|Source of Wealth:
|Businessman, Television personality
|November 16, 1973
|Marcus Anthony Lemonis
|5 ft. 9 in. (1.82m)
Marcus Lemonis is an entrepreneur who is currently 46 years old belongs to Lebanon but his country of origin is the United States of America. He was born on 16 November 1973. He is an American investor and a businessman from Lebanon. His grandfather had a dealership business and Lemonis started his career from there. The most important that Marcus has done was helping many businesses that were in trouble. Currently, the net worth of this businessman is around $900 million.
Early life of Marcus Lemonis
Lemonis was born in Lebanon but due to civil war and invasions, he was adopted by a couple named Sophia and Leo Lemonis. His grandfather has a car dealership and he started his career from there. The dealership was located in South Florida. His real parents were Abdallel and Nadia. Both of them were detained at an orphanage and so he was adopted by the couple.
Lemonis showed keen interest in car business from childhood. His grandfather, Anthony Abraham, had two car dealerships Lemonis dealt with Ford Mustang and Pinto cars. After completion of his graduation, he joined politics. Later he started his career as a businessman and investor. He got an idea from Lee Lacocca to create a great RV chain. Lemonis took the help of Lee and set up a Holyday RV superstores but the business came to an end within two years.
Lemonis started his own company and named it Freedom Roads. After launching this company, he showed interest in buying various kinds of RV dealerships. He merged his company with Camping World in 2006. Later his company also took over Good Sam Enterprises. After getting the position of CEO for Camping World, He collaborated with NASCAR. After this collaboration, he sponsored a driver whose name was John Andretti. Next year his company took over the sponsorship of NASCAR East Series.
After doing this, he started a TV reality show whose name was The Profit. In this show, he always tried to help small businesses in surviving and growing. He provided funds for the companies that were in trouble. He took a portion of the company after providing funds. The companies to which Lemonis provided help are Eco-Me, 1-800 Car Wash, Athans Motors, and many others.
Besides these, he helped many companies for their survival and growth and so many experts gave him the title of Newsmaker of the Year. Currently, net worth of Lemonis is $900 million.
Growth of net worth of Lemonis
His net worth grew because he has the skills of consolidation and negotiation. He did not try his luck as an investor or as an innovator. He developed several creative ideas for years and used them in his portfolio. All these things helped him meet with his wife named Bobbi Raffel. The name of the company that she was leading was Runway. There was a tradeshow in 2016 and both of them met in that show.
Raffel informed about her business to Lemonis and he helped her in combining with two other companies whose name were Courage b and Denim & Soul. She branded her boutique as MARCUS. Currently, her business is being operated from 18 locations. The operation of the business in these locations is carried out with the help of a large e-commerce platform. He also acted as a TV star and his wardrobe was filled with the uniform, which included a sports coat of blue color along with khakis. His life experience can inspire many people that a small business can be turned into a larger one easily.
Current doings of Lemonis
Lemonis has responsibilities of his companies and besides that, he also helps other businesses to get out of troubles. He funded the companies and also help them in making marketing strategies. In exchange, he took over a portion of that business in the form of equity percentage. This attitude of his helped in diversifying his portfolio.
Other ventures of Marcus Lemonis
On the Christmas Eve of 2012, he entered a bakery called Rose’s Wheat Free & Café. The door of the bakery was about to close as it was going through a great loss. Lemonis invested in the bakery and saved it from closing down. He gave a check of $200,000 and this investment gave him the opportunity to become the major owner of the bakery. He also made a commitment that he will invest 150,000 in the business in the next 18 months. He invested in the bakery for its survival and in 2014, he opened another branch of that bakery in second location. Besides Rose’s bakery, he helped many other businesses.
Lemonis also became a part of the TV show NBC and the name of the show was Celebrity Apprentice. He hosted challenges related to marketing in those episodes. In 2011, he selected some teams and asked them to take a challenge of showing their experience in midtown Manhattan. In 2012, he arranged a contest and told the contestants that they have to write a jingle within 90 seconds. The jingle was related to program of Good Sam’s Roadside Assistance. In the same year, he also appeared in the episode of secret millionaire. The show was organized by ABC.
He was awarded stardom for the CNBC reality show in 2013. The name of the show was The profit. In the show, he promised of saving the businesses that were in trouble. He invests money for the troubled businesses and takes a part of ownership of that company. In this way, those businesses also survive and start earning profits. He made an investment o $35 million after the third season of the show. He invested the money for those businesses that contacted him in the show. He was also a part of the program called The Partner, which was launched by CNBC. He was an actor in that program and was also a co-producer.
In all, it can be said that Marcus Lemonis is a good investor who invests money in the businesses that are running in trouble and take a portion of those businesses. He provides assistance to them so that they can also earn profits.