Here’s what Parker Schnabel from ‘Gold Rush’ spends millions of dollars on for gold mining.
In 2010, Discovery Channel hit a massive success with Gold Rush (formerly Gold Rush: Alaska), a reality TV series focused on several family-run companies in the gold mining business. Now, 15 years later, Gold Rush has seen miners expand their efforts into Klondike, Yukon, Canada, Oregon, Colorado, and even Guyana in South America, with no less than eight spin-offs. One of those spin-offs, Gold Rush: Parker’s Trail, features Parker Schnabel, the most successful of them all. Having mined over $13 million worth of gold by the age of 24, Schnabel and his crew made $24 million alone in Gold Rush Season 14. So, what does Schnabel do with all that money?
Parker Schnabel of ‘Gold Rush’ Puts His Money Where He Wants
In an interview with People, Schnabel, now 30, revealed what he does with his millions. If you expected him to spend it on a gold-plated Ferrari, a mansion, or even all of Alaska (he is one of the largest landowners in the Klondike, after all), you’d be disappointed to know that he actually doesn’t spend money frivolously. “I don’t even own a house other than the one on the mine, so it’s the exact opposite,” he says. “Right now, I’m living on a friend’s couch in Los Angeles. I’m not even really living here; I’m only here for a few weeks. I don’t really spend much money on material stuff or things like that.”
Instead, Schnabel chooses to spend his money on experiences he can share with his loved ones. For instance, Schnabel took his father to a World Series game (and probably spent on hot dogs and beer). “If I’m going to spend money, it’s on a trip with friends,” he continues, “I try to take our team, the mining crew, on a trip every year and do fun stuff. We had a big hunting trip last year; one year we went to Vegas for three days.” Not every experience needs to be shared, though. Schnabel also travels the world in the winter, including a three-week trip to London in 2023.
Family is Top Priority for Schnabel of ‘Gold Rush’
It’s hard to believe that such a young man, with a fortune most can only dream of, doesn’t splurge on extravagant luxuries. But as you can see, Schnabel is not your typical case. This reflects the values he grew up with, in a family he believes played a significant role in his success—a family that worked hard every day. “I grew up in a family where my great-grandfather came to Alaska, my grandmother came with him in 1937, my dad was born here, and all three had to hustle to survive,” he shares, explaining the environment in which he was raised, adding that his father, at 69, still wakes up and “goes to work at 4:30 every morning.”
Schnabel is deeply connected to his family history and recalls a summer he spent with his grandfather at the mine. “He made dinner for me every night. Every night we’d sit down together, and he’d spend time—basically, he had an unreal memory,” Schnabel recalls. During that summer, his grandfather told him the entire story of the family’s history from the beginning until today, adding, “It was one of the most special things.”
The Golden Legacy of Bering Sea Gold
One of Schnabel’s biggest regrets is that those memories were never recorded. That alone says a lot about Schnabel as a man. He has money that most of us can only dream of, but the one thing he regrets is something money can’t buy—his past. Money is fleeting, and even a success story like Schnabel’s knows how fortunes can change, especially after Season 15 of Gold Rush, where Schnabel endured failure after failure. No matter what, he has proven time and again that hard work always beats luck, so don’t be surprised if Season 16 sees Schnabel filling his pockets even more.
