Scott Duncan is a name that resonates in the world of business and wealth. As the heir to a substantial family fortune, he has carved out a notable presence in the energy sector through Enterprise Products Partners L.P. Born in 1983, Duncan's life journey from heir to billionaire is a fascinating story of legacy, industry, and personal growth. His unique position as a billionaire who did not pay estate tax due to policy changes further adds an interesting layer to his narrative.
What makes Scott Duncan's story particularly compelling is not just his immense wealth, estimated at $7.2 billion, but also the legacy of his late father, Dan Duncan, who built a significant empire in the natural gas and crude oil industry. Scott's journey is marked by a blend of family heritage and personal ambition, as he continues to navigate the complexities of a multi-billion dollar enterprise while maintaining a low public profile.
With a keen understanding of the energy sector and a strong commitment to his family's legacy, Scott Duncan exemplifies the characteristics of a successful businessman. His life is a testament to the power of hard work, strategic thinking, and the importance of adapting to changing circumstances in both business and personal life.
Biography Overview
| Category | Details |
|---|---|
| Net Worth | $7.2 Billion |
| Birthdate | 1983 (41 years old) |
| Gender | Male |
| Profession | Businessperson |
| Nationality | United States of America |
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's wealth details reveal that when his father died in 2010, the family's massive fortune was divided among 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 has 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.
