Bets he placed on oil and gas 4 years ago now paying off--oil futures and his Pioneer Natural Resources helped earn him $400 million this year. Says he plans to keep money in petroleum even though prices dropping, but last year reduced his stake in offshore contract driller Ensco. Other holdings include Crescent REIT, which pawned off $120 million in Texas office space to General Electric this year. Still holds an estimated $400 million stake in hospital chain HCA. Stanford M.B.A. and former classmate of Sid Bass got start managing Bass family's $50 million portfolio 1970--made his name with large Disney investment 1984. Broke out on his own, and onto Forbes 400, in 1986.

Rainwater is Lebanese both sword and distaff -- from Business Week: http://www.businessweek.com/1998/48/b3606001.htm
"His father--of predominantly Lebanese origin with a touch of Cherokee Indian blood, hence the family name--joined a trading business founded by Rainwater's maternal grandfather, a Lebanese immigrant."

A Texas Monthly article also noted that he "was born into a Lebanese family in Fort Worth."