In a bold move back in 2019, Wright took to social media to promote his oil and gas firm in an unconventional manner: by drinking fracturing fluid from a plastic container. “We’re demonstrating that the biggest energy challenge isn’t toxic chemicals in fracturing fluid,” Wright stated, “but the fact that so many lack access to energy for a long, healthy, and wonderful life.”

Energy, particularly fracking, has undeniably provided Wright with a “wonderful life,” as he capitalized on various companies while downplaying climate change concerns. Wright previously headed liberty Energy, a publicly traded company, until Donald Trump appointed him secretary of Energy. He entered the position with an estimated $100 million fortune, placing him among the wealthiest cabinet members, alongside figures like Howard Lutnick, Linda McMahon, Scott Besent, and Doug burgum.

Born in New Jersey and raised in Denver, Colorado, Wright pursued mechanical and electrical engineering at the Massachusetts institute of Technology (MIT) and the University of California, Berkeley. In 1992, at just 27, he established Pinnacle Technologies, a company specializing in hydraulic fracture mapping technology to measure underground fracture growth.

His timing coincided perfectly with the fracking revolution in the United States.Around 2000, while still CEO of Pinnacle, Wright also became president of Stud energy, a shale gas producer based in Fort Worth, Texas.In 2002,he profited from Pinnacle’s acquisition by Carbo Ceramics,netting Wright approximately $9 million in cash and shares. Four years later, Range Resources acquired Stud for around $450 million, earning Wright tens of millions and a sabbatical.

Wright took a break from the oil and gas industry after the Stud deal and his departure as Pinnacle’s CEO in 2006. “I went from two jobs to none, and I thought, ‘this is great,'” Wright recalled.”I coached my kids’ football, basketball, and baseball teams. I participated in some bicycle races.” During this period,Wright acquired property in Big Sky,Montana,building a home in the exclusive Yellowstone Club,frequented by figures like Mark Zuckerberg and Tom Brady.

After a few years of respite, Wright re-entered the oil and gas sector. He reunited with former Pinnacle colleagues and founded Liberty Resources in 2010, relocating from San Francisco to Denver. Initially, he focused on land progress in the Bakken fields of North Dakota. Unsatisfied with fracking service availability, he co-founded Liberty Oilfield Services. As the industry declined between 2014 and 2016, Wright shifted Liberty resources’ focus to services to preserve jobs. “People and culture are the most exciting thing about any business,” Wright stated. “I had never fired anyone in my life and wanted to keep that career alive.”

Wright’s strategic shift proved successful. Despite challenges in 2018 due to sector downturns and the Covid-19 pandemic, Wright intensified efforts and acquired the OSONTIM division of Schlumberger, providing pressure pumping services in the U.S. and canada. In October 2021, Liberty acquired PropX, enhancing its ability to supply and handle proppant, crucial for maintaining rock fracture openings after fluid extraction. The company now generates over $4 billion in annual revenue, a fourfold increase from 2020.

“He is not only extremely intelligent, but also an excellent business leader,” says Waqar Syed, an analyst at Liberty Energy for ATB Capital Markets.”He knows how to turn these great ideas into business ideas and generate income for him and other shareholders.”

Wright served as CEO and president of Liberty from its inception until his move to Washington earlier this year. Upon joining the cabinet, Wright held a 1.6% stake in Liberty Energy, valued at approximately $50 million.Ethical regulations required him to sell his shares shortly after assuming office, a move that proved fortunate. Liberty’s share price has since fallen nearly 40% due to what analysts consider another industry-wide recession. Wright also divested shares in other major energy companies, such as Chevron and Expand Energy, yielding an additional $6 million. He retains minor investments in oil and gas,each valued at under $1 million.

Without significant energy investments, Wright’s most valuable asset is now his mansion in the Yellowstone Club forest, spanning about 15 acres, measuring 9,500 square feet, and valued at an estimated $38 million before debt.Wright also owns properties in the Denver area, totaling approximately $4.5 million before debt,as well as investments in real estate portfolios with properties in the U.S. and Mexico. Other holdings include stakes in Biofire, a private arms manufacturer producing “smart weapons,” and wayfare Tavern, a San Francisco restaurant. However, he is currently focused on his work for the president.

Wright met Trump in April 2024. “It was a fabulous dinner with several leaders of the energy sector in Mar-A-Lago,” Wright told Forbes. “I have met politicians before,and they want to have a slogan and take a photo with you. But he wanted to exchange ideas and talk about energy.” This interaction influenced his decision to accept the position of secretary of Energy. In his new role,Wright,labeled a “climate denialist” by critics but considered a “climate realistic,” appears primarily focused on supporting the industry that made him wealthy. As Fox News reported last month: “More energy is better than less energy. More affordable energy is better than more expensive energy. It is simple common sense.”