Billionaire Businessman Revives Texas Ghost Town

Eighty-one-year-old billionaire John Poindexter, who has no heirs, is making a major investment through his foundation to turn the West Texas ghost town of Shafter into a tourism hub.

Investment Plan for the Ghost Town Shafter

Houston industrialist John Poindexter is channeling a portion of his fortune into Shafter, a town known for silver mining with a steadily declining population. Under projects carried out through the Tidewater and Big Bend Foundation, the town's historical texture is being preserved.

Within the framework of the project, a resort and a living history museum are planned to be built in the region. The buildings to be reconstructed include a saloon, a general store, and a post office.

Population and Income Status in Presidio County

The population decline in Presidio County, Texas, is also confirmed by data. While the population in the region has decreased significantly in recent years, median household income remains at quite low levels.

It is clearly seen in census data that the poverty rate is high in the county and the number of people per square mile is very low.

The Foundation's Financial Status and Properties

Poindexter's foundation has grown its net assets by receiving millions of dollars in contributions in recent years. The foundation is planned to become the legal owner of all these properties in the future.

Among these properties is the 30,000-acre Cibolo Creek Ranch, where Justice Antonin Scalia passed away in 2016.

Local Residents' Views and Future Expectations

David Long, a town resident and water board president, states that the ongoing preservation efforts can attract new people to the region once a reliable water system is established.

Thanks to the restoration of the historic church and other touristic structures, it is aimed to increase interest in the town and revitalize the region.