Barbara Corcoran Net Worth 2024: How Rich Is the NYC Real Estate Queen?

Barbara Corcoran is renowned for her appearances on ABC’s Shark Tank and the success of her former company, The Corcoran Group.

Today, Barbara Corcoran’s net worth is roughly $100 million.

She’s a businesswoman, an executive producer of Shark Tank, a ‘Shark’, and an author.

As a woman who turned 1,000 dollars into a billion-dollar business empire, Barbara Corcoran’s story leaves us in awe.

That’s why, in this post, we’ll discuss how her net worth changed over the years, and how she became the star she is today to gain valuable insights to use in our own lives.

Barbara Corcoran’s Net Worth Breakdown:

While the precise breakdown of Corcoran’s assets and their contributions to her net worth remains undisclosed to the public, here are some general estimates on sources that contribute to her impressive wealth.

6 Fun Facts about Barbara Cocoran

1. Barbara Corcoran’s career started with a $1,000 loan: Barbara used a $1,000 loan from her then-boyfriend to start her first business, which she turned into a $66 million sale of The Corcoran Group.
2. Dyslexia didn’t hold her back: Despite struggling with dyslexia throughout her school years, Barbara turned her disadvantage into strength, becoming one of the most successful businesswomen in the world.
3. Shark Tank’s Most Successful Investor: Barbara has a remarkable 71% success rate on her Shark Tank deals, the highest of any of the Sharks.
4. Barbara has invested over $29 million on Shark Tank: She’s made more than 80 deals, including some of her biggest hits like The Comfy, which brought her millions in profit before she sold her stake.
5. She lost $100,000 in one of her Shark Tank deals: One of her rare bad investments was in the company “Toor Lockbox,” which failed to make it to market.
6. She owns a $13 million penthouse in NYC: Barbara’s real estate investments continue to thrive. She bought her dream home after spotting it while working as a messenger 26 years earlier!

Latest News & Controversies

In recent news, Corcoran has voiced her predictions on the U.S. housing market, suggesting that if interest rates drop by just 1%, housing prices will soar again.

She also discussed how sellers are likely to pocket commission savings rather than pass them to buyers, highlighting the persistent issue of housing shortages in the U.S. market, despite economic uncertainties.

Corcoran has also been in the spotlight for her strong opinions on real estate investments.

She often emphasizes that real estate is the best investment, as it’s one of the few avenues where substantial wealth can still be built despite economic fluctuations.

However, Corcoran has faced criticism for her sometimes controversial business philosophies. For instance, she has often advocated for making bold, even risky investments during economic uncertainty, a stance that not all financial experts agree with.

Barbara’s Early Life

Barbara Ann Corcoran was born on March 10, 1949, in Edgewater, New Jersey. She was raised in a busy household with nine siblings and studied at St. Cecilia High School before transferring to Leonia High School. She struggled with dyslexia, making school work much more difficult.

In 1971, Corcoran earned her degree in Education from St. Thomas Aquinas College despite her dyslexia. From there she dove into the job market and held a myriad of different positions before landing on her true calling: real estate. At one point, Corcoran said that she changed 20 jobs before she dipped into the real estate market.

In 1988, Corcoran married Bill Higgins, a former FBI agent and now retired Navy captain. They have two children together, Tom and Kate.

Barbara Corcoran Net Worth: How the ‘NYC Real Estate Queen’ Built Her Wealth

Barbara Corcoran labels herself ‘the New York City Real Estate Queen’. Her journey is inspiring – and very educational.

The About section on the official Barbara Corcoran website mentions that ‘her credits include straight D’s in high school and college’ but she is now worth an estimated $100 million. How did she do it? Let’s dive in.

The Creation and Success of ‘Corcoran Group’

Barbara Corcoran’s journey into the world of real estate wasn’t initially part of her plans; it took a nudge from her then-boyfriend to set her on this path. At the age of 23, she took on a job as a receptionist at a real estate firm owned by the Giffuni Brothers. Soon after she started working at the firm, her boyfriend Ray Simone offered her $1000 to start her own business. As she says: ‘The boyfriend didn’t work out, but the business did.’

The real estate firm Corcoran-Simone which she co-founded with Simone, started working in 1973. Seven years later, they broke up and Ray said to her: ‘You’ll never succeed without me’. He then married his secretary.

Well, she proved him wrong, right?

Simone might have paid the first $1000 for the business, but Barbara fought tooth and nail to turn it into success. Years later, her company became one of the most successful brokerages in the NYC real-estate market.

When Barbara Corcoran made her first money, she bought a new car for her parents. She once said in an interview:

“I had my Uncle Richie and his best friend drive the car down to Florida, put a big bow on the top, and park it in the driveway.”

The Corcoran Group started expanding rapidly and soon after opened new offices in NYC. In just a few years, it became recognized as a premier real estate company in the city.

In 1981, the Corcoran-Simone company became The Corcoran Group and Barbara retained full control over it. In 2001, she decided to sell the now very successful real estate business for a whopping $66 million.

According to Corcoran, she asked for 66 because 6 was her lucky number, even though the initial offer was $22 million.

Barbara sold the company to National Realty Trust, a subsidiary brand of Realogy Holdings Corp, but remained in the position as chairman until 2007.

Before the sale in 2001, Barbara Corcoran had received a previous offer to buy her business a decade earlier. However, the potential buyer withdrew from the negotiations shortly afterward.

Barbara Corcoran after the Sale of Corcoran Group

After selling The Corcoran Group, Barbara remained active in the real estate industry. She worked as a consultant for other companies and invested in real estate ventures herself. In 2006, she founded a venture capital firm that invests in early-stage startups called Barbara Corcoran Venture Partners.

Barbara Corcoran on ‘Shark Tank’

Barbara Corcoran’s journey from rags to riches was remarkable, but she gained widespread fame for her role as a shark on the television show ‘Shark Tank.’ She has been a part of the show for fourteen seasons, alongside fellow sharks:

• Kevin O’Leary
• Robert Herjavec
• Daymond John
• Lori Greiner
• Mark Cuban

During her TV appearances on the show, she made over 80 deals and invested $29 million in them. She is not the richest shark in the group (that would be Mark Cuban), but her success rate is the highest of all sharks, ranking at an impressive 71%.

However, not all of her investments have been profitable. One of the very few cases where Barbara was wrong was her investment in Toor Lockbox where she lost $100,000 because the product never entered the market.

Now, let’s explore some of Barbara Corcoran’s most profitable and successful deals on ‘Shark Tank.’

The Comfy

One of Barbara Corcoran’s notable and highly profitable investments on ‘Shark Tank’ was in a business called The Comfy. During a special Christmas episode in 2017, she invested $50,000 in the blanket-hoodie hybrid pitched by brothers Michael and Brian Speciale. They even sang an original jingle to promote their product.

Barbara secured a 30% stake in the business and was earning over $10 million in profits. However, her collaboration with Comfy had its share of challenges and, after many fights with the Comfy management, Barbara exited the company and sold her equity to one of its founders for $26 million.

Cousins Maine Lobster

In 2012, Corcoran invested $55,000 for a 15% stake in a company that sold gourmet lobster shacks on wheels.

The business is still blooming today. The entrepreneurs opened a 7,000-square-foot facility in Maine to ship lobster anywhere in the US and had grossed $3.5 million in sales by the end of season five. In Season Ten, Barbara shared that the business had made $40 million in sales.

Other Shark Tank Investments

Here are some other Shark Tank investments Barbara Corcoran has made over the years:

• $350,000 to Coverplay for 40% equity
• $300,000 to LOLIWARE for 25% equity
• $300,000 to MountainFlow Eco-Wax for a combined 20% equity with O’Leary
• $250,000 to Luna Magic for 30% equity
• $250,000 to Rapid Rope for 30% equity
• $200,000 to Pipsnacks for 10% equity
• $125,000 to The Real Elf for 25% equity
• $100,000 to Third Wave Water for 33% equity

Corcoran’s Published Works

Barbara has been authoring content from the beginning of her journey in the real estate world. Her journey in publishing began in the mid-1970s when she started distributing a newsletter for the real estate sector known as ‘The Corcoran Report.’

Between 2003 and 2011, Barbara wrote and published several bestselling books sharing her stories and expertise in the real estate and business world.

The three top-ranked books she authored are:

1. If You Don’t Have Big Breasts, Put Ribbons On Your Pigtails: And Other Lessons I Learned from My Mom
2. Nextville: Amazing Places to Live Your Life
3. Shark Tales: How I Turned a $1,000 into a Billion-Dollar Business

Corcoran’s TV Appearances

In 2017, Barbara competed on ‘Dancing with the Stars’ in the 25th season with her partner, Keo Motsepe. It wasn’t very successful considering that they were the first couple to be eliminated.

She’s also appeared on multiple TV shows including ‘Grace and Frankie’ in 2020 and ‘Drop Dead Diva’ in 2013.

Barbara Corcoran’s Podcast and Social Presence

Barbara Corcoran is now a social media influencer with viral videos across different platforms like TikTok. She has a trending podcast on iHeartRadio that you can subscribe to listen to 8 minutes of ‘straight talk and the confidence to make things happen’.

What Else Does Barbara Corcoran Invest In?

The majority of Corcoran’s net worth is from her Shark Tank salary, the money from the sale of the Corcoran Group, as well as her Shark Tank deals.

However, this is not the only thing she invests in. Let’s dive into Corcoran’s investment portfolio.

Real Estate

In 2001, Barbara and her husband bought a 2,700-square-foot apartment in Park Aforice for $3.5 million. They then bought a $13 million penthouse at Fifth Avenue in 2015. The latter is a home with 11 rooms, a landscaped terrace, and a solarium.

Now a popular Tik-Toker, Barbara went viral on the platform in 2022 with her quick tour video of the apartment in Manhattan. The apartment costs $10,000 a month in maintenance alone.

The story behind her home is very entertaining:

“I was working as a messenger 26 years ago. I came, I delivered a package, I saw the view out of her door right there, and I said, ‘If you ever sell this, ma’am, would you sell it to me?’ She called me 26 years later.”

@calebwsimpson

@barbara.corcoran Location: Manhattan Occupation: Queen of New York Real Estate

♬ Sunroof – Nicky Youre & dazy

Corcoran also has a $1 million LA mobile home she calls ‘her Taj Mahal’ on social media. It’s located in The Pacific Palisades.

Other Assets and Stock Investments

Barbara’s assets also include at least 6 cars and 3 luxury yachts. She recently bought her McLaren 720S for $600,000. Other cars she owns are:

• Jaguar F-TYPE
• Rolls-Royce Ghost
• Mercedes-Benz AMG GT
• Mercedes-Benz G-Class
• Range Rover Autobiography

She also has Cash reserves of over $20 million and a rich investment portfolio of 13 stocks valued at $15 million.

Here are a few of her stocks:

• Walmart
• AT&T
• Apple
• Costco
• Intel

While the details aren’t made public, Barbara has money in government bonds, and bank deposits, and has over 10 properties that she’s renting.

What Can We Learn From Barbara Corcoran’s Success?

Barbara Corcoran is proof that you can turn your life around with talent, hard work, and courage. From humble beginnings in a modest family, she ventured into the business world with just $1,000.

Today, she’s one of the Sharks, a multimillionaire, an influencer, and a respected voice in business circles.

What makes her story even more remarkable is her childhood struggle with dyslexia, a disability that challenged her academic pursuits.

Despite many challenges, Barbara has managed to build tremendous success in the real estate world. She’s followed her instinct every time and that helped her build a fortune. As Barbara says: “Don’t you dare underestimate the power of your own instinct”.