Ray Davis Net Worth: Pipeline Mogul and Texas Rangers Co-Owner
Ray Davis is an American businessman with a net worth of $3.1 billion. Alongside fellow billionaire Kelcy Warren, Davis acquired the gas pipeline company, Cornerstone, in 1993. They consolidated a small net of pipelines into an efficient network and created a natural gas retailer, distributor, and pipeline company called Energy Transfer Equity. Although Davis stepped down from his position as Co-Chief Executive in 2007 and left the board in February 2013, he still owns a 6% share in the company.
In 2010, Davis made headlines when he teamed up with Bob Simpson, founder of XTO Energy, to buy the Texas Rangers baseball team for $593 million. Before becoming a co-owner of the team, Davis was primarily known as a low-profile pipeline mogul.
