The sometimes controversial Steve Bannon has achieved a net worth of over $10 million. He’s built a career as a strategist using his skills in the US Navy, the world of investment banking, entertainment and the media, and more recently, in politics. Bannon has built a hefty net worth mostly through entertainment, media and real estate investments. Here’s how Steve Bannon achieved a net worth of over $10 million.
Steve Bannon came from humble beginnings. He was born on November 27, 1953 in Norfolk, Virginia into a working class Irish American family. He graduated from Benedictine College Preparatory High School, a private Catholic military school, in 1971. He received a Bachelors Degree in Urban Planning from Virginia Tech and went on to enlist in the Navy. Bannon spent 7 years in the US Navy firsts as a Surface Warfare Officer in the Pacific Fleet and then as the Assistant to the Chief of Naval Operations at the Pentagon. While serving in the US Navy, Bannon earned his Masters Degree at Georgetown University’s School of Foreign Service. He would later receive a Masters in Business Administration at Harvard University.
It was during his service in the US Navy that Steve Bannon’s political beliefs altered. Raised in a staunchly Democratic home, Bannon remained apolitical in his early career. However, after being deployed to the Persian Gulf in 1980, Bannon’s mission during the Iran Hostage Crisis failed and he became staunchly pro-Ronald Reagan and a Republican. This would effect his later career and sometimes cause controversy.
Steve Bannon began an investment baking career with Goldman Sachs and in 1987 was transferred to the company’s Los Angeles Bank where he would eventually become Vice President. In 1990 Bannon formed the group Bannon & Company. This was a sort of “boutique investment firm” specializing in media. It was during his tenure with Bannon & Company that Steve Bannon got involved in the entertainment industry. While representing Westinghouse Electric, Bannon negotiated a deal to sell the company to CNN. In lieu of his fees, he accepted a financial stake in 5 popular television shows. One of these was the popular sitcom “Seinfeld”. Bannon continues to collect royalties every time “Seinfeld” airs in syndication. In addition to his work with Bannon & Company, Steve Bannon was the acting director of Biosphere 2. The project out of Oracle, Arizona had been focusing on space exploration. Under Bannon’s guise from 1993 to 1995 Biosphere 2 switched its research focus to studying climate change, pollution and the Earth’s environment.
Media and Entertainment
During the 1990’s, Steve Bannon’s work with Bannon Company helped him became a part of the entertainment industry. He became involved in film production including work on 1991’s “The Indian Runner” and 1999’s “Titus. In 2002, Bannon partnered with Jeff Kwatinetz to produce films. His work includes a 2004 documentary about Ronald Reagan called “In the Face of Evil”.
Bannon would continue his work in the entertainment industry and would eventually get involved in the world of online media. From 2007 to 2011 Bannon served as CEO of Affinity Media. From 2012 to 2015 he received income working with he tax exempt Government Accountability Institute. He also served as Vice President for Cambridge Analytics. Bannon also became involved in Briebart News LLC. This is an online opinion and commentary site that is conservative with what some argue is ultra right wing. Bannon became the Executive Chair when Briebart News’ founder Andrew Briebart died in 2012. Bannon would leave his position with Briebart temporarily to work on Donald Trump’s Presidential campaign.
The White House
Known for his strategist skills and Republican party affiliation, Steve Bannon was called upon by then Presidential nominee, Donald Trump, to help his campaign. Due to his affiliation with Briebart News, Bannon’s appointment as Chief Executive of Donald Trump’s Presidential campaign was controversial. Following President Trump’s election, Trump appointed Steve Bannon to a created position, Chief Strategist. He would serve the office 7 months before being asked to resign by White House Chief of Staff John F. Kelly. During his service as Chief Strategist, Bannon helped initiate heavier restrictions on travel and heavier immigration laws. At one point a letter was signed and issued by several members of the US Legislature requesting that Bannon’s appointment as Chief Strategist be rescinded.
Bannon came under fire during his tenure as Chief Strategist to President Trump when Michael Wolff’s book “Fire and Fury” was released. Bannon was believed to be a possible leak of White House business to the media. He was said to make controversial and inflammatory statements.
What’s He Doing Now
When he left his role at the White House, Steve Bannon returned to his role at Briebart News. He is currently working in Brussels, Belgium trying to unite Europe’s populist parties. He has also worked as an informal advisor to Brazil’s far right wing Eduardo Bolsonero’s campaign. Steve Bannon remains a controversial political figure. No one can deny he’s had a successful career in the Navy, as an investment banker, in entertainment and media, and in politics which has all helped him achieve more than $10 million in net worth.