Scott Duncan Net Worth, Career, Achievements & Personal Life

Scott Duncan Net Worth

Scott Duncan is one of the children of the late American businessman and entrepreneur Dan Duncan, who founded the Enterprise Products Company.

After the passing of their father in 2010, Scott and his three siblings Randa Williams, Dannine Avara, and Milane Frantz all received a massive sum of tax-free inheritance from his empire.

The late Duncan was once considered the wealthiest person in Houston and the third-wealthiest man in Texas, with his $12.4 billion pipeline empire.

Today, the successful Enterprise Products Company owns more than 50,000 miles of pipelines for natural oil, gas, and petrochemicals.

In 2020, each of Dan Duncan’s children, including Scott Duncan, received an additional 1 billion dollars in their wealth as the company’s stock price increased by around 24 percent.

As of February 2022, Scott Duncan’s net worth is estimated at over 7 billion dollars by several financial statistics and data collection sites.

Surely, his current financial standing places him on the list of the wealthiest Americans.

Though he inherited his money by virtue of his relationship with the late magnate Dan Duncan as his son, Scott has been working in the family business for most of his time over the past decades, and this, perhaps, is the reason why his fortune has only doubled (instead of decrease) in recent years.

Early Life: Childhood, Education

He was born Scott Daniel Duncan in Houston, Texas, United States in the year 1983. One of the children of Billie and Dan Duncan, his siblings include Randa Williams, Dannine Avara, and Milane Frantz.

When Scott was five years old, his mother died and his father re-married Jan Ellis a year later.

He attended and graduated from Houston Community College in Houston, Texas.

Personal Life: Relationships, Kids, Private Interests

Scott is not known to be in any romantic relationships. Currently, 39 years of age, this intelligent billionaire investor is yet to be married.

It is also not known if he has any children of his own. He lives in Houston, Texas, and appears to be completely focused on his career and strictly minding his family’s business for now.

Professional Life: Entrepreneurial Career

Scott Duncan is mainly an investor. He is known for investing in a few small companies while also looking into his family’s business.

When his father dies in 2010, he inherited 3.1 billion dollars along with each of his siblings inheriting the same share.

Due to an estate tax elimination for the year 2010, Duncan and his three sisters became the first American billionaires to pay no estate tax since its enactment. Forbes magazine includes him among the world’s youngest billionaires.

Enterprise Products Partners L.P. is an American natural gas and crude oil pipeline company based in Houston, Texas.

Under the administration of its former owner Dan Duncan, the company acquired GulfTerra in September 2004. Dan Duncan was the company’s co-founder and its majority owner.

Enterprise Products also purchased Enterprise GP Holdings in 2010. It is now controlled by Scott Duncan and his three sisters, who own a combined 32 percent share in the company.

According to the company, its assets include pipelines (NGL Pipelines & Services, Onshore Natural Gas Pipelines & Services, Onshore Crude Oil Pipelines & Services, and Offshore Pipelines & Services), storage, drilling platforms, fractionations, and natural gas processing facilities.

Scott Duncan Net Worth: Salary, Income Sources, Assets

The billionaire heir to the Duncan family fortune, the American businessman and investor Scott Duncan currently has a net worth of $7.2 billion.

His late father was the co-founder of the Houston, Texas-based natural gas and crude oil pipeline company, Enterprise Products Partners L.P.

The only son of his parents Dan Duncan and Lee Ellis, Scott and his three sisters received a whooping sum of $3 billion each when Dan died from a cerebral hemorrhage in 2010.

Enterprise Products Partners went public in 1998, and as of 2010, had around 50,000 miles of on/offshore pipelines, as well as almost 220 million barrels of natural gas and gas liquids in storage

When his father died in 2010, the family’s fortune was equally split between the four siblings; Scott Duncan, Dannine Avara, Randa Williams, and Milane Frantz.

Each person received a stake that was worth 3 billion in 2010. In 2022, each stake has doubled in value. Forbes magazine ranked the company was ranked as one of the 100 largest companies in the United States of America in 2018 in terms of gross revenue.

In 2022, the company has a market capitalization of $64 billion and generates revenue of more than $50 billion per year.

Since 1998 the Duncan family has received over $8 billion worth of cash distributions from the oil and gas company, and members of the family reportedly own 700 million shares of Enterprise.

Each of Scott and his three sisters personally owns 8 percent of the company, around 175 million shares.