Tilman Fertitta

Tilman Joseph Fertitta (born June 25, 1957) is an American diplomat, businessman and television personality. He serves as the United States ambassador to Italy and San Marino since May 2025. He is the owner of the entertainment company Landry's and the National Basketball Association (NBA)'s Houston Rockets. Fertitta was the chairman of the board of regents of the University of Houston System from 2014 to 2025.

As of May 2025, his net worth was estimated at $10.7 billion. He is placed at No. 248 on the Forbes 400 list. Forbes calls him the "World's Richest Restaurateur."

Fertitta became the star of Billion Dollar Buyer on CNBC. On September 5, 2017, Fertitta reached an agreement to buy the Houston Rockets for $2.2 billion.

As of April 2025, Fertitta is the lead shareholder in Wynn Resorts.

Early life and education

Tilman Joseph Fertitta was born in Galveston, Texas, on June 25, 1957. He is of Sicilian descent. His father, Vic, owned a seafood restaurant on Galveston Island, and after school, Tilman worked peeling shrimp in his father's restaurant.

Fertitta attended Texas Tech University and the University of Houston, studying business administration and hospitality management but never graduated. His first entrepreneurial experience involved selling and promoting Shaklee vitamins.

In the 1980s, Feritta bought Landry's in Katy, Texas from brothers Bill and Floyd Landry after being introduced by his cousin. The Landry brothers were from Lafayette and started the restaurant in the 1970s.

Career

In the 1980s, Fertitta founded and ran a construction and development business, and developed his first major project, the Key Largo Hotel in Galveston.

Landry's restaurants

Fertitta was a partner in the first Landry's Restaurant, Landry's Seafood, which opened its doors in the Houston suburb of Katy, Texas, in 1980. A year later, he helped open Willie G's Seafood & Steaks, a more upscale restaurant in Uptown Houston.

In 1986, Fertitta gained controlling interests of both locations, and in 1988, became sole owner of Landry's Restaurants. In 1993, he took Landry's, Inc. public and the company grew quickly.

In 1993, Landry's was valued at approximately $30 million.

In 2004, Fertitta was elected to the Texas Business Hall of Fame, becoming the second-youngest Texan to ever earn that distinction, behind only Michael Dell.

In 2010, Fertitta, who already owned the majority of Landry's, Inc. stock, purchased all outstanding shares, becoming sole owner again. By 2011, the company's value had skyrocketed to a value of more than $1.7 billion.

The Landry's portfolio includes: The Golden Nugget Hotel and Casinos; Morton's The Steakhouse; Rainforest Cafe; Bubba Gump Shrimp Co.; McCormick & Schmick's Seafood & Steaks; Saltgrass Steak House; Claim Jumper; Chart House; The Oceanaire; Mastro's Restaurants; Grotto Restaurants, The Boathouse Restaurants and Vic & Anthony's Steakhouse.

In 2017 Fertitta acquired half of EMM group, owner of the Catch Restaurants. He is also the owner of the holding company Fertitta Entertainment.

Hotels

Fertitta first built the Key Largo Hotel in Galveston, Texas and then sold it in order to buy the rights to Landry's. After acquiring restaurants under the company, Fertitta started focusing more on the hospitality division of Landry's and acquired the San Luis Resort, Spa, & Conference Center in Galveston, Texas. He also partnered with the City of Galveston to build the conference center in 2004 inside the resort. Fertitta since acquired two additional hotels on the island, including the Holiday Inn On the Beach in 2003, and the Hilton Galveston Island Resort in 2004, which stands adjacent to his San Luis Resort. In 2015, Fertitta added the Villas at San Luis section of the hotel, which consists of ultra-luxury villas with direct access to both the beach and the hotel's pool. In June 2022, he was recognized by the International Hospitality Institute on the Global 100 in Hospitality, on a list featuring the 100 Most Powerful People in Global Hospitality. In 2018, Fertitta opened The Post Oak Hotel at Uptown Houston, introducing a new level of luxury to Houston. The Post Oak Hotel quickly became the city's only Forbes Five-Star Hotel and Spa. In 2022 Fertitta acquired The Montage Laguna Beach for approximately $650 million.

Casinos

Landry's first expanded to casinos in 2005 when it bought Golden Nugget Casinos, including locations in Las Vegas and Laughlin, Nevada. Since then, Landry's has opened casinos in Atlantic City, New Jersey; Biloxi, Mississippi; and Lake Charles, Louisiana. The Golden Nugget Atlantic City was previously called the Trump Marina. Fertitta purchased this casino from Trump Entertainment Resorts in 2011.

The Golden Nugget Lake Charles was bought after Fertitta found a license and resort land for sale from Pinnacle Entertainment, which owns the adjacent L'Auberge du Lac Resort. Fertitta stated he built the casino with the idea of having a casino in close proximity to his Houston hometown. After the first year proved the casino was successful, a new 300 room tower began construction on the property.

In November 2024, Fertitta became the largest stockholder at the prominent Las Vegas Wynn Resorts after acquiring 9.9% of the company. In April 2025, Fertitta managed to increase his stake at Wynn Resorts after acquiring 12.3% of the company.

Entertainment

In addition to restaurants, hotels, and casinos, Landry's also owns amusement parks, aquariums, and the Kemah Boardwalk. Landry's, Inc. first acquired the Kemah Boardwalk in 1999. After acquiring the boardwalk, Fertitta added a few Landry's restaurants, and a few rides. In 2007, he added the Boardwalk Bullet which is a high speed wooden roller coaster. He also added the Boardwalk FantaSea, which is a luxury yacht cruise service where guests ride along the Galveston Bay.

The marina on the boardwalk has a large concentration of boats and yachts in the Greater Houston area. The boardwalk also includes an aquarium, which is under the same Landry's line of aquarium restaurants with locations in Houston, Denver, and Nashville. Travel + Leisure magazine named the Kemah boardwalk a top 10 American boardwalk.

Fertitta redeveloped the pleasure pier in Galveston, Texas, after the pier had closed after damages by Hurricane Ike. The pier reopened in 2012 as the Galveston Island Historic Pleasure Pier. The redeveloped pier includes an amusement park, Bubba Gump Shrimp Company restaurant, as well as shops.

Sports

Rockets

On September 4, 2017, he agreed to purchase the Rockets from Leslie Alexander, pending league approval, for an NBA record $2.2 billion. On October 6, 2017, Fertitta was approved by the NBA to own the Houston Rockets. Fertitta paid for the Rockets by selling $1.415 billion worth of bonds and was competing with Houston-native singer Beyonce Knowles to purchase the team. By buying the Houston Rockets he also became the owner of Clutch Gaming, a professional eSports organization focused on League of Legends.

Texans

During the process of building the Houston Texans as an NFL team, Fertitta was one of the original investors in creating the franchise. He was a partner of Texans owner Bob McNair until 2008 when he had to sell his interest in the franchise because he owns the Golden Nugget casino chain (a Landry's subsidiary) and NFL rules state any staff member of a team cannot be associated with gambling. Both Fertitta and McNair were disappointed, as Fertitta was part of the franchise since its establishment.

Astros

In 2003, Fertitta bought the naming rights to the Crawford Boxes seating section of Daikin Park, calling it "Landry's Crawford Boxes". The term has become a commercial moniker during radio and television broadcasts. A Landry's sign is placed above the section, along with many of the company's subsidiaries. Traditionally, when a fan catches a home run, they are awarded a gift certificate to one of Landry's restaurants. Landry's promoters often visit the section and give away items such as T-shirts.

NHL

After Fertitta bought the Rockets and Toyota Center in 2017, he expressed interest in an expansion team or relocating an NHL team to Houston, with both options most likely playing at Toyota Center. In 2018, he held preliminary talks with commissioner Gary Bettman to discuss ownership of a team. It was speculated he was working on a deal to purchase the Arizona Coyotes prior to their deactivation in 2024. Fertitta has continually stated his interest in owning a hockey team and believes that one would boost the economy of downtown Houston. In September 2024, it was reported by Andy Strickland that for the upcoming board of governors meeting regarding expansion, Houston was one of the leading candidates for expansion, with Fertitta's bid being the frontrunner for the city.

WNBA

In 2024, Fertitta expressed interest in bringing back a WNBA franchise to Houston, which would be their second team since the Houston Comets folded in 2008.