Enterprise Products Partners LP on Sunday (March 28) announced that its founder, billionaire Dan Duncan, passed away at his home in Houston at the age of 77. Cause for the death was unclear.
Enterprise Products Partners LP is the largest publicly traded energy partnership and a leading North America provider of midstream services to producers and consumers of gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals. The company is under the management of a company in which Duncan was chairman. The company is based in Houston.
According to Enterprise president and CEO Michael A. Creel, the whole company was shocked and sad before Duncan’s sudden death. Duncan will be “truly missed”, he said.
In its statement on Monday, the company said has not any intention of changing ownership or management of the partnerships that make up Enterprise Products.
Duncan co-founded Houston-based Enterprise in 1968 and took the company public in 1998. He was also owner of mid-stream energy firms Duncan Energy Partners LP (NYSE: DEP) and Enterprise GP Holdings LP (NYSE: EPE).
According to Forbes Magazine, Dan Duncan is the 74th richest man in the world in 2009 with a net worth of $9 billion. The lists stated that Duncan was the wealthiest resident of Houston.
Duncan had a special love for hunting. In 2002, he shot and killed a moose and a wild sheep from a helicopter, which is forbidden under Russian law. He admitted to his actions, but said that he did not know that his actions were illegal. He and other hunters on the trip were not charged.
Duncan contributed a lot to charitable activities. He donated 75 million dollars to Texas Children's Hospital and the Houston Museum of Natural Science, as well as $135 million dollars to Baylor College of Medicine.
Dan Duncan was born on January 2, 1933 in Shelby County in Center, Texas. He grew up with the loss of family care. His parents, brother and siblings died when he was under 17.
Duncan got married and had four children and four grandchildren.