Convenience Big Store: How new Texas billionaire Thomas Powell grew a $6.7B Houston business

April 5, 2026

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Lucas Alvarado, a quality assurance inspector, looks over the distribution switchgear in a custom power control room, Wednesday, May 29, 2013, in Powell Industries factory in Houston. ( Nick de la Torre / Chronicle )

Photo by: Nick De La Torre, Chronicle

How Thomas Powell, one of Texas' newest billionaires, grew a $6.7B Houston manufacturing business.

Powell Industries opened its doors in Houston in 1947 as a metal-working shop.

Today, the company is an industrial powerhouse with 3,000 employees worldwide and three manufacturing facilities in the Houston area. It has been recognized multiple times in the Chronicle 100 as one of the region's top-performing companies.

The company reported $1.1 billion in revenue in fiscal year 2025, its longtime CEO, Thomas Powell, recently became a billionaire, and its stock will split three-for-one on Monday.

So, how did this transformation occur?

Erica Grieder has more on the company's family roots, its shift into electrical infrastructure and its growth into what it is today.

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🏀 Sports

Houston Astros' Christian Walker, center, celebrates in the dugout after scoring during the sixth inning of a baseball game against the Athletics, Saturday, April 4, 2026, in West Sacramento, Calif. (AP Photo/Sara Nevis)

Photo by: Sara Nevis, Associated Press

Astros: One night after a lopsided loss, Houston turned the tables on the Athletics, piling up the hits and baserunners in historic fashion. Plus: Inside Tatsuya Imai's first Astros win.
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Tennis: Tommy Paul and Roman Andres Burruchaga will play in their first U.S. Clay Court Championship title match today after very different semifinal wins.
Dynamo: Paul Rothrock scored the lone goal in the 83rd minute as the visiting Seattle Sounders edged Houston.

🗣️ Opinion

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