The formation of the private security firm Blackwater in 1997 began with the acquisition of 6,000 acres in North Carolina’s Great Dismal Swamp. Founded by a former United States Navy officer, the company grew to become a significant contractor for the federal government, providing security services in multiple international conflict zones throughout the early 21st century.
Early Career and Military Service
Born in Holland, Michigan, in 1969, Prince attended the United States Naval Academy before graduating from Hillsdale College with an economics degree in 1992. He later joined the Navy via Officer Candidate School and completed SEAL training, eventually serving with SEAL Team 8. His military deployments included Haiti, the Balkans, and the Middle East before he resigned his commission in 1995 following his father's death.
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Prince founded Blackwater in 1997, positioning it as an efficient alternative to traditional government logistical structures. Between 1997 and 2010, the company secured approximately $2 billion in government contracts. During this period, it provided hundreds of security personnel for embassy protection and worked on classified assignments for the Central Intelligence Agency, including involvement in a task force dedicated to targeting suspected terrorists.
Controversy and Legal Challenges
Public and legal scrutiny intensified following the September 2007 Nisour Square incident, where Blackwater contractors killed 17 Iraqi civilians in Baghdad. Prince faced subsequent investigations regarding arms trafficking, including a 2012 settlement by successor company Academi and allegations involving Libyan operations. He stepped down as CEO in 2009 and sold the firm to private investors in 2010.
Post-Blackwater Ventures
Following his departure from Blackwater, Prince shifted his focus to the private equity and resource sectors. He established the Frontier Resource Group in 2012 and served as chairman of the Hong Kong-listed Frontier Services Group until 2021. His career has continued to span multiple roles, including financier, aircraft pilot, and entrepreneur.
Fast facts
- Born: 1969, Holland, Michigan
- Military Rank: Lieutenant
- Education: Hillsdale College, United States Naval Academy
- Blackwater Founding: 1997
- Chief Executive Tenure: 1997-2009
- Key Affiliations: Academi, Frontier Services Group
Questions readers ask
What was the purpose of Blackwater?
Blackwater provided private security and training services, acting as a contractor for government agencies like the State Department and the CIA.
Did Prince hold other business roles after Blackwater?
Yes, he founded Frontier Resource Group and served as chairman of the Frontier Services Group until 2021.
Achievements
- Affiliated with Academi and Frontier Services Group
- Educated at Hillsdale College, United States Naval Academy and Holland Christian High School
- Worked as military officer, financier and businessperson
