How Shark Tank’s Lori Greiner made her millions and became the ‘QVC Queen’ (2024)

FAQs

How Shark Tank’s Lori Greiner made her millions and became the ‘QVC Queen’? ›

By 2000, Greiner's business had made over $10 million from products she sold through JCPenney, Bed Bath & Beyond and the Home Shopping Network. It was enough to land her a spot on QVC, a TV network specifically for home shopping.

In 2000, she started her own show, Clever & Unique Creations. It became one of the most popular and longest-running shows in QVC's history. Greiner also made a considerable amount of money by investing in entrepreneurs she met through the reality television shows Shark Tank and Beyond the Tank.

Her many appearances on the network led to her nickname, "The Queen of QVC". In 2012, Greiner joined the U.S. TV series Shark Tank. In 2014, her investment in Scrub Daddy, a company that produces a texture-changing household sponge, was regarded as one of the biggest successes in Shark Tank history.

Lori's knack for creating practical household items led her to the Home Shopping Network and eventually to QVC in 2000 with her show "Clever & Unique Creations." Her ability to demonstrate and sell products on TV earned her the moniker "Queen of QVC," as she showcased items that made everyday tasks easier.

To say Greiner's investment has paid off would be an understatement. If her equity stake is still at 20%, with the business having an estimated net worth of $250 to $300 million, Greiner has now made between $50 and $60 million on Scrub Daddy.

Mark Cuban is estimated to be the wealthiest of the sharks, with a net worth of $5 billion. The tech entrepreneur hit billionaire status over 20 years ago in 1999 and his fortune has only grown since then!

While QVC Queen Lori Greiner doesn't have children with her husband Dan Greiner, the couple have been by each other's side for years. The two met back in 1996, and after 16 years of dating, got hitched in 2010.

Lori is believed to be worth around $150 million and Barbara is valued at a whopping $100 million.

How much is FUBU worth? FUBU is not a publicly traded company, so is not required to release its financial information. However, according to Forbes, the brand has grossed more than $6 billion worldwide since its founding.

Does Lori Greiner own Scrub Daddy? ›

In 2012 Season Season 4, Lori bought 20% of the company for $200,000 valuing the company at 1 million. By 2015, Scrub Daddy has sold more than 10 million units and made over $75 million in sales.

Chicago was Lori Greiner's home during her formative years, and she was raised there. Her parents ran their own business; they never worked a job. This was one of the things that inspired Lori to start her own business.

Shark Tank Host

She has created over 400 products and holds 112 U.S. and international patents. A well-known celebrity personality on QVC-TV, she has hosted her own show, "Clever and Unique Creations by Lori Greiner," for over 13 years. Her products are sold on QVC and by retailers in Europe and across the U.S.

The company was acquired by 3M in August 2008. 3M did not purchase a line of sponges Krause had invented, leaving them to sit in his factory. Five years later, Krause used the remaining sponges to clean his dishes and lawn furniture. According to Krause, this is when he "realized his multi-million dollar idea."

After a successful pitch on Shark Tank, Krause's once-rejected product has spawned a cleaning empire. Scrub Daddy boasted $220 million in sales in 2023, Krause said, and is now planning for a global expansion.

Some of the sharks, such as Mark Cuban and Barbara Corcoran, have made their fortunes through investments in technology startups, while others, such as Daymond John and Robert Herjavec, have built successful companies in industries such as fashion and technology.

It's important to note that while the sharks are paid to be on the show, the money they invest in the entrepreneurs' companies—if they choose to do so—is all their own. The money that Shark Tank investors offer is their own money and is not provided by the show.

Billionaire Mark Cuban amassed his fortune in several ways: a savvy bet on the early internet, cryptocurrencies, and even owning a professional sports team.

Lori Greiner has made 126 investments. Their latest investment was in Flora as part of their Angel on February 20, 2024.