Regulatory filings and a redacted will obtained by Bloomberg News revealed the identities of the daughters of Harold Simmons, billionaire and owner of Dallas-based Contran Corp. Contran is a closely-held firm that owns majority stakes in publicly-traded companies Valhi Inc, NL Industries Inc, Kronos Worldwide Inc and CompX International Inc. The four companies collectively have a market capitalization of $6.4 billion.
The patriarch Simmons, who controlled an $8 billion fortune based on the Bloomberg Billionaires Index, awarded Lisa Simmons and Serena Simons Connelly 93.8% of Contran via trusts set up for the benefit of the two women, according to the US Securities and Exchange Commission filings. Based on data compiled by Bloomberg, the holdings are worth $3.8 billion.
Valhi and NL Industries are holding companies for Kronos, which is the third-largest maker of titanium dioxide in the world and desk and ergonomic systems maker CompX.
Meanwhile, Simmons' widow, Annette, received all of the preferred stock of Valhi, which is valued at $667.34 million when liquidated, according to the annual report of the company. The preferred shares, said Bloomberg, receives $40 million in annual dividends.
The will of the late billionaire was redacted according to the sisters' request to seal the public document in January. Dallas probate Michael Miller granted the petition, Bloomberg said.
In a letter to the court on January 30, Connelly's attorney Carrie Huff said, "Like Mrs. Simmons, Ms. Connelly also is very concerned about her and her children's privacy, safety and security if the Court records in Mr. Simmons' estate file are not sealed."
Aside from the Simmons siblings and his widow, various individuals were the beneficiaries of the late billionaire's vast properties, which included ranches in Arkansas and Texas and Dallas Cowboys luxury suite, according to his will. Simmons also ordered to sell his Montecito, California residence, of which Bloomberg said could fetch around $444 million after taxes.
