With the legacy in the last name Parker Schnabel carries, the quest for gold is never over. Discovery Channel reality television audiences would recognize Parker Schnabel from the channel’s Gold Rush TV series. With the show in season 14, Schnabel is currently one of the longest-serving cast members.
A mine boss since season 2, Parker Schnabel is one of the most successful miners on Gold Rush. Schnabel and his team have consistently mined over 7,000 Ozt (troy ounces) every season for the past seasons. Despite occasional mining setbacks, Parker Schnabel has raked quite a fortune over the years. Here’s more on Gold Rush’s Parker Schnabel’s life, gold prospecting career, and net worth.
Parker Schnabel Was Born to Mine Gold
When Gold Rush premiered on Discovery Channel on December 3, 2010, as Gold Rush: Alaska, it was evident that most of the cast had little or no previous placer gold mining experience. Having recently lost their jobs due to the economic downturn, they decided to learn on the job. That cannot be said of Parker Schnabel, whose gold mining career wasn’t borne out of choice but by the family he was born into. Born Parker Russell Schnabel in Haines, Alaska, on July 22, 1994, Schnabel’s mining career began when he was 5.
He had a passion for mining gold after several years of following his grandfather, John Schnabel, and working for years on his mine, Big Nugget Mine. While most 18-year-olds are looking to move away to the big cities, Parker Schnabel had long planned his life chasing gold. Schnabel left home and leased mining grounds in Klondike from the legendary miner Tony Beets. However, it wasn’t entirely a gamble decision as Schnabel had already officially begun his mining activities two years earlier.
Parker Schnabel Has Always Stood Out on Gold Rush
Only a few seasons into Gold Rush, Schnabel quickly became one of the audiences’ favorite miners. Introduced as a guest star in Gold Rush season 1, Schnabel only appeared on the show, providing advice. By season 2, with his grandfather deciding to step down, Schnabel was given the Big Nugget Mine. Schnabel moved to Yukon (Season 4) after exploring all the virgin grounds in the Big Nugget Mine. His grandfather made recurring appearances until his death on March 18, 2016.
However, Parker Schnabel continues to make an impression on audiences for several reasons. Besides his relatively young age, audiences have watched him turn his small claim into a multi-million dollar enterprise. Arguably, Schnabel and his crew are the hardest working crew on Gold Rush, alluding to his grit and determination. As a mine boss, Parker Schnabel’s innovative thinking has led to his crew’s success in new mines. Schnabel once reportedly paid $600,000 for a custom-built wash plant to speed up operations for him and his crew.
Parker Schnabel Spent $15 Million to Acquire Dominion Creek.
Although Parker Schnabel obviously didn’t put all of his money into the payment, decisions like these have set him apart from most of the other mine bosses. Early in Gold Rush season 14, Schnabel was faced with a decision to buy Dominion Creek in Yukon for $15 million or downsize and enjoy his profits so far. Dominion Creek has expansive virgin grounds that could potentially hold about 80,000 ounces of gold. While the $160 million prospects may have been enticing, the gold is buried 40 feet underground. Not only would he be buying the grounds, but he’d also need to invest in new equipment to access the gold nuggets at that depth.
Besides the potential for profits, Schnabel’s decision to acquire Dominion Creek rested on one selfless decision. Schnabel’s mining business hadn’t only been successful but had seen him grow his crew. Most were dependent on him for their livelihood. Downsizing and putting some of them out of their jobs wasn’t a decision he was ready to make. As of the last episode aired in January 2024, Parker Schnabel Has mined a little over 5,000 ounces.
Parker Schnabel’s Net Worth
According to Discovery Channel’s bio on the young mining boss, Parker Schnabel had mined over $13 million worth of gold by the time he was 24. Schnabel reportedly earns $25,000 per episode of Gold Rush. With more than 20 episodes aired yearly, that’s an easy $500,000 (at least) added to his mining income. Although most sources pegg Schnabel’s net worth to $8 million, the miner is obviously worth more than that. Parker Schnabel’s net worth should be at least $10 million with his continued mining success and business expansion. Besides Parker Schnabel, here are the other richest cast members of Gold Rush.
Follow Us
