Erik Prince Net Worth: Wealth, Military, and Controversies

May 24, 2024

Erik Prince's Net Worth and Background

Erik Prince's Net Worth and Background

Erik Prince, the founder of Blackwater Worldwide, boasts a net worth of $2 billion. His background includes service as a former US Navy SEAL and author of "Civilian Warriors." Prince's substantial wealth, however, is not solely derived from Blackwater but also inherited from his family's successful automotive accessory company.

Blackwater Worldwide

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Founding and Federal Contracts

Prince established Blackwater Worldwide in 1997, which rapidly grew to become the largest private military company globally. The company has secured over $1.6 billion in federal contracts and $600 million in classified CIA contracts since 2001. Despite facing significant controversies, including the infamous Nisour Square incident in 2007, Blackwater continued to obtain major contracts.

Controversies and Name Changes

In 2007, Blackwater gained international scrutiny following the Nisour Square incident, where several employees were convicted for killing Iraqi civilians. The company was sold in 2010 and rebranded as Academi in 2011.

Early Life and Career

Erik Prince was born in Michigan and has three older siblings, including Betsy DeVos, former U.S. Secretary of Education. He attended the United States Naval Academy but graduated from Hillsdale College with a B.A. in economics. During his early career, Prince worked as a cold-water diver, volunteer firefighter, and emergency medical technician before becoming an officer in the Navy, where he served as a Navy SEAL.

Military and Political Endeavors

Prince’s military career saw him serve in various international deployments until he left the Navy after his father's death in 1995. Blackwater's origins trace back to Prince’s response to the Rwandan genocide, aiming to provide extensive security services for U.S. bases and embassies.

Later Ventures and International Work

After his departure from Blackwater, Prince was involved in CIA operations targeting terrorists and later moved to Abu Dhabi in 2010. There, he helped assemble a battalion of foreign troops for the UAE and trained Somalis for anti-piracy missions. Prince also took on leadership roles as chairman of Frontier Services Group and Frontier Resource Group.

Ties to Trump Campaign and Legal Issues

Category Details
Net Worth $2 billion
Background Founder of Blackwater Worldwide, former US Navy SEAL, author of "Civilian Warriors."
Family Business Inherited wealth from family's successful automotive accessory company.
Blackwater Worldwide Founded in 1997; secured over $1.6 billion in federal contracts and $600 million in classified CIA contracts.
Controversies Notably the Nisour Square incident in 2007; company rebranded as Academi in 2011.
Early Life Born in Michigan; siblings include Betsy DeVos; attended the United States Naval Academy, graduated from Hillsdale College with a B.A. in economics.
Military Career Various international deployments; left the Navy after his father's death in 1995.
International Work Involved in CIA operations; assisted UAE and trained Somalis for anti-piracy missions; roles in Frontier Services Group and Frontier Resource Group.
Ties to Trump Campaign Met with Donald Trump Jr. in 2016; involved in a 2016 Seychelles meeting; recruited former spies to infiltrate organizations opposed to Trump.
Personal Life Married three times with seven children; converted to Catholicism in 1992; significant donor to Republican politicians and Trump’s 2016 campaign.
Philanthropy Involved with Prince Foundation and Freiheit Foundation, supporting conservative Christian causes.

Prince’s associations with the Trump campaign have faced scrutiny. He met with Donald Trump Jr. in 2016 to discuss strategies, including Iran policy and electoral assistance. Additionally, he attended a meeting in the Seychelles for back-channel communications between Trump and Moscow, which led to testimonies that were later found contradictory, resulting in a criminal referral and DOJ investigation. Prince has also been accused of recruiting former spies to infiltrate organizations opposed to Trump.

Personal Life and Philanthropy

Erik Prince has been married three times and has seven children. His first wife, Joan Nicole, passed away from cancer. In 1992, Prince converted to Catholicism and has since been a significant donor to Republican politicians and Trump’s 2016 campaign. Philanthropically, he has been involved with the Prince Foundation and the Freiheit Foundation, which supports conservative Christian causes.

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JJ Sterling
As the co-founder of Urban Splatter and an architecture graduate from Chicago, I thrive on crafting a digital nexus where architectural innovation intersects with boundless digital opportunity. My academic roots in the Windy City's rich architectural tapestry inspire a unique vision for Urban Splatter's journey into the ever-evolving digital frontier of design. Join us as we navigate the exciting confluence of structure, style, and technology.

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