Businessman

Erik Prince Net Worth: How Rich is the Businessman Actually?

Published

3 years ago

October 28, 2021

Xavier

Erik Prince is an American businessman and a former U. S. Navy SEAL Officer. He is the founder of the private military company, Blackwater USA now known as Academi. Erik served as the CEO of the company until 2009. As of 2022, Erik Prince net worth is estimated to be roughly $2 billion.

Erik Prince is reportedly charging $6,500 per ticket for the flights on a chartered plane that would take the passengers out of Kabul, Afghanistan.

Full Name	Erik Prince
Birth Date	June 6, 1969
Birth Place	Holland, Michigan, U. S.
Profession	Founder of Blackwater USA, Military defense contractor
Wife	Stacy DeLuke
Net Worth	$2 billion

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Early life

Erik Prince was born on the 6th of June, 1969 in Holland, Michigan, United States. He was born as the youngest kid of his parents, Edgar D. Prince, and Elsa. His father was a businessman who founded the Prince Corporation. Along with his father, he went on a world tour together where he visited the battlefields of Normandy and the Dachau concentration camp in Germany.

Prince’s elder sister, Betsy DeVos has served as the United States Secretary of Education. For his high school education, he studied at Holland Christian High School. He has attended the United States Naval Academy for three semesters. Then, he joined Hillsdale college in 1992, where he earned a Bachelor’s degree in economics.

While studying in Hillsdale, Price worked for the Hillsdale County Sheriff’s department as a volunteer firefighter and cold-water diver. Later on, he became an emergency medical technician. After few years in 1990, he started working as an intern in the White House under former President, George W. Bush. In 1992, after he finished college, he was commissioned as a United States Navy officer.

Erik Prince Net Worth & Career

Prince became a Navy SEAL in a short time, and he was deployed to Haiti with the SEAL Team 8. In 1995, he ended his U. S. Navy service prematurely, and shift his place to Virginia Beach. In 1997, he formed the private military company, Blackwater Worldwide. The company received $2 billion from 1997 to 2010 from the government security contracts. Blackwater soon became the largest private security company which provided 987 guards for the embassies and bases abroad.

In 2009, Prince’s company, Blackwater went on to lose a $1 billion contract after the Blackwater employees killed 17 Iraqi civilians and seriously wounded more than 20 people in Baghdad. He lost the contract to protect the American diplomatic personnel after the Iraqi government refused to renew Blackwater’s operating license.

Prince was working as the CEO of the company, but he resigned from his post on March 2, 2009. Though, he still remained as a chairman of the board until late 2010 before the company was sold off to a group of investors. In 2010, he moved to Abu Dhabi after being hired by Abu Dhabi’s crown prince. There, he helped UAE found a company, Reflex Responses.

Erik led the private equity firm named Frontier Resource Group until April 13, 2021. He was also the chairman of the Chinese-African security aviation company, Frontier Services Group Ltd. Prince made a proposal worth $80 million deal to Khalifa Haftar in April 2019, where he was responsible to supply aircraft and other military equipment. However, in June 2019, the project was canceled.

Prince is recently in a headline after the news came out that he is planning to charge $6,500 per seat from the passengers who are taking a chartered evacuation flight from Kabul, Afghanistan. Prince further revealed that the charge would cover the expenses from an entry to the airport, and the flight out. The passengers have to pay more if they need to transport to the airport from within the capital city.

Erik Prince Personal Life

Erik Prince has been married three times. First, he tied the knot with Joan Nicole in 1991. He had four kids from his first wife, Joan, who died of cancer in 2003. In 2004, he got married to Joanna Ruth Houck. Joanna was his children’s nanny with whom he started having affair when his wife was dying.

Prince separated with Joanna in 2012 and then got married to a former Blackwater spokesperson, Stacy DeLuke. Prince has a total of seven children from his three marriages.