Parker Schnabel is a young American gold miner best known for his appearances on the popular reality series Gold Rush Alaska on the Discovery Channel and its affiliates.
Although he may be Gold Rush’s youngest cast member, Schnabel’s huge fan base on the show has earned him one of the highest pay of about $10,000 per episode and with the show having about 23 episodes per season, his major salary per seasons is worth over $230,000. His massive success in the mining industry can be attributed to his understanding of dirt and also his family history.
How His Lineage Elevated His Career
Parker Schnabel was born on July 23, 1994, in Haines, to the family of Roger and Nancy Schnabel. Mining was Schnabel’s family business through their company called Big Nugget.
Born and raised in one of the United States’ smallest towns, Haines, in Alaska, Parker grew up with a flair for gold and as a child, he got himself involved in the mining industry and continued with his grandfather, John’s legacy.
His grandfather was the former mayor of Haines, Alaska, a legendary American miner, and a TV star, as well as a major shareholder in the Big Nugget Mine. John Schnabel was born in 1920 to a wheat farmer in Kansas, United States. He died in his sleep on March 18, 2016, at the age of 96 years.
Before his death, John handed over the family business to his grandson Paker in 2011, due to his failing health but after he left the mine to start his own business, John returned to the company and managed it until his death. He was estimated to have a net worth of about $5 million while in his 90’s. He married Erma Dire who died in 2016 at the age of 87. The couple had five children and several grandchildren.
Parker Schnabel Begins To Work in His Family Company
Parker successfully managed his family business, combining it with his other investments and fortune. Though he is not a native to larger metropolitan areas, he lived a quiet and ordinary life and dedicatedly spent his life working the Big Nugget mine.
Instead of getting more education, he used his college fund to set up his own mining operation and as fortune was on his side, he found a huge piece of gold with an impressive measurement of about 1,029 ounces. The gold was worth a total of $1.4 million in his rookie season in the Klondike. This made him the head of a team of miners who were at that time twice his age.
The Launch Of His TV Career
At the age of 16, Parker was already successful in his mining business. This culminated in his appearance in the reality show Gold Rush – airing on Discovery Channel. As the show progresses, Parker became one of the famous TV characters, thanks to his excellent skills all through the series of the show.
Gold Rush remains the Discovery Channel’s breakout hit. After 8 seasons, the show’s cast commands some of the highest salaries on reality television. In fact, the show is now the network’s highest-rated series. While doing this, Parker continued to find different sizes of gold. In the last season, he pulled out gold worth almost 3.7 million dollars.
Money He Has Earned Thus Far
Parker Schnabel’s wealth ambitions are high for his age. He understands the concept of money-making and he is always ready to take risks. Luckily for him, these risks pay off. In one season of Gold Rush, he was able to rake in over $1 million. This continued to increase as the series progresses.
In 2018, there were reports that Parker has mined over $13 million worth of gold since he began his first operation. It was also noted that he had a net worth of about $8 million. The famous gold miner was estimated at $10 million as of 2020.
How Parker Schnabel Spends His Fortune
Although he is earning a huge sum from his mining business and role in the reality show, he is not extravagant. Instead, he carefully invests when the need arises. He doesn’t own a boat, fancy cars, or a fancy house but he has a big expensive sandbox. He is known to invest everything he earns back into his mining operations.
Some of the expenses he incurs include fueling up his cornucopia of big trucks (excavators, slices, and dump trucks) which takes up to $2 million. He has also spent $1.2 million for a Caterpillar bulldozer which may require new parts during one of its seasons.
Recently, he invested a huge sum of $600,000 to build a customized wash plant that will help to speed up his mining work. One time, he noted after mining 4,311 ounces in one season that he was going to spend everything on buying new equipment to improve their operation. He also travels wild in search of fortunes which means more expenditure.
Parker also pays his crew or workers hourly with his main team receiving yearly pay in addition to some bonus. But these amounts are not known.
He Seems To Have An Admirable Romantic Life
Parker is not known to be married. He has remained engrossed in his mining business and had said during an interview with a private media in 2016, that he wasn’t ready to settle down and get married. But in the past, he’s been alleged to be in a relationship with a young Australian girl, Ashley Youle who he seemed to be in love with. The 5 feet 9 inches tall young chap refused to make mention of this affair publicly and seemed to have managed in keeping it low profile.
But recently, during the shootings for the latest season of Gold Rush in Australia where he explored abandoned mines of the country, he sparked romance rumours with his new co-star, Tyler Mahoney. This was after viewers of the show noticed the undeniable chemistry between him and the new lady.
Just like him, Tyler searches shiny gold nuggets and also comes from a family with a long mining history. Specifically, she is the fourth generation of such a family in Australia.
But similar to his other alleged relationship, there’s no confirmation from the two parties and Parker prefers it if people focus on his work rather than his personal life.