Rank #1424
Michael S. Smith
Net worth $3.0B
Liquefied natural gas · United States
- Born
- May 09, 1955
- Age
- 71
- Source
- Liquefied natural gas
- Residence
- Miami Beach, Florida
- Citizenship
- United States
- Marital status
- Married
- Children
- 2
- Education
- Drop Out, University of Colorado
Net worth over time
Biography
- Smith raised more than $15 billion in debt to build three giant plants at Freeport, Texas to chill and export 15 million tons per year of liquefied natural gas -- equivalent to 2 billion cubic feet per day.
- He made his first fortune with oil and gas company Basin Exploration, which he sold in 2001 for $428 million.
- Enjoys homes in Miami Beach, Malibu and the Hamptons.
- Freeport LNG was originally envisioned as an LNG import terminal; when the shale gas boom arrived, Smith turned his strategy 180 degrees.
- He majored in chemistry at Colorado State University but dropped out just 6 credits shy of a degree to focus on skiing. Later donated $13 million.