Who is Lori Greiner?
Lori Greiner – maiden name undisclosed – was born on 9 December 1969, in Philadelphia Pennsylvania USA, and is a television personality, entrepreneur and inventor, best known from being a cast member of the reality television show “Shark Tank”.
The Wealth of Lori Greiner
How rich is Lori Greiner? As of mid-2018, sources inform us of a net worth that is estimated at $100 million, earned through success in her numerous endeavors – she holds 120 foreign and US patents, and is credited for inventing more than 600 products during her career, and is considered one of the most prolific inventors of our time. As she continues her career, it is expected that her wealth will also continue to increase.
Education and Career Beginnings
Lori’s father is a real estate developer while her mother is a psychologist. She grew up at Near North Side in Chicago but her parents would divorce when she was nine years old. She would later attend Loyola University, Chicago and completed a degree in communications. She focused on film, television, and journalism during her time there, and also worked for the Chicago Tribune.
After completing her degree, she began designing her own jewelry which she sold while also working as a playwright. Eventually she would create her first invention, a plastic earring organizer which had the capability of neatly storing 100 pairs of earrings, which she patented. According to reports, she borrowed money to help create the product which was later bought by J. C. Penney. She had thus discovered that she had a knack for inventing, and borrowed around $300,000 to help her start her business, and repaid it in 18 months.
Join me on QVC today 2PM ET!!! I have a really big shoooooow!!!
She initially found success as a part of the Home Shopping Network, and never really intended to invent so many items, but her success led her to continue that path. She later moved to the larger network QVC, launching an arsenal of new products which would eventually lead her to have her own show on the network, entitled “Clever & Unique Creations”.
In 2012, Greiner became a part of the television series entitled “Shark Tank”, which is a franchise of “Dragons’ Den” a show in Japan, on which aspiring entrepreneurs make business presentations to a panel of investors, who choose as to whether or not they would invest in the said product or business. During the presentation of the business idea, the investors or “Sharks” find weaknesses and faults in the business model, concept, or product which leads to a rejection of the concept. Others while accepting a deal on the show, never really push through with the business due to a vetting process from the investors, leading to discoveries of more problems. There are also some cases where entrepreneurs back out because they only went to the show for publicity. The show proved very successful with consistently high ratings, and won four Emmy Awards for Outstanding Structured Reality Program.
One of the biggest successes in the show was the company Scrub Daddy, which produces a texture changing household sponge which Greiner invested in. It became highly successful and even sold more than 2 million sponges on QVC during its first day alone. The show has since been called the biggest success in “Shark Tank” history and it has sold of $100 million worth in products. The company has also a variety of new products to offer.
— Lori Greiner (@LoriGreiner) July 12, 2018
Lori has also invested in numerous other top income businesses from “Shark Tank”, including FiberFix, Hold Your Haunches, Simply Fit Board, and Readerest. She also invested in Drop Stop which aims to help prevent items from falling from the car’s center console and its front seats. In 2017, a list was made of the three biggest “Shark Tank” hits, including Scrub Daddy, the exercise tool Simply Fit Board, and the hair roller Sleep Styler, all of which Lori had invested in.
For her personal life, it is known that Greiner has been married to Dan Greiner since 2010, who is now the Vice-President and CFO of Lori’s company For Your Ease Only, having previously worked for the Bell Corporation. She is known to have spoken at the first US Patent and Trademark Office Women’s Entrepreneurship Symposium held in 2011. She also wrote her own book entitled “Invent It, Sell It, Bank It! – Make Your Million Dollar Idea into a Reality” which reached highly on the Wall Street Journal’s bestseller list and the top 10 business book list on Amazon. She also maintains her own personal website, which promotes her book and some of her recent endeavors.
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