For those unfamiliar with Fertitta, the man's roots are deep in the Houston area.
Born in Galveston, the 60-year-old is the owner and CEO of locally based Landry's Inc., which holds an impressive portfolio that includes Landry's Seafood and the Kemah Boardwalk. He is also responsible for the redevelopment of the Pleasure Pier in Galveston Island.
Ownership of the Rockets isn't his first foray in professional major league sports. He was one of the original investors of the Houston Texans and his Landry's Inc. holds naming rights of the Crawford Boxes in left field of Minute Maid Park.
Before all of this, though, he first made a mark on the Rockets as the team's director during their championship run in the 1990s.
He is also on the Board of Regents of the University of Houston System. Fertitta attended University of Houston.
His third cousins Lorenzo and Frank Fertitta recently sold the popular UFC fighting organization last year for $4 billion.
Fertitta, who is married and a father of four, has a net worth of $3.1 billion, according to Forbes.
Tilman Fertitta agrees to buy Rockets for reported record $2.2 billion
Report a typo to the ABC13 staff