officially filed. On January 4, 1996, Moncrief and Montex settled with the IRS by agreeing to pay $23 million "for deficiencies in income, excise and gift taxes for taxable periods from Jan. 1, 1989, through Aug. 31, 1994." In 1998, Moncrief gave testimony before the Senate Finance Committee regarding the IRS raid on his offices: In my imagination, federal raids were always confined to Mafia bosses and drug lords. If you had told me that 64 IRS agents would storm my office, with sidearms holstered and boot heels trampling my civil rights and my business reputation, I wouldn't have believed you. In 1995, Forbes estimated Moncrief's personal wealth at US$500 million. In 2006, his wealth was estimated at US$1 billion. In January 2006, Moncrief sank his first wells in the Barnett Shale natural gas field. In September 2009, Moncrief bought a 10% stake in McMoRan Exploration Co.'s Davy Jones oil well off the Louisiana coast. Throughout his career, Moncrief strictly adhered to rules originally held by his father, to operate only through sole proprietorships and never go public. Philanthropy The Moncrief family, based for decades in Fort Worth, were known locally for their "civic pride and charitable generosity." Moncrief himself had long been a philanthropic supporter of the University of Texas, where he graduated and later served on the Board of Regents. He donated more than $27 million to the university. In 1997, the W.A. "Tex" Moncrief Jr.-V.F. "Doc" Neuhaus Athletic Center was named in his honour. Moncrief was also noted for his patronage of Texas Christian University. He often supported conservative causes, and backed Ross Perot's 1992 Presidential bid. Personal life and death In 1998, Moncrief had four surviving sons from two marriages: William, Richard, Charlie and Tom. By 2006, Moncrief was married for a third time with five surviving children. Two additional children died young: son John Herbert was killed in a motorcycle accident, and daughter Monty Francine died from leukemia at age seven or eight. By 2014, Moncrief was widowed. In a 1998 article for FW Weekly, journalist P. A. Humphrey reported that family members, former employees and acquaintances had variously described Moncrief as "arrogant, controlling, opinionated, short-tempered, headstrong, [and] unyielding." Moncrief was a founding member of the Shady Oaks Country Club in Fort Worth, Texas, and a close friend of professional golfer Ben Hogan. He was the uncle of Mike Moncrief, mayor of Fort Worth from