Lori Greiner is an entrepreneur, inventor, author, and investor. Greiner is most recognized for starring on ABC’s Shark Tank, where she invests in up and coming businesses. She has established a business empire and is an expert in intellectual property, with 120 patents to her name. Lori is also the CEO of For Your Ease Only, Inc. Lori Greiner has a net worth of $150 million, making her the fifth richest cast member on Shark Tank.
| Name: | Lori Greiner |
|---|---|
| Net Worth: | $150 million |
| Annual Earnings: | $6.2 million |
| Source of Wealth: | Startups & inventions |
| Husband: | Daniel Greiner |
Early Life
Born and raised on Chicago’s Near North Side (her father was a real-estate developer, her mother a clinical psychologist), Lori Greiner majored in Communications at Loyola University Chicago, writing for the Chicago Tribune on the side before pivoting full-time into product invention.
How She Made her Fortune
In 1996, Lori invented a plastic earring organizer. Initially, she only intended to use the idea to help herself, but she took out a $300,000 loan to create a prototype that she could market through retail channels.
It was a risky move, but it paid off in the end. J.C. Penney ended up taking the item which helped pay off her line of credit within 18 months. Her business grew as her product was featured at the Bed, Bath and Beyond shop and on Home Shopping Network. By 2000, she achieved $10 million in sales.
Media Career
The first time she appeared on a shopping channel, she sold over 2,500 earring organizers in two minutes. After seeing her potential on screen, Lori went to the television network QVC to expand her advertising reach.
Her show, Clever & Unique Creations, became the longest-running program on the channel and this is why she’s referred to as the “Queen of QVC.” Clever & Unique Creations ran for 11 seasons but is no longer running.
She joined the cast of Shark Tank in 2012 and is also a part of the spin-off series, Beyond the Tank. Outside of reality TV, she has published a book titled “Invent it, Sell it, Bank it”!
Net Worth and Earnings
Lori Greiner is arguably the most successful investor on Shark Tank and has made more on the show than Mark Cuban. In 2014, she invested in Scrub Daddy, a cleaning product that has done $926 million in sales.
It’s hard to find out how much she’s made from Scrub Daddy since it’s a private company but most likely her 20% equity stake is lower. Squatty Potty is another profitable deal, it has done $222 million in sales since Shark Tank and was acquired by Aterian for $31.1 million.
According to Variety, Lori Greiner makes $50,000 for an episode of Shark Tank. Based on the number of episodes, she’s expected to take home over $1 million per season. Furthermore, Lori has marketed more than 1,000 profitable products, with 120 patents to her name. Plus, she has book sales and owns For Your Ease Only, Inc. All of her pursuits result in a fortune of $150 million.
Personal Life
The businesswoman married Daniel Greiner in 2010 and they live in Chicago but have no kids together. Daniel is the Chief Financial Officer of For Your Ease Only, Inc and is worth an estimated $50 million.
