What is Stephen Bechtel, Jr.'s Net Worth?
Stephen Bechtel, Jr. was an influential American heir and entrepreneur with a net worth of $3.8 billion. Born Stephen David Bechtel Jr. on May 10, 1925, he passed away on March 15, 2021. He was a key figure in the third generation of the Bechtel family, one of America's wealthiest families. His grandfather, Warren Bechtel, founded Bechtel Corp., a pivotal construction and engineering firm known for monumental projects like the Channel Tunnel, Hoover Dam, and Jubail.
Early Life and Education
Stephen Bechtel Jr. graduated from Purdue University and earned an MBA from Stanford. He joined the family business in 1948, significantly contributing to its growth and success. By the age of 35, he was the president of Bechtel Corp. In 1973, he ascended to the role of Chairman of the Board, a position he held until his retirement in 1990, when his son, Riley Bechtel, took over.
Philanthropy and Contributions
A dedicated Eagle Scout, Bechtel donated $50 million in 2009 to the Boy Scouts of America, aiding the development of a 10,600-acre reserve in West Virginia, now known as The Summit Bechtel Family National Scout Reserve. Even after stepping down from active roles, he continued his service as a non-executive board member.
Business Ventures and Investments
Bechtel reportedly owned 20% of the company, which generated a profit of $37.9 million in 2012. In April 2013, the company discreetly invested in Planetary Resources, an asteroid mining company, alongside notable figures like Ross Perot Jr. and Google CEO Larry Page.
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