By November 2024, Fertitta had become the largest individual shareholder of Wynn Resorts, holding a 9.9% stake, which increased to 12.3% by April 2025.
Entertainment
In addition to its portfolio of restaurants, hotels, and casinos, Landry's owns various entertainment assets including amusement parks, aquariums, and the Kemah Boardwalk, acquired in 1999. Fertitta enhanced the boardwalk by integrating Landry's dining establishments and amusement rides, highlighted by the 2007 introduction of the high-velocity wooden roller coaster known as the Boardwalk Bullet. He also launched Boardwalk FantaSea, a luxury yacht cruise offering scenic tours along Galveston Bay.
The marina at Kemah Boardwalk is one of the largest concentrations of boats and yachts within the Greater Houston area. The site features an aquarium that complements Landry's aquarium-themed restaurants located in Houston, Denver, and Nashville. Travel + Leisure has ranked Kemah Boardwalk among the top 10 boardwalks in the United States.
In 2000, Landry's acquired property on Bagby Street in Downtown Houston to transform a former fire station into an aquarium featuring a shark tank and accompanying restaurant, which opened its doors in 2003.
Fertitta also led the redevelopment of the Galveston Island Historic Pleasure Pier following damage caused by Hurricane Ike. The pier reopened in 2012 and now includes an amusement park, a Bubba Gump Shrimp Company restaurant, and various retail outlets.
Texans
Fertitta was an initial investor in the Houston Texans NFL team alongside owner Bob McNair. In 2008, he divested his interest due to NFL regulations that prohibit team stakeholders from owning gambling-related enterprises, as he controlled the Golden Nugget casino brand under Landry's. Both Fertitta and McNair publicly expressed regret over his exit from the franchise.
Astros
In 2003, Fertitta secured naming rights for the Crawford Boxes seating area at Daikin Park, rebranding it as "Landry's Crawford Boxes." This sponsorship is prominently featured during game broadcasts with Landry's signage and its affiliated brands displayed throughout. Fans who catch a home run receive gift certificates redeemable at Landry's restaurants, while promotional staff frequently distribute branded items such as T-shirts.
Rockets
On September 4, 2017, Fertitta agreed to acquire ownership of the Houston Rockets from Leslie Alexander for a record-setting NBA price of $2.2 billion, subject to league approval. The NBA sanctioned the transaction on October 6, 2017. Fertitta funded this purchase by issuing $1.415 billion in bonds and competed against Houston native singer Beyonce Knowles for control of the franchise. The acquisition also included authority over Clutch Gaming, an eSports team specializing in League of Legends.
NHL
After acquiring the Rockets and Toyota Center in 2017, Fertitta showed a strong desire to introduce an NHL franchise to Houston, either by expansion or relocation, with Toyota Center as the preferred venue. In 2018, he engaged in initial discussions with commissioner Gary Bettman about potential ownership. There was speculation regarding a possible purchase of the Arizona Coyotes prior to their anticipated shutdown in 2024. Fertitta is convinced that establishing an NHL team would significantly enhance the economic vitality of downtown Houston. By September 2024, Houston emerged as a top contender for NHL expansion, with Fertitta’s proposal regarded as the leading bid.
WNBA
In 2024, Fertitta expressed intentions to reestablish a WNBA team in Houston, marking a revival since the Houston Comets ceased operations in 2008.
Sheffield Wednesday
As of July 2025, Fertitta is reportedly pursuing the acquisition of English EFL Championship club Sheffield Wednesday from Thai owner Dejphon Chansiri, who has faced significant opposition from supporters. The storied club, competing in England’s second division, has encountered severe financial difficulties, including unpaid salaries for players and staff dating back to May 2025. This situation has resulted in penalties such as a transfer ban extending at least until spring 2027 and wage restrictions on free agents, which are anticipated to remain regardless of ownership changes.
Multiple interested parties have emerged, including a Florida-based group and former Crystal Palace stakeholder John Textor. However, disagreements over valuation and transaction conduct have slowed negotiations. Independent third parties have been appointed to oversee the sale process. Fertitta stands as the sole bidder with an accepted proposal and is engaged in advanced talks. Acquiring the club would broaden his international sports holdings and align him with the increasing trend of American investments in European football.
Investments
Fertitta collaborated with Richard Handler to establish the special-purpose acquisition company Landcadia, merging Fertitta’s Landry's with Handler’s Leucadia. The firm aimed to generate up to $300 million through an initial public offering.
On May 16, 2018, Fertitta announced Landcadia’s purchase of Waitr.
In March 2024, Fertitta acquired Houston’s notable mixed-use property, the River Oaks District, for $450 million.
Politics and Government service
In October 2019, Fertitta publicly condemned Houston Rockets GM Daryl Morey following Morey’s tweet supporting the 2019–20 Hong Kong protests, stressing that the Rockets organization does not engage in political matters. Morey subsequently deleted his tweet.
In April 2020, Texas Governor Greg Abbott appointed Fertitta to the Strike Force to Open Texas, a group charged with developing strategies for safely reopening the state amid the COVID-19 pandemic.
Fertitta has backed politicians from both major parties, including Bill Clinton and members of the Bush family. Alongside his wife, he contributed $140,000 to Donald Trump’s 2020 presidential campaign and $5,600 to Joe Biden’s campaign. In 2022, he donated over $1.1 million to state Republican candidates, notably supporting Greg Abbott.
Democratic Senator Mark Kelly from Arizona is recognized as a close associate of Fertitta.
U.S. Ambassador to Italy and San Marino
On December 21, 2024, President-elect Donald Trump put forward Fertitta as the nominee for United States ambassador to Italy and San Marino. The Senate approved his appointment on April 29, 2025, by a vote of 83–14. He officially presented his credentials to Italian President Sergio Mattarella on May 6, 2025.
Television
Fertitta was announced as the lead figure of Billion Dollar Buyer, a reality television series on CNBC, on January 12, 2016. The show debuted on March 22, 2016, airing at 10 P.M. Eastern Time. Due to its favorable viewership, the program was renewed for a second season featuring additional episodes.
Books
On September 17, 2019, Fertitta released his book Shut Up and Listen! Hard Business Truths That Will Help You Succeed, which details his entrepreneurial experiences alongside practical business guidance. The publication outlines six fundamental principles, termed "Tilmanisms," essential for achieving success: (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.
Personal life
Fertitta married Paige Farwell in 1991; the couple has four children—one daughter and three sons. He is now married to Lauren Ware, an attorney based in Houston.
He is a second cousin to former UFC proprietors Lorenzo and Frank Fertitta III. A passionate supporter of sports, he follows the University of Houston Cougars and Houston Rockets closely and regularly attends their games. In 2016, he contributed $20 million toward renovating the University of Houston’s basketball arena, which was renamed the Fertitta Center in his honor. He also played a role in funding the development of TDECU Stadium.
Fertitta maintains friendships with retired astronaut and Arizona senator Mark Kelly as well as former congresswoman Gabby Giffords.
He holds the position of chairman on the board of Houston Children’s Charity. In 2009, Texas Governor Rick Perry appointed him to serve on the University of Houston System board of regents. Fertitta also led the Houston Police Department’s Police Foundation, which supplies officers with necessary gear and equipment. Furthermore, he serves on the executive committee for the Houston Livestock Show and Rodeo and holds board memberships with the Texas Heart Institute, Museum of Fine Arts Houston, and Greater Houston Partnership.
In May 2022, Fertitta committed $50 million to establish the University of Houston College of Medicine, which was subsequently renamed the Tilman J. Fertitta Family College of Medicine.