Last Updated on July 23, 2021
Who Is Lori Greiner?
Lori Greiner is an American entrepreneur, inventor, jewelry designer, and television personality. Greiner is most famous for being an investor/judge on the reality television show, Shark Tank, as well as its spin-off Beyond the Tank. She has received an Emmy Award and a Critics Association Award for her role on the Shark Tank show.
Lori Greiner is also known for her show ‘Clever & Unique Creations,’ from which she earned the nickname “Queen of QVC.” The self-made millionaire is the founder and current president of For Your Ease Only, Inc. According to her website, Lori has designed more than 700 products and has over 120 patents to her name.
|Full Name:||Lori Greiner|
|Popular Name:||Lori Greiner|
|Birth Date:||December 9, 1969|
|Birth Place:||Chicago, Illinois|
|Education:||Loyola University Chicago|
|Net Worth:||USD 150 million (as of April 1, 2021)|
|Source of Wealth:||Entrepreneurship, Reality Television, Book Sales, and Speaking Engagements|
|Height:||5′ 7″ (1.7 m)|
|Weight:||59 kg; In pounds: 130 lbs.|
Early Life and Career Information
Lori Greiner was born on December 9, 1969, in Chicago, Illinois. Greiner inherited her entrepreneurial skills from her parents. Her father was a realtor, whereas her mother was a psychologist. In addition to their respective jobs, Lori’s parents also had their own businesses. However, they divorced when Lori was only nine years old.
Lori Greiner attended Loyola University Chicago, where she majored in journalism and communications, as well as television and film.
While in college, Greiner worked for The Chicago Tribune. During this time, she also worked briefly as a jewelry designer and playwright. One of her most notable jewelry projects was the creation and patenting of a plastic earring organizer in 1996. The organizer could hold up to 100 pairs of earrings.
Around this time, Greiner had accumulated about $300,000 in student loans. However, her fortunes changed for the better when J.C. Penney picked up her earring organizer. The profits she received from the sale of the product’s prototype allowed her to clear her entire student loans within just 18 months.
Within three years of its launch, Greiner’s design and patenting business had generated more than $10 million in sales.
Banking on the success of her first patented product, Greiner continued patenting numerous consumer products, including jewelry storage, electronic items, travel accessories, and household items. Her products soon appeared on the shelves of major retail outlets like ‘Bed, Bath and Beyond.’
Greiner later transitioned into QVC. In 2010, she launched the Clever & Unique Creations show on the QVC channel as part of her ‘For Your Ease Only, Inc.’ company.
Two years later, Lori joined the television series Shark Tank as a judge cum investor. Some of the notable startups she has invested in in Shark Tank include Scrub Daddy, Bantam Bagels, Readerest, Squatty Potty, Paint Brush Cover, Sleep Styler, Holder Your Haunches, Drop Stop, and Simply Fit Board. Greiner continues with her role as judge and investor on Shark Tank, alongside fellow investors Kevin O’Leary, Mark Cuban, Robert Herjavec, Daymond, John, and Barbara Corcoran.
Lori Greiner’s Net Worth
As of April 1, 2021, Lori Greiner had a net worth of $150 million. She has earned much of her wealth from her career as an entrepreneur, designer, inventor, and television personality. Lori makes $50,000 per episode of Shark Tank, whereas her company For Your Ease Only, Inc. brings in around $5 million annually. For Your Ease Only, Inc. remains her most profitable business venture to date. As of 2010, the brand had generated over $350 million in sales.
Some of Greiner’s wealth also comes from book royalties. In March 2014, Greiner authored a book titled ‘Invent it, Sell it, Bank it! – Make Your Million Dollar Idea into a Reality.’ The book chronicles her journey as an entrepreneur and inventor. Shortly after publication, the book became one of the top ten business books on Amazon, as well as the top business books on the Wall Street Journal.
Speaking engagements is another major income earner for Lori Greiner. Greiner has been a speaker for high-profile companies like PayPal, Chase, Adobe, IBM, American Heart Association, and Coldwell Banker.
Lessons from Lori Greiner
1. Take full control of your investments
Unlike many female investors, Lori Greiner doesn’t mind getting her hands dirty. She prefers a side-by-side approach that allows her to take full control of her investments, from their nascent stages to full maturity.
2. Be a good listener
Greiner is noted for her great listening skills. She understands that being a keen listener is crucial to understanding the dynamics of any situation.
3. There’s no substitute for hard work
Lori Greiner has claimed on multiple interviews that she’s a being a night owl. Which only proves that hard work has no substitute.
Famous Quotes by Lori Greiner
“Dear optimist, pessimist, and realist – while you guys were busy arguing about the glass of wine, I drank it! Sincerely, the opportunist.”
“There are always things that are needed. There are always ways to do things better. It’s all about offering solutions.”
“You have to believe in your product and what you’re doing and other people will follow.”
“A brilliant idea doesn’t guarantee a successful invention. Real magic comes from a brilliant idea combined with willpower, tenacity, and a willingness to make mistakes.”
“When I had challenges, it taught me to be more on top of it for the future. Things go wrong all the time when you are running your own business, but it’s how you perceive it and deal with it that matters.”
Lori Greiner is an American entrepreneur, inventor, and reality television personality who has a net worth of $150 million. Greiner began her professional career as a jewelry inventor before transitioning to entrepreneurship and reality television. She’s currently a judge at the award-winning reality show Shark Tank.