Rags to riches stories are rare, but Barbara Corcoran is someone who experienced it personally. Barbara Corcoran made her money in real estate but is most known for appearing on Shark Tank as an investor. Barbara is the founder of The Corcoran Group, a real estate brokerage company. Through real estate and angel investing, Barbara Corcoran has a net worth of $100 million. This makes her the sixth richest cast member on Shark Tank.
Name: | Barbara Ann Corcoran |
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Net Worth: | $100 million |
Annual Earnings: | $14.5 million |
Source of Wealth: | Real estate, investing and book sales |
Husband: | Bill Higgins |
Key Takeaways
- Barbara made the majority of her fortune selling The Corcoran Group to NRT LLC for $66 million in 2001.
- Barbara earns $50,000 per episode of Shark Tank and has done over 80 deals on the show.
- The Original Comfy is her successful investment, her $50,000 investment is worth around $468 million.
- She owns a $10 million penthouse in New York and a luxury mobile home in LA worth $1 million.
Early Life
Barbara Ann Corcoran grew up in Edgewater, New Jersey and was raised in an Irish-Catholic household. She comes from a big family and is the second oldest of ten siblings.
Poverty was a big factor in her childhood as Barbara’s family relied on food deliveries from a local grocer. Barbara struggled at school and was diagnosed with dyslexia at a young age.
Initially, she attended St. Cecilia High School but transferred to Leonia High School due to poor grades. Barbara was a D student but did better in college, graduating from St. Thomas Aquinas College in 1971 with a degree in education.
Early Career
After college, she worked as a teacher but left after a year because she hated it. Next, she bounced from job to job and by 23 years-old, she held 20 different jobs.
While working as a waitress, her ex-boyfriend, Ray Simone, persuaded her to work for a real estate firm and got a job as a receptionist for the Giffuni Brothers’ brokerage.
With a $1,000 loan, Ray and Barbara started a real estate brokerage called The Corcoran-Simonè. After breaking up, the businesswoman established The Corcoran Group, which sold to NRT LLC for $66 million in 2001. The Corcoran Group now employs over 3,000 agents and is one of the top luxury brokers in the US.
Media Ventures
With her expertise and wealth, Barbara Corcoran was invited to become one of the original investors on ABC’s Shark Tank. In 14 seasons of the show, she became known as a conservative investor and rarely takes risks.
Corcoran now also hosts several podcasts, including The Millionaire Broker with Barbara Corcoran, Business Unusual with Barbara, and 888-Barbara.
Net Worth and Earnings
From all of her media endeavors, Shark Tank is the most profitable. On the show, Corcoran has done over 80 deals and helped many of partners become millionaires. Her most successful investment on Shark Tank is The Original Comfy. According to an interview with Daniel Mac, her $50,000 investment is worth $468 million. Also, it is reported that she makes $50,000 per episode.
There are her earnings from publishing, Shark Tales, a recognized bestseller. “Business Unusual with Barbara” is also a leading podcast in the business space. As a result of her efforts, Corcoran has obtained a fortune of $100 million.
Personal Life
Barbara is married to Bill Higgins, a former FBI agent and Navy captain. They tied the knot in 1988 and have two kids together, Tom and Kate. Tom was conceived via IVF, and Kate was adopted. Property wise, Corcoran owns a $10 million penthouse in New York City and a luxury mobile home in LA worth $1 million.