How Much Do The Sharks Make On Shark Tank? [Salary 2023ed.]
Shark Tank is one of the popular TV shows that is still running in 2023. Here, the show has a panel of judges known as sharks. They listen to business proposals and make investments using their money upon consideration. That may make you ask, “How much do the sharks make?”
Each shark in Shark Tank is paid about $50,000 per episode to be in Shark Tank. This value is an estimation as the creators never reveal the salary of the judges. Variety estimated this amount during a 2016 highest-paid TV actors roundup.
But this amount was far less when the show first aired back in 2009. To know more about the sharks and their net worth, let’s jump right in.
How Much Do The Sharks Make In Each Episode?
The average salary of each shark has changed over the years. Back when the show was still finding its audience, the sharks were paid a lot less than today.
Back in 2014, Mark Cuban, one of the sharks, was offered $30,000 for each episode that he stars in. However, he was not happy with it, and there were reports of back-and-forth negotiations with the producers. Eventually, he was offered increments over the next few seasons.
According to Variety, in 2016, the sharks were paid $50,000 for each episode of Shark Tank. Now, in 2023, this value is sure to get a hike, but we cannot exactly tell you how much this has increased.
Shark Tank airs an average of 25 episodes each season. Using this and the salary in 2016, we can say that the sharks make an average of $1.25 million per season.
This may be a lot for some, but the top-earning TV actors make upwards of 1 million dollars per episode of popular TV shows such as Big Bang Theory.
But some of the sharks already are way above the net worth of most television actors. This is due to their ventures, startups, and businesses that they are involved with outside of the TV show.
What Is The Net Worth Of The Sharks In Shark Tank?
The panel of investors in Shark Tank has remained unchanged since Season 2. Daymond John, Kevin O’Leary, Barbara Corcoran, and Robert Herjavec were there right from the first season.
Mark Cuban and Lori Greiner joined from seasons 2 and 3, respectively, as guests. From then on, all of them have remained as the show’s main investors.
Let’s look at their net worth below.
1. Mark Cuban
Among all the sharks, Mark Cuban has the largest net worth. He is worth $5.2 Billion and owns the Dallas Maverick in the NBA. Besides this, he owns many startups and has a stake in Magnolia Pictures.
2. Kevin Leary
Kevin Leary is the second richest shark with a net worth of 400 million dollars. He sold his software company, SoftKey, to Mattel back in the nineties. He owns his investment company and helps startups grow by investing in them.
2. Daymond John
Daymond John has a net worth of 350 million dollars. He founded his apparel company, FUBU, which made him a multi-millionaire. Now, he runs a consulting firm that gives insights to other businesses to help them expand.
3. Robert Herjavec
Robert Herjavec has a net worth of 300 million dollars. He is the owner of Herjavec Group, which is a leader in Cyber Security worldwide. He became a millionaire by selling security software to ATT back in the 90s.
4. Lori Greiner
Lori Greiner, known for her show Clever and Unique Creations, is more accustomed to products that can become instant hits. She has a net worth of 150 million dollars thanks to over 120 patents for household products. Her successful investments in Shark Tank made her one of the fan-favorite sharks in the panel.
5. Barbara Corcoran
Finally, Barbara Corcoran has a net worth of 100 million dollars. She started her real-estate firm, the Corcoran Group, back in the 70s. She sold it for 66 million dollars, famously starting it with only 1000 dollars.
Which Shark Made The Most Money On Shark Tank
The production company or the sharks never reveal how much they made from a specific deal. And not every deal brings fruition to these investors.
However, these are some of Shark Tank’s best investments so far:
1. Bombas
They make comfortable socks and T-shirts. Daymond John invested $200,000 for a 17.5% stake in the brand. Since then, the brand has acquired $225 million in sales over its lifetime.
2. Scrub Daddy
The company by Aaron Krause made soap sponges, which become soft in warm water and firm in cold water. Lori Greiner invested $200,000 for a 20% stake. The lifetime sales skyrocketed to 209 million dollars after coming into Shark Tank.
3. Squatty Potty
It makes toilet stools for better bowel movements. Lori Greiner put 350,000 dollars for a 10% stake in the business. The result? More investments followed, and the sales jumped to 175 million dollars till now.
4. Simply Fit Board
They make exercise boards. Once again, Lori Greiner saw potential and put in $125,000 for a 20% stake. The company has raked in 160 million dollars until now in sales.
Does Every Deal Go Through In Shark Tank?
Not exactly. Sometimes, there are instances where the sharks and entrepreneurs shook hands, but the deal did not come off. This can happen when the entrepreneur and sharks do not come to an agreement.
The entrepreneurs sometimes do not want to close off the deal. Because they want the company to get exposed to the audience and bask in the Shark Tank Effect.
This is basically when a product experiences tremendous growth after appearing on Shark Tank. Take PetPlate, for example. Even after failing to secure a deal, they went on to get $30 million in investments and now are a recognized brand countrywide.
Then there is when the sharks do not go ahead with the contracts. Because every investment requires detailed investigation, and if they find the values shown in the pitch do not add up, they may cancel it.
Related Questions
Now you have an idea about the money that the sharks make on Shark Tank. But if you have additional queries, this section will answer those.
While the individual salaries of the sharks are not revealed, they get paid an estimated 50,000 dollars to appear on each episode of Shark Tank. Among them, Mark Cuban is the richest shark with a net worth of 5.2 Billion dollars.
Yes, the sharks on Shark Tank agree to invest after they know everything about the business. Often, they will consult with their teams and ask questions about the company and their revenue. After a final negotiation, the deal is finalized, and the investment goes through.
If no deal happens on Shark Tank, then there is no investment made to the business. However, many businesses are available for the sharks to put their money into and make a profit off it.
Conclusion
The Sharks have become very popular due to how they make the right choices and put their money into a business. The show has caught the attention of millions worldwide, and more people are now looking to go into investments.
I hope you got the information you were looking for in this article. Which means it’s time for us here to say goodbye.
