Robert Herjavec Net Worth
This article is about ‘Robert Herjavec net worth‘. Robert Herjavec is a Canadian Croatian entrepreneur.
Celebrity Herjavec is known for appearing on Canadian CBC Dragons Den. Although he is even better known for becoming a shark on ABC’s Shark Tank.
Before appearing on these two shows he had built his fortune from internet security.
Jump to this section of the article:
- Robert Herjavec net worth…
- Herjavec sold his first business for $30.2 million…
- So where did work-life begin for Robert Herjavec?
- Reflecting on his business journey from a Croatian immigrant to Canada…
- Shark Tank Robert Herjavec…
- Herjavec’s most profitable Shark Tank investment and contributing most to his net worth…
- The personal life of Robert Herjavec has had an effect on his personal wealth…
- Robert Herjavec Quotes…
My interest in Robert Herjavec is three-fold:
- He is a successful entrepreneur and I love finding out about successful people.
- Robert Herjavec made his wealth from internet security, which has been a key subject for businesses in recent times.
- Herjavec is unusual as he has managed to appear on two angel-investor focused TV shows – Dragons Den and Shark Tank.
Robert Herjavec net worth…
Borne in 1962, so Robert Herjavec is a multi-millionaire at the age of 54.
“Nobody starts a great business for a pay cheque.” Robert Herjavec.
You know when you’ve made it with a significant net worth when you have your very own private jet. Not only that, you have your name of the side of the private jet too.
Meeting fellow entrepreneur or the king of entrepreneurs…Sir Richard Branson:
Robert Herjavec is known for being a serial entrepreneur, with his first major success coming from BRAK Systems. BRAK systems he started from his basement in 1990. To attract employees to his new small business he made it somewhere employees would want to work, so made work fun. In this business he took other people’s technology and integrated it into companies.
In 2014 the business expanded from Canada into the US and then later into the UK through the purchase of a company. After adding Australia to their overseas businesses, around 35% of the business is now outside Canada.
Herjavec sold his first business for $30.2 million…
BRAK Systems was a Canadian internet security company, which he sold to AT & T for $30.2 million in 2000. After he sold the business he became a stay at home father, as his then wife Diane Plese wanted to work.
This success was what set his path of more successes in business. However, he went from having his own business to working for Ramp Network as vice president of sales. Within a very short space of time it’s likely that he would have added to his net worth when this business was sold to Nokia for $225 million, as he probably had an equity interest in the business.
In 2003 he started his present business the Herjavec Group with $20,000 and two other colleagues he worked with. The Herjavec Group is an information security business. Once the three new entrepreneurs worked out that they needed new technology in order to succeed, AKA anti-spam software, this business new became one of the fastest growing technology companies. This makes Robert a technopreneur.
A Cybersecurity adviser to the government…
As a result of his expertise in this field he served as a Cybersecurity Advisor for the Government of Canada. He also was present at the White House Summit on Cybersecurity, in addition to being a member of the U.S. Chamber of Commerce Task Force for Cybersecurity.
So where did work-life begin for Robert Herjavec?
Aged just 22 Robert Herjavec got a job at a TV station after graduating from Toronto University in political science and English.
He landed this job, as the TV station were looking for someone who could speak the Serbo Croatian language.
He became a field producer for the company and helped cover the winter Olympics in Sarajevo.
After this job he persuaded the founder of Logiquest to hire him in 1985, which is a business that sold mainframe emulation boards to Sun Systems and IMB.
He began working for a zero salary for the first six months, and paid his way by waiting tables.
“Everybody who I’ve met who wants to build a great business has a burning passion and desire to be great at something.” Robert Herjavec.
Reflecting on his business journey from a Croatian immigrant to Canada…
Reflecting back on how he made his money and his journey in business from when he first started out, he comment on The Exchange about coming from Croatia with nothing: “Nobody starts a great business for a pay cheque.”
In this interview he comments: “Everybody who I’ve met who wants to build a great business has a burning passion and desire to be great at something.”
In the same interview, he talks about his Dad escaping from jail to go to Canada. His dad was in jail for being anti-communist.
Robert Herjavec talks fondly about his father…
He talks fondly about his father saying that they came to the country with one suitcase. Herjavec admired how hard his father worked, saying how he gave him the opportunity in life that he has.
Robert has always had this need to do something great with his life, also commenting that this is a typical immigrant story.
He says that “today is the best time to start a business, because you have access to cloud computing and resources as anybody else.” However, he also remarks: “But it’s also the worst time to start a business because there’s so much competition.”
From humble beginnings to ringing the bell on NYSE with the name of his company “Herjavec Group” emblazoned everywhere.
Shark Tank Robert Herjavec…
Robert is a leading investor on ABC’s Shark Tank show in America. Shark Tank is is a similar concept to Dragon’s Den, another show that Herjavec has starred on in Canada, which is where his celebrity status began. By moving to the more popular US show Shark Tank his celebrity status increased hugely.
Herjavec is known as the ‘Nice Shark’, who is unlike fellow sharks Mark Cuban and Kevin O’Leary, who are both known for being the harshest panelists on the show.
“It’s critical to find continuous competitive advantages that are constantly evolving. Whatever your advantage is today, if it’s not fundamentally different or better in a year, somebody is going to knock you off, make it cheaper, do it better. So you always got to be moving that bar up.” Robert Herjavec in an interview on Forbes
Shark Tank Robert with the Shark Tank cast or also known as the “Shark Tank Sharks.” Here he is seen with fellow Sharks Mark Cuban, Daymond John, Kevin O’Leary, Barbara Corcoran and Lori Greiner.
Shark Tank investments are significantly higher than Dragons Den investments…
Compared to the UK’s Dragon’s Den, America’s Shark Tank investments are much higher. One such investment is SynDaver Labs. This is a company that appeared on the show where Robert pledged $3 million for 25% of the business. Syndayer is a company that sells sophisticated synthetic human tissues and body parts.
Robert Herjavec’s investment in Tipsy Elves increased its annual sales from $900,000 pre-Shark Tank show in 2013 to $14 Million by 2015…representing a 156% increase
In an interview with Forbes, when Robert from Shark Tank was asked about the most profitable investment he’s made on the show, he first explained about Keen Homes. This is a company where he’s seeing a lot of upside. The business makes a smart vent for homes to improve the air flow to make home heating or cooling more efficient.
An investment in quantum terms that was one of the highest valuations in Shark Tank history. The bid of $750,000 for a 13% share of equity in Keen Home, valued this business at over $5.7 million. This business was transformed from $1 million sales pre-show, to $5.8 million for 2016. A 5.8-fold increase in sales.
In the same Forbes interview Shark Tank Robert Herjavec revealed that although Keen Homes had a turnover of just under $1 million before they came on the show, their turnover for the year forward from April 2016 was project at $5.8 million.
Herjavec’s most profitable Shark Tank investment which contributed mostly to his net worth…
However, the most profitable investment and the one that will probably add the most to Robert Herjavec’s net worth is Tipsy Elves. A business with high margins and where there has been plenty of partnership marketing opportunities. This business makes sweaters for colleges.
The deal he struck with Tipsy Elves was $100,000 for a 10% equity stake in the business. The two entrepreneurs who owned Tipsy Elves went from $900,000 in revenue in 2013 to $14 million by 2015. That’s an impressive 15.6-fold increase in revenues.
Related: Lori Greiner invested in the biggest success story in Shark Tank history. The Scrub Daddy. For an investment of $200,000 for a 20% stake, the business has now had revenues in excess of $75 million.
He was also asked about how he determines the fair value of a business; his reply “whatever I am willing to pay.” In other words a business gets sold or investment where there’s a willing buyer and a willing seller.
Shark tank can get very heated…
Robert has talked about how the Shark Tank show can get very heated between the Sharks. For a long time he actually hated Mark Cuban. The exchanges are pretty emotional and Herjavec is known to walk off-set, taking his mothers advice of “if you can’t say anything nice, I should say anything at all.” This comment was when he was referring to an argument between himself and Lori Greiner and Mark Cuban.
However, despite his heated argument with fellow shark, he is seen wishing Lori Greiner a Happy Birthday on Instagram. Also commenting that she is one of the smartest sharks I’ve had the pleasure of sitting besides.
Something that was a surprise to Herjavec about the Shark Tank show is how many young entrepreneurs that have been inspired by the Shark Tank. There are kids the age of 7 and 8 watching the show and being inspired in business.
Robert Herjavec leadership style…
Robert Herjavec leadership style is to be inspiring and empowering. However, due to the business he is in, where indecision is not an option and time is of the utmost importance, he is known also to be dictatorial on occasion.
His leadership style is a keep a competitive drive.
The personal life of Robert Herjavec has had an effect on his personal wealth…
Robert Herjavec is now married to Dancing With The Stars Kym Johnson after he met her on the show. Robert had three kids with ex wife Diane Plese, but going through divorce obviously had an affect on his personal net worth. The divorce from his first wife was difficult for Herjavec, and it took him time to get over the breakup, where he evening had suicidal thoughts.
As Herjavec lived with his ex-wife in Canada, Canadian law states that assets acquired during marriage (which in Robert Herjavec’s case wold include some Shark Tank investments) must be divided equally. Whereas assets that are acquired beforehand, can be kept by each spouse.
However, with new wife Kym he is noted in the Daily Mail as having a prenup limiting her to $100,000 per year of marriage, capped at $1 million. This should protect his net worth should his second marriage go wrong.
A significant portion of Robert Herjavec’s net worth shared with his ex-wife through divorce…
As Plese married Herjavec in 2000, she would receive a significant portion of Robert Herjavec’s net worth. This would include 50% of the value of the Herjavec Group, which is the security business he founded in 2003. This is assuming a prenuptial agreement didn’t exist. Although the details of his divorce to ex-wife Diane Plese are unknown, it is estimated that he paid out somewhere in the region of $50 to $75 million of his net worth to her.
One of the hardest things for him was not seeing his children, who for a while didn’t speak to him.
But now he is happy in his relationship with Kym Johnson. He met Kym on Dancing With The Stars Show. Already a celebrity entrepreneur, Herjavec became an even bigger household name after appearing on this popular US dance show.
Robert Herjavec Quotes…
“‘Some day’ isn’t a real day like Monday or Tuesday; It’s just another word for ‘never‘”
“To succeed in business you have to do three things: Work your butt off, be extravagant with your dreams, but practical with your expenses, and avoid thinking about failure.”
Robert is a keen racing fan and compares business to driving…“You have to stay laser-focused when driving a car over 200 miles an hour, and the same approach is required when growing a business in today’s world of rapidly changing technology.”
Robert Herjavec book…
Herjavec has actually written three best selling books. These books include Driven, The Will to Win and You Don’t Have to Be a Shark: Creating Your Own Success.
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