Parker Schnabel Net Worth — Check Out His Salary and Earnings from 'Gold Rush'
'Gold Rush' star Parker Schnabel made a name for himself from the reality show, but what about his wealth? Find out all the details about his net worth right here.
Alaska born Parker Schnabel is an American gold miner who rose to prominence after being the part of Discovery Channel's reality TV series, 'Gold Rush'.
Born in Alaska to parents Roger Schnabel and Nancy Schnabel, Parker always seemed to have a thing for gold mining. It might be because he used to spend his childhood summer's in his Big Nugget Mine, which belonged to his grandfather. Surprisingly he took control of the entire factory at the mere age of 16.
Schnabel is particularly obsessed with gold-mining.
Photo Source: Pinterest
Parker was born with a business mind as he preferred to skip college to prioritize his gold mine, despite his mother's judgement. In fact, he used his college fund to expand his Gold mine business furthermore. Ever since joining the Discovery show in its second season, Parker received global exposure that got him more promising opportunities to excel in his firm.
Parker Schnabel Is a Multi-Millionaire
Yes, you heard it right, miner Parker Schnabel is a multi-millionaire. Considering the young age he took over his grandfather's mine, the 25-year-old owns a staggering net worth of $9 million, as of 2020.
Peter Schnabel owns a staggering net worth of $9 million as of 2020.
The primary source of his wealth undoubtedly is quite transparent as the gold he mines. He burnt the midnight oil in a consistent manner, which resulted in the massive success of his firm in the last few years.
In the first year itself, the Schnabel crew mined 34 oz gold valued $55,000. In the last two seasons, Parker's firm finished with 6,280 and 7,427 ounces of gold, valued around $7.5 million and $9 million, respectively. 'Gold Rush' recently completed its tenth season with it's final episode airing on March 6, 2020, and a record total of $10 million the worth in gold.
Parker Schnabel's Earnings From Gold Rush
Originally from a gold-digger family, quite literally, Parker Schnabel became a 'Gold Rush' star with over eight years in the show. Although, the show offers a global platform with the contestant's incentives and exposure, they also pay a certain sum in exchange for their appearance on television.
Parker Schnabel earns around $25,000 on every episode of Gold Rush.
Photo Source: Money Week
Parker, who happened to lose his girlfriend Ashley Youle, possibly due to all the media pressure and hype around him, makes around $25,000 per episode on the show. From the show itself, he earns $500,000 every year, leave alone his earnings from the mining.
Parker Does Not Prefer Fancy Cars or House
Parker Schnabel does not spend his money on big houses or fancy cars.
Photo Source: Discovery
Now, that's a shocker. Contrary to many millionaires, Parker Schnabel does not prefer to spend his hard-earned money on a luxury car or a massive villa. The 'Gold Rush' star displays his business expertise instead, as he reinvests his income instead of making the extra expenditure.
I don't own a boat or any fancy cars or a fancy house. We made some money this season, but it's going right back into the ground.
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Schnabel and his crew mean complete business as they segregate the specific sum of their earnings to buy new pieces of equipment to improve their efficiency. And he doesn't need the fancy items presumably because he spends most of his time of the year in the middle of nowhere in search of gold.
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