El Paso businessman Paul Foster’s growing wealth has propelled him to the top of Forbes magazine’s latest list of the world’s billionaires.
He is the only El Paso native on the list.
As of March 10, 2026, Forbes released its latest list, Foster’s net worth was estimated at $4.3 billion, ranking 984th among 3,428 billionaires in the world. He ranked No. 1,141 on the 2025 list, when the number of billionaires was smaller at 3,028.
He has the same wealth as former NBA star Michael Jordan, who is also ranked 984th. There are 14 people on the list ranked 984th.
Forbes’ latest list of billionaires was released just over a week after Foster suffered a high-profile health incident at a FC Juarez Bravos soccer team game in Juarez, Mexico, on February 27. He is a co-owner of the team.
Foster’s spokesperson said in a recent email that Foster “experienced a period of low blood sugar” but is now doing well.
A spokesman said: “Paul’s incident was not serious and he is doing well.”
Foster’s wealth has increased by $1.1 billion since Forbes released its last billionaire list in April 2025. His wealth has grown steadily since 2017, when Forbes estimated his net worth at $1.4 billion.
Part of the reason for his increased wealth may be related to the sale of its oil and gas assets by one of his companies, Franklin Mountain Energy (FME), in late 2024. Foster is one of several partners in the firm that received $1.7 billion in cash and 28.2 million shares in the sale of Houston-based Coterra Energy Inc. Coterra’s shares sold for about $32 per share on the New York Stock Exchange on March 13, up from $25.41 per share in 2024. The sale announcement was made on November 12, 2024.
Most of Foster’s wealth came from the sale of Western Refining Co., the El Paso oil refining company he founded and sold in 2017 for $5.8 billion. Western Petroleum’s El Paso refinery is now owned by Marathon Petroleum Company of Ohio.
Foster also owns substantial real estate, including two downtown skyscrapers and a fountain at Farah Mall in east-central El Paso near the El Paso refinery. He also restored historic buildings in downtown El Paso.
He is also a co-owner of MountainStar Sports Group, which, in addition to Juarez soccer, also owns the El Paso Chihuahua minor league baseball team and the El Paso Locomotive minor league soccer team.
His wife, Alejandra de la Vega-Foster, was a member of the famous de la Vega family of Juárez. She is also a shareholder in MountainStar Sports Group and is involved in other businesses.
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