George P. Mitchell Net Worth

He founded Mitchell Energy & Development Corporation in 1946 and developed the technology to extract natural gas from shale rock. His company was sold to Devon Energy in 2002 for $3.5 billion, making him one of the wealthiest people in the world. George Mitchell was an incredibly successful American oil and gas magnate and real estate developer who had a net worth of $2 billion. He was born in Galveston, Texas in 1991 and is known as the father of natural gas shale grilling. He founded Mitchell Energy & Development Corporation in 1946 and developed the technology to extract natural gas from shale rock. His company was sold to Devon Energy in 2002 for $3.5 billion, making him one of the wealthiest people in the world and cementing his legacy as a successful businessman.
George P. Mitchell is a member of Richest Billionaires

Age, Biography and Wiki

Who is it? Entrepreneur, Businessperson
Birth Day May 21, 1919
Birth Place United States
Age 94 YEARS OLD
Died On 2013
Birth Sign Taurus
Net Worth: $2 Billion
Gender: Male

💰 Net worth: $2 Billion (2024)

Some George P. Mitchell images

Of Greek origin, Mitchell launched the Mitchell Energy & Development Corp. soon after his graduation from Texas A&M University where he gained a BA in Petroleum Engineering. During the 80s and 90s, the energy company carried out many experiments in different techniques of hydraulic fracturing to open the Barnett Shale field. Eventually, it succeeded in finding the right one, and soon, the company introduced a brand new horizontal drilling technology combined with hydraulic fracturing in order to economically extract natural oils from rock formations. Immediately, the technology became a top hit in the US because it made the country less dependent on foreign energy sources.

In 2002, Mitchell sold his energy company to Devon Energy for $3.5 billion, but he remained the major shareholder. Then, he turned to real estate becoming a developer of The Woodlands, a huge community based in the north of Houston that has accommodated more than 97,000 people. Moreover, he and his wife Cynthia had been a part of the revitalization of their hometown of Galveston, and Mitchell had also given about $24 million in renovations of his hotels that were damaged of Hurricane Ike in 2008. Being a great philanthropist, together with his wife, they had founded the Cynthia and George Mitchell Foundation that had donated over $400 million in grants to different programs, institutions and causes. George P. Mitchell died at the age of 94 on July 26, 2013 at his home in Galveston, Texas.