Milane Duncan Frantz is one of the wealthiest women in America. She is a billionaire heiress to the Duncan family through Enterprise Products, a sizable energy pipeline business that is still operated by the family. Milane has access to most of the luxuries because she comes from an influential family, yet she never takes them for granted and appreciates what she has.
The stunning woman is not just affluent by net worth but also rich at heart. Since she preferably keeps her personal life low-key, several fans are interested to know what she is involved in lately and more about her love life.
5 Facts on World's Richest Family 2021 - Bernard Arnault, The Multi-Billionaire Family
Comes From A Powerful Family
Born in 1970 in Houston, Texas, United States, Milane grew up in a household with business-minded people. She was welcomed into this world by her mother, Barbara Ann Duncan, and her father, Dan L Duncan. Milane Frantz's parents got married in 1958 and, unfortunately, separated in 1971. Dan married Billie Ruth Bearden Duncan in 1974 and Jan Ellis Duncan in 1989 after divorcing Barbara.
Milane's dad co-founded Enterprise Products and served as its chairman and largest shareholder. Enterprise Products, one of the largest traded partnerships, provides services to North American producers and consumers of crude oil, natural gas, natural gas liquids (NGLs), and petrochemicals. Sadly, the businessman passed away in Texas due to a brain hemorrhage on March 28, 2010.
Furthermore, Milane grew up alongside her two sisters, Randa Duncan Williams and Dannine Duncan Avara. Similarly, Scott Duncan is her adoptive brother. While her eldest sister, Randa, is the only one involved in managing the family company, she and her other two siblings have received equal inheritance shares.
Besides, talking about Dan Duncan's daughter's educational background, she attended the University of Houston and earned her Master of Arts degree.
Has A Massive Net Worth Of $7 Billion
The source of Milane Frantz's riches is her inherited stake in Enterprise Products Partners. The firm was started in 1968 with $10,000 and two propane delivery trucks by her late father, Dan. In 1998, the company went public.
By 2010, it held about 220 million barrels' worth of natural gas and natural gas liquids storage space and more than 48,700 miles of onshore and offshore pipelines. Furthermore, Dan, the man behind Enterprise Products, left his fortune to his four children upon his death, and that's how Milane got her share of the wealth.
Milane Frantz's father, Dan Duncan founded the Enterprise Products in 1968. Image Source: Wikimedia Commons.
Milane and her siblings Randa and Scott each inherited a $3 billion share of the enormous family fortune while her sister Dannine Avara got $3.1 billion. Avara was the first American billionaire along with her brother Scott, to have paid no estate tax since the law's enactment. Thanks to a temporary repeal of the estate tax law for the year 2010.
Each stake the Duncan kids now own is worth more than twice. Talking in terms of gross sales, Fortune ranked the company among the top 100 American firms in 2018, and as of October 2022, the company's market value was $54.93 billion.
Since 1998, the Duncan family has acquired more than $8 billion in financial payments from Enterprise. Similarly, the family members own 700 million Enterprise shares in their possession. Each Duncan sibling owns a private stake in the company totaling 175 million shares, or 8% of the corporation. This suggests that when EDP pays its $0.43 quarterly dividend, each of them will receive $75.2 million. That equals $300 million every year.
Milane Frantz's net worth is estimated to be $7 billion, making her one of the richest people in America. Overall, she is also an investor and must lead a luxurious life thanks to her wealth.
Her Husband Has Passed Away
Losing loved ones is never easy, especially when they mean the world to you. But you must let them go with a heavy heart when the time comes. Similar is the case with Milane, who had to bid goodbye to her loving spouse, Matthew Jonathan Frantz.
Her partner, Matthew, passed away on the 4th of September 2014. Milane Frantz's husband was an avid hockey fan and player who enjoyed his position as left wing for the Linden High School Eagles and the Flint Icelanders. He attended Michigan State University and had a Kinesiology degree.
The duo exchanged wedding vows in 2001 in Harris County, Texas. They explored the world together and visited places like New Zealand, Italy, the Caribbean, and even Africa. The pair also welcomed two children together. After Matthew's sad demise, it must have been hard for Milane. Nonetheless, we hope she is living a happy life.
Milane Frantz On Recent Days
The lives of billionaires are frequently glamorous and akin to those of celebrities. Every news piece mentions them and their antics, and you spend time wishing you could live such a luxurious life.
This time, though, we are discussing a personality that might very well have a similar lifestyle but would instead lead a more subdued one. Similar to Dan Duncan's daughter, a wealthy billionaire who favors anonymity. She, therefore, has a very minimal social media presence, and it is practically impossible to trace her to any accounts to contact.
After the sad demise of her partner, Milane has preferred to maintain her personal life low-key. Therefore, it is unknown what Frantz has been doing recently. However, she has been actively involved in philanthropic efforts, and maybe she is continuing to do so. In addition, Frantz is a director of the Duncan Family Foundation and a board member of Houston's Hermann Park Conservancy.
Nonetheless, we hope fans will hear about Milane's professional career in the upcoming days. Our best wishes and good luck follow her way.
