tilman fertitta is drowning in debt: But does the billionaire behind Landry's and the Houston Rockets actually need your cash?
You know that fancy dinner at Morton's or that bag of dirt you bought to grill on—yeah, the one you overpaid for at a Bubba Gump Shrimp Co.? Well, that money might be going to a very specific place: paying down Tilman Fertitta's massive mountain of debt. The "King of Leisure" who owns everything from your favorite steakhouse to the Houston Rockets has seen his personal fortune take a hit as interest rates skyrocket. Why should you care? Because when a guy who owns 60 restaurant chains is sweating his loan payments, it means menu prices are about to go up for you, again. Analysts are watching to see if he’ll have to sell off assets—like the NBA team—to keep his empire afloat. For your wallet, this means no relief at the register. Expect tighter portions, higher "suggested" tips, and more upcharges on your next Pappadeaux dinner. Your dinner tab is literally bailing out a billionaire.