LYB joins BP, NRG Energy and Chevron Phillips Chemical on the list. Photo via lyondellbasell.com

Four Houston energy and chemical giants have just landed on Forbes' new ranking of "America's Best Employers for Company Culture." The report highlights six more Houston-area companies for their inspiring company culture.

Forbes partnered with market research firm Statista to survey over 218,000 workers at companies with at least 1,000 employees throughout the U.S, and relied on data from the past three years of employee surveys (with an emphasis on the most recent data and recommendations from current employees). Companies don't pay to be included, Forbes additionally noted.

Among the final list of 600 U.S. companies, 30 Texas employers were praised for providing "a unifying company culture that inspires a sense of purpose and loyalty among employees."

The Houston employers in the energy and chemical sector are:

  • No. 325 – BP
  • No. 492 – Chevron Phillips Chemical
  • No. 558 – NRG Energy
  • No. 593 – LyondellBassell

According to the report's research, employers with a successful company culture don't rely on "surface-level perks" such as free lunches, wellness apps, and flex days to inspire employee engagement. Instead, employers that focused on conflict resolution and coaching their managers saw a reduction in employee burnout and an increase in "perceptions of fairness and leadership care."

"In fact, the researchers noted that when 'senior leaders changed how they led — how they ran meetings, gave feedback, made decisions and responded to challenge — trust scores rose by an average of 26 percent,'" the report said.

The six other Houston-area companies that earned national acclaim for their company culture are:

  • No. 15 — Houston Methodist
  • No. 47 — MD Anderson
  • No. 220 – Stewart Info Services
  • No. 332 – Baylor College of Medicine
  • No. 525 – Insperity
  • No. 586 – Waste Management

Other Texas employers with great company culture:

Elsewhere in Texas, 15 North Texas companies and five Central Texas companies were included on Forbes' list of employers with the best company culture.

The three Austin-area companies that earned spots on the list include Austin Community College District (No. 56), Round Rock-based Dell Technologies (No. 207), and Keller Williams Realty (No. 352).

The two San Antonio-based companies that made the cut are beloved Texas grocery chain H-E-B (No. 445), and municipal electric utility company CPS Energy (No. 551).

The 15 Dallas-Fort Worth-based companies that made the list include:

  • No. 58 – The Container Store, Coppell
  • No. 73 – Lewisville Independent School District, Lewisville
  • No. 117 – Southwest Airlines, Dallas
  • No. 123 –Topgolf, Dallas
  • No. 170 – McKesson, Irving
  • No. 190 – Kimberly-Clark, Irving
  • No. 245 – Jacobs Solutions,Dallas
  • No. 312 – Brinker International, Coppell
  • No. 350 – Texas Health Resources, Arlington
  • No. 482 – Toyota North America, Plano
  • No. 562 – Dallas Area Rapid Transit (DART), Dallas
  • No. 567 – AT&T, Dallas
  • No. 569 – Energy Transfer, Dallas
  • No. 591 – American Airlines Group, Fort Worth
  • No. 597 – Aimbridge Hospitality, Plano
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A version of this article originally appeared on CultureMap.com.

ConocoPhillips is one of the Houston companies on the new Forbes 2000 list. Photo via conocophillips.com

18 Houston-based energy companies land on Forbes Global 2000 list

Forbes 2000

More than 60 Texas-based companies appear on Forbes’ 2025 list of the world’s 2,000 biggest publicly traded companies, and nearly half come from Houston, the majority in the energy sector.

Among Texas companies whose stock is publicly traded, Spring-based ExxonMobil is the highest ranked at No. 13 globally.

Rounding out Texas’ top five are Houston-based Chevron (No. 30), Dallas-based AT&T (No. 35), Austin-based Oracle (No. 66), and Austin-based Tesla (No. 69).

Ranking first in the world is New York City-based J.P. Morgan Chase.

Forbes compiled this year’s Global 2000 list using data from FactSet Research to analyze the biggest public companies based on four metrics: sales, profit, assets, and market value.

“The annual Forbes Global 2000 list features the companies shaping today’s global markets and moving them worldwide,” said Hank Tucker, a staff writer at Forbes. “This year’s list showcases how despite a complex geopolitical landscape, globalization has continued to fuel decades of economic growth, with the world’s largest companies more than tripling in size across multiple measures in the past 20 years.”

The U.S. topped the list with 612 companies, followed by China with 317 and Japan with 180.

Here are the rest of the Texas-based companies in the Forbes 2000, grouped by the location of their headquarters and followed by their global ranking.

Houston area (those in the energy sector are in bold)

  • ConocoPhillips (No. 105)
  • Phillips 66 (No. 276)
  • SLB (No. 296)
  • EOG Resources (No. 297)
  • Occidental Petroleum (No. 302)
  • Waste Management (No. 351)
  • Kinder Morgan (No. 370)
  • Hewlett Packard Enterprise (No. 379)
  • Baker Hughes (No. 403)
  • Cheniere Energy (No. 415)
  • Corebridge Financial (No. 424)
  • Sysco (No. 448)
  • Halliburton (No. 641)
  • Targa Resources (No. 651)
  • NRG Energy (No. 667)
  • Quanta Services (No. 722)
  • CenterPoint Energy (No. 783)
  • Coterra Energy (No. 1,138)
  • Crown Castle International (No. 1,146)
  • Westlake Corp. (No. 1,199)
  • APA Corp. (No. 1,467)
  • Comfort Systems USA (No. 1,629)
  • Group 1 Automotive (No. 1,653)
  • Talen Energy (No. 1,854)
  • Prosperity Bancshares (No. 1,855)
  • NOV (No. 1,980)

Austin area

  • Dell Technologies (No. 183)
  • Flex (No. 887)
  • Digital Realty Trust (No. 1,063)
  • CrowdStrike (No. 1,490)

Dallas-Fort Worth

  • Caterpillar (No. 118)
  • Charles Schwab (No. 124)
  • McKesson (No. 195)
  • D.R. Horton (No. 365)
  • Texas Instruments (No. 374)
  • Vistra Energy (No. 437)
  • CBRE (No. 582)
  • Kimberly-Clark (No. 639)
  • Tenet Healthcare (No. 691)
  • American Airlines (No. 834)
  • Southwest Airlines (No. 844)
  • Atmos Energy (No. 1,025)
  • Builders FirstSource (No. 1,039)
  • Copart (No. 1,062)
  • Fluor (No. 1,153)
  • Jacobs Solutions (1,232)
  • Globe Life (1,285)
  • AECOM (No. 1,371)
  • Lennox International (No. 1,486)
  • HF Sinclair (No. 1,532)
  • Invitation Homes (No. 1,603)
  • Celanese (No. 1,845)
  • Tyler Technologies (No. 1,942)

San Antonio

  • Valero Energy (No. 397)
  • Cullen/Frost Bankers (No. 1,560)

Midland

  • Diamondback Energy (No. 471)
  • Permian Resources (No. 1,762)
---

A version of this article originally appeared on CultureMap.com.

Three young professionals have made the cut for this year's Forbes Under 30 list in the Energy and Green Tech list for 2025. Photos via Forbes

Under 30: Houston innovators snag spots on Forbes list of top young energy professionals

A handful of Houstonians have been named to the Forbes 30 Under 30 Energy and Green Tech list for 2025.

Kip Daujotas is an investment associate at Aramco Ventures, a $7.5 billion venture capital arm of the world's largest energy company. Houston is the Americas headquarters for Saudi Aramco. Since its inception in 2012, Aramco Ventures has invested in more than 100 tech startups. Daujotas joined the team over two years ago after studying for an MBA at Yale University. He led Aramco’s first direct air capture (DAC) investment — in Los Alamos, New Mexico-based Spiritus.

Also representing the corporate side of the industry, Wenting Gao immigrated from Beijing to obtain an economics degree from Harvard University, then got a job at consulting giant McKinsey, where she recently became the firm’s youngest partner. Gao works on bringing sustainability strategies to energy and materials companies as well as investors. Her areas of expertise include battery materials, waste, biofuels, and low-carbon products.

Last but not least, Houston entrepreneur Rawand Rasheed is co-founder and CEO of Houston-based Helix Earth. He co-founded the startup after earning a doctoral degree from Rice University and co-inventing Helix’s core technology while at NASA, first as a graduate research fellow and then as an engineer. The core technology, a space capsule air filtration system, has been applied to retrofitting HVAC systems for commercial buildings.

Each year, Forbes 30 Under 30 recognizes 600 honorees in 20 categories. The 2025 honorees were selected from more than 10,000 nominees by Forbes staff and a panel of independent judges based on factors such as funding, revenue, social impact, scale, inventiveness, and potential.

Specifically, the Energy & Green Tech category recognizes young entrepreneurs driving innovation that’s aimed at creating a cleaner, greener future.

“Gen Z is one of the fastest-growing groups of entrepreneurs and creators, who are reshaping the way the world conducts business, and our Under 30 class of 2025 proves that you can never begin your career journey too early,” says Alexandra York, editor of Forbes Under 30. “With the expansion across AI, technology, social media, and other industries, the honorees on this year’s list are pushing the boundaries and building their brands beyond traditional scopes.”

Elon Musk is the richest person in Austin and in America. Photo by Justin Sullivan/Getty Images

Texas billionaire Elon Musk, Houston energy execs named richest in America by Forbes

report

SpaceX and Tesla co-founder Elon Musk has topped Forbes' list as the wealthiest person in America for the third time. Musk is one of seven Austin billionaires who have made the new Forbes 400, a list of the 400 richest people in the United States for 2024.

Forbes estimates Musk's net worth in 2024 as $244 billion, which is $7 billion less than his estimated net worth last year. Musk, 53, is the cofounder of seven companies, including SpaceX, xAI, The Boring Company, among others. He serves as the CEO of Tesla, which is headquartered in Austin.

In 2022, Musk famously acquired Twitter in a $44 billion deal.

"Forbes estimates that the social media company, which he renamed X, is worth nearly 70 percent less as of August 2024.," Forbes wrote in Musk's profile.

Most recently, court filings revealed Musk shifted his plans to relocate X's headquarters from San Francisco to Bastrop, a city 30 miles southeast of Austin. He originally stated he would be moving the company's headquarters to Austin in July 2024, after California Governor Gavin Newsom signed a new law that barred school districts from requiring staff to notify parents of their child’s gender identification change.

A dozen of Houston's illustrious billionaires have also made the cut on the list. Houston hospitality king and Rockets owner Tilman Fertitta is the 12th richest Texan and the 99th richest person in the United States, according to Forbes' list, released October 1.

Forbes estimates Fertitta's net worth in 2024 as $10.1 billion, which has steadily climbed from his 2023 net worth of $8.1 billion. Fertitta, 67, purchased the Houston Rockets in October 2017 for $2.2 billion. The billionaire also owns Texas-based hospitality and entertainment corporation Landry's. In 2019, Fertitta embarked on a new venture as an author.

"Fertitta released his first book titled Shut Up And Listen! in September [2019], detailing his experiences in the dining and entertainment industries," Forbes wrote in Fertitta's profile.

The Forbes 400list is a definitive ranking of the wealthiest Americans, using interviews, financial data, and documentation provided by billionaires and their companies.

According to the report, America's elite class is now worth $5.4 trillion collectively, which is a $1 trillion jump since 2023.

“The Forbes 400 is richer than ever, and it’s harder than ever to be one of the 400 richest people in America," said Forbes senior editor Chase Peterson-Withorn in a press release.

In all, 43 Texas billionaires made the list. Newcomers include Houston-based Westlake Corporation co-owners Albert Chao, James Chao, and their respective families. According to their Forbes profiles, the Chaos own nearly 25 percent of Westlake Corporation, which produces low-density polyethylene that is used for food packaging and other products.

"His father, T.T. Chao, moved the family from Taiwan to the U.S. and founded Westlake in 1986," Albert Chao's profile says. "Albert and brother James Chao are credited with helping launch the company. Albert was CEO from 2004 to July 2024, when he became executive chairman. James was chairman from 2004 to July 2024, when he became senior chairman."

Here's how the rest of Houston's billionaires fared on this year's list:

  • Oil and gas chairman Richard Kinder ranks No. 112 nationally with an estimated worth of $9.3 billion.
  • Houston pipeline heir Randa Duncan Williams ties for No. 126 with an estimated net worth of $8.6 billion. Fellow pipeline heirs Dannine Avara and Milane Frantz tie for 130th nationally. Each has an estimated net worth of $8.5 billion. Scott Duncan ranks No. 137 with an $8.3 billion estimated net worth.
  • Toyota mega-dealer Dan Friedkin and Houston oil tycoon Jeffery Hildebrand tie for 156th nationally with an estimated net worth of $7.6 billion.
  • Houston Texans owner Janice McNair ties for No. 210 nationally with an estimated net worth of $6.2 billion.
  • Energy exploration chief exec George Bishop of The Woodlands ranks No. 266 with an estimated net worth of $5 billion.

Missing from the 2024 list is local hedge fund honcho John Arnold, who ranked No. 345 nationally in 2023 but now ranks No. 991 in 2024 with an estimated net worth of $3.3 billion. As of October 1, Forbes estimates Arnold's net worth at $2.9 billion.

Find all the Texans on the new Forbes 400 list here.

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This article originally ran on CultureMap.

Giga Energy's co-founders landed on Forbes 30 Under 30 — plus more things to know this week. Photo via gigaenergy.com

Houston-area entrepreneurs land on Forbes 30 Under 30 — and more things to know this week

take note

Editor's note: It's a new week — start it strong with three quick things to catch up on in Houston's energy transition: an event not to miss, a podcast to stream, and more.

East Texas entrepreneurs score prestigious 30 Under 30 recognition

Giga Energy co-founders Matt Lohstroh and Brent Whitehead secured spots on Forbes' annual 30 Under 30 ranking in the energy category. The Texas A&M University alumni founded the company in 2019. The startup's technology uses flare gas to generate clean and sustainable energy that is redirected into powering shipping containers full of bitcoin miners they put on top of oil wells.

Event not to miss

There's one last energy-related event for the year. On December 19, the UH Tech Bridge's Innov8Hub Pitch Day is your last chance of the year to network with industry experts, and discover the next big thing. Register.

Podcast to stream: Peter Rodriguez, dean of Rice University's Jones Graduate School of Business, on the Houston Innovators Podcast

Houston is known as the energy capital of the world, and the industry is ingrained into Rice University's DNA — especially the university's business school.

"We are deeply connected — and have been for a long time," says Peter Rodriguez, dean of Rice University's Jones Graduate School of Business. "One of the five pillars of our strategy is to be the leading business school in the country for the studying and the advancement for the energy transition and decarbonization of the economy. We think we can be the premiere school for training people for this rapidly evolving field of energy and to promulgate great research."

Rodriguez shares more about what he's accomplished in his tenure as dean on the Houston Innovators Podcast.

Houston drivers — here's your validation for your road rage. Photo by Manuel Velasquez on Unsplash

Houston drivers have the 4th worst commute in America, study finds

on the road again?

For better or for worse, it's finally been confirmed – Houston traffic is among the worst in the nation, according to a new study by Forbes Home.

Houston ranked No. 4 in the Forbes study, which analyzed 25 of the largest U.S. cities to discover the average commute times for workers. Using 2021 U.S. Census data, the report determined the average time spent traveling to work in Houston is 30 minutes, which is only the ninth worst commute time out of all cities on the list.

"No amount of personal playlist songs, audiobooks, podcasts, commuter coffee, or glove compartment snacks can make a tough commute more pleasant," the report said.

While the COVID-19 pandemic brought commuting to a halt for most workers, about 74 percent of Americans are back to making those early morning and afternoon drives to-and-from their employers. Work-from-home rates have continuously dropped since 2020, which isn't helping the rise in commute times.

Houston has nearly 1.75 million workers over the age of 16 living within the area, and only 4.6 percent of households don't have access to a car. Unless workers live very close to their jobs, it's otherwise pretty difficult to walk or bike to work in such a gridlock-stricken city.

It surely doesn't help that the study cites Houston's (unfortunate) fame for being the No. 1 most stressful U.S. city for workers as having a hand in its overall ranking. Add commuting to that list of stressors, and it all equals an unhealthy effect on the working population.

"Research by the National Library of Medicine has found that the longer the commute time, the less satisfaction with work and life as hours spent commuting daily can contribute to a decline in mental and physical health," the report said.

Elsewhere in Texas, Dallas (No. 9) and Fort Worth (No. 10) both made it into the top 10 with their respective commute times of 29.70 and 26.80 minutes. San Antonio ranked No. 16 with an average commute time of 25.40 minutes. Austin, surprisingly, ranked No. 18 overall with an average of 27.90 minutes.

The top 10 U.S. cities with the hardest commutes are:

  • No. 1 – Nashville, Tennessee
  • No. 2 – Charlotte, North Carolina
  • No. 3 – Jacksonville, Florida
  • No. 4 – Houston, Texas
  • No. 5 – Washington, D.C.
  • No. 6 – New York City, New York
  • No. 7 – Boston, Massachusetts
  • No. 8 – Los Angeles, California
  • No. 9 – Dallas, Texas
  • No. 10 – Fort Worth, Texas
The full report can be found on forbes.com.

———

This article originally ran on CultureMap.

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Spring-based private equity firm acquires West Texas wind farm

power deal

Spring-based private equity firm Arroyo Investors has teamed up with ONCEnergy, a Portland, Oregon-based developer of clean energy projects, to buy a 60-megawatt wind farm southeast of Amarillo.

Skyline Renewables, which acquired the site, known as the Whirlwind Energy Center, in 2018, was the seller. The purchase price wasn’t disclosed.

Whirlwind Energy Center, located in Floyd County, West Texas, comprises 26 utility-scale wind turbines. The wind farm, built in 2007, supplies power to Austin Energy.

“The acquisition reflects our focus on value-driven investments with strong counterparties, a solid operating track record, and clear relevance to markets with growing capacity needs,” Brandon Wax, a partner at Arroyo, said in a press release. “Partnering with ONCEnergy allows us to leverage deep operational expertise while expanding our investment footprint in the market.”

Arroyo focuses on energy infrastructure investments in the Americas. Its portfolio includes Spring-based Seaside LNG, which produces liquefied natural gas and LNG transportation services.

Last year, Arroyo closed an investment fund with more than $1 billion in total equity commitments.

Since its launch in 2003, Arroyo has “remained committed to investing in high-quality assets, creating value and positioning assets for exit within our expected hold period,” founding partner Chuck Jordan said in 2022.

$524M Texas Hill Country solar project powered by Hyundai kicks off

powering up

Corporate partners—including Hyundai Engineering & Construction, which maintains a Houston office—kicked off a $524 million solar power project in the Texas Hill Country on Jan. 27.

The 350-megawatt, utility-scale Lucy Solar Project is scheduled to go online in mid-2027 and represents one of the largest South Korean-led investments in U.S. renewable energy.

The solar farm, located on nearly 2,900 acres of ranchland in Concho County, will generate 926 gigawatt-hours of solar power each year. That’s enough solar power to supply electricity to roughly 65,000 homes in Texas.

Power to be produced by the hundreds of thousands of the project’s solar panels has already been sold through long-term deals to buyers such as Starbucks, Workday and Plano-based Toyota Motor North America.

The project is Hyundai Engineering & Construction’s largest solar power initiative outside Asia.

“The project is significant because it’s the first time Hyundai E&C has moved beyond its traditional focus on overseas government contracts to solidify its position in the global project financing market,” the company, which is supplying solar modules for the project, says on its website.

Aside from Hyundai Engineering & Construction, a subsidiary of automaker Hyundai, Korean and U.S. partners in the solar project include Korea Midland Power, the Korea Overseas Infrastructure & Urban Development Corp., solar panel manufacturer Topsun, investment firm EIP Asset Management, Primoris Renewable Energy and High Road Energy Marketing.

Primoris Renewable Energy is an Aurora, Colorado-based subsidiary of Dallas-based Primoris Services Corp. Another subsidiary, Primoris Energy Services, is based in Houston.

High Road is based in the Austin suburb of West Lake Hills.

“The Lucy Solar Project shows how international collaboration can deliver local economic development and clean power for Texas communities and businesses,” says a press release from the project’s partners.

Elon Musk vows to put data centers in space and run them on solar power

Outer Space

Elon Musk vowed this week to upend another industry just as he did with cars and rockets — and once again he's taking on long odds.

The world's richest man said he wants to put as many as a million satellites into orbit to form vast, solar-powered data centers in space — a move to allow expanded use of artificial intelligence and chatbots without triggering blackouts and sending utility bills soaring.

To finance that effort, Musk combined SpaceX with his AI business on Monday, February 2, and plans a big initial public offering of the combined company.

“Space-based AI is obviously the only way to scale,” Musk wrote on SpaceX’s website, adding about his solar ambitions, “It’s always sunny in space!”

But scientists and industry experts say even Musk — who outsmarted Detroit to turn Tesla into the world’s most valuable automaker — faces formidable technical, financial and environmental obstacles.

Feeling the heat

Capturing the sun’s energy from space to run chatbots and other AI tools would ease pressure on power grids and cut demand for sprawling computing warehouses that are consuming farms and forests and vast amounts of water to cool.

But space presents its own set of problems.

Data centers generate enormous heat. Space seems to offer a solution because it is cold. But it is also a vacuum, trapping heat inside objects in the same way that a Thermos keeps coffee hot using double walls with no air between them.

“An uncooled computer chip in space would overheat and melt much faster than one on Earth,” said Josep Jornet, a computer and electrical engineering professor at Northeastern University.

One fix is to build giant radiator panels that glow in infrared light to push the heat “out into the dark void,” says Jornet, noting that the technology has worked on a small scale, including on the International Space Station. But for Musk's data centers, he says, it would require an array of “massive, fragile structures that have never been built before.”

Floating debris

Then there is space junk.

A single malfunctioning satellite breaking down or losing orbit could trigger a cascade of collisions, potentially disrupting emergency communications, weather forecasting and other services.

Musk noted in a recent regulatory filing that he has had only one “low-velocity debris generating event" in seven years running Starlink, his satellite communications network. Starlink has operated about 10,000 satellites — but that's a fraction of the million or so he now plans to put in space.

“We could reach a tipping point where the chance of collision is going to be too great," said University at Buffalo's John Crassidis, a former NASA engineer. “And these objects are going fast -- 17,500 miles per hour. There could be very violent collisions."

No repair crews

Even without collisions, satellites fail, chips degrade, parts break.

Special GPU graphics chips used by AI companies, for instance, can become damaged and need to be replaced.

“On Earth, what you would do is send someone down to the data center," said Baiju Bhatt, CEO of Aetherflux, a space-based solar energy company. "You replace the server, you replace the GPU, you’d do some surgery on that thing and you’d slide it back in.”

But no such repair crew exists in orbit, and those GPUs in space could get damaged due to their exposure to high-energy particles from the sun.

Bhatt says one workaround is to overprovision the satellite with extra chips to replace the ones that fail. But that’s an expensive proposition given they are likely to cost tens of thousands of dollars each, and current Starlink satellites only have a lifespan of about five years.

Competition — and leverage

Musk is not alone trying to solve these problems.

A company in Redmond, Washington, called Starcloud, launched a satellite in November carrying a single Nvidia-made AI computer chip to test out how it would fare in space. Google is exploring orbital data centers in a venture it calls Project Suncatcher. And Jeff Bezos’ Blue Origin announced plans in January for a constellation of more than 5,000 satellites to start launching late next year, though its focus has been more on communications than AI.

Still, Musk has an edge: He's got rockets.

Starcloud had to use one of his Falcon rockets to put its chip in space last year. Aetherflux plans to send a set of chips it calls a Galactic Brain to space on a SpaceX rocket later this year. And Google may also need to turn to Musk to get its first two planned prototype satellites off the ground by early next year.

Pierre Lionnet, a research director at the trade association Eurospace, says Musk routinely charges rivals far more than he charges himself —- as much as $20,000 per kilo of payload versus $2,000 internally.

He said Musk’s announcements this week signal that he plans to use that advantage to win this new space race.

“When he says we are going to put these data centers in space, it’s a way of telling the others we will keep these low launch costs for myself,” said Lionnet. “It’s a kind of powerplay.”