📌Bonderman estate rocks TPG; MP has MOU with Saudi company; Schwab launches program for RIAs.

Scheduling note: We’ll be taking Friday and Monday off for the Memorial Day holiday. The next edition of 817 Biz will be published Wednesday, May 28.

Just in time for tomorrow's start of the 2025 Charles Schwab Challenge at the home of Hogan’s Alley, Colonial Country Club, comes the book "Ben Hogan, The Lost Collection." Reviewers say it is a treasure trove of images of the golfing legend and is more than just about the first player to really try to understand technique; it is about mental resilience and persistence in the face of adversity. (Images courtesy New Solutions Network and Anthony Ravielli.)

The estate of legendary private equity investor David Bonderman is preparing to sell a huge number of shares in the firm he co-founded. A major stock offering announced by Fort Worth-based TPG will have significant implications for the company's ownership structure and the legacy of one of its founders. The Business Journals have the story.

MP Materials, a large manufacturer in Fort Worth, has signed a Memorandum of Understanding with Saudi Arabian mining company, Maaden, to explore and develop an end-to-end rare earth supply chain in Saudi Arabia. The partnership covers the entire value chain from mining, separation and refining to magnet production.

Fort Worth councilmembers opposed the Tarrant County re-districting plan, 6-4. Mayor Mattie Parker voted with the minority, but said it was because how it was worded.

Charles Schwab is launching a membership program in July to capture more business, and long-term stickiness, from next generation independent registered investment advisors (RIA). Schwab Advisor ProDirect targets advisors in the $50-$300 million range that want to launch and grow an RIA business.

High-speed rail is on life support in Texas. Can a Fort Worth hedge fund save it? Fast Company takes a look. 

In what American Airlines says is not a cost-cutting move, it has eliminated a meal staple because of space in its new, single-aisle planes.  Click here to see what is missing.

Mansfield-based Mouser Electronics released Reduce, Reuse, Reimagine Tech, the newest installment of its Empowering Innovation Together series. The 3Rs delve into clean technologies that work to improve our environment while providing innovative engineering solutions.

Texas legislators have voted to approve a proposed state constitutional amendment that will allow denial of bail to certain violent suspects. The joint chambers resolution allows judicial officers the discretion to deny bail to defendants charged with murder or capital murder, aggravated kidnapping, aggravated robbery, aggravated sexual assault, indecency with a child, trafficking of persons, and continuous trafficking of persons. Bail may also be withheld for aggravated assault if the person caused serious bodily injury or used a weapon. 

Two Tarrant County non-profits have lost a combined $115,000 in funding as the National Endowment for the Arts rescinds grants previously announced. 

New Haven Companies is leaving the D-FW International Airport sub-market and moving to Parc North Building 3 at 2751 Northern Cross Blvd. in north Fort Worth. New Haven is taking 24,837 square feet in the Class A facility. 

Oil companies want protection as Texas considers allowing treated fracking water released into rivers. The Texas Tribune reports that as the state grapples with a threatened water supply, industry and lawmakers have invested millions in research to clean the toxic backwash for use in for agriculture.

A Ph.D. in Pharmaceutical Sciences, the first offered in D-FW, could be available as early as fall 2026 at The University of North Texas Health Science Center at Fort Worth. The doctoral degree from the university's College of Pharmacy was approved by the UNT System Board of Regents and will go to the Texas Higher Education Coordinating Board and the Southern Association of Colleges and Schools Commission on Colleges for final accreditation approvals.

Southlake-based Sabre announced another multi-year distribution agreement, this one with LIFT, one of South Africa’s fastest-growing airlines.

Despite JPMorgan CEO Jamie Dimon’s skepticism over bitcoin, he confirmed the bank will now let clients buy it through approved channels. The move reflects growing institutional demand, though the bank won’t offer custodial services just yet.

Nearly 60% of Texas business owners say the back-and-forth on tariffs, a tax on imported goods, spurred by President Donald Trump’s recent trade policies, has already harmed their businesses, according to survey results from the Dallas Fed, an arm of the Federal Reserve System.

Snippets:

• George Wendt, who played Norm on 'Cheers' has passed away at 76. The burly, easy-going Chicago native became a staple of living rooms for more than a decade as one of America’s favorite barflies.

• NFL owners voted to permit players to participate in flag football at the 2028 Summer Olympics in Los Angeles.

• It’s not news when Starbucks builds a store. There are 17,000.  However, history was made in Brownsville, where the nation’s first 3D-printed Starbucks officially opened. 

• The newest edition of U.S. News Best States rankings features an Iowa slide, a South Dakota rise and a three-peat at No. 1.

Daily digit: 1-in-8. The approximate number of men who will be diagnosed with prostate cancer.

Announcements:

• TCU: Hires Greg Cox as Executive Director, Office of Government Relations. 

• JPS Health Network: Hires TJ Grassetti as Vice President, Chief Strategy & Business Development Officer.

• George W. Bush Presidential Center: Names Shilo Brooks President and CEO.

• Rally Builds: Appoints Bryan Delgado President/CEO/Partner.

• Kwedar & Co.: Promotes Jessica Pickard to Director of Operations and Callie Ward to Director of Digital Marketing.

• Fort Worth Police: Names Executive Assistant Chief Robert Alldredge Interim Chief. 

• TexasBank: Adds Jeanine Werberig as Tarrant County Retail Market Manager. 

• MarketBeat.com: Responders to survey name Kathryn Farmer, President and CEO of BNSF Railway, among the nation's top female leaders.

• Texas Ballet Theater: Executive director Vanessa Logan will step down June 30 for another position in the Northeast.

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