Complex sentence: His accumulated wealth and political connections have kept the Mosbacher family as one of Houston's wealthiest and well-known in the affluent River Oaks neighborhood of Houston, Texas.
Split into simpler sentences: His accumulated wealth and political connections have placed the Mosbacher family among Houston's wealthiest and well-known clans. He resided and his family contines to live in the affluent River Oaks neighborhood of Houston, Texas.