Barbara Corcoran, a renowned businesswoman, investor, consultant, author, and television personality, has made a significant impact on the world of entrepreneurship. With an estimated net worth of $100 million, she has become an influential figure among aspiring entrepreneurs and investors alike. Although she is not a billionaire, her success story serves as an inspiration to those looking to pursue their dreams and make their mark in the business world.
In 1973, Barbara took a bold step in her career and co-founded The Corcoran-Simonè with her boyfriend at the time, starting with a $1,000 loan. Over the years, she nurtured her real estate business and achieved great success, eventually leading her to become one of the most respected and sought-after investors in the industry. Best known for her role as a “Shark” on the popular television show Shark Tank, Barbara has continued to expand her empire and share her expertise with aspiring entrepreneurs.
From humble beginnings, Barbara Corcoran has become a symbol of tenacity and determination, amassing a significant wealth through her ventures and television appearances. As a successful businesswoman and investor, her story offers valuable lessons and insights for those aspiring to achieve their own financial success.
Early Life and Education
Barbara Ann Corcoran was born on March 10, 1949, in Edgewater, New Jersey, United States. She grew up in a working-class Irish-Catholic family as the second of ten children. Her mother’s name was Florence, who passed away in 2012.
Growing up, Barbara faced challenges in her education due to her dyslexia. This learning difference made school difficult for her, but it did not stop her from pursuing higher education and eventually finding success in her career.
Barbara attended St. Thomas Aquinas College, a small liberal arts college in Sparkill, New York. While studying at the college, she displayed remarkable determination and resilience in overcoming her academic challenges. With the support of her family, teachers, and especially Sister Florence, who helped her navigate her challenges with dyslexia, Barbara successfully completed her degree.
Ultimately, Barbara’s early life experiences and education provided her with the foundation and self-confidence necessary to pursue a career in real estate and, later on, become an investor, author, and television personality.
Career
Receptionist to Real Estate Mogul
Barbara Corcoran began her career as a receptionist. After meeting Ray Simone, she cofounded a real estate company called Corcoran-Simone in New York. Eventually, she took control of the company, renaming it The Corcoran Group. The company gained success in Manhattan’s real estate market, and by 2001, she had grown it into a prominent agency. That year, she sold The Corcoran Group to NRT for $66 million and exited the firm.
Television Personality
Corcoran’s impressive entrepreneurial journey in the world of real estate caught the attention of television producers. She landed appearances on shows like “Larry King Live” and became a syndicated columnist for the New York Daily News. Her TV career took off when she joined the cast of ABC’s “Shark Tank” as one of its original “Shark” investors. Since then, she’s appeared in all 14 seasons of the program, collaborating with numerous entrepreneurs and investing in their projects.
According to Sharkalytics, Corcoran’s investments on “Shark Tank” are diverse, spanning various industries and business segments. Her partnership with fellow “Shark” Lori Greiner has enabled her to contribute her real estate expertise while also learning from Greiner’s retail acumen.
Author and Motivational Speaker
In addition to her real estate and television ventures, Barbara Corcoran has written several books. Her publications cover topics such as her journey in the real estate market and offer advice for entrepreneurs looking to succeed in their ventures. As an author, she provides readers with clear, knowledgeable insights based on her own experiences.
Beyond writing, Barbara Corcoran also uses her platform as a motivational speaker. Her confident and neutral tone has inspired many, and she often shares her insights, guidance, and stories from her entrepreneurial journey to help others achieve their goals in business.
Shark Tank
Fellow Sharks
On the popular reality show Shark Tank, which airs on ABC, Barbara Corcoran shares her expertise and investments alongside a panel of other renowned investors and entrepreneurs. These fellow “sharks” have included the likes of Daymond John, Robert Herjavec, Mark Cuban, Kevin Harrington, and more. Each shark brings their own unique skills and backgrounds, all aiming to help aspiring entrepreneurs achieve their dreams by providing financial backing and valuable advice.
Notable Investments
During her time on Shark Tank, Barbara has made numerous investments in various businesses and industries. A few notable examples include:
- Coverplay: Barbara invested $350,000 in exchange for a 20% stake in this company specializing in slipcovers for children’s play yards, enhancing both comfort and safety.
- Cousins Maine Lobster: With an initial investment of $55,000 for a 15% stake, Barbara backed this food truck business offering authentic Maine lobster rolls. The company has since expanded nationally, with several franchises across the United States.
By consistently demonstrating her keen eye for promising opportunities and providing invaluable guidance to entrepreneurs, Barbara Corcoran has continued to solidify her reputation as a successful investor and influential figure on ABC’s Shark Tank.
Personal Life
Family
Barbara Corcoran was born on March 10, 1949, in Edgewater, New Jersey. She is married to Bill Higgins, a former FBI agent, and the couple has two children together. Their son, Tom, was conceived through in vitro fertilization, while they adopted their daughter, Katie.
Hobbies
In her spare time, Barbara has been known to participate in various activities outside of her business pursuits. For example, she was a contestant on the popular television show “Dancing with the Stars” during its 25th season. Additionally, she enjoys spending time with her family and friends in their Park Avenue and Fifth Avenue residences in New York City. These properties feature luxurious amenities such as a solarium and a conservatory to entertain guests.
Barbara also has a passion for interior design and often collaborates with her longtime friend, Bruce Littlefield. Together, they have worked on various projects, including updating and redesigning parts of her own homes, as well as advising others on how to transform their living spaces.
Net Worth
As of July 2023, Barbara Corcoran’s net worth is estimated to be roughly $100 million. She is an American investor, businesswoman, author, and television personality best known for her role as an investor on the popular reality TV show, ‘Shark Tank.’ Her journey is often characterized as a rags-to-riches story. Let’s take an in-depth look at the various aspects that contribute to her net worth.
Reviews and Recommendations
Barbara Corcoran’s success stems from her exceptional work in the real estate sector. She founded The Corcoran Group, a residential real estate company, which has eventually led her to become a self-made millionaire. She has often shared her knowledge and expertise on various platforms such as CNBC and through columns in Redbook and The Daily Review. Her advice on investments, franchises, and wealth management has made her a sought-after motivational speaker in the industry.
Barbara Corcoran’s Home
Although not a billionaire, Barbara Corcoran lives a luxurious lifestyle. She owns a stunning penthouse in California with ocean views, a terrace, and all the comforts one could ask for. The property is reportedly worth $800,000. Apart from her California home, she also enjoys a mobile home, further showcasing her diverse real estate portfolio.
Podcasts
Barbara Corcoran is the host of two popular business podcasts that feature her experiences, insights, and tips for success. She’s also the author of “Shark Tales: How I Turned $1,000 into a Billion Dollar Business!” which chronicles her incredible journey in the demanding world of real estate and entrepreneurship.
Key Investments
- Forefront Venture Partners
- National Realty Trust
In addition to her vast real estate holdings and podcasts, Barbara Corcoran has investments in other business ventures. She has invested in numerous startups through her appearances on ‘Shark Tank’ and beyond. One of her most notable investments includes a $468 million investment in one of the show’s businesses.
