His name is not undeserved, in fact, he was the first to recognize the potential of widespread electric power in the nation of Equestria, and his help was instrumental in developing the power infrastructure of both the cities of New Ponyville and Dartmoore.
This insight led him from being merely moderately wealthy to amassing a fortune, and in his excitement, he married his lover, the co-founder of Prodigious Energy, and the two developed a way to have a child together.
However… not all seems well with his home life. Due to being notoriously private, Jess does not share any of his personal life details easily, but there might be evidence that his marriage to Bright Idea is not in a great place right now…