Blake Mycoskie has had a fascinating career of entrepreneurship and success, one that has taken him to many markets and sectors. Over the years, he has done everything from competing in beauty pageants to races around the world. His high-impact appearance on “Shark Tank,” though few so far, has already helped at least one business get the chance that it needs to thrive.
Personal History
Blake Mycoskie was born in Arlington, Texas, the son of a successful surgeon and author. Blake was a competitive athlete throughout his time at St. Stephen’s Episcopal School and even earned a partial tennis scholarship from Southern Methodist University in 1995. Focusing on philosophy and business, he dove deep into his studies after a serious Achilles injury ended his tennis career.
Mycoskie wasted no time getting on his feet after graduating, launching EZ Laundry immediately after leaving school.
This dry cleaning service focused heavily on SMU to meet the needs of students and eventually employed more than 40 people and serviced three universities in the area. Mycoskie sold the company to his partner in 1999 after it earned around $1 million total in sales.
Mycoskie Media and Reality Television
After selling EZ Laundry, Mycoskie formed Mycoskie Media in Nashville. This outdoor billboard company marketed the area’s country music and was very profitable.
Mycoskie sold the company to Clear Channel nine months after launching it and, intrigued by the show “Survivor,” he and his sister applied for the cast and ended up applying for “The Amazing Race” and finishing third in the second season.
Relocating to Los Angeles after this, Mycoskie founded the cable network “Reality Central” and raised $25 million to showcase reality television. Though it eventually closed, Mycoskie went on to form various other firms, including DriversEd Direct and Closer Marketing Group, a viral marketing team.
A trip overseas exposed him to serious poverty, causing him to form Shoes for Better Tomorrow or TOMS, a charitable organization that has donated over 10,000,000 shoes to those in need.
His most recent success includes Madefor, a wellness program that helps people adopt sustainable habits for their body and mind and helps create practical changes in lifestyle for people who need them.
They’re based on real scientific literature and studies and include physical and emotional programs. Launched in 2020, it includes millions of subscribers paying a fair monthly rate to get premium access.
Other Career Moves By Mycoskie
Mycoskie eventually expanded Toms to include eyeglasses, created the Sea Foundation to help with distributing these glasses, published a book about social entrepreneurship, created Toms Roasting Company to create fair-trade coffee, and eventually solid 50% of Toms to Bain Capital, donating 50% of all of his profits to help create a fund for future social entrepreneurship.
His philanthropic work has earned him many honors, including the Cannes LionHeart Award in 2016 and the Secretary of State’s Award of Corporate Excellence. He has also been named in People Magazine’s “Heroes Among Us” listing and was named among “America’s Most Promising Social Entrepreneurs” by Bloomberg Businessweek in 2008.
Net Worth
During his lengthy career, Blake Mycoskie has worked as an entrepreneur, a screenwriter, author, film director, producer, actor, and general business person. His unique and expansive career has mostly jumped from one success to another and has made him a multi-millionaire. The most recent estimations of his wealth found him to be worth around $300 million.
Mycoskie’s worth would be higher were it not for his many philanthropic donations. Like many new millionaires, he regularly donates much of his personal worth to causes. Beyond his work with Toms, he has given money to help support various medical causes and educational programs. Many of these donations are kept low-key to minimize publiclity.
Shark Tank Details
Blake Mycoskie appeared on season 12 (2020-21) of “Shark Tank,” popping up on two different episodes. He appeared on the first episode alongside long-time show members Daymond John, Kevin Hart, Mark Cuban, and Lori Grenier. Other returning guests that season included Kendra Scott of Kendra Scott LLC and Alex Rodriguez, a former baseball player, and current entrepreneur.
The first episode featured several investment options, including a paint storage cup, a portable electric car charger, a germ-killing spray, and a high-performance blanket. Mycoskie then appeared on episode six with the same cast. Investment options included vegan beef jerky, a dog face mask, canned beverages, and eco-friendly charcoal made from recycled sawdust.
Best/Worst Shark Tank Investments
So far, Blake Mycoskie has faced eight different “Shark Tank” pitches and has only bought into one. He invested in the very first pitch he ever faced in season 12’s first pitch for TouchUp Cup.
This innovation, created by father-and-son team of Jason and Carson Grill, is designed to store used paint more effectively and easily. The team was particularly impressed by 15-year-old Carson’s professionalism and intelligence.
This product was already present in over 4,000 locations and was clearly something that the public wanted. However, the Grills wanted a little startup capital and someone who could help them grow more effectively. They wanted $150,000 and offered 10% equity in the product. Daymond and Blake immediately got into a bidding war, though both had concerns with running day-to-day operations.
Daymond stated that he could not help run the company in a day-to-day way and was not willing to bankroll purchase orders. By contrast, Blake was willing to help invest with purchase orders because he felt it was important to help the company. He offered $200,000 to help the company and asked for 25% equity. By contrast, Daymond offered the same cash at a lower 17.5% equity.
In spite of Daymond’s lower equity demand, the Grills went with Mycoskie because he showed more genuine passion for the project and offered to cover purchase orders. So far, this was Mycoskie’s only investment, and it has been a good one, continually expanding since his cash infusion. Perhaps he will appear in later seasons and provide further updates on the show.
