Houston billionaire Tilman Fertitta will reportedly resign as CEO of Landry’s Inc. to accept a nomination as the U.S. ambassador to Italy and San Marino under Donald Trump’s administration.
In a letter to the U.S. Office of Government Ethics, Fertitta detailed his plan to step down from leadership roles at the $6 billion Fertitta Entertainment LLC, which encompasses subsidiaries such as Landry’s Inc., the Houston Rockets, and Golden Nugget Casinos.
He stated he would forgo any severance pay but will receive a lump-sum payment from his deferred compensation plan. Despite resigning from active management, Fertitta will retain passive investment interests in these entities.
Regarding the Houston Rockets, Fertitta will maintain ownership but will not reportedly participate in day-to-day operations during his ambassadorial tenure.
Who is Tilman Fertitta?
Tilman Fertitta is a Galveston native and business mogul who owns the Houston Rockets as well as a number of businesses under the umbrella of Landry’s, Inc. These businesses include: Rainforest Cafe, Bubba Gump Shrimp Co., Saltgrass Steak House, McCormick & Schmick’s Seafood & Steaks, and more. Feritta was also a part of the Texas Heart Institue, Rainforest Cafe Friends of the Future Foundation, and University of Houston system, all of which we will also resign from.
For a time there, Fertitta was the one heading the charge to bring an NHL team to Houston but as it came apparent, Dan Friedkin, has reportedly emerged as the leading candidate.
What will Tilman Feritta’s role in government be?
Tilman Fertitta has been nominated by President Donald Trump to serve as the U.S. Ambassador to Italy and San Marino. In this role, Fertitta would be responsible for representing the United States in Italy, overseeing diplomatic relations between the two countries, and promoting American interests.