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Houston Billionaire Laid Off 45,000 Employees Quickly As A ‘Favor’

Houston billionaire Tilman Fertitta’s vast portfolio includes ownership of NBA’s Houston Rockets. According to Forbes, his estimated net worth now stands at $4.8 billion, making him at the 44th wealthiest person in the world.

Fertitta told FOX News’ guest host Brian Kilmeade that he laid off 45,000 workers as a ‘favor” to help them access unemployment benefits earlier.

“You know, Brian, I went through the ’87 crisis, the 2000, the 2008,” Fertitta said Saturday on FOX News. “You’re doing the people a favor if you get them furloughed first, because you have them first to unemployment line after the severance that you give them.  It’s a trick that I’ve learned many years ago.”

When Fertitta was asked about how much cash was needed to sustain his empire, he gave Kilmeade a straight-forward breakdown of expenditures.

“This is what people don’t understand, is that we all pay today, yesterday’s bills with today’s money,” Fertitta said.  “And when we just got shut down in a 48-hour period, you still have a payroll and severance, $100 million for me because my payroll is $1.5 billion a year.”


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