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. As of 2023, Barbara Corcoran has a net worth of $100 million.
|Name:||Barbara Ann Corcoran|
|Net Worth:||$100 million|
|Annual Earnings:||$14.5 million|
|Source of Wealth:||Real estate, investing and book sales|
Barbara Ann Corcoran was born on March 10, 1949 and grew up in Edgewater, New Jersey. She was raised in an Irish-Catholic household and was the second oldest out of ten siblings. Her father Edwin, worked many jobs, while her mother, Florence, was a homemaker.
Poverty was a big factor in her childhood as Barbara’s family relied on food deliveries from a local grocer. And it did not help that her father was an alcoholic. Barbara was diagnosed with dyslexia at a young age and struggled at school.
She initially went to St. Cecilia High School but transferred to Leonia High School due to her 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.
After college, she was a teacher but left the job after a year because she hated it. Then, she bounced from job to job. By 23 years-old, she held 20 different jobs but didn’t know what she wanted to do.
While working as a waitress, her ex-boyfriend, Ray Simone, persuaded her to work for a real estate firm. Corcoran worked as a receptionist for the Giffuni Brothers’ brokerage in New York.
With a $1,000 loan, Ray and Barbara started a real estate brokerage called The Corcoran-Simonè. After they broke up, the aspiring businesswoman established The Corcoran Group, which she 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.
In the mid-1970s she started publishing The Corcoran Report, a monthly report of real estate market trends in New York. Starting in 2003, Barbara proceeded to publish several books.
With her expertise and wealth, Barbara Corcoran was invited to become one of the original Shark investors on ABC’s Shark Tank. In 13 seasons of the show, she became known as a conservative investor and rarely takes risks.
Corcoran is a columnist for New York Daily News, The Daily Review, More, and Redbook. She also hosts several podcasts, including The Millionaire Broker with Barbara Corcoran, Business Unusual with Barbara, and 888-Barbara.
Net Worth and Earnings
Of all her media endeavors, Shark Tank is no doubt 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. Also, it is reported that she makes $50,000 per episode.
There are her earnings from publishing, Shark Tales, is 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.
Barbara is married to Bill Higgins, a former FBI agent and Navy captain. They tied the knot in 1988 and now have two children together, Tom and Kate. Tom was conceived via IVF, and Kate was adopted.