Thursday November 02, 2017

Mount Everest to be developed by Texas billionaire

(Getty Images/iStockphoto)

Listen 5:58

The tallest mountain in the world is currently being purchased by American energy billionaire Randal Walton-Yates. This Is That's Pat Kelly spoke on the phone with Walton-Yates to find out more about the impending deal.

"Mount Everest is one of the most iconic pieces of property on Earth," Walton-Yates said. "As the highest point on the planet, it would be a feather in my cap to own it."

But Walton-Yates's interest in Mount Everest isn't strictly egocentric. He plans on developing the mountain to make it more accessible and profitable.

"I see Mount Everest as a property that's being sadly under-utilized," he said.

Walton-Yates intends to update the airport, install rides for kids, and build restaurants and a hotel on the mountain: "I want to make it a family-friendly place. You know, take your Grandma to the top of Everest."

To find out how Walton-Yates is purchasing Mount Everest, what his development plans are, and why he's renaming the iconic mountain, listen to the full story.