shark Tank A show about chasing your entrepreneurial dreams. Some people come to the show and learn the hard lesson and others see their ideas come to fruition thanks to the investment of the judges, otherwise known as the ‘sharks’. on each shard shark Tank Very rich in himself. How else can they invest in other people’s business ideas each week? However, there is one judge who rises significantly above the others in regards to the amount of money: Mark Cuban.
Entrepreneurs come looking for opportunities
idea behind shark Tank Quite simple. Inventors and entrepreneurs come to the show to present their product idea to real-life investors, also known as sharks. The sharks then evaluate the products and decide whether the idea is worth the risk of investing their own money.
shark Tank It is in its 12th season and has shown astonishing success. The show has also been the launching point for many successful products. Investopedia Lists the top eight successful product investments:
- Sleep Styler: Heat-Free Hair Rollers, $100 Million in Sales
- The Boggs: Online florist that partners with eco-friendly farms to raise $100 million in sales
- Suggestion Elves: Ugly Christmas Sweater, $125 million in sales
- Basic Comfort: Wearable blanket with hood, $150 million in sales
- Bus fit board: An exercise board on which you stand and turn, $160 million in sales
- Squatty Potty: Toilet stool, $164 million in sales
- Scrub Daddy: A Reusable Smiley Face Super Sponge, $209 Million in Sales
- Pump: Comfort socks and T-shirt (for every item purchased, one item is donated to help the needy), $225 million in sales
one shark is much richer than all the others
It is true that Cuba is by far the richest shark on the panel of investors. south china morning post Reportedly, Cuba is valued at $4.5 billion. With assets like that, it’s easy to see that Cuba has been in business for a long time.
He started selling garbage bags at the young age of 12. He hit his first billion in 1999 after investing in a multimedia platform and his broadcast.com was sold to Yahoo. Cuban is the owner of the Dallas Mavericks of the NBA. He also owns Landmark Theater and Magnolia Pictures. He is definitely the biggest shark in the entertainment industry.
Kevin O’Leary is in second place for the richest shark. He has a pretty good sized fortune in his own right, but it’s still not even close to Cuba. O’Leary has $400 million to his name.
O’Leary has done a few things to earn his fortune. He founded his own Softkey International company (now The Learning Company) in 1986 and then sold it to Mattel in 1999 for $4.2 billion. He also co-founded Storage Now in 2003. Storage Now provides temperature controlled storage to companies including Pfizer. He also owns O’Leary Publishing, O’Leary Fine Wines and O’Shares ETF.
What about other sharks?
While Cuba and then O’Leary keep the bulk of the money on the shark’s table, other investors have luck not to sneeze. Consider these other sharks and their luck.
- Daymond John ($350 million): John created the sportswear brand FUBU 20 years ago. He has since co-founded Blueprint & Company, a co-working space, and created his own Daymond on Demand video training service. He was named Barack Obama’s Presidential Ambassador for Global Entrepreneurship in 2016.
- Robert Herjavec ($200 million): Herjavec’s family immigrated from Croatia to Canada when he was young. He used to sell newspapers and wait tables to earn money. He built a computer company in his basement and then went on to launch and sell several IT businesses. He is a member of the US Chamber of Commerce Task Force for Cyber Security.
- Lori Greiner ($150 million): Greiner has created over 500 products and has 120 patents to his name. She is called the queen of QVC because of her habit of selling things on TV. We can thank Greener for Squatty Potty and Scrub Daddy.
- Barbara Corcoran ($100 million): By the age of 23, Corcoran had 20 jobs. With a loan of $1,000, he started the Corcoran Group real estate company. Then he sold it after 25 years when it was worth $5 billion. Corcoran now earns extra money through her motivational speaker gigs.
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