Austin, Texas is a pretty cool city. Long known for its vibrant live music scene and delicious barbeque, Austin has transformed into a major hub for the technology industry over the past two decades. As the capital of Texas and the fourth-largest city in the state, it boasts a population of over 978,000 residents as of 2019, making it the second-most populous state capital in the U.S., right after Phoenix. This city is not just a cultural hotspot; it’s also home to eight billionaires, including the tech titan Michael Dell.
Michael Dell, with a net worth of $30 billion, is a prime example of the entrepreneurial spirit that defines this city. His journey from a college dropout to the founder and CEO of Dell Inc. showcases the innovative mindset prevalent in Austin. Dell's success story is just one of many that highlight the thriving economy and entrepreneurial culture of this unique city.
This article will explore the stories of the billionaires residing in Austin, their contributions to various industries, and the factors that make Austin a magnet for wealth and innovation. Let’s dive into the lives of these remarkable individuals who have shaped not just Austin, but the entire landscape of business and technology in the United States.
Table of Contents
- Michael Dell: The Technology Visionary
- Robert F. Smith: The Philanthropic Investor
- Bert "Tito" Beveridge: The Vodka Pioneer
- John Paul DeJoria: The Hair Care Mogul
- Joe Liemandt: The Software Entrepreneur
- Thai Lee: The IT Innovator
- Jim Breyer: The Venture Capitalist
- Brian Sheth: The Private Equity Leader
Michael Dell: The Technology Visionary
Michael Dell is the founder, chairman, and Chief Executive Officer of Dell Inc. He embarked on his entrepreneurial journey at a young age, dropping out of college where he was studying medicine to manage a computer repair business. Starting with just $1,000, he has built Dell into a household name in the computing industry.
Under his leadership, Dell Inc. has grown to become a dominant player in the technology market. Today, Dell owns 65% of MSD Partners, which manages over $16 billion in assets. His success is a testament to the vibrant business ecosystem in Austin that fosters innovation and entrepreneurship.
Michael Dell (Photo by Drew Angerer/Getty Images)
Robert F. Smith: The Philanthropic Investor
Robert F. Smith is the founder of Vista Equity Partners LLC, a private equity firm that has made waves in the investment world. Established in 2000, Vista controls more than $46 billion in assets and has achieved impressive returns for its investors. Smith is not only a savvy businessman but also a philanthropist, known for paying off student loans for graduates at Morehouse College.
Bert "Tito" Beveridge: The Vodka Pioneer
Bert Beveridge is the founder of Tito’s Vodka, a brand that started as a hobby and transformed into a multi-billion dollar business. With a humble beginning, he borrowed $90,000 using 19 credit cards to start his distillery, which has since become one of the fastest-growing vodka brands in the U.S.
John Paul DeJoria: The Hair Care Mogul
John Paul DeJoria is the co-founder of the Paul Mitchell line of hair products and is involved in various business ventures, including the tequila brand Patron. His entrepreneurial spirit and diverse interests showcase the innovative culture of Austin.
Joe Liemandt: The Software Entrepreneur
As the founder of Trilogy Software and ESW Capital, Joe Liemandt made his mark in the software industry. He dropped out of Stanford to follow his dreams and became one of the youngest self-made billionaires in America.
Thai Lee: The IT Innovator
Thai Lee is the CEO and co-founder of Software House International (SHI), which she transformed from a struggling IT company into a thriving enterprise worth billions. Her story is a testament to the potential for growth and success in Austin’s business landscape.
Jim Breyer: The Venture Capitalist
Jim Breyer is the founder of Breyer Capital and a partner at Accel Partners. His move from Silicon Valley to Austin emphasizes the city’s growing reputation as a hub for venture capital and innovation.
Brian Sheth: The Private Equity Leader
Brian Sheth is the co-founder of Vista Equity Partners and has a robust background in finance and investment. His journey reflects the collaborative and dynamic nature of Austin’s business community.
In conclusion, the stories of these billionaires not only highlight their incredible achievements but also illustrate the vibrant and entrepreneurial spirit of Austin, Texas. As the city continues to grow and attract talent, it serves as a beacon for innovation and prosperity, making it an exciting place for both residents and aspiring entrepreneurs.
