Below is a compiled list of the most interesting facts about Todd Hoffman. Check it out!
Todd Hoffman has his name as a gold miner through the immense popularity of the show “Gold Rush” on the Discovery Network. The show has aired for multiple seasons and has been consistently a top rated television program for the network.
Here are some interesting facts about Todd Hoffman:
1. Todd Hoffman net worth is estimated to be $5 million.
As of 2018, Todd Hoffman net worth is massive $5 million. Even though his net worth is volatile because of changes in the market on a regular basis, Hoffman has enough assets to remain stable financially for his family.
Being one of the stars of a top-rated television show watched by millions around the world, Hoffman has been able to stick with a great contract with the Discovery Network. Let’s not forget that his main business still is digging gold and from the looks of his show, he has been great at digging the gold out so far.
Todd Hoffman net worth compared to other Gold Rush stars
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2. Hoffman’s aviation business was hit by the 2008 recession.
Hoffman saved his family’s finances as his business was badly hit by the 2008 recession. He turned to gold mining and because of his quick thinking his family was able to sustain their living standards.
The fall of 2008 was one that many would not have ever imagined. Nobody would have thought that an established bank like Lehman Brothers would be bankrupt. Hoffman too would not have ever imagined such a large financial crisis.
He didn’t have a back-up plan for such a scenario because like most families he would never have thought that would ever be the need of such a plan.
Hoffman was involved in the aviation industry. He had leased a hangar space at an airstrip outside of Portland in Oregon. Within the span of days, the value he created in the business was gone and with people’s bank accounts being squeezed out, the travel industry was one of the quickest to flourish.
This left Hoffman in a pile of debt that could have seized his assets off completely if the dues were not paid back.
3. He thus made the switch to Gold Mining
Hoffman isn’t an economist at Harvard but he does have something that many don’t seem to possess, common sense. Because of this gift, he saw an opportunity in the midst of an ongoing agony.
The main reason why he instantly decided to start mining gold was because of the government’s big decision to start printing money. He knew that the price of gold would go up tremendously over the years.
Hoffman was in a situation where he had to do something bigl in order to curb the losses that he had in his previous business. He managed to gather up an investment of $1 million for the equipments which was a big risk at that time. Thankfully, he managed to build a great plan and his road to recovery came soon after he started his new venture.
4. “Gold Rush” became the highest rated Friday program for Discovery
Hoffman doesn’t possess any true previous work experience in this field of work that needs an equal amount of luck in proportion to the hard work done to strike gold.
He used to visit a gold mine with his father Jack at Fairbanks, Alaska but was never physically involved in the business. Soon after this, he made a pitch for the production of a series that today would become Gold Rush.
Today, he can boast of a healthy business along with the followers that he has garnered through the show and obviously the royalties he get being one of the main men on the show. He has become an inspiration for the blue collar worker community who look after him as a role model and be motivated to turn around their lives just like he has been able to do with his.
5. Hoffman tries his best to keep his family life private
Hoffman is definitely a hustler and a straight forward old school guy who believes in good values. He has tried his best to keep his wife and their 3 children distanced from the spotlight as much as possible.
He has admitted that marriage has not been easy for him because of the nature of his work but he is keeping it together. He is also protective of his children as he doesn’t want them to feel like a star and get trapped into something that is not “real”. Family is first and it is the main thing that matters to Hoffman.