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Part 2: Erik Prince on Becoming a Navy SEAL, Investing $5M to Create Private Military Blackwater
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Erik Prince, the founder of Blackwater, shared the inspiring story of his father, Edgar Prince, and the rise of their family’s wealth. Born and raised in Holland, Michigan, Erik highlighted his father’s early struggles, including losing his own father at age 13 during the Great Depression and working extensively from a young age. Edgar Prince founded Prince Corporation in 1965, which grew to be a major corporation credited with early automotive innovations such as the lighted sun visor, digital compasses, and thermometers for cars. This significant growth transformed Edgar into a billionaire, with the company employing 5,000 people and generating $1 billion in sales by the mid-90s. After Edgar's unexpected death in 1995, the company was sold for $1.2 billion. Erik addresses misconceptions, clarifying that while the Prince family is wealthy, Forbes’ estimation conflates their wealth with the DeVos family, into which his sister Betsy married.
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