How much is Parker Schnabel worth?

Net Worth:$8 Million
Profession:Professional TV Personality
Date of Birth:July 22, 1994
Country:United States of America
Height:
1.75 m

Who Is Parker Schnabel

When you were growing up and an adult asked you what you aspired to be when you grew up, did you share that you wanted to be a miner? Although many associate wealth, power, and prestige with medical, law, and political careers they often overlook the mining industry. Parker Schnabel, a hit cast member of the Discovery Channels reality TV show “Gold Rush” and the CEO of “Little Flake Mining Company” did not overlook the mining industry.

An Alaskan native, Schnabel was born into a family of gold miners. John Schnabel, Parker’s grandfather was the owner of “Big Nugget Mine” and served as Parker’s mentor; however, John passed away in 2016 at the age of 96. Upon his death, Parker inherited the family business. Now, at just 25 years old Parker has accumulated a net worth of 8 million dollars, operates two mining businesses, and is a main cast member of a hit reality TV show.

As of 2020, Parker Schnabel has a net worth of $8 million dollars.

How Did Parker Schnabel Get So Rich?

Although Paul was born into a wealthy family business, he truly directed his own path towards success. The United States mining industry generates over $100 billion dollars in revenue each year. Of the 100 billion revenue, approximately $9 billion dollars can be traced back to gold that is mined in 12 different United States. Paul’s grandfather John founded “Big Nugget Mine” in 1984 and soon thereafter was able to mine over 50 ounces of Gold. While this was a tremendous and prosperous achievement for the entire Schnabel family, Paul easily surpassed this benchmark.

SEE  Pat Sajak Net Worth

In 2011, Paul leased land from the mining tycoon Tony Beets and found an impressive 1,029 ounces of gold during his first year. His findings generated him over $1.4 million dollars and put him on the Discovery Channel’s radar. Later that year, he began his career as a cast member on the hit TV show “Gold Rush” which catapulted him towards financial success.

Why Is He So Famous?

At the ripe old age of 5 years old, Parker began his career as a gold miner at his grandfathers’ company “Big Nugget Mine”. When he turned 18, Parker decided to use his college savings to fund his move to the Klondike and invest in a ground lease from Tony Beets. In just under 6 years, Parker mined over $13 million dollars’ worth of gold and gained the attention of the Discovery Channel. In 2011, Parker made his reality TV debut as he aired his attempts of mining “Big Nugget Mine” on the hit TV reality series “Gold Rush”. Now, just 9 years later he has secured his fame and wealth as an Alaskan gold miner.

What Makes Schnabel So Successful?

While most 18-year-olds look forward to investing tremendous amounts of money for continuing education, Paul decided to take a different approach. Instead of using his accumulated college savings to pay for a degree, Paul invested all his money into a land lease in the Klondike. Due to his hard work, determination, and vision Paul regained all his investment, and then some. Now, he owns two gold mines and holds an important role on a hit reality TV show.

SEE  Tyra Banks Net Worth

Although Schnabel generates a heft income each year, you will likely not find him in a fancy car or living in a luxurious home; rather, you will notice him investing more money and time into land. Each year, Paul expands him mining empire which helps him secure another season on “Gold Rush” while also increasing his commodity ownership.

Summing-Up

Although some may be reluctant to throw their life savings into a business model, Paul Schnabel proved that it could result in tremendous success. Being born into a family mining dynasty was simply not enough for Paul. With hard work, dedication, and a vision for success Paul was able to take over the family business while also making it his own. Thanks to his grandfathers hard work and mentorship, Paul was able to reach new levels of success in the gold mining industry. So, the next time you ask someone what they want to be when they grow up – do not be surprised if they say they want to be a miner.

Previous articleMick Mars Net Worth
Next articlePatti Labelle Net Worth
MoneyNet is the team behind the research and fact-checking of our net worth listings. We strive to provide the most up-to-date listings of the wealthiest people in the world from a wide range of industries and professions. If you have a tip, or think that we have something factually incorrect, then please let us know. Aside from that, enjoy learning everything there is to know about the rich and famous.

LEAVE A REPLY

Please enter your comment!
Please enter your name here