Houston can take inspiration from this young professionals workforce development program. Photo via Getty Images

In Appalachia, a region known for its economic highs and lows, CNX is redefining what success looks like for the region. Through its Mentorship Academy, CNX is not just filling jobs, but creating meaningful careers that keep young people rooted in their communities. This program, designed to bridge the gap between education and the workforce, has been a game-changer for students who might otherwise not come across the same opportunities.

For those of us in Houston and across Texas, the CNX Mentorship Academy offers a powerful blueprint that could be replicated in our own communities. The challenges faced by young people in Appalachia — limited career options, economic downturns, and the pressure to leave home in search of better opportunities — are not unique to that region. Here in Texas, particularly in our rural areas and economically challenged neighborhoods, many young people face similar hurdles. But what if we could offer them the same kind of opportunities that CNX is providing in Appalachia?

At a recent graduation event held at PNC Park in Pittsburgh, the impact of the CNX Mentorship Academy was evident. The students who graduated that day were not just receiving diplomas; they were stepping into new careers and brighter futures. These young people, who had once been uncertain about their paths, are now equipped with the skills and confidence to succeed in high-paying jobs within their own communities.

One of the key takeaways from CNX’s approach is the importance of exposure. In many cases, students simply aren’t aware of the opportunities that exist in their own backyard. As industries like coal and automotive have declined in Appalachia, many young people believed their only option was to leave the region or settle for low-paying jobs. The shale revolution, however, has brought new life to the area, particularly in the energy sector. CNX recognized this and decided to use it as a platform to uplift the next generation.

The Mentorship Academy targets students who might not be on the traditional college-bound track. These are the kids who show up to school every day but don’t necessarily have a clear direction. This approach has allowed the program to tap into the potential of students who might otherwise be overlooked.

What truly sets the CNX Mentorship Academy apart is its hands-on approach. The students don’t just learn about career opportunities; they experience them. Whether it’s through site visits, internships, or working directly with mentors from companies like Evolution and CNX, these young people are getting a real taste of what their future could look like. “It's all about exposure. Like, you know, we can pour all the money into the schools you want... but if they don't have the opportunities to actually see it for themselves, experience it for themselves, it doesn't stick,” another speaker emphasized at the event.

The success stories coming out of the CNX Mentorship Academy are inspiring. One graduate, who initially entered the program disengaged and uncertain, has since become one of its biggest advocates. After securing a job with his preferred company, he’s now leading the charge in getting other students involved, showcasing his newfound leadership skills. “You can have multiple dreams... It's just, you know, being willing to take a risk, step outside and try something new,” he said, reflecting on his journey.

For Houston and Texas as a whole, the CNX Mentorship Academy offers a model worth emulating. The program’s success lies not just in its ability to place students in jobs, but in its focus on preparing them for careers that provide stability and growth. By connecting students with local industries and giving them the tools they need to succeed, CNX is helping to ensure that the next generation of workers is both capable and motivated.

The best part? The CNX Mentorship Academy’s blueprint is open-source, designed to be replicated in other regions. “There is no secret sauce. Everything is wide open... So this can be copied and scaled in Colorado or in Texas or anywhere else where you would want to duplicate this,” the program leaders shared.

As Houston continues to grow and evolve, programs like the CNX Mentorship Academy offer a valuable lesson: success isn’t just about getting a job; it’s about building a career and a future that benefits both the individual and the community. By adopting and adapting this model, we can create similar opportunities for our own youth, ensuring that they too have the chance to stay and thrive in their own backyards.

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Julie McLelland is co-founder and head of product at Digital Wildcatters, a Houston-based company creating and cultivating a community for the next generation of energy professionals.

The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year. Photo courtesy of Tesla

Tesla plans to lay off 10 percent of workforce after dismal quarterly sales

making cuts

After reporting dismal first-quarter sales, Tesla is planning to lay off about a tenth of its workforce as it tries to cut costs, multiple media outlets reported Monday.

CEO Elon Musk detailed the plans in a memo sent to employees. The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year.

Musk's memo said that as Tesla prepares for its next phase of growth, “it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” The New York Times and CNBC reported. News of the layoffs was first reported by electric vehicle website Electrek.

Also Monday, two key Tesla executives announced on the social media platform X that they are leaving the company. Andrew Baglino, senior vice president of powertrain and energy engineering, wrote that he had made the decision to leave after 18 years with the company.

Rohan Patel, senior global director of public policy and business development, also wrote on X that he was leaving Tesla, after eight years.

Baglino, who held several top engineering jobs at the company and was chief technology officer, wrote that the decision to leave was difficult. “I loved tackling nearly every problem we solved as a team and feel gratified to have contributed to the mission of accelerating the transition to sustainable energy,” he wrote.

He has no concrete plans beyond spending more time with family and his young children, but wrote that he has difficulty staying still for long.

Musk thanked Baglino in a reply. “Few have contributed as much as you,” he wrote.

Shares of Tesla fell 4.8 percent Monday afternoon, hours after news of the layoffs and departures broke. Shares of Tesla Inc. have lost about one-third of their value so far this year as sales of electric vehicles soften.

Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers. The company said it delivered 386,810 vehicles from January through March, nearly 9 percent below the 423,000 it sold in the same quarter of last year.

Since last year, Tesla has cut prices as much as $20,000 on some models as it faced increasing competition and slowing demand. The price cuts caused used electric vehicle values to drop and clipped Tesla's profit margins.

The company has said it will reveal an autonomous robotaxi at an event in August.

Next week's can't miss event? The Future of Global Energy Conference, hosted in various locations around the Greater Houston area and online. Photo via Getty Images

Can't miss: The Future of Global Energy Conference

ENERGY IS EVERYWHERE

June 7-9 | The Future of Global Energy Conference

To highlight Houston's role in the global energy transition, the Greater Houston Partnership, Houston Energy Transition Initiative, and Center for Houston's Future will host a dynamic three-day conference focusing on the role community engagement, innovation and technology, workforce, and funding play in implementing Houston's energy transition strategy.

Start the series off with a kickoff reception on Wednesday evening at The Ion, located in the heart of the Innovation Corridor in Houston's midtown from 5:30-7:00 PM. Next, keep your carbon footprint low by tuning in virtually to Thursday's multi-session series highlighting Community*, Workforce, Innovation & Tech, and Funding–components necessary to evaluate and blend for an energy-abundant, low-carbon future.

The event concludes Friday with an Innovation Expo, luncheon, and closing reception to further connect organizations, companies, and individuals committed to a more sustainable and equitable energy industry of the future.

Speakers and panelists from the Department of Energy, local public sector, industry, academia, and business/investor community will engage in thoughtful conversations throughout the series. Click here to view the full agenda and register.

*Note: The Community Engagement and Equity virtual session is open for live stream to the public. Please be sure to pre-register for online access.

For a complete list of upcoming energy events, visit the Events tab right here on EnergyCapitalHTX.com.

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World's first fully electric jet to take off in Houston, connect greater metro area

up & away

An aircraft that's being touted as the first fully electric jet is taking off from Hobby Airport to serve the greater Houston area.

Lilium Jet, which takes off and lands vertically, is making its United States market debut at Houston-area facilities – Houston Hobby Airport, Conroe North Houston Regional Airport, and The Woodlands Heliport Lilium. Houston-based aircraft brokerage EMCJET will house the Lilium Jet at its Galaxy FBO Houston-area facilities at the airports.

“We are excited to transform Galaxy FBO into a cutting-edge hub for the eVTOL innovation,” Jeremy Gee, CEO of Galaxy FBO, says in a news release. "As the future of electric aviation takes flight, this marks a significant step in making Houston a leader in sustainable and efficient transportation solutions. Our team is proud to support Lilium's revolutionary mode of travel that will connect Greater Houston in ways never thought possible."

The Lilium Jet is capable of quickly connecting routes like Houston Hobby Airport to Galveston, Houston Spaceport to College Station, The Woodlands to Galveston, and others. The jet is designed for regional travel with its aerodynamic shape. The ducted electric fans prioritize efficiency and speed during forward flight. The jet’s anticipated initial operating range is roughly 110 miles. Lilium aims for the first piloted flight of the Lilium Jet to occur early in 2025.

“Lilium is serious about expanding in the U.S. and actively progressing towards FAA validation,” Lilium’s Vice President of Commercial Americas Matthew Broffman says in a news release.” As part of our commitment to working with communities across the U.S. and expanding our customer base, we’re excited to showcase our aircraft for the first time in Houston, a city with a proud legacy of aerospace innovation in America.”

The Greater Houston Partnership will also host a discussion with industry leaders on how electric aviation can “revolutionize regional travel” according to a news release.

“Houston is home to the world’s leading aerospace companies, and we’re thrilled to welcome Lilium and this next generation of aviation technology,” says Kevin Tipton, senior director for aerospace and aviation at GHP in a news release. “Together, we’re on the brink of something groundbreaking for our region.”

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 Kinderranks 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.

Highlights from the inaugural Houston Energy and Climate Startup Week

the view from heti

Houston has become the hub for startups and companies looking to scale innovative technologies that are transforming the energy industry and advancing a sustainable, low-carbon future. Last month, the inaugural Houston Energy and Climate Startup Week 2024 successfully highlighted this mission.

Rice Alliance for Technology and Entrepreneurship, Halliburton Labs, Greentown Labs, Digital Wildcatters launched the inaugural startup week in collaboration with the Partnership’s Houston Energy Transition Initiative. The week brought together leading energy and climate venture capital investors, industry leaders, and startups from around the world.

Over 30 events took place from September 9-13, featuring more than 100 speakers and 125 startups. Attendance numbers came in at over 1,400 people across the week’s anchor events, and additional events were individually organized by organizations and startups in Houston’s ecosystem.

“By hosting the Houston Energy & Climate Startup Week, we're not just showcasing our city's strengths - we're actively shaping its future. This event is a critical catalyst for fostering collaboration, investment and talent development within the burgeoning energy and climate tech ecosystem. This week is about demonstrating our commitment to that future and inspiring the next generation of energy innovators,” says Janice Tran, Kanin Energy CEO & Co-Founder

The Kickoff event, sponsored by Repsol, Microsoft and BBVA, hosted fireside chats by several of Houston’s leading startups, including Solugen, Cemvita, Kanin Energy and Syzygy.

“Houston is at the forefront of not just energy innovation, but industrial innovation more broadly. With the momentum that's built over the last few years, it's the perfect time to showcase our progress and drive further advancements in climate solutions,” says Gaurab Chakrabarti, Solugen CEO and co-founder.

Houston is home to more than 65 incubators and accelerators and over 260 cleantech and climate tech startups. The region continues to build momentum and is focused on attracting investment for this growing sector, seeing a 577 percent growth since 2019. According to Partnership data, there has been over $1.95 billion and 175 deals with cleantech and climate tech startups.

"Houston is uniquely positioned to tackle the greatest challenge of our time - producing more energy with fewer emissions. This city is where energy innovation scales and opportunity thrives. As a natural hub for startups and investors, Houston brought this to life during Houston Energy and Climate Startup Week. Years in the making, this event was launched to answer the question: Can the whole be greater than the sum of its parts? This past week proved it can. We look forward to continue building on this successful week,” says Jane Stricker, senior vice president at Greater Houston Partnership and executive director of the Houston Energy Transition Initiative.

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This article originally ran on the Greater Houston Partnership's Houston Energy Transition Initiative blog. HETI exists to support Houston's future as an energy leader. For more information about the Houston Energy Transition Initiative, EnergyCapitalHTX's presenting sponsor, visit htxenergytransition.org.