- Lori Greiner has built her wealth on her impressive career at QVC and Shark Tank after creating an earring organizer.
- The ‘Queen of QVC’ is a trusted spokesperson who can bring success to any product she believes in.
- Lori Greiner’s net worth has reportedly reached $150 million but may be as much as $600 million.
- Lori and her husband Dan don’t have children and devote themselves to working tirelessly together at For Your Ease Only.
- Lori has reached unprecedented success at Shark Tank, with her products making over $1 billion in sales.
If you have ever watched QVC, Lori Greiner is probably a familiar name. The ‘Queen of QVC’ is also known as the ‘warm-blooded shark’ of the hit show Shark Tank. Lori took her career from a journalist to that of an inventor with a nose for finding clever household hacks to make herself and the inventor a lot of money. With her top-selling book ‘Invent It! Sell It! Bank It!’ she is helping other aspiring millionaires learn how to gain success.
For those lucky enough to be partnered with Lori through Shark Tank, she is extraordinarily hard-working and dedicated to her inventors. She will help them build their business for the ultimate benefit of herself as well as the inventor. Lori has also taken Shark Tank products on QVC to help further their exposure and success.
Lori Greiner’s Net Worth
Lori Greiner’s net worth is a subject of much speculation. She hit $1 billion in sales for Shark Tank as of 2022. But aside from Lori’s Shark Tank net worth, what is her personal net worth?
Lori’s reported net worth is in the range of $150 million. However, if you look at her investments on Shark Tank, her actual wealth is likely quite a bit more than her reported wealth. Lori Greiner’s net worth in 2022 is as much as $500-$600 million.
Lori Greiner’s Background
Born in Chicago, Illinois, Lori Greiner is the daughter of a psychologist and a real estate developer. Lori’s family was financially stable, so she was able to focus her sights on obtaining a good college education and spent some time as a playwright. During University, she began selling costume jewelry, leading to her first brilliant invention.
Lori invented a plastic jewelry organizer and took a bank loan of $300,000 to bring her idea to market. She sold her organizer to JC Penney and paid off the loan within just 18 short months. Her entrepreneurial spirit was in full gear, and she was determined to have a self-made career. Laurie Greiner’s net worth has grown since then as she has become a successful inventor and investor.
Lori Greiner’s Height and Age
Fans are eager to know everything about Lori, including what is Lori Greiner’s age and height and how old is Lori Greiner. Loris was born on December 9, 1969, and is enjoying the 53rd year of her life today. Lori Greiner’s height is up for a bit more speculation as some report her height is 5’4’’, and others say it is as much as 5’7’’.
Whatever her height, this larger-than-life TV personality is making impressions across the country with her warm and kind demeanor. So, whether people are wondering about her age or measurements, one thing is for sure; Lori is the one you want on your side should you land on Shark Tank.
Educational Background
Her educational background includes her attending Loyola University, where she studied communications. Becoming a famous journalist was her dream, which fueled her choices in college.
Lori was also focusing her attention on television, media, and film. Her career in front of the camera could be attributed partly to her college days. During that time, she worked at The Chicago Tribune as a journalist, fulfilling her childhood ambitions.
Lorie Geriner’s Husband
So, is Lori Greiner married? Yes, she is married to Dan Greiner, her number-one supporter from the start. They met at a sports bar close to Loyola University and married soon after graduation.
Lori Greiner’s husband is a millionaire due to his joint ventures with his wife. As the CFO of For Your Ease Only, Dan Greiner’s net worth is estimated to be $50 million. Loris has stated that she focuses on the creative side of the business and her husband manages the numbers. For a couple to spend so many endless hours together, both in the office and at home, is a true testament to their adoration of one another.
Does Lorie Greiner Have Kids?
For Lori Greiner, kids have not been a part of her story. Though she and her husband do not have any children, Lori frequently comments on her love for children and has noted how difficult her lifestyle would be for children. Leading a busy life, she spends most of her time filming on Shark Tank and QVC, which doesn’t leave her much time for other engagements.
She has also spoken of her time commitment as an investor on Shark Tank, which also occupies her schedule. Once committed to a product, when she and the inventor decide to move forward, she often spends late evenings and weekends consulting with her new partner.
Shark Tank’s Lori Greiner
Shark Tank products have made $1.8 billion in retail sales. Over $1 billion of those sales are credited to Lori’s investments. Scrub Daddy and Squatty Potty hold the top-selling status as number 2 and 3 best-selling products discovered on Shark Tank.
It is clear that Lori has a knack for identifying the financial potential of even the most innocuous of inventions. She likes to invest in simple products that have a good price point. Let’s take a look at some of her top investments and her career timeline on Shark Tank!
Shark Tank Timeline
Shark Tank is where Lori makes some very profitable investments, so let’s take a look at how things started and developed:
- Lori Greiner was offered a position on Shark Tank in 2008 and was excited to accept, but she had to turn it down after the unexpected death of her mother.
- She appeared as a guest judge in season three and officially joined the case in season 4 in 2012.
- In October 2012, Lori invested $200,000 in Scrub Daddy in return for a 20% share of the company.
- Following the episode, Scrub Daddy sold 42,000 units on QVC. Today, Scrub Daddy’s worth is estimated at $250 million.
- In 2014, Lori invested in another top-producing product called the Squatty Potty. She invested $350,000 in this unusual product for a 10% share. They sold $1 million in products within the first 24 hours, and the company is worth $19 million today.
- In September 2019, Lori took a chance on a 10-year-old inventor, Cassidy Crowley, and invested $50,000. Today, Baby Toon’s net worth is estimated at $1 million, with 50% of the equity share belonging to Lori.
- March 2020 was a good month for Lori when her investment in Everlywell hit $65 million in sales, taking her total Shark Tank sales over the $1 billion mark.
- Lori and co-shark Mark Cuban joined forces in October 2020 and entered a joint venture for SparkCharge. Their $1 million investment landed them each with a 7% share in the company and a spot on the board of directors. SparkCharge’s net worth is estimated at $30 million.
- In October 2020, Lori also partnered with Rohan Oza to invest in Knife Aid. Their investment of $500k and 20% equity helped Knife Aid’s net worth to reach its current $2 million mark.
Notable Business Ventures
Lori has invested in several inventions on Shark Tank. Most people are familiar with her top products like Scrub Daddy and Squatty Potty. Let’s take a look at some of the more successful ones you may not have heard about yet.
Bantam Bagels
The stuffed New York-style mini bagel received a $275,000 investment by Lori in return for a 25% stake. The company has sold over $40 million in mini bagels and is one of the most successful food items to ever be on Shark Tank.
Qball
This durable microphone required an initial investment of $300,000 for 30% of the shares (which she shares with Mark Cuban and Rohan Oza). The microphone is specifically designed to engage audiences and has sold $3.9 in retail sales.
Phone Soap
Phone Soap is a $300,000 investment and 10% equity. This brilliant UV phone sanitizer and charger disinfects phones nationwide and has over $150 million in retail sales.
EverlyWell
EverlyWell was boosted with a $1,000,000 line of credit at 8% interest and a 5% equity share. This company offers discreet in-home testing kits physicians can review and receive results within days. Retail sales come to an amazing $300 million.
The Pizza Cupcake
The initial investment in The Pizza Cupcake was $125,000 for 12.5% equity. They have over $2.7 million in retail sales and are favored by celebrities.
Cupboard Pro
The inventor is a fireman who had cancer as a result of working at Ground Zero following the 9/11 attacks. Lori and four of her fellow sharks invested $100,000 for a 20% share. They committed to donating their profits to the men and women who have suffered illness as a result of their rescue efforts in the aftermath of 9/11. Cupboard Pro has $6 million in retail sales.
Swift Paws
This toy to entertain and exercise your dog while home alone sold out in 24 hours. The initial investment in Swift Paws was $240,000 for 6% equity, and made $100,000 in inventory.
AIRA
AIRA is a wireless charging pad allowing you to charge several devices at once. The initial investment was $500,000 for a 15% stake, split with Kevin O’Leary and Robert Herjavec.
SparkCharge
SparkCharge is a $1,000,000 and 10% equity adventure that Lori embarked on together with Mark Cuban. This portable charger for EVs is faster than its cabled counterparts.
Tangle Pets
Investing just $75,000 for a 50% stake, Lori reached out to children who love this product. Tangle Pets produces a stuffed animal combined with a brush that is designed to make hair brushing more fun for kids. It has made over $12 million in sales in little more than 2 years.
Drop Stop
We all have trouble preventing items from falling between the seat, and the console and Drop Stop has provided us with a solution. This simple concept has earned an impressive $60 million in sales, and Lori invested $200,000 for 20% equity.
Hug Sleep
Hug Sleep is another joint investment with Mark Cuban in the amount of $300,000 for 20% equity. Using Deep Touch Pressure Therapy, this blanket reduces anxiety and mimics a hug to help you enjoy a more restful night’s sleep. This has gained over $8 million in sales after just one year.
Many more products have taken the world by storm. It is easy to see why Lori has reached such great financial strides with her products, as so many projects go on to huge success.
Lori Greiner’s Success with ScrubDaddy
Scrub Daddy is one of Lori’s most-known products. With a price point of less than $4, everyone can have a Scrub Daddy in their homes. Lori and inventor Aaron Krause have added additional products to the line, like Scrub Mommy and Sponge Caddy. They also included a line of cream cleansers that can be used with these revolutionary sponges. Scrub Daddy has a total of 20 products in their line sold online and at top retailers like Walmart.
Lori Greiner’s Other Business Ventures
Lori Greiner’s products had plenty of success before her involvement with Shark Tank. The Lori Greiner jewelry box is one of her first claims to fame.
She invented a jewelry box while she was still at Loyola University, which can hold up to 100 pairs of earrings. JCPenney picked up this simple but clever design, and she went on to invent more complex boxes that QVC later offered.
Since 1998, Lori has been selling her jewelry boxes and many other designs under her ‘Clever and Unique Creations’ label on QVC. She has over 120 patents for everything from organizers and purses with a special smartphone or tablet pouch to snowglobes with added fragrance.
Lori Greiner’s Business Strategies
Lori Greiner details her best business strategies in her book ‘Invent It! Sell It! Bank It!: Make Your Million-Dollar Idea into a Reality.’ Her entrepreneurial spirit followed her from the beginning, and she used her first success with the jewelry box to launch dozens of million-dollar ideas. She made her first million by the time she was 27 years old. So what is the secret to her success?
- Lori is a strong proponent of market research. When she designed her jewelry box, she hit the streets and asked women what they thought of her design. She encourages inventors to learn everything about their product, the market, and the target customer.
- Lori also advocates using your money extremely wisely. Run lean at the start and invest in your product – don’t invest in overpriced staff or expensive office space.
- Lori has been very open about the fact that she is more likely to invest with an inventor on Shark Tank if she likes them. When considering spending a lot of time and working closely with someone, it helps if they are easy to work with and fun to be around. For this reason, she recommends that you ‘be likable.’ People will invest in you as much as they do in your idea.
- Looks matter! Consumers are more likely to pick up a new product if it is aesthetically appealing. So invest in the packaging with careful attention to the font, design, and colors.
- Be persistent. Lori said: “A brilliant idea doesn’t guarantee a successful invention. Real magic comes from a brilliant idea combined with willpower, tenacity, and a willingness to make mistakes.”
- Although she recommends being likable, sometimes your business partners will not be. But don’t let their attitude ruin a good working relationship. Laugh it off and move on for the better of your business.
- Having dozens of products isn’t necessarily a recipe for success. Having one fantastic idea is better than many mediocre ones.
- Don’t borrow money from friends and family
- Always protect your intellectual property
Lori Greiner’s Net Worth
How did Lori Greiner’s net worth reach the impressive $150 million? Let’s take a look at the timeline.
- Lori’s first invention, the earring organizer, was created in 1996 when she made her first million;
- Lori’s ‘Clever and Unique Creations by Lori Greiner’ debuted on QVC in 2000;
- In 2012, Lori joined the cast of Shark Tank;
- In 2012, she hit it big with her investment in the Scrub Daddy;
- In 2014 she made another brilliant investment in the Squatty Potty;
- Lori’s personal business and patents are estimated in value at $60 million;
- After 61 investments, 78 episodes, and more than $9.5 million invested in Shark Tank, Lori took her wealth to new heights.
What Business Owners Can Learn From Lori Greiner
Small business owners are trying to learn from those who have made it. So, what can you learn from Lori’s success?
- Have unwavering faith in your product! The drive to work hard and never give up will help you take your idea to market.
- Know your market and your customer. If you are unsure what people want to buy – go and ask!
- Have a fantastic product that people need, is useful, and is of the utmost quality.
- You can put all your eggs in one basket with one excellent product, but it is even better to create multiple income streams and diversify if you can. This strategy has helped to grow Scrub Daddy.
- Always try coming up with new ideas and inventions. Think about things that make life easier. Chances are if it is something you need, other people are also willing to buy it.
- Be willing to hustle. Lori has been hustling since the mid-’90s and shows no signs of slowing down.
Lori Greiner: Frequently Asked Questions
How Much Money Did Lori Make On Shark Tank?
Coupled with her salary as a cast member, Lori has made about $94 million from her involvement on the show.
How Much Does Lori Make Per Episode Of Shark Tank?
Lori makes $50,000 per episode, earning $3.9 million just for being a part of the cast.
How Much Has Lori Profited From Scrub Daddy?
Scrub Daddy is reportedly worth $250 million, and Lori’s 20% share of the company has increased her profit significantly.
What is Lori Greiner Famous For?
Lori is considered the ‘Queen of QVC’ due to her ability to drive huge profits from her practical products. This title earned her a coveted spot on the hit show ‘Shark Tank’ where she has been dubbed the ‘warm-blooded shark’ of the group.
How Many Companies Has Lori Invested in?
Lori Greiner has invested in 61 companies through Shark Tank for a total of $9.5 million.
What is Lori Greiner’s Most Successful Product?
Scrub Daddy is Lori’s most successful product to date. This probably has co-cast member Kevin O’Leary wishing he had made a more favorable offer to Mr. Krause than the 50% equity he was searching for!
Conclusion
Lori Greiner has a warm and enthusiastic demeanor that customers love having in their homes. As viewers connected with her on QVC and HSN, they continued to connect with her even further on Shark Tank. This has led viewers to inquire about aspects of her personal life and take a vested interest in her net worth.
Beyond the TV persona, there is no doubt that Lori Greiner has a special eye for potential products to take to market. She intuitively understands what customers want and need. Perhaps her intuition is in part what led her to fight so hard to establish a partnership with Krause for Scrub Daddy.
It is also clear that she aggressively pursues the inventors even more than the products themselves. She has told sources that she invests in the person first and the product second. Putting people first has obviously paid off for her, as anyone can see from her impressive success.
