Billionaire to Leave Fortune to Texas Ghost Town
Billionaire entrepreneur John B. Poindexter, 81, plans to bequeath the majority of his wealth to the sparsely populated Texas town of Shafter.
Eighty-one-year-old billionaire entrepreneur John B. Poindexter has announced plans to leave the bulk of his fortune to Shafter, Texas, a near-ghost town. Poindexter, who has no wife or children, stated that this was his motivation for the unusual legacy project.
Shafter, located about 40 miles south of Marfa, was historically known for the Presidio Silver Mine. The mine produced over 35 million ounces of silver between 1883 and 1942 before flooding and declining prices ended its operational era.
Currently, Shafter has a population of approximately 25 residents. Poindexter owns about 20 percent of the town's central area. He has initiated the restoration of a dozen historic adobe houses, some of which are available for short-term rentals. A saloon, general store, and post office have also been refurbished.
The initiative aims to revitalize the historic community and its surroundings through Poindexter's substantial bequest.