Lori Greiner is a popular entrepreneur, inventor and TV personality best known for her role in the television series Shark Tank. Lori is a modern genius and a great example for women around the world, proving that your gender should not limit your capabilities. She has assisted in the launch of over 400 consumer products as well as the proud holder of 120 patents, giving her the title “The Queen of QVC.”
Lori Greiner Net Worth: $70 Million
How did Lori Greiner get rich?
Lori was born on December 9, 1969 and grew up in Chicago on the Near North Side. She came from a background of intellectual and successful parents. Her mother was a psychologist and her father was a real estate developer. Unfortunately her parents separated when Lori was 9 years old. The American entrepreneur attended Loyola University in Chicago, where her major was Communications, with a focus on journalism, film, and television. She initially found a position with the Chicago Tribune while studying and also found work as a playwright. Her other income came from selling jewelry on the side.
Her hunger for entrepreneurial success continued after her graduation from Loyola. Her first successful product was developed right after graduation when she was discussing with a friend how disorganized her jewelry had become. She knew there had to be a away to keep inverting organized, especially if she wanted to continue her profitable hobby of selling jewelry. She eventually solved the problem with a specially designed jewelry box.
The jewelry organizer became so effective that she later chose to patent the idea. After acquiring the patent, she wanted to create a product sample to make her own pitch to investors, but the cost to produce a perfect sample was daunting. To solve the problem, she had to take out a loan of $10,000 just to build a sellable prototype. With that borrowed money and prototype in hand, she was eventually able to sell the idea to J.C. Penny. Eighteen months down the line, the product she created started earning her a fortune. She even sold 2,500 units of the jewelry organizers in her first television appearance.
After becoming a successful entrepreneur and powerful saleswoman, Lori joined the cast of the television series Shark Tank in 2012. Her calm and friendly nature gave her the title of “the warm-blooded shark” while on the show. Two years later, Lori saw an opportunity in a company that produced a brilliantly designed texture changing sponge called ScrubDaddy. She invested in it and it became a huge success, selling over 2 million sponges on QVC within just 24 hours.
Today, ScrubDaddy remains the most successful story in the history of Shark Tank, with well over $70 million in sales across a multitude of stores. A few other noteworthy investments from Shark Tank that have created great success for Lori include Drop Stop, FiberFix, and Readerrest. Lori has now become a role model to young entrepreneurs, and recently shared her knowledge by speaking at the first U.S. Patent and Trademark Office Women’s Entrepreneurship Symposium and publishing a book, titled Invent it, Sell it, Bank it! Make Your Million Dollar Idea into a Reality. The book has been great success and reached third place on the WSJ Best Seller List.
Lori Greiner Salary & Earnings 2016
While it is difficult to say for sure how much Lori earns in total, it goes without saying that it is a massive figure. In 2016, millions of dollars worth of products were sold by Lori’s companies. Additionally, Lori was not only paid for her casting in Shark Tank and Beyond the Tank, but she also earned money in the movie industry, having a small role in the celebrity packed film Sharknado 4.
If Lori Greiner’s net worth is anything to go by, you can be rest assured that the amount she rakes in annually is in the millions. Current estimations suggest that the figure is around $82,500 per week, or $4 million per year.
Lori Greiner Marriage
Lori Greiner is married to financial guru Daniel Greiner. He is the former Controller (company in-house accountant) for Bell & Howell, a manufacturer of consumer products and machinery. Mr. Greiner now works as the manager of finances at Lori’s company named For Your Ease Only, Inc.
Lori Greiner Car
With all her millions, and success, Lori Greiner has taken the time to treat herself. Her current vehicle is the luxurious Mercedes SLS AMG. Her red supercar is equipped with cool falcon wing doors and a starting price of $220,000. Though not the most fuel efficient vehicle with only 13 mpg while driving in cities, the car makes up for its gas use with a neck breaking 583 horsepower.
Lori Greiner Home
Lori Greiner lives in a modest home in the Gold Coast area of Chicago, Illinois. Always jet-setting across the world for her next big deal, Lori has opted to live with her husband in a cozy 2 bedroom, 2 bath, condominium. The condo has an estimated value of $672,000.
Lori Greiner Surprising Facts
It may surprise many to find out that the reigning Queen of QVC actually got her TV sales debut on the network of QVC’s biggest competitor, the Home Shopping Network. Lori originally pitched her earring organizer to QVC, but her now beloved QVC declined the deal saying her business was just too early for the network.
Another surprising fact is that while Lori did not began her best known role as the QVC Shark until Shark Tank’s third season, she was actually approached at the show’s creation to be a part of the original cast. Sadly Lori had to decline the opportunity due to a family emergency.
Lori Greiner Philanthropy
While Lori does bring in a significant amount of money, she is not hesitant to share it with those in need. The American inventor recently hosted an auction event where the proceeds will benefit Ignite the Spirit, which is a support group for the Chicago Police Memorial Foundation and the Chicago Fire Department.
Lori Greiner Accomplishments
Lori Greiner has created a large portfolio of achievements throughout the course of her career. She has used her vision and creativity to invest in many successful companies, she has invented a multitude of successful products, and she has her own bestselling book. She is a great example for women around the world and has shared her wealth with those in need.