Ray Davis
Overview
- Source of Wealth
- Pipelines
- Industry
- Energy
- Residence
- Dallas, Texas
- Education
- LeTourneau University's School of Business (Master of Business Administration)
- Marital Status
- Married
- Children
- 3
Assets
- Energy Transfer Equity L.P.71,990,000 shares @ --ET-US
Biography
Ray Davis and fellow billionaire Kelcy Warren founded natural gas distributor and pipeline company Energy Transfer in 1995 and built it into a giant.
Davis stepped down as co-CEO in 2007 and left the board in 2022.
In 2017, despite protests by the Standing Rock Sioux tribe, Energy Transfer finished building the $3.8 billion Dakota Access Pipeline.
Energy Transfer is one of the largest energy companies in the U.S., operating about 130,000 miles of pipeline for oil and natural gas.
Davis and a group of investors bought the Texas Rangers baseball team for about $600 million in 2010; it's now worth $1.8 billion net of debt.
About
In 1991, Davis tried his luck as CEO of publicly-traded dental supplies distributor Healthco, but the company filed for bankruptcy in 1993.