|Net Worth:||$160 million|
|Profession/Career:||Inventor, Investor, Entrepreneur|
|YouTube Channel:||Lori Greiner (@LoriGreiner)|
|College:||Loyola University of Chicago|
|Full Name:||Lori Greiner|
|Date of Birth (Age):||December 9, 1969 (52 years old)|
|Place of Birth:||Brooklyn, New York|
Frequently associated with
- Kevin O’Leary
- Mark Cuban
- Robert Herjavec
- Barbara Corcoran
- Daymond John
- Shark Tank
Net Worth of Lori Greiner
Lori Greiner’s net worth is estimated to be roughly $160 million in 2022.
Lori is known as a prolific inventor and had her start from a creation of hers, the Mirrored Jewelry Cabinet. In order to fund this, she was able to take on debt to the tune of $300K, and reportedly made over $10 million through various outlets such as JCPenney and the Home Shopping Network. Since then, she’s amassed a portfolio of over 400 inventions along with over 100 patents to her name. The large majority of her sales of product have been through QVC.
Her initial influx of capital also allowed her to reinvest in other businesses, namely her For Your Ease Only brand and her show called Clever and Unique Creations that airs on QVC.
It wasn’t until 2012 that she joined Shark Tank, which allowed her to invest in even more businesses by partnering with featured entrepreneurs, and a series of smart investments made on that show by Lori have propelled her net worth to what it is today.
How much does Lori Greiner earn in a year?
Lori Greiner is estimated to earn roughly $10 million a year.
The largest contributors to Lori’s yearly earnings include:
- Lori’s brand For Your Ease Only ($5M+ per year)
- Shark Tank ($1M+ per year)
- Scrub Daddy (20% equity, $400M+ in sales)
- Readerest (65% equity, $8M+ in sales)
- Squatty Potty (5% equity, $12M+ in sales)
- Royalties in perpetuity from her book, Invent It, Sell It, Bank It!: Make Your Million-Dollar Idea Into a Reality
Lori Greiner also has a YouTube channel, but isn’t very active with it. Currently, she has a mere 3.75K subscribers on the channel. YouTube channels make between $3 to $5 per 1,000 views. Let’s take the midpoint of that at $4. The channel has had around 675K views thus far. With that view count, the channel has made roughly $2,700 from YouTube ad revenue. Clearly, she’s not in it for the money, but it does serve as exposure for her products that are being sold on various channels.
Lori Greiner also has an Instagram account with almost 1M followers and an engagement rate of 0.27%. An influencer on Instagram typically makes anywhere from $2 to $6 per thousand followers for a sponsored post, depending on their niche and engagement rate. If we assume the midpoint at $4 per 1K followers per sponsored post, we can estimate that she gets paid roughly $4,000 on average per sponsored post. She can dole out many of these sponsored posts per year with enough demand.
On top of that, she can take on brand deals in addition to sponsored posts, which nets her extra income and boosts her net worth. It’s a tiny fraction of her overall net worth but still notable.
Did Lori Greiner grow up rich or poor?
Lori Greiner grew up in an upper-class household. Both of her parents were entrepreneurs/business owners that did well for themselves. Her father, David L. Husman, was a real estate developer and her mother was a licensed psychologist who owned her own practice. However, her parents divorced when she was still young at 9 years of age, and she went on to live with her mom. Her father continued to pay child support to keep her standard of living similar to what it was prior to the divorce.
Lori Greiner’s First Business – Stud Earring Jewelry Box
Lori Greiner’s jewelry box invention, known as the “Stud Earring Jewelry Box,” was a groundbreaking solution to a common problem faced by many women – organizing and storing earrings effectively.
The Stud Earring Jewelry Box was designed to provide a practical and efficient way to store stud earrings, which often presented challenges due to their small size and the potential for misplacement. Greiner’s jewelry box featured a compact and compartmentalized design that allowed for easy and secure storage of stud earrings. It had individual slots or compartments where each pair of earrings could be placed, preventing them from getting tangled or lost.
The box was designed with convenience in mind. It typically had a hinged lid or a sliding mechanism for easy access to the earrings. The interior of the box was lined with soft fabric or foam to protect the earrings from scratches and damage. Some versions of the jewelry box also incorporated a clear plastic or glass cover, allowing users to see their earring collection at a glance.
One of the key features of Greiner’s jewelry box was its versatility. The compartments were designed to accommodate different earring sizes, ranging from small studs to larger statement earrings. This adaptability made the product appealing to a wide range of customers with varying earring collections.
The success of the Stud Earring Jewelry Box was evident when Greiner introduced it on QVC. The product quickly gained popularity and sold out within minutes, demonstrating its market potential and the demand for practical jewelry storage solutions. This success propelled Greiner to further expand her product line and continue inventing innovative solutions for everyday problems.
The jewelry box invention not only showcased Greiner’s entrepreneurial spirit but also highlighted her ability to identify consumer needs and develop practical solutions. It laid the foundation for her future success as a product developer and entrepreneur, setting her on a path to become one of the prominent figures in the business world.
Lori Greiner and Scrub Daddy
Lori Greiner is a successful entrepreneur and investor who is known for her appearances on the popular TV show Shark Tank. Scrub Daddy is a company that makes innovative cleaning products, including a popular cleaning sponge that is shaped like a smiley face.
In 2012, Scrub Daddy founder Aaron Krause appeared on Shark Tank to pitch his product to the panel of investors, which included Lori Greiner. Greiner was impressed with the product and saw its potential for success, so she made a deal with Krause, offering him $200,000 in exchange for a 20% equity stake in the company.
Since then, the Scrub Daddy sponge has become a huge success, and the company has expanded its product line to include other cleaning tools and accessories. Greiner has been closely involved with the company’s growth and development, and her expertise in marketing and product design has been instrumental in helping Scrub Daddy become a household name.