Barbara Corcoran has a net worth of $80 million and this makes her one of the most successful female investors of all time. She has been involved in several different businesses throughout her career and these have all contributed in some way to the fortune that she has amassed. She has become involved in many of these businesses through her role as an investor in the TV show Shark Tank. Some of the ways that she has made her money are listed below.
Real Estate Business
Barbara Cocoran started her very first business when she had just left university. She was working as a waitress at the time when she and her boyfriend decided to start their own real estate business. She quit her job as a waitress and started a business called Corcoran Simone named after both her and her boyfriend Ray Simone.
The business did very well but Ray eventually ended up leaving Barbara for her secretary. After this the couple decided they could not continue to work together and the business was folded. Barbara went on to start The Cocoran Group, despite being told by Simone that she would never be a success without him.
This did not turn out to be the case and The Cocoran Group went from strength to strength. Barbara was one of the first people to start listing real estate online and this was a huge boost to her business. When rivals NRT Incorporated showed an interest in buying her business they made an opening offer of $20 million. She negotiated a much higher price than this and the business was eventually sold for $66 million.
Partnership With Entrepreneurs
As part of her role in Shark Tank she gets to choose the businesses that she wants to invest in. To date she has invested in over twenty businesses and she has seen a return on the investments that she has made as part of the show. She continues to have a share in the businesses that she has invested in and so she will be earning from these as long as they are still making a profit. As long as she remains part of the show then she has the potential to grow the number of investments that she makes further which will only increase her earnings.
Barbara has been a panel member on Shark Tank for every season that the show has been running. The investors in the show get paid a fee for every episode although all the money that they choose to invest is their own. She is known for being one of the most gentle of the sharks, preferring to let people down lightly if there are things that she does not like about the project. She was originally approached to be on the show because she is an example of how you can achieve your dreams even from humble beginnings if you are prepared to take chances and work hard.
During her career she has also had guest spots on shows such as Larry King Live where she has talked about her real estate businesses and other ventures. She also has her own show The Millionaire Broker with Barbara Corcoran and is the real estate contributor on NBC’s Today show. She was a contestant on Dancing With The Stars but was the first person to leave the show that season.
She also still earns money through her writing work. She is the author of several books and also has regular columns in both newspapers and magazines. She writes a weekly column in the New York Daily News which focuses on the things that have been happening in the real estate world lately. She also writes for Redbook, More Magazine and The Daily Review on a regular basis. She will continue to earn royalties for the books that she has written whenever people choose to buy copies of these books.
Her experience in a wide range of different businesses means that her advice is in demand from businesses that are just starting out. She works as a consultant offering targeted advice to help a business take their next steps. Her consulting company is called Barabara Cocoran Inc and this is a fairly diverse business. As well as consulting services the company also produces films and TV shows and this provides another stream of income.