Scott Duncan is one of Texas’ most eligible bachelors and one of four heirs to a massive energy-pipeline fortune built by their late father, Dan Duncan. He is $1.2 billion richer than a year ago thanks to a rise in the stock price of Enterprise Products Partners and a generous dividend plan. His father, formerly the richest man in Houston, died in 2010 at age 77. At the time of his death, there was a one-year lapse on estate taxes, allowing the siblings to inherite the fortune tax-free. Had Duncan died at another time, their fortune would have been subject to a federal tax of at least 45%.
Duncan is the only son of Lee Ellis and Dan Duncan who co-founded Enterprise Products Partners LP and then took it public in 1998. In 2010, Enterprise consisted of over 48,700 miles of onshore and offshore pipelines and nearly 220 million barrel equivalents of natural gas and natural gas liquids of storage capacity. He also headed mid-stream energy firms Duncan Energy Partners LP (NYSE: DEP) and Enterprise GP Holdings LP (NYSE: EPE).His father died aged 77 of a cerebral hemorrhage at hisRiver Oaks, Houston home on March 28, 2010. He inherited $3.1B upon the death of his father along with each of his sisters inheriting the same share.Due to an elimination of the estate tax for the year 2010, Duncan became the first American billionaire to pay no estate tax since its enactment. He lives in Houston. In March 2014, Forbes ran a story on Yahoo; in it, Scott Duncan was detailed as now worth 6.3 Billion USD.