How Parker Schnabel Achieved a Net Worth of $8 Million

Parker Schanbel might not be a household to many, but he is well known to reality TV lovers. He has been a regular fixture on the Discovery World Channel for years, making a name for himself on the Gold Rush TV series. Hailing from Haines, a little known town in Alaska, Schabel was born in 1994 and has already amassed a fortune in excess of $8 million. He shows no signs of slowing down either, as he continues to grow in popularity and seems to have a good sense for how he takes care of money. Let us explore some of the ways he has achieved such a sizable net worth in such a short period of time.

His Early Career in Gold Mining

Schnabel benefited from where he grew up. There was actually a gold mine not far from his hometown. So, at a very early age, he was able to begin working at the Big Nugget Mine. Both his grandfather and father were experts in the industry, so it only made sense that he would follow suit. He benefited from their knowledge and was able to gain a great deal of experience early on in life. By the time he was 16 years of age, he was already convinced that he would be doing something with gold for the rest of his life. He convinced his parents to let him use his college savings. With that money, he actually began and financed his own gold mining operation. That is where the money started to pour in. It also gave him the motivation he needed to enter into the reality television business.

Money in Gold

To date, Parker Schnabel has already mined an impressive $13 million in gold. Obviously, this alone helps explain much of his current net worth of $8 million. In 2010, he made his debut on the television show Gold Rush. It has turned into one of the more popular shows on the Discovery World Channel, and filming has already concluded on its 8th season. Parker has been there for all of the episodes.

The show has followed Parker as he has learned the various ways of mining gold. It is amazing to see all of the nuggets he has pulled out of the ground. During the fourth season of the show alone, he and the others on his team were able to pull out over 1,025 ounces of gold. As if that were not enough, the fifth season saw him mine over 3,350 ounces of gold. This was estimated to be worth more than $3.7 million, of which Schnabel received a bit cut.

Schnabel has also recently branched out further into television. He has created a new documentary series that is going to be called Gold Rush: Parker’s Trail. This will detail his journey to this point, and where he sees himself headed in the future. It should be a motivation to people that there is money to be made outdoors, and that a bit of hard work will pay off in the end.

The Bottom Line

Parker got his start in the gold mining business very early in life. He was on an apparent mission to prove that teenagers did not have to wait around to be successful. He was already the director of his own gold mine at the young age of 16. He is already considered to be an expert in the field of gold mining and is regularly sought out for his expertise. He is one of the few in the business who have been able to regularly find large nuggets of gold. He just seems to have a knack for accomplishing that feat.

He once agreed to have an interview on Facebook Live. He answered a variety of questions from fans and other interested people across the country. It was there that he revealed he once found a nugget that was roughly a quarter an ounce. That would make just that one rock worth an estimated $500. Add those up many times over, and you can see where his wealth comes from. He has an uncanny ability to look at a piece of land and know whether or not it is worth digging for gold on. That is instinctual. It is not something that can necessarily be taught, and it is a prime reason that he is already worth $8 million and growing.