Erik Prince on Blackwater Grossing $850M, Awarded $400M in Classified Government Work (Part 3)

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Part 2:    • Erik Prince on Becoming a Navy SEAL, ...  
Part 1:    • Blackwater Founder Erik Prince on His...  
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Erik Prince, founder of the private security company Blackwater, detailed the company’s financial trajectory and contributions to government operations. Initially, Blackwater grossed $400,000 in its first year but saw rapid growth, eventually pulling in $850 million annually by leveraging state-of-the-art training and equipment solutions. Blackwater's significant role in government contracts from 1997 to 2010 was highlighted, with $1.6 billion awarded in unclassified security contracts and roughly $400 million in classified work. Prince emphasized that nearly all their contracts were competitively bid, dispelling myths about sole-source procurements.

Prince's business acumen, derived from his experience in his family’s company, helped Blackwater streamline operations using lean manufacturing principles. This efficiency enabled Blackwater to specialize in diverse services such as aviation logistics, construction, disaster response, and employing over 3,500 personnel, mainly ex-special operations soldiers. Despite criticism, Blackwater's meticulous selection, training, and recruitment protocols ensured a highly skilled workforce, becoming a cornerstone for U.S. military operations in Afghanistan and Iraq post-invasion.

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