Houston billionaire businessman Tilman Fertitta will resign as as CEO of Landry’s, Inc., as well as the roughly 600 dining, gaming and entertainment locations the company has grown to include, if confirmed as U.S. Ambassador to Italy and San Marino, he said in a letter to the U.S. Office of Government Ethics, reported the Houston Chronicle.
But Fertitta will not be stepping away from his ownership interest in the Houston Rockets National Basketball Association franchise.
According to Forbes, Fertitta was named the wealthiest person in Houston last year. He was nominated by President Donald Trump to serve as U.S. Ambassador to Italy and San Marino several months later. His nomination was referred to the Senate Committee on Foreign Relations earlier this month, but has yet to receive a hearing.
Fertitta will retain a passive interest in these industries, and receive only passive investment income from the businesses. His letter to the Office of Government Ethics includes a list of the companies from which he is resigning in a separate 12-page appendix.
