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The truth about Parker Schnabel’s inheritance

Parker Schnabel’s inheritance:

Introduction

When the Discovery Channel set out to make Gold Rush—and the multitude of spin-off shows that were spawned by its success—they were capitalizing on an American dream: to get rich.

Gold Rush took its name from the 1800s gold mining boom that saw many lucky prospectors strike it rich, and it has stayed true to that name.

Now, though, Gold Rush is focusing on the modern era of gold mining across the globe—an era that can still yield considerable wealth for the lucky few who find success.

With Gold Rush: White Water, Gold: Rush: Dave Turin’s Lost Mine, and our personal favorite—Gold Rush: Parker’s Trail—there is potential for prosperity at every turn.

Amongst those lucky few who have struck it lucky so far are the show’s cast—and specifically Parker Schnabel.

Schnabel was born with the hunger for gold racing through his veins.

He grew up in a gold mining family, earned his spot on his family’s mining crew, and learned his family’s gold mine inside out.

Being the youngest person on the Gold Rush cast to head a mining company—and to lead men up to twice his age to strike gold—makes for interesting viewing for audiences across the US.

But how did Parker end up in his enviable position? Did Parker Schnabel inherit money?

Here’s what we know about Parker Schnabel inheritance in 4 easy steps.

#1. He was born ahead of the game.

Parker Schnabel’s inheritance

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Parker was born on July 22, 1994, in Haines, Alaska.

Not the most hospitable of environments, there was a reason Parker’s family had settled here long before—to strike it rich.

Parker’s grandfather, John Schnabel, was a wealthy man in his own right—he was the owner of Haines’ Big Nugget gold mine.

The elder Schnabel purchased a claim at Porcupine Creek back in 1984.

More than a potentially lucrative spot to mine gold, John also envisioned it as a place to bring his kids in the summers.

He was right about that—his children, and his grandchildren, would return here for decades to come.

It was this mine that served as a backdrop for everything Parker and his brother would learn over the next decade.

John Schnabel had earned a solid reputation as a miner himself, and passed on everything he knew to his eager young grandsons.

When the Schnabel family made their debut on the Discovery Channel’s newest show—Gold Rush—Parker was only 16 years old.

But he was eager.

He made his show debut and demonstrated a strong work ethic and a tenacious attitude—both qualities that endeared him to audiences everywhere.

That popularity saw him return in season 2 of Gold Rush with a permanent slot.

#2. Parker Schnabel inherited the mine from his grandfather.

@Getty

In 2011, John Schnabel entrusted his mining operation at Porcupine Creek to his grandson, Parker.

At the time, Parker was only 16 years old, making this a serious undertaking for the teenager.

Parker was willing to step up and prove himself, though.

He had the support of his family—his father, Roger, was also heavily involved in the mining industry in Alaska, and his grandfather was always on hand to offer support and guidance.

When Parker left Alaska to try his hand—and his crew—at mining in the Klondike area of the Yukon at 18, John stepped in again to run Big Nugget.

READ MORE: Is Nicolle Wallace related to Chris Wallace?

#3. Parker Schnabel used his college fund to pay for his early expeditions.

@Getty

Parker Schnabel has always had a lot to be thankful for—his grandfather’s mine and experience, his parents’ support, his brother’s knowledge, and a show which made him famous.

He also had a college fund that his family had set up when Parker was born in 1994.

That college fund was able to pay for Parker’s early mining projects, since the young go-getter was adamant that he would not be going to college.

In a 2018 interview, Parker speculated that if things panned out [excuse the pun] with gold mining, he could always head to college later—if he changed his mind.

By 2022 he still hadn’t changed his mind. He had, however, amassed a considerable fortune in the pursuit of gold.

READ MORE: Does Parker Schnabel have a girlfriend?

#4. He thinks people have the wrong idea about getting rich in mining.

Parker Schnabel age young

© Guliver / Getty Images

Schnabel has been in the gold mining industry for over a decade now, and he’s learned a lot.

He understands that you need to spend money to make money—something that he has always been pragmatic in accepting.

Despite an impressive accumulation of wealth so far, he knows there are a lot of overheads that go into a mining operation.

“I don’t get to keep all the gold I bring out,” he explains.

High operating costs aside, Parker is also realistic about the peaks and troughs of gold mining.

“There are times when I spend a lot of money, and there are long periods in between strikes. It is what it is.”

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