Although his path to success hasn’t always been straightforward, Robert Herjavec is today one of the most well-known business personalities in North America.
Born in the city of Varaždin in what is now modern-day Croatia, Robert grew up on his uncle’s farm with his loving, if somewhat poor, extended family.
As Robert’s father was a target for the former-Yugoslavian government due to his outspoken criticism of the communist regime, the family decided to leave the country and resettle in Canada. The young Robert landed in Halifax, Canada, when he was just eight years old, and not yet able to speak the native language. He spent the first eighteen months of his time there living in a basement with his mother and father.
Despite this inauspicious beginning, Robert went on to graduate from the University of Toronto, and was ready to go out and make his mark on the world.
Where Did Robert Herjavec Make His Fortune?
Soon after leaving college, Robert embarked on his nascent business career with several positions in various Canadian film and television production companies.
He would end up back in his native Yugoslavia covering the 1984 Sarajevo Winter Olympic Games, but, because of a shortage of work in the industry, he applied for other jobs in his spare time.
One of these jobs was with the technology company LogiQuest. Robert – despite being under-qualified for the position – landed a salesperson’s role selling computer mainframes, largely, he claims, because he offered to work for free during his first six months with the company.
He was obviously successful in his job, and he climbed rapidly up the organization’s ranks to eventually become the company president. Sadly, he was later fired from the firm, and, needing cash to pay his mortgage, Robert set up his own business.
So, in 1990, his new venture began. Originally working out of his own home, Robert created BRAK systems, a technology company specializing in Internet Security.
The industry was new at this time and was expanding rapidly. Robert took advantage of this, and BRAK Systems quickly rose to become Canada’s premier Internet Security provider. His focus on recruiting the best talent from other companies, and keeping them with an attractive and fun working environment, was reaping rewards.
It wasn’t long before AT&T (T) Canada came knocking, and Robert eventually he sold the company for $30.2 million.
After the acquisition of his first company, Robert went on to work with RAMP Network as its vice president of sales. Again, another industry giant came calling – this time Nokia (NOK) – and RAMP was sold for $225 million.
Now an established millionaire, Robert decided to take some time off from work. With a young family and a wife who wanted a career of her own, Robert became a stay-at-home dad, and, for the next few years, contented himself by spending precious time with his children.
Eventually, Robert’s desire to try his hand at another business venture became too much. So, in 2003, with just three colleagues and $20,000 in the kitty, he established The Herjavec Group.
Looking for a way to make an impact in the cyber security industry, The Herjavec Group decided to focus on providing solutions geared toward the IT protection sector. Robert’s company soon grew to become the largest IT protection firm in Canada and was one of the early innovators in what we now know as antispam detection.
The Herjavec Group continued to grow. It quickly expanded into other territories, including the UK, the US and Australia. Today, the company does about 40% of its work outside of Canada.
From just three employees in its early days, Robert took the firm and made it a $500 million company by 2013, boasting a workforce of over 150 staff. The Herjavec Group has been recognized as the Top Security Provider of the Year on multiple occasions, and in 2019 had further doubled its total employees to over 300.
The Shark Tank and New Investments
A few years after the launch of The Herjavec Group, Robert began another phase of his successful career when he joined Canada’s version of the Dragon’s Den.
The show is comprised of hopeful entrepreneurs pitching investment ideas to a panel of investors who, if they like the idea on offer, can strike up a deal and take a slice of the business in question.
As Robert’s public profile grew, he was invited to join the US version of the program, Shark Tank. This catapulted his fame to a wider audience, and Robert stayed with the Shark Tank for seven more seasons.
Over that time, Robert gained a reputation as one of the leading investors on the show. Robert’s knowledge, passion and experience were highly respected by entrepreneurs, and he has amassed a wide-ranging portfolio of companies and businesses from the show.
Some of his investments include fellow tech firms such as Aira, a wireless charging innovator, and Keen Home, a smart energy system, while others are more traditional like apparel companies Bad Birdie and Butter Cloth.
Robert has invested $16 million already with at least 50 companies featured on the Shark Tank and Dragon’s Den.
Is Robert Herjavec The Richest Person On Shark Tank
While Robert’s fortune stands at around a cool $200 million, this doesn’t make him the most wealthy investor on the show.
Kevin O’Leary, for example, has a net worth of double Robert’s at $400 million, while Mark Cuban is estimated to be the richest with a personal fortune of over $4 billion.
Robert can console himself with one thing though: Barbara Corcoran’s net worth is “only” $100 million…..
What Next For Robert Herjavec?
The coronavirus pandemic of 2020 has gotten many business leaders rethinking their strategy going forward, and this is no less true for Robert Herjavec; he recently remarked that the change in working practices arising out of the COVID crisis are here to stay, and indicted that he would not be renewing the large 52,000 square feet office space contract that The Herjavec Group currently pays for.
But change isn’t something that Robert fears. Just like how the Shark Tank launched shortly after the 2008 financial crisis – when no businesses could secure a loan – entrepreneurs will always find a way.
Robert and his companies are now looking for lightweight, agile businesses to invest in, ones that are not encumbered with large infrastructure and high capital expenditures. Uber is a perfect example, so too firms with a strong balance sheet and low costs.
How Did Robert Herjavec Make His Money?
From working for free in 1985, to the owner of a multi-million dollar company in 2000, Robert has never been afraid of hard work.
Building incrementally on his successes over the years, his story proves you can go from poverty on one continent to riches on another – and become a much loved and well-respected household name in the process.you
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