Energy Secretary Chris Wright's Net Worth Unveiled
Chris Wright: A Pragmatic Energy Secretary with a Background in Oil and Gas
Chris Wright, currently serving as the U.S. Energy Secretary under the Trump administration, is known for his pragmatic stance on climate and energy policy. Despite acknowledging the reality of climate change, Wright criticizes what he considers exaggerated or politicized portrayals of climate science.
Wright's career in the oil and gas industry began in 1992 when he founded Pinnacle Technologies, a company that developed hydraulic fracture mapping technology. His success in the industry led to significant financial gains, with estimates suggesting he earned approximately $9 million when Carbo Ceramics bought Pinnacle in 2002.
In 2000, Wright became the chairman of Stroud Energy, a shale-gas production company. Stroud was later acquired by Range Resources for about $450 million in 2006, making Wright tens of millions. Wright's oil-and-gas ventures continued to grow, and he also bought the OneStim business from oil-and-gas giant Schlumberger in 2021, providing pressure pumping services in the U.S. and Canada.
However, Wright's energy company, Liberty Energy, faced challenges during industry downturns and the COVID-19 pandemic in 2018. Despite these setbacks, Liberty has since seen a significant increase in revenue, with annual earnings now exceeding $4 billion—four times as much as in 2020.
Wright's tenure as CEO and chairman of Liberty Energy ended earlier this year when he was appointed as the secretary of energy by Donald Trump. At the time, Wright held a 1.6% stake in Liberty Energy worth roughly $50 million. He has since divested shares of other major energy companies, including Chevron and Expand Energy, earning him an additional $6 million.
Wright's most valuable holding is now his woodland mansion in the exclusive Yellowstone Club, a private ski resort in Big Sky, Montana. The property, which he bought in 2005, is estimated to be worth around $38 million before debt.
Wright, often referred to as a "climate denier," sees himself as a "climate realist." He has been criticized for downplaying the threat of climate change while running Liberty Energy and for marketing his company in an unorthodox way by drinking fracking fluid in 2019. However, Wright has commissioned a new climate assessment report authored by a diverse group of experts, including some known for skeptical views toward mainstream climate science, aiming for open, transparent debate around climate impacts specifically related to the U.S.
Wright studied mechanical and electrical engineering at MIT and UC Berkeley, providing him with a strong technical background in the energy sector. As the U.S. Energy Secretary, Wright's pragmatic approach to climate and energy policy continues to shape the nation's energy landscape.
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