Age, Biography and Wiki

Jeffrey Skilling (Jeffrey Keith Skilling) was born on 25 November, 1953 in Pittsburgh, Pennsylvania, U.S., is a Businessman convicted of felonies. Discover Jeffrey Skilling's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 70 years old?

Popular As Jeffrey Keith Skilling
Occupation Former CEO of Enron Former Partner at McKinsey & Company
Age 70 years old
Zodiac Sign Sagittarius
Born 25 November, 1953
Birthday 25 November
Birthplace Pittsburgh, Pennsylvania, U.S.
Nationality United States

We recommend you to check the complete list of Famous People born on 25 November. He is a member of famous Former with the age 70 years old group.

Jeffrey Skilling Height, Weight & Measurements

At 70 years old, Jeffrey Skilling height not available right now. We will update Jeffrey Skilling's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Who Is Jeffrey Skilling's Wife?

His wife is Susan Long Rebecca Carter (m. 2002)

Family
Parents Not Available
Wife Susan Long Rebecca Carter (m. 2002)
Sibling Not Available
Children 3

Jeffrey Skilling Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Jeffrey Skilling worth at the age of 70 years old? Jeffrey Skilling’s income source is mostly from being a successful Former. He is from United States. We have estimated Jeffrey Skilling's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income Former

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Timeline

1953

Jeffrey Keith Skilling (born November 25, 1953) is an American businessman who in 2006 was convicted of federal Felony charges relating the Enron scandal.

Skilling, who was CEO of Enron during the company's collapse, was eventually sentenced to 24 years in prison, of which he served 12 after multiple appeals.

Skilling was indicted on 35 counts of crimes related to the Enron scandal.

Jeffrey Keith Skilling was born in Pittsburgh, Pennsylvania, on November 25, 1953, the second of four children of Betty (née Clarke) and Thomas Ethelbert Skilling, Jr. His father was a sales manager for an Illinois valve company.

His older brother, Tom Skilling, later became chief meteorologist at WGN-TV in Chicago.

Skilling grew up between New Jersey and Aurora, Illinois.

When he was 16 years old, he worked at WLXT-TV (channel 60), a UHF television station in Aurora.

He graduated from West Aurora High School and received a full scholarship to Southern Methodist University in Dallas, Texas, where he was a member of the Beta Theta Pi fraternity.

Skilling initially studied engineering before changing to business.

1975

After graduating in 1975, he went to work as a corporate planner for First City Bancorporation of Houston, Texas.

1977

He quit by 1977 to attend Harvard Business School.

According to Skilling, during his admissions interview for Harvard Business School, he was asked if he was smart, to which he replied, "I'm fucking smart."

This apparently so impressed the interviewer that it secured his place at the school.

1979

He earned his MBA from Harvard Business School in 1979, graduating in the top 5% of his class as a Baker Scholar.

After graduation, Skilling became a consultant at McKinsey & Company in the energy and chemical consulting practices.

He eventually became one of the youngest partners in the history of McKinsey.

1987

As a consultant for McKinsey & Company, Skilling worked with Enron during 1987, helping the company create a forward market in natural gas.

1990

Skilling impressed Kenneth Lay in his capacity as a consultant, and was hired by Lay during 1990 as chairman and chief executive officer of Enron Finance Corp. In 1991, he became the chairman of Enron Gas Services Co., which was a result of the merger of Enron Gas Marketing and Enron Finance Corp. Skilling was named CEO and managing director of Enron Capital and Trade Resources, which was the subsidiary responsible for energy trading and marketing.

1997

He was promoted to president and chief operating officer of Enron during 1997, second only to Lay, while remaining the manager of Enron Capital and Trade Resources.

During Skilling's management, Enron adopted "mark-to-market" accounting, in which anticipated future profits from any deal were accounted for by estimating their present value rather than historical cost.

Skilling began advocating a novel idea: by promoting the company's aggressive investment strategy, the company didn't really need any "assets".

This plan helped make Enron the largest wholesaler of gas and electricity, with $27 billion traded in a quarter.

2001

On February 12, 2001, Skilling was named CEO of Enron, replacing Lay.

He was slated to succeed Lay as chairman as well in early 2002, but abruptly resigned six months later on 14 August 2001.

Skilling joked about the California energy crisis at one meeting of Enron employees by asking, "What is the difference between California and the Titanic? At least when the Titanic went down, the lights were on".

Skilling later attributed the remark to frayed relations between Enron and California.

His employees, meanwhile, plotted to keep the price of energy high in California.

On March 28, 2001, PBS's Frontline interviewed Skilling, where he claimed for Enron "We are the good guys. We are on the side of angels".

On April 17, 2001, Skilling made what became an infamous comment during a conference call with financial analysts.

In response to fund manager Richard Grubman saying "You know, you are the only financial institution that can't produce a balance sheet or cash flow statement with their earnings", Skilling replied: "Thank you very much, we appreciate that... asshole."

Skilling unexpectedly resigned on August 14 of that year, citing personal reasons, and he soon sold large amounts of his shares in the corporation.

Then-chairman Kenneth Lay, who previously served as CEO for 15 years, returned as CEO until the company filed for bankruptcy protection during December 2001.

When brought in front of congressional committees, Skilling stated that he had "no knowledge" of the complicated scandal that would eventually result in Enron's bankruptcy.

2006

In 2006 he was found guilty of conspiracy, insider trading, making false statements, and securities fraud.

He was sentenced to 24 years in prison and fined $45 million.

2010

The US Supreme Court heard arguments in the appeal of the case in 2010, vacated part of Skilling's conviction, and transferred the case back to the lower court for resentencing.

2011

In 2011, a three-judge panel of the Fifth Circuit Court of Appeals ruled that the verdict would have been the same despite the legal issues being discussed, and Skilling's conviction was confirmed; however, the court ruled Skilling should be resentenced.

Skilling appealed this new decision to the Supreme Court, but the appeal was denied.

2013

In 2013, following a further appeal, and earlier accusations that prosecutors had concealed evidence from Skilling's lawyers prior to his trial, the United States Department of Justice reached a deal with Skilling, which resulted in ten years being cut from his sentence, reducing it to 14 years.

2018

He was moved to a halfway house in 2018 and released from custody in 2019, after serving 12 years.