* Dan L. Duncan was born Jan. 2, 1933, and grew up in the East Texas town of Center, near the Louisiana border. He was the son of an oil worker, and his mother died when he was a child.
* After serving in the Army, he learned the oil business from the ground up, working as a semiskilled worker and eventually as an accountant for Wanda Petroleum, a trucking and underground storage company. In 1968, he started his own business, Enterprise Products Partners, with little more than a truck and $10,000.
* Enterprise grew slowly but steadily as a pipeline, processing and storage business. In the late 1990s, Enterprise went public and picked up an empire of assets from other companies that were suffering from low oil prices and financial troubles.
* In 1968 he and a couple of partners co-founded Enterprise Products with one truck and $10,000. He bought out the last partner in 1989, and in 1998 took the company public as a master limited partnership. Never selling shares, he leveraged the cash flow from the pipelines to keep buying and building.
* In 2004 Duncan burst onto the Forbes Rich List for the first time, with a net worth of $4.2 billion. In 2005 he bought the managing partner in control of the Teppco pipeline from Duke Energy for $1.1 billion. That finally led to a buyout of the entire Teppco operation last year. The discovery of massive new natural gas reserves in shale formations like the Eagle Ford and Haynesville have been driving the companies’ growth plans.
* He went on to build a $26 billion company in the part of the natural gas industry known as midstream, between exploration and end-use.
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