Toby Neugebauer Net Worth

Toby Neugebauer has an estimated net worth of $2 billion, according to Forbes World's Billionaires List 2026, Toby Neugebauer profile (figures as of Forbes World's Billionaires List 2026).

Toby Neugebauer is a Texas businessman known for energy investing and data center real estate. He is the CEO and cofounder of Fermi America, an Amarillo-based real estate investment trust. Before that, he built his career in finance and energy. He worked at Kidder, Peabody & Co.'s Natural Resources Group, then co-founded Windrock Capital. In 1998, he also co-founded Quantum Energy Partners, a Houston private equity firm focused on energy.

His wealth comes from energy and data centers, according to Forbes. A major recent step came in January 2025, when he launched Fermi America with Rick Perry and Griffin Perry. The company went public on the Nasdaq 9 months later at a $12.5 billion valuation. Forbes says Neugebauer and his family own a 29% stake. Before Fermi, he was CEO and executive chairman of GloriFi, a fintech startup that later filed for bankruptcy in February 2023.

How Toby Neugebauer built his fortune

Neugebauer made his name in energy finance. After investment banking, he co-founded Quantum Energy Partners in 1998 and served as its managing director. He now sits on its investment committee. Over time, he also held leadership and board roles across a long list of energy companies, including Linn Energy and Legacy Reserves. Those jobs tied his career closely to oil, gas, and private equity, which became the base of his fortune.

More recently, his money story has shifted toward data centers and real estate. In January 2025, he co-founded Fermi America and became CEO. The company is based in Amarillo, Texas, and is structured as a data center real estate investment trust. Fermi plans an 11-gigawatt energy and data center campus on a 5,236-acre site in Amarillo. Forbes notes that Neugebauer and his family own 29% of the business, giving him a large stake in its future.

Forbes net worth and the Fermi America stake

Forbes estimates Toby Neugebauer's net worth at $2 billion on the 2026 World's Billionaires List. That estimate lines up with the fast rise of Fermi America after its launch in 2025. The company reached the public market on the Nasdaq just 9 months after it started, at a $12.5 billion valuation. With a 29% family stake, a big part of Neugebauer's wealth is tied to the value investors placed on Fermi.

His business record also shows how his wealth sources evolved. Earlier in his career, he was tied mainly to energy investing through Quantum Energy Partners and several board roles. He later founded GloriFi, a fintech company, but that venture ended when it filed for bankruptcy in February 2023. Today, the biggest money angle in his profile is the mix of energy and data centers at Fermi America, plus his position as a part-owner of Austin FC.