Michael Wirth Biography & Net Worth

Michael Wirth Biography & Net Worth

Michael Wirth is an American Entrepreneur and businessman, most notable as the current Chief Executive Officer of Chevron Corporation. He replaced John S. Watson and started the position in 2017 after previously serving as the company’s vice chairman of the board of directors. Here’s everything there is to know concerning Michael Wirth net worth and achievements as a successful businessman.

Michael Wirth’s Early Life

Mike was born and raised in the United States. He was born to a middle class family in the year 1961, and was raised according to the morals and values believed by the members of his family. While there is very little to no information about this section of his life, Michael experienced quality education in prestigious academic institutions and graduated with amazing results. He attended the University of Colorado where earned a bachelor’s degree in chemical engineering in 1982. Upon completing his studies, he joined Chevron as a design engineer in the same year of his graduation.

Michael Wirth’s Career

It was in the year 1982 that Michael Wirth joined chevron and worked in different sectors of the company, including operations, construction, and engineering. In 2001, he was made the president of marketing for the company’s Middle East, Africa and Asia regions.

Michael was also a board of directors member for GS Caltex Corporation and Caltex Australia Limited. He assumed roles of Chief Executive Officer and chairman of the board of Chevron Corporation in February 2018 after being elected to these positions in September 2017 by Chevron’s board of directors. Before being elected to these positions, he served as the executive vice president of Midstream and Development for Chevron Corporation from 2016 – 2018, and as vice chairman of the board in 2017. In his role as executive vice president of Midstream and Development, his main responsibilities were supply and trading, power operating units, shipping, and pipeline, as well as business development; corporate strategy; and policy, government and public affairs.

Wirth was the president of Global supply & Trading for three years from 2003 to 2006. He left this position and was installed as executive vice president of Downstream & Chemicals for nine years starting from 2006 to 2015. In 2001, he was named president of Marketing for Chevron’s Africa, Asia, and Middle East business based in Singapore. He was also a board of directors member for GS Caltex Corporation in South Korea and Caltex Australia Limited.

What does Chevron do?

Chevron Corp. is a company that is focused in providing financial management, administrative and technology support for chemical and energy operations. It carries out its operations through the Downstream and Upstream segments. The Downstream segment comprises refining crude oil into petroleum products; marketing of crude oil and the products that have been refined; transporting of crude oil and the refined products by rail car, pipeline, motor equipment, and marine vessel; and manufacturing and marketing commodity petrochemicals, fuel and lubricant additives, and plastics for industrial uses. The Upstream segment consists of exploration, development, and manufacture of natural gas and crude oil; liquefaction, transportation, and regasification concerned with liquefied natural gas; transportation of crude oil by international oil export pipelines; storage, processing, transporting, and marketing of natural gas; and a gas-to-liquids plant. The company, Chevron Corporation was founded in 1906. It has its Headquarters in San Ramon, California, United States.

In the last seventeen years, insiders at Chevron Corp. have traded more than $1.8 million worth of Chevron stock and has bought 209,134 units worth $22 million. Some of the most active insiders traders include Inge G Thulin, Kevin W Sharer, and
Alexander B Jr Cummings. On average, executives and independent directors at Chevron trade stock every 25 days, with the average trade valued at $2.5 million. Pierre R Breber executed the most recent stock trade when he traded 5,000 units of CVX stock now worth $458,900 on 2 May 2020.

Awards & Achievements

Michael serves on the board of directors and executive committee of American Petroleum Institute, the board of directors of Catalyst, and executive committee of the International Business Council of the World Economic Forum. He is also a member of the national petroleum council, the business council, the American society of corporate executives, and the business roundtable. Holding these strategic positions in top organisations just shows that Michael Wirth is more than a businessman, but a leader with great leadership attributes capable of spearheading projects and firms, leading to great accomplishments.

Personal Life

The 59-year old Chief Executive Officer subjects himself to a life of physical fitness. Even at his age, he is still saddled with the responsibility of leading many groups and taking charge of various offices. He is capable of doing so well in most spheres of his life simply because he cares nothing just for businesses and wealth, but also for his own well-being. He currently weighs 74kg and stands at a height of 171cm. He maintains a good exercise plan too. This is not only good for his physical appearance but also for his mental health as well.

Michael Wirth Net Worth

Mr. Wirth owns more than 67,500 units of Chevron stock said to be worth more than $5.8 million, and over the last 14 years, he sold CVX stock that is worth many millions of dollars. Additionally, Michael’s positions as Chief Executive Officer and chairman of the board at chevron makes him entitled to $33 million. He has made more than 17 trades of stock at Chevron since 2012. This information is according to a form filled by SEC. Most recently, on 6 January to be more precise, he exercised 67,500 units of CVX stock that is worth $4.9 million. The most trade he has ever made was exercising 130,000 units of stock on 7 May 2018. The stock units was worth more than $9 million. On average, Michael trades around 18,240 units every eight weeks since 2006.

On Michael Wirth’s salary, the Chief Executive Officer and Chairman of the board earns a total of $30 million as compensation from chevron. There are no executives at the company getting paid more.

American businessman and Chief Executive Officer Michael Wirth net worth is $55 million. In a typical year, he bags over $20 million in compensation, while his base salary is $1.6 million. As of 2020, he owns more than 32,000 shares of Chevron.