$50 Million
What is Michael Wirth’s Net Worth?
Michael Wirth is an American businessman and executive who has a net worth of $50 million. He is perhaps best known for being the chairman and CEO of Chevron Corporation. In a typical year Michael earns around $20 million in total compensation. His base salary is $1.6 million. As of January 2020, he owned 32,000 shares of Chevron.
Michael Wirth was born in 1960. He graduated from the University of Colorado Boulder and was elected to become the chairman of the board and the Chief Executive Officer of the Chevron Corporation in 2017 and assumed the roles in 2018. He previously served as vice chairman of the board in 2017 and as executive vice president of Midstream & Development for Chevron Corporation from 2016 to 2018. Michael Wirth served as the executive vice president of Downstream & Chemicals from 2006 to 2015 after being the president of Global Supply and Trading from 2003 to 2006. He was named the president of Marketing for Chevron’s Asia, Middle East, and Africa business in 2001. Wirth has also been on the board of directors for GS Caltex Corporation and Caltex Australia Limited and has served on boards for Catalyst, the American Petroleum Institute, and the International Business Council of the World Economic Forum.
Biography
Michael K. Wirth, born on October 15, 1960, is an American business leader who currently serves as the chairman and CEO of Chevron Corporation. His career at Chevron has been marked by various roles and responsibilities, leading him to the pinnacle of the company’s leadership.
Early Life
Michael Wirth pursued his education at the University of Colorado after completing high school. In 1982, he graduated with a bachelor’s degree in chemical engineering. During his time at the university, Wirth not only focused on academics but also actively participated in sports, including football and basketball.
Career
Wirth’s journey with Chevron began in 1982 when he joined the company as a design engineer. Over the years, he gained extensive experience in various sectors within Chevron, including engineering, construction, and operations. This diverse background allowed him to develop a comprehensive understanding of the company’s operations.
In 2001, Michael Wirth assumed the role of president of marketing for Chevron’s Asia, Africa, and Middle East region. This position brought him significant responsibilities and challenges in overseeing marketing operations across a vast and diverse geographical area.
Throughout his career, Wirth has also been involved in the boards of directors for companies such as Caltex Australia and GS Caltex, further contributing to his extensive experience in the energy sector.
Wirth’s career reached its zenith in 2018 when he was chosen to succeed John S. Watson as the CEO of Chevron. His appointment as chairman and CEO marked a significant milestone in his career, as he took on the leadership of one of the world’s largest energy corporations.
In addition to his role at Chevron, Michael Wirth is a member of the board of the American Petroleum Institute, a prominent trade group in the oil industry. This position allows him to contribute to the industry’s broader discussions and strategies.
Climate Change Inaction
Under Wirth’s leadership, Chevron has faced scrutiny for its environmental practices. The company has been identified as one of the highest total carbon emitters among private companies globally. Despite these emissions, Chevron has been accused of greenwashing tactics, with the Federal Trade Commission finding the company misleading its customers regarding efforts to reduce greenhouse gas emissions.
During an interview with CNBC’s Jim Cramer, when asked about considering investments in alternative energy, Wirth’s response garnered attention. He stated that Chevron would “go back to our shareholders and let them plant trees.” This response was seen by some as dismissive of the urgency to address climate change.
In 2022, The Guardian newspaper named Michael K. Wirth one of the United States’ top ‘climate villains’ due to Chevron’s alleged greenwashing tactics to downplay the company’s environmental impact.
Personal Life
Michael K. Wirth and his wife have four adult children, and his personal life remains relatively private. He is known for his disciplined routine, including sleeping for less than six hours per night and starting his day with a 90-minute gym session, waking at 3:45 a.m. This dedication to a rigorous schedule reflects his commitment to both his personal health and professional responsibilities.
