Throughout Lori Greiner's career as an inventor, entrepreneur, author, and Shark Tank investor with many successful deals, she has built a respectable fortune. Fans fondly call Greiner the Queen of QVC. What is Lori Greiner’s net worth and how does her net worth compare with other Shark Tank investors like Mark Cuban? If you want to be a millionaire and you are looking for inspiration, how did Lori Greiner get rich?
Before we get into how Greiner got rich, it helps to know a little bit of her background. Born in 1969, Greiner is the second daughter of a psychologist and a real estate developer. Her parents split when she was 8 years old. Greiner studied journalism at Loyola University in Chicago. While she was still in college, Greiner landed a job with the Chicago Tribune and dreamed of being a playwright.
What is Lori Greiner’s net worth?
Lori Greiner’s net worth is $150 million due to her successful career as a product designer, television host, and investor. Her salary as a Shark Tank cast member also contributes to her net worth. Mark Cuban, with a net worth of $4.3 billion, is the richest Shark Tank member.
Greiner’s Shark Tank colleagues Kevin O'Leary and Daymond John have a net worth of $400 million and $300 million, respectively. The other sharks, Robert Herjavec and Barbara Corcoran have a net worth of $200 million and $80 million, respectively. Although Greiner isn't the richest Shark Tank member, she ranks among the wealthiest people on the program.
How did Lori Greiner get rich?
Greiner’s big break in business came from selling jewelry storage. In the 1990s, she invented a plastic box for storing earrings. The earrings organizer became a huge hit and made Greiner her first million. Greiner sold the product at JCPenney, Home Shopping Network, and other channels. Within three years, the business was making more than $10 million.
Greiner built on her breakout earrings box invention and launched other successful products. She has created more than 700 products including items for kitchen and mobile devices.
She holds more than 100 U.S. and international patents. Greiner promotes the products on her show on QVC and other platforms. She hosts one of the longest-running shows on the network called Clever & Unique Creations. Greiner runs the For Your Ease Only company with her husband.
The sales from Lori Greiner’s book Invent It, Sell It, Bank It!, which is a national bestseller, also contribute to her net worth. The book offers entrepreneurs a guide on how to make good money from their ideas.
American television personality and entrepreneur
Net worth: $150 million
Lori Greiner’s Best Shark Tank Investments
Greiner joined Shark Tank in 2012. She has invested more than $10 million in Shark Tank companies. Many of Greiner’s Shark Tank investments have paid off well. Her best investment is sponge company Scrub Daddy. Greiner invested $200,000 in Scrub Daddy in exchange for a 25 percent stake in the business. Scrub Daddy’s sales soared to more than $50 million a year later.
Greiner’s other notable Shark Tank investments include Bambooee, Wine Balloon, Squatty Potty, Simply Fit Board, Sleep Styler, Drop Stop, and Bantam Bagels, which was later sold to T. Marzetti Company.
Greiner recently shocked viewers by offering a shark tank contestant $1 million for 100% of their company, with a 3 percent royalty of net sales for life. Mike Gutow pitched his company Legacy Shave, a shave brush that comes with shaving cream to help reduce mess.
“I really like the interchangeability of this cap onto anything, and I like the thought of that there are other things you can do with it and that you have a patent,” she said in the Season 14 episode. “All that being said, you don’t have many sales. You haven’t proven this, but I also look at it as your family, and you don’t have a lot of experience in the consumer product world.”
They ended the deal with Greiner offering $700,000 for the entire company and Gutow keeping 5 percent equity.
Is Lori Greiner married?
Lori Greiner is married to Dan Greiner. They got married in 2010. Greiner met her husband in Chicago, where she grew up in the Near North Side neighborhood. In her book Invent It, Sell It, Bank It! Greiner talks about how her husband has supported her career.
Currently, Greiner and her husband don't have kids.