- Texas has the third-largest population of billionaires in the United States, according to U.S. News & World Report.
- Top-ranking billionaires in the state range from tech mogul Michael Dell to a variety of successful investment bankers, according to real-time data from Forbes.
- Many of the Texan billionaires on the list earned their fortune in the oil business.
- Visit Business Insider's homepage for more stories.
Everything is bigger in Texas — including big business.
Consistently ranked as the state with the third-highest number of billionaires in the US, the Lone Star State's wealth is distributed across investment bankers and professional sports team owners. The majority, however, is held by oil tycoons, as Texas produces almost 40% of the nation's oil supply.
Read more: 11 mind-blowing facts about Texas' economy
According to U.S. News & World Report, Texas' billionaire population is third only to superrich hubs New York and California, whose wealthiest individuals include real-estate empires in Manhattan and top execs in Silicon Valley, respectively.
Real-time data from Forbes' billionaire list includes notable names such as Dallas Cowboys' owner Jerry Jones, Shark Tank's Mark Cuban, and Walmart heiress Alice Walton. Additionally, Tito's Vodka and Dell Technologies are headquartered outside Austin, Texas' capital city.
The list features several sets of siblings. In cases where siblings inherited family fortunes and now share the same net worth, as reported by Forbes, we listed them as a single entry. In others, they are listed separately along with their separate sources of wealth.
Keep reading for a complete look at the 25 richest people in Texas.
NOW READ: Mark Cuban is worth $4.1 billion — and he says going 7 years without a vacation helped him get there
25. Gerald J. Ford
Source of wealth: Ford Financial Fund
Industry: Finance & Investments
Net worth: $2.78 billion
According to Forbes, Dallas-based businessman Gerald Ford earned his fortune by purchasing distressed banks. Today, Ford owns 16% of shares at Hilltop Holdings and is the majority shareholder at Mechanics Bank.
24. Thai Lee
Source of wealth: SHI International
Industry: Technology
Net worth: $2.80 billion
Thai Lee is the reigning CEO of SHI International, an IT provider that earned $10 billion in sales last year. The company — which is the largest woman-owned business in the United States— started as a software reseller, purchased by Lee and her now ex-husband for $1 million in 1989. Major clients include Boeing and AT&T.
23. Joseph Liemandt
Source of wealth: Trilogy Software, ESW Capital
Industry: Technology
Net worth: $3.00 billion
Joe Liemandt earned his fortune by founding Trilogy Software company and investment firm ESW Capital, which focuses on acquiring software companies. Liemandt lives in Austin, Texas.
See the rest of the story at Business Insider