What is Scott Duncan's Net Worth?
Scott Duncan is an American businessman who has a net worth of $7.2 billion. Scott Daniel Duncan was born in 1983. He is the heir to the Duncan family fortune through Enterprise Products Partners L.P, a natural gas and crude oil pipeline company based in Houston, Texas. He is the only son of father Dan Duncan and mother Lee Ellis. Enterprise was taken public in 1998 and in 2010 had almost 50,000 miles of on and offshore pipelines, as well as the equivalent of nearly 220 million barrels (or 14 billion cubic feet) of natural gas and gas liquids in storage capacity. His father Dan passed away in 2010 from a cerebral hemorrhage. Scott inherited over $3 billion along with his three sisters. Since the estate tax had been eliminated in 2010, Scott was the first American billionaire who did not have to pay estate tax since the enactment. Scott is single and lives in Houston.
Scott Duncan wealth details: When hos father died in 2010, the family's massive fortune was divided between the four siblings; Dannine Avara, Randa Williams, Milane Frantz and Scott Duncan. Each child earned a stake that was worth $3 billion in 2010. Today each stake has more than doubled in value. In 2018 the company was ranked by Fortune as one of the 100 largest companies in America in terms of gross revenue. As of this writing the company has a market cap of $64 billion and generates more than $50 billion in revenue per year. Since 1998 the Duncan family have collected more than $8 billion worth of cash distributions from Enterprise. The members of the Duncan family own 700 million shares of Enterprise. Each child personally owns 8% of the company, around 175 million shares. That means when EPD pays its $0.43 quarterly dividend, each child earns $75.2 million. That's $300 million per year.
