Scott Duncan

Scott Duncan is an American businessman and an heir to Enterprise Products, an energy pipeline that was co-founded by his father.  As of September 2013, Duncan’s net worth was US$5.5 billion, making him one of the youngest billionaires and the 77th richest person on earth according to Forbes.

Quick Facts

Net Worth: $5.5 billion (as of September 2013)

Source: Inheritance, Enterprise Products

Born: 1983 

Nationality: American

Current Residence: Houston Texas

Marital Status: Single

scott duncan

Background

If you run a search on LinkedIn profiles, you will find out that there are about 25 professionals named Scott Duncan. You will also find that among all successful “Scott Duncans” out there, there is one Scott Duncan that stands out from the rest. This is none other than the Scott Duncan that has been mentioned on the Forbes list of young billionaires on many occasions. In this year’s (2013) issue of Forbes Magazine, Scott Duncan is listed as the 77th richest person on the face of the earth. 

dan duncan

Scott's father, the late Dan Duncan

Scott Daniel Duncan was born in 1983 to Dan Duncan and Jan Ellis. He is a billionaire heir to the Duncan fortune, generated from Enterprise Products, which is an energy pipeline that was built by his deceased father in 1968. Scott Duncan is the only son to his parents, and he has three sisters namely Randa Williams, Milane Fratz and Danine Avara, who also got their hands on the massive inheritance from their rich papa. Before his death, Dan Duncan was once named as the richest in Houston and the 3rd richest person in Texas with his then net worth of US$12.4 billion.

enterprise products

Enterprise Products

Enterprise Products Partners LP is a family-controlled business that was co-founded by Dan Duncan in 1968. Dan started off the company with only two trucks, selling door to door. The company went public in the year 1998 and ever since then, it has been one of the most successful companies in the United States. In 2010, the company consisted of not less than 48,700 miles of offshore and onshore pipelines, and about 220 million barrel equivalents of natural gas liquids and natural gas of storage capacity. Presently, Enterprise Products owns 51,000 miles of natural oil, gas, as well as petrochemical pipelines. It also possesses about 14 billion cubic feet of natural gas storage capacity. Randa Duncan Williams (Scott’s sister) acts as the non-executive Chairperson of the Board. 

enterprise products

Inheritance

Dan Duncan passed away on March 28, 2010 at his home in River Oaks, Houston. He died at the age of 77 after suffering from cerebral hemorrhage. Upon his death, Scott Duncan took control of part of his family’s US$12.4 billion pipeline empire. He also inherited a lump sum of $3.1 billion. In 2012, Enterprise Products’ share price rose by 24%, warranting Scott and his siblings a $1 billion increase to their wealth.  

dan duncan and wife

Scott's parents, the late Dan Duncan and Jan Ellis

Personal Life

Scott Duncan is not only one of the youngest billionaires on earth, but he is also one of the most eligible bachelors in the world. Scott is filthy rich and very single!

Interesting Fact about Scott Duncan

  • As a result of a momentary loophole in the estate tax law for the year 2010, Scott Duncan became the very first US-based billionaire to pay zero estate tax since its enactment. 
  • He joins the narrow list of billionaires with the following characteristics; young, single, and got rich through inheritance.

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)