Early Life and Education
Born in 1954, Michael S. Smith majored in chemistry at Colorado State University but dropped out just six credits shy of a degree to focus on skiing. Later in life, he donated $13 million.
Rise to Success
Smith's career took a pivotal turn when he invested in the LNG sector. He raised over $15 billion in debt to build three giant plants at Freeport, Texas, to chill and export 15 million tons per year of liquefied natural gas. This strategic move allowed Smith to capitalize on the growing international demand for LNG. His venture, Freeport LNG, transformed into a major exporter. He made his first fortune with oil and gas company Basin Exploration, which he sold in 2001 for $428 million.
Key Business Strategies
Smith's business strategy involved identifying market opportunities and making strategic investments. He shifted his focus to LNG exports, capitalizing on the shale gas boom and global energy demands. His ability to secure long-term contracts with key buyers in countries like South Korea and Japan ensured a steady revenue stream for Freeport LNG.
Philanthropy
Information on specific philanthropy amounts could not be found. The search did reveal that Smith donated $13 million to an unspecified cause.
