Birthplace: Sandy, Oregon
Children: Hunter, Hudson,
Father: Jack Hoffman
Net Worth: $5 Million
Now in it’s third season Gold Rush has become one of Discovery Channel’s highest rated series. Father and son Gold Miners Jack Hoffman, 65 years old and his son Todd Hoffman now 49 began the mining of gold placer deposits found in Alaska and the Klondike.
The show initially followed several teams but now focuses more on the father son team. After quitting mining in the Klondike, Todd sets his sights on South America and flies his crew to Peru. But to find rich gold ground to mine, they must overcome dense jungle, lethal roads, and turf wars with local miners on their epic journey. The show is the highest rated cable show on Friday nights with viewers reaching 3 million per episode. Although Todd has earned a tremendous amount of money mining he has become even more lucrative earning $400 thousand dollars per season. His net worth today is $5 million.
Hoffman’s parents were married when they were 18 years old. His father Jack was born in Portland Oregon and always had a dynamic way of speaking which attracted his mother to him in the beginning. Todd was raised in Oregon and after college went to the aviation business. To support Todd Jack began his own gold mining business in the 1980’s which initially started very profitable and has helped Jack earn over $4 million. After several years working in aviation Todd saw the occupation was declining in Oregon he needed to change gears.
But while his personal finances were swamped, he saw opportunity based on what he was happening in Washington: As the government agreed to flood markets with cash, the price of gold would go up. Todd Hoffman was in the wrong business when the markets crashed in the fall of 2008. He leased hangar space at an airstrip outside Portland, Oregon, mostly to corporations. Unfortunately when the stock market and econmy became uncertain for the companies the first thing they slashed form their budgets was transportation and Todd was left with almost nothing. He claims he saw his life go to hell in a hand basket.
Inspired by his father he employed a group of unemployed friends. Todd used his money to finance the equipment which cost over $1 million. Todd was initially optimistic after hearing the cost of gold rise and several gold claims in Alaska. He and his team had to restart and restructure their lives around their search for gold moving in to Alaska for several months on a long and uncertain trek. But for 3 years Todd was able to recoup over $20 million in gold and other valuable minerals. Most of the money was first used to pay off loans he financed to get the equipment and each of his crew was paid handsomely. He then put the rest into funding their next trip to South America.