M ichael S. Smith is an American energy tycoon and the founder, chairman, and CEO of Freeport LNG. He began his career in the oil and gas industry in the late 1970s, founding Basin Exploration, which he later sold for over $400 million. In 2002, he founded Freeport LNG with the initial vision of building an import terminal on Quintana Island, Texas. However, with the advent of the U.S. shale gas boom, Smith pivoted the company's strategy to become a major exporter of liquefied natural gas (LNG).
Smith raised billions in capital to construct massive liquefaction trains, positioning Freeport LNG as a critical player in the global energy market. Despite operational challenges, including a major fire in 2022 that temporarily shut down the facility, the company remains one of the largest LNG exporters in the U.S. Smith retains a controlling interest in the privately held company. He is also known for his high-profile real estate investments in Malibu and Florida.
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Michael S. Smith is an American businessman, the self-made billionaire Founder and CEO of Freeport LNG, one of the largest liquefied natural gas (LNG) export facilities in the United States.
He made his first fortune with the oil and gas company Basin Exploration, which he sold in 2001 for $428 million. His foresight into the US shale gas boom led him to strategically pivot his operations.
Michael S. Smith's career is marked by shrewd strategic timing in the energy sector. After selling Basin Exploration, he launched Freeport LNG, originally envisioning it as an LNG import terminal. When the shale gas boom arrived, Smith brilliantly reversed his strategy 180 degrees to create an export facility.
He successfully raised more than $15 billion in debt to build three giant plants at Freeport, Texas, which chill and export 15 million tons per year of LNG. His structural contribution is immense, creating a major piece of U.S. and global energy infrastructure.
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Sells oil and gas company Basin Exploration for $428 million.
Founds Freeport LNG, initially planned as an import terminal.
Raises over $15 billion in debt to build the massive LNG export facility.
Continues as Founder and CEO of the major energy infrastructure project.
Michael S. Smith's wealth is rooted in his founding equity and executive leadership of the massive energy infrastructure project, Freeport LNG.
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+0.56% | +$12.46M
+0.46% | +$12.81M
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