Shark Tank is a show on ABC where budding entrepreneurs aim to secure funding that will enable them to start their own company. Entrepreneurs present their business ideas to the Sharks, who decide whether they want to invest in the business or not. Several companies who have appeared on the show have gone on to find investment, even if this has not come from the Sharks. All of the Sharks on the show are millionaires and have had very successful careers in business. They have varied backgrounds but they all know a good investment opportunity when they see one. The following list ranks the Sharks in order according to their net worth and provides information about how they earned their fortune.
1. Mark Cuban – Net Worth $4.3 billion
Mark Cuban is by far the wealthiest Shark on the panel. His net worth is ten times as much as the next Shark on the list. He had an entrepreneurial streak from a young age, doing whatever he could to earn money through high school and college. According to Biography, after college Cuban moved to Dallas and started his own consulting firm named MicroSolutions. He eventually sold the company for $6 million. His next venture was Broadcast.com, a service that allowed people to listen to commentary from basketball games online. This company was sold to Yahoo for $6 billion. In 2000 he purchased the Dallas Mavericks basketball team. He has a very hands on approach to ownership and has been credited with improving the fortunes of the club, both on and off the court.
2. Kevin O’Leary – Net Worth $400 million
Kevin O’Leary puts some of his success down to the charisma that he inherited from his Irish father. However, his mother was a skilled investor and she taught him a lot about how to manage his money. One of the key things she drilled into him was to always save a third of his income. He knew from a young age when he was fired from an ice cream parlor as a teenager that he was not built to work for someone else. He wanted to be a photographer, but was encouraged by his step-father to attend college where his interest in business and investing continued to grow. In 1986 he started the software company SoftKey. He and his partners, John Freeman and Gary Babcock, ran the company from a basement in Toronto. It became one of the biggest software companies in Canada, after making many acquisitions and was eventually sold to Mattel for $4.2 billion. O’Leary remained part of the company after the sale but left when sales started to decline.
3. Daymond John – Net Worth $300 million
Daymond John was the founder of the iconic 90s fashion brand FUBU, which he started from his apartment in Queens. To date the company has 5000 stores world wide and they have sold over $6 billion worth of clothing. According to Celebrity Net Worth, some of their apparel is on display at the Smithsonian’s National Museum of African-American History and Culture. He has spent a lot of time throughout his career developing products that help others to get their businesses off the ground. He is the co-founder of Next Level Success and he also started Daymond On Demand, which are both online training programs for entrepreneurs. During his time on Shark Tank, he has invested more than $8.5 million in projects that have featured on the show. If these investments have paid off, then this is likely to increase his net worth even more in the future.
4. Robert Herjavec – Net Worth $200 million
Robert Herjavec was born in Croatia before emigrating to Canada. The first company that he founded was BRAK Systems and this was sold to AT&T for $30.2 million. Three years later he founded The Herjavec Group, which started with just three employees. The main focus of the company is providing managed services and integrating security solutions. Today the company employs 280 people and has an annual revenue of $200 million. He is also the author of three books. The content of all of these is based around the mindset that you need to adopt in order to be a success in business and in life on general. He also does public speaking on this topic where he draws on his own life experiences to motivate people to follow their dreams.
5. Lori Greiner – Net Worth $100 million
Lori Greiner is often referred to as ‘The Queen of QVC’. She began hosting a show on QVC called Clever and Unique Creations by Lori in 2001. This is one of the longest running programs on the channel. Her interest in jewelry started a number of years earlier when she took out a $300,000 to begin selling a jewelry organizer that she had designed. Groove Wallet reported that this product began to be sold in JC Penney and she was able to repay the loan in full in just over a year. She is best known for her work in product development and she has created more than 700 products in her career. She also has over 120 international and US patents to her name.
6. Barbara Corcoran – Net Worth $80 million
Barbara Corcoran started The Corcoran Group, a real estate company, with a $1000 business loan. The business was started with her fiance at the time, but she bought him out when they split up. She went on to sell this business for $66 million. She has written several books including one called Shark Tales: How I Turned $1,000 into a Billion Dollar Business which was released in 2011 after she had been taking part in Shark Tank for a while. Today she earns the majority of her income through journalism. She has a weekly column in the New York Daily News and also hosts The Millionaire Broker with Barbara Corcoran which airs on CNBC. She has also appeared on a number of other shows as a guest star.