Shark Tank star Barbara Corcoran has never saved a dime, and spent $66M from real estate empire sale
Fortune • • business
Key Points:
- Barbara Corcoran, a real estate mogul worth around $100 million, shared on the Burnouts podcast that she does not believe in saving money and has never saved a dime in her life, instead focusing on spending and giving away money to family, friends, funds, and charities.
- Corcoran recounted selling her real estate business, the Corcoran Group, in 2001 for exactly $66 million—a figure she chose because it was her lucky number—and emphasized that her wealth came from letting money flow rather than saving it.
- Despite Corcoran's unconventional approach, recent surveys highlight financial struggles for many Americans: 55% are just keeping up or falling behind financially, with a majority carrying some form of debt for essentials or unexpected expenses.
- Nearly 24% of Americans have no emergency savings, with younger generations such as Gen Z and millennials disproportionately affected, forcing many to rely on borrowing to cover costs.
- Corcoran contrasts her experience with current realities, emphasizing her mother's advice that "money is meant to be spent," and attributing her success to embracing the flow of money rather than saving it.
