Forbes has released its 2024 ranking of the nation’s top private companies, featuring seven distinguished businesses from Houston. At the forefront is Calpine, a leading energy generator and supplier. Calpine ranks as the 32nd largest private company in the United States, boasting an impressive annual revenue of $13.7 billion for the fiscal year ending September 30, 2024. The company, which employs approximately 2,400 people, is currently planning several new natural gas plants in Texas, along with significant carbon capture and storage projects.
The Friedkin Group closely follows as the second-largest private company in Houston and 34th nationwide. Under the leadership of billionaire Dan Friedkin, the company has expanded far beyond its original foundation in Gulf States Toyota Distributors. Since Friedkin assumed the role of CEO in 1995, the group has diversified its portfolio to include interests in sports, travel, and entertainment. For the fiscal year ending September 24, 2024, The Friedkin Group reported $13.3 billion in revenue and employs 11,400 people.
This year, Forbes’ prestigious list encompasses 275 companies, with a minimum revenue threshold of $2 billion required for inclusion. The companies are ranked based on their revenue from the most recently completed fiscal year. Notably, San Antonio-based H-E-B emerges as the largest privately held company in Texas, ranking fifth nationwide with an impressive $46.5 billion in revenue for the past year.
Beyond Calpine and The Friedkin Group, five other Houston companies have made their mark on the list. Fertitta Entertainment, led by entrepreneur Tilman Fertitta, claims the 140th spot with $4.9 billion in revenue. Tauber Oil, which specializes in the distribution of petroleum and petrochemical products, is ranked 188th, reporting $3.3 billion in revenue.
Two prominent Houston-based homebuilders also feature prominently on the list. David Weekley Homes, a leader in the residential construction industry, ranks 198th with $3.1 billion in revenue. Meanwhile, Perry Homes, appearing for the first time on the list, is ranked 242nd with $2.4 billion in revenue. Rounding out Houston’s representation is BMC Software, an information services company, which holds the 266th spot with $2 billion in revenue.
Forbes emphasizes the strategic benefits of remaining privately held, noting that most of these companies have no plans to go public. They enjoy freedom from the pressures of quarterly earnings reporting and reduced obligations under Sarbanes-Oxley compliance requirements. This autonomy allows them to focus on long-term growth and strategic initiatives without the constraints of public market scrutiny.
