What’s all the noise over buying some company stock? Well, when you’re the billionaire chairwoman of Houston-based Enterprise Products and you’ve just paid $25 million for close to one million shares, it tends to lift a few eyebrows. Reese Energy Consulting today is following news on Williams who’s making headlines from her home city to Wall Street. After a series of transactions over the past week, the high-profile philanthropist now owns more than 699 million shares of Enterprise stock, giving her almost one-third control of a pipeline giant generating nearly $34 billion in revenues this year. The midstream industry has been good to Williams who joined the family-owned business in 1994. She is one of four heirs to the Duncan family fortune—each of which are worth an estimated $6.4 billion—and the only sibling to take an active role in the company her father founded. Williams in June purchased Texas Monthly magazine for an undisclosed amount. And in case you’re wondering, Enterprise stock is up today.
Posted on December 11, 2019