Jeffrey Skilling – Net Worth 2024, Biography, Personal Life, Professional Life and Everything

Jeffrey Skilling – Net Worth 2024, Biography, Personal Life, Professional Life and Everything

Jeffrey Skilling is an American businessman best known for being the former CEO of Enron Corporation. He was convicted of felony charges related to this. Skilling served as CEO of Enron from February 2001 to August 2001; during that time, he was one of the highest-paid CEOs in the world. In December 2001, Enron filed for the most significant corporate bankruptcy.

Skilling was charged with 35 counts of crimes related to the Enron scandal. He was sentenced to 24 years in prison and fined $45 million. He was released from custody after serving 12 years in 2019.

This article will explore Jeffrey Skilling’s net worth, personal life, professional life, and more.

Jeffrey Skilling Personal Details
Real Name	Jeffrey Keith Skilling
Profession	Former CEO of Enron Former Partner at McKinsey & Company
Date of Birth	November 25, 1953
Age	70 years
Birth Place	Pittsburgh, Pennsylvania, U.S.
Parents	Betty Skilling, Thomas Ethelbert Skilling, Jr.
Spouse	Susan Long ​(div. 1997)​ Rebecca Carter ​(m. 2002)
Children	3
Siblings	Tom Skilling
Networth	Estimated $500 thousand

Net Worth 2024

Skilling’s net worth is estimated to be around $500 thousand. He was one of the highest-paid people who served as CEO of Enron. At that time, he earned over $130 million, including salary and bonuses. After quitting his position at Enron, he sold his shares worth $60 million in the company.

Shortly after that, Enron filed for bankruptcy in December 2001. In February 2004, Skilling was charged with 35 counts of felony related to the Enron Scandal, and the SEC sued him for $90 million for fraud and insider trading. Eventually, he was sentenced to 24 years in prison with a fine of $45 million.

He reportedly spent $70 million on his lawsuits and appeals and around $23 million on his defense lawyers.

Early Life

Skilling was born on November 25, 1953, in Pittsburgh, Pennsylvania, the second of four children of Betty and Thomas Ethelbert Skilling, Jr. His father worked as a sales manager at an Illinois valve company.

He spent his childhood in New Jersey and Aurora, Illinois. He graduated from West Aurora High School and received a scholarship to continue his education at Southern Methodist University in Texas.

After graduating in 1975, he was a corporate planner for First City Bancorporation of Houston, Texas. In 1977, he quit his job and attended Harvard Business School, where he earned his MBA in 1979. 

Professional Career

After graduating, Skilling worked as a consultant for McKinsey & Company, eventually becoming one of the youngest partners in that company’s history. He then joined Enron in 1987 and impressed Kenneth Lay. Lay hired him as chairman and chief executive officer of Enron Finance Corp. Later, in 1991, he was appointed chairman of Enron Gas Services Co.

In 1997, he was promoted to president and COO of Enron. Skilling’s idea that the company didn’t need any “asset,” which was aimed at promoting its aggressive investment strategy, helped Enron trade $27 billion in a quarter, and it became the largest wholesaler of gas and electricity. In February 2001, he became the CEO of Enron by replacing Lay. He resigned six months later, citing personal reasons, and soon after, he sold his company shares.

Legal proceedings and Imprisonment

Enron filed for bankruptcy in December 2001, and many of its employees lost their savings and billions. In 2004, Skilling was charged with 35 counts of fraud, insider trading, and other crimes related to the Enron scandal.

He surrendered to the FBI but pleaded not guilty. In 2006, the jury found Skilling guilty of one count of conspiracy and insider trading, five counts of making false statements to auditors, and twelve counts of security fraud.

He was sentenced to 24 years in prison and began his sentence in December 2006 until 2018 at the Montgomery Federal Prison Camp, Maxwell Air Force Base, Alabama.

Personal Life

Skilling married Susan Long, and the couple share a daughter and two sons. They got separated in 1997. He then married Rebecca Carter in 2002, who served as a former vice president for the board communications and board secretary at Enron.