Barbara Corcoran Biography
Barbara Corcoran is a renowned businesswoman who turned a humble beginning into a remarkable success story. Born on March 10, 1949, in Edgewater, New Jersey, she grew up as one of ten siblings in a working-class family. Her father was a printing press foreman, and her mother was a homemaker who managed the household with resourcefulness and determination.
Struggling with dyslexia during her school years, Barbara found academics challenging but never let it dampen her spirits. She graduated from St. Thomas Aquinas College in 1971 with a degree in education. After college, she tried her hand at teaching but soon realized that her passion lay elsewhere.
At the age of 23, Barbara borrowed $1,000 from her then-boyfriend and co-founded a small real estate company in New York City called The Corcoran Group. Starting with just a small office and a handful of properties, she worked tirelessly to grow her business. Her knack for sales and her charismatic personality helped her stand out in the competitive New York real estate market.
Over the years, Barbara transformed The Corcoran Group into one of the city’s premier real estate firms. She became known for her innovative marketing strategies and her ability to spot market trends ahead of others. Her annual newsletter, “The Corcoran Report,” became a trusted source of information on real estate market conditions in New York City.
In 2001, after building the company to a formidable enterprise, Barbara sold The Corcoran Group to NRT Incorporated for a reported $66 million. However, retirement was not in her plans. She went on to become an author, speaker, and television personality, sharing her insights and inspiring others with her entrepreneurial journey.
Barbara Corcoran Net Worth
Barbara Corcoran’s net worth is a testament to her business acumen and savvy investments. As of recent estimates, her net worth is approximately $100 million. The significant portion of her wealth comes from the sale of The Corcoran Group, which brought her $66 million in 2001.
Beyond her real estate fortune, Barbara has diversified her investments by putting money into various businesses. Her role on ABC’s “Shark Tank” has allowed her to invest in promising startups and innovative products. These investments have not only expanded her portfolio but have also contributed to her net worth over the years.
Additionally, Barbara earns income through her books, public speaking engagements, and media appearances. She has authored several books, including “Shark Tales: How I Turned $1,000 into a Billion Dollar Business,” sharing her experiences and offering advice to aspiring entrepreneurs. Her dynamic personality and expertise make her a sought-after speaker at conferences and events worldwide.
Her wealth is not just measured in dollars but also in the impact she has made on the businesses she mentors. Barbara’s keen eye for potential and her willingness to take calculated risks continue to grow her net worth while helping others achieve their dreams.
Journey to Shark Tank
Barbara Corcoran’s path to becoming a television personality on “Shark Tank” is as interesting as her business career. After selling her real estate company, she was approached to participate in the show, which was looking for charismatic entrepreneurs to serve as investors and mentors to aspiring business owners.
Initially, Barbara wasn’t the first choice for the female investor role. She received a rejection letter stating that another woman had been selected. Undeterred, she wrote a letter to the producers explaining why she would be a better fit and highlighting her qualifications and experience. Her determination paid off when the producers reconsidered and offered her a spot on the show.
Since joining “Shark Tank” in its first season in 2009, Barbara has become a fan favorite. Her straightforward advice, combined with her empathy for the entrepreneurs, sets her apart on the panel of investors. She often shares her own experiences of overcoming adversity, connecting with contestants on a personal level.
Barbara’s participation in the show has allowed her to invest in innovative businesses that align with her interests and expertise. It has also provided her with a platform to inspire millions of viewers with her story. Her journey to “Shark Tank” exemplifies her tenacity and refusal to accept no for an answer.
Some Facts About Barbara Corcoran
- Overcoming Dyslexia: Barbara struggled with dyslexia throughout her childhood. Despite the challenges it presented, she used it as a driving force to work harder and prove herself.
- A Teacher at Heart: Before venturing into real estate, she worked as a teacher for a year. Although she left the profession, she often says that teaching prepared her for the challenges of running a business.
- A Natural Salesperson: Barbara held 22 different jobs by the time she was 23, including a stint as a waitress. Her diverse experiences helped her develop exceptional people skills.
- An Author: She has written several books, providing insights into her business strategies and life lessons. Her book “If You Don’t Have Big Breasts, Put Ribbons on Your Pigtails” offers unconventional advice for success.
- Philanthropy: Barbara is actively involved in charitable activities. She supports organizations focused on education, health, and entrepreneurship.
- Family Life: She is married to Bill Higgins, a retired Navy captain and former FBI agent. Together, they have two children, Tom and Katie.
- Podcast Host: Barbara hosts a podcast called “Business Unusual,” where she shares advice and answers questions from listeners about business and life challenges.
- Avid Swimmer: She stays active through swimming and has participated in several swimming competitions, showing her commitment to health and fitness.
- Real Estate Columnist: For many years, she wrote columns for publications like the New York Daily News, offering tips and trends in the real estate market.
- Iconic Personality: Known for her wit and no-nonsense attitude, Barbara has become an iconic figure in both the business world and popular culture.
List of Shark Tank Companies Invested by Barbara Corcoran
Throughout her tenure on “Shark Tank,” Barbara Corcoran has invested in a diverse array of companies. Her investments reflect her keen eye for innovation and her desire to support passionate entrepreneurs. Here are some of the notable companies she has invested in:
The Comfy: This company offers an oversized, wearable blanket that combines the comfort of a blanket with the convenience of a hoodie. Barbara invested $50,000 for a 30% stake. The Comfy has been a runaway success, with impressive sales figures since its appearance on the show.
Cousins Maine Lobster: Founded by cousins Jim Tselikis and Sabin Lomac, this food truck business brings authentic Maine lobster to locations across the country. Barbara’s investment of $55,000 for 15% equity helped the company expand nationwide, leading to significant growth and revenue.
Grace and Lace: A fashion brand specializing in women’s clothing and accessories, Grace and Lace became popular for their lacey legwarmers and stylish apparel. Barbara’s investment allowed the company to scale up production and reach a broader market. The founders also commit a portion of their profits to building orphanages in India.
Daisy Cakes: This bakery, founded by Kim Nelson, offers delicious, homemade cakes delivered straight to customers’ doors. Barbara invested $50,000 for a 25% share. Despite initial challenges, Daisy Cakes rebounded, achieving millions in sales over the years.
Pipcorn (Pipsnacks): A family business that produces mini popcorn snacks made from heirloom corn, Pipcorn caught Barbara’s attention for its unique product and branding. Her investment contributed to the company’s placement in thousands of retail stores.
The Dough Bar: Offering protein-infused doughnuts and treats, The Dough Bar provides healthier alternatives for fitness enthusiasts and those looking to indulge without the guilt. Barbara’s support helped them expand their product line and customer base.
Bee Free Honee: This company creates honey alternatives using apples, catering to vegans and those concerned about bee populations. Barbara’s investment aided in increasing their distribution and raising awareness about pollinator conservation.
Pork Barrel BBQ: A barbecue sauce and seasoning company that started small but, with Barbara’s backing, grew to be stocked in over 500 grocery stores nationwide. Her marketing expertise was instrumental in their expansion.
Q-Flex: Invented by a 13-year-old entrepreneur, Andrea Cao, Q-Flex is an acupressure tool designed to relieve muscle tension. Barbara was impressed by Andrea’s ambition and invested to help bring the product to major retailers.
Coverplay: Barbara’s largest deal on the show, she invested $350,000 for 40% of Coverplay. The company produces slipcovers for children’s playpens, focusing on hygiene and ease of use for parents.
Barbara Corcoran’s investments often go beyond financial support. She provides mentorship, guidance, and access to her extensive network. Her hands-on approach has helped many entrepreneurs turn their ideas into successful businesses.
