Billionaire Houston Rockets owner Tilman Fertitta says he did 45,000 workers 'a favor' by laying them off quickly

Texas billionaire Tilman Fertitta claimed he was doing 45,000 members of staff "a favor" by laying them off quickly as the Houston Rockets mogul discussed the impact of the coronavirus crisis on his restaurant and casino empire.

Fertitta, 62, said he was “holding up pretty damn good” when discussing the affects of the Covid-19 on Fox News at the weekend.

“But I’ve got 45,000 employees out there that we’ve had to furlough, which is so tremendously unfortunate,” he added.

But Fertitta, who is estimated to worth $4.8 billion by Forbes, claimed he was actually helping staff by getting them out of the door as early as possible.

“You’re doing your people a favor if you get them furloughed first, because you have them first to the unemployment line after the severance that you give them.

"It’s a trick that I learned many years ago.”

© Reuters / USA TODAY Sports / Troy Taormin

The magnate, who has been dubbed ‘The World’s Richest Restaurateur’ through his Landry’s Inc. eating and hospitality empire, said the US had to get back to work as soon as possible, describing the situation as “like a sci-fi movie you would never believe.”

But his comments on doing staff a favor by sending them to the front of the jobs line did not sit well with many on social media.

Despite Fertitta's claims that he was withstanding the Covid-19 carnage, reports in recent days have suggested that Fertitta is desperately searching for a cash injection to keep his empire afloat, offering to pay 15 percent interest for a "lifetime loan" of $250 million.  

Fetitta bought the Houston Rockets for a record $2.2 billion in 2017. He is also the third cousin of former UFC owners Lorenzo and Frank Fertitta, who sold their stake in the company in a deal worth a reported $4 billion back in 2016.