Parker Schnabel’s net worth is estimated at $8 million. He is a TV personality who became known as a result of his gold-digging exploits depicted on Discovery Channel’s Gold Rush.
Following the footsteps of his late grandfather, John Schnabel – the founder of Big Nugget Mine, Parker has excavated impressive ounces of gold which run in six figures. His net worth has been a subject of interest to every fan of the aforementioned reality TV series, having that he has never failed to impress on every season.
How Parker Schnabel’s Net Worth Accrued From Gold Rush
At the age of 16, Parker Schnabel took over the day to day operations of the Big Nugget Mine as he began to lead a crew much older than him while still in high school. Upon graduation in 2012, he fully pursued a career as a gold miner and his choice was greatly influenced by his family background.
He moved on to set up his own business using his college fund as he forfeited his studies. Having learned from his grandfather how to pan and operate heavy equipment, Parker Schnabel joined the cast of the reality TV series, Gold Rush in 2011, from season 3 and has been a main cast of the series since then.
In the second season of the series, he made an attempt to mine the Big Nugget Mine alongside his crew and excavated 34 oz of gold which has gram equivalent of 960g, worth about $55,000. Then in 2012, during the next season, the skilled miner returned to the mining site with larger and more efficient equipment which enabled him to dig up to 191 oz earning him over $250,000.
In the fourth season which was premiered in October 2013, Parker and his crew mined 836 oz at the end of the program. He then stayed and continued excavating, and additionally picked 193 oz which brought his total to an impressive record of 1,029 oz, worth $1.4 million. This record broke his fellow miner, Todd Hoffman’s single-season record of 803 oz and also surpassed his entire four-season total.
Parker’s exploit in the fourth season catapulted him to superstardom and it was only a start to the good things coming his way. In October 2015, Gold Rush season 5 was premiered and in that season, the famed TV figure excavated a total of 2,538 oz close to $3 million. He continued his brilliant exploit in the following season where his gold-digging activities landed him about 3,372 oz, worth almost $3.5 million.
In the seventh season which was premiered on 14th October 2016, Parker Schnabel went on to increase his total to over 4,300 oz of gold, earning over $5 million. He then continued to outshine other miners throughout season nine as Todd Hoffman and his crew made their last appearance on the show in the seventh season.
However, season 10 of the series was premiered on 11th October 2019. Parker and his crew have made adequate preparation to ensure they have an incredible season as he has set a record-breaking goal of 6,000 oz, worth $7.2 million. He has obviously made huge money from his gold-digging exploits on Gold Rush which has made a great impact on his net worth over the years and this leads us to the question of what’s Parker Schnabel’s net worth? see the details below.
What’s Parker Schnabel’s Net Worth?
In 2015, Parker Schnabel’s net worth was estimated at $1 million, however, through his outstanding gold-digging endeavors so far, the talented miner has been able to boost his net worth to a reported sum of $8 million as of 2019. Following his work ethic and determination, he became a millionaire in his early 20’s.
Surprisingly, Parker doesn’t spend his hard-earned money on fancy cars. He mostly invests his money back into his business as he normally buys new equipment to improve his operation. Those big excavators and machinery all cost hundreds of thousands of dollars and their repairs also, are in the six-figure range. Instead of fancy cars, he has in his possession a big expensive sandbox and also jet boats which help him to improve his business operations. Aside from the revenue from his gold-digging exploits, Parker Schnabel’s net worth has also been increased by his salary on the series which is reportedly at $25,000 per episode.
The Sources of Parker Schnabel’s Net Worth
- Gold Mining: Parker has been involved in mining since a young age. He took over daily operations of his family’s mining company, Big Nugget, after his grandfather John Schnabel stepped down. Parker has successfully mined over $13 million worth of gold by the age of 24.
- Reality TV: Parker is a prominent figure in the reality TV series, “Gold Rush Alaska”, also known as “Gold Rush”, and its spin-off “Gold Rush: Parker’s Trail”. He has not only starred in these shows but has also worked as a producer. The income from his TV career adds significantly to his net worth.
- Real Estate: Parker owns a sprawling mansion in Alaska that is worth over $950,000. This luxury house with all modern amenities is a considerable part of his assets.
- Other Investments: Parker has been savvy with his earnings and likely has other investments, which might include stocks, bonds, and other financial instruments. Although the specifics are not mentioned in the provided information, it is usual for successful individuals like Parker to have diversified investment portfolios.
- Personal Savings: As a self-professed workaholic, Parker might have significant personal savings resulting from his mining work and television career.
- Trust Fund: Parker tapped into his own college trust fund to finance his mining operation in the Yukon territory. While the current status and worth of this fund are not specified, it has played a role in building his wealth.