So you’d like to know about Marcus Lemonis’ Wealth, eh?
What a story we have in store for you today.
Going into business isn’t for the faint-hearted and this guy is definitely no shrinking violet.
In the world of entrepreneurs, Marcus Lemonis is known as the guy sitting on a throne made of money.
As a novice, we all want to learn the ropes real quick, get in the zone, and just live that amazing American dream.
In this article, we’ll be serving you just that.
We’ll take you on a fascinating tour on Marcus Lemonis Net Worth and how it grew exponentially over the years.
You’ll also gain an understanding of how the CEO of Camping World gets his money, and how he intuitively SPENDS IT.
We’ll tell you about:
- How he made his money – starting from fairly humble beginnings
- How he spends his money – spoiler – he doesn’t like to drive a Rolls
- Some pretty deep scandals
- Much more…
Think I’m exaggerating?
Keep reading to find out.
Who Is Marcus Lemonis?
Marcus Lemonis may be one of the richest entrepreneurs in the world. He’s CEO of Camping World as well as Good Sam Enterprises, Gander Outdoors, and The House Boardshop.
For starters, these sizable businesses can easily generate millions — no, Billions — in one fiscal year. This sought-after industry expert is also a keynote speaker in small business sectors.
Get this: Camping World alone has a market value of $2.2 Billion!
As a strong advocate of hard work and perseverance, Marcus and his brutal standards for himself and his business are what keeps the numbers in check.
Meet Marcus Lemonis, the SERIAL ENTREPRENEUR.
Marcus Lemonis Quick Overview:
- Net Worth: $900 million
- Date of Birth: Nov 16, 1973
- Gender: Male
- Relationship Status: Married (Roberta “Bobbi” Raffel in 2018)
- Children: None
- Profession: Entrepreneur
- Nationality: American
- Last Updated: 2020
How Much Is Marcus Lemonis Worth?
As of 2020, Marcus Anthony Lemonis’ Net Worth has reached the dizzy heights of $900 Million.
Marcus Lemonis Net Worth Year By Year
|Year||Net Worth $|
|2000||500 000 000|
|2001||500 000 000|
|2002||500 000 000|
|2003||500 000 000|
|2004||500 000 000|
|2005||500 000 000|
|2006||500 000 000|
|2007||500 000 000|
|2008||500 000 000|
|2009||500 000 000|
|2010||500 000 000|
|2011||500 000 000|
|2012||700 000 000|
|2013||700 000 000|
|2014||700 000 000|
|2015||700 000 000|
|2016||700 000 000|
|2017||700 000 000|
|2018||900 000 000|
|2019||900 000 000|
|2020||900 000 000|
|Total||$ 900 000 000|
Business Ventures, Endorsements & Products
1996 Florida House Campaign
Lemonis ran for office in the 1996 Florida House campaign sponsored by the Miami Herald. He appeared on the ballot as Marc Anthony Lemonis. He ended up losing to the two-term Republican incumbent, Bruno Barreiro, 42.44% to 57.56%.
During his campaign, he was dubbed by the newspapers as a “political neophyte” – inferring he’s someone who’s newly elected and still doesn’t know how the game of politics is played.
Despite being a greenhorn, the press continued to endorse Lemonis saying “he exudes energy and ideas.”
Lemonis worked for his Grandfather’s car dealership – Anthony Abraham Chevrolet, located in South Florida. Even when it was acquired by Autonation in 1997, Lemonis still held several sales and managerial roles.
With the idea of “creating the largest RV chain” in the United States, Lemonis and his friend, Lee Iaccoca, drove towards their goals by slowly acquiring a variety of rundown RV concessionaires.
It all began with Lee helping Marcus acquire Holiday RV Superstores.
Great minds do think alike.
Their friendship was the springboard for their prodigious walk to a very good life!
From June 2001 to February 2003 he served as CEO of Holiday RV Superstores Inc. Following that, he co-founded a company called FreedomRoads and began acquiring more RV dealerships.
It gets better…
In 2006, the company merged with Camping World whilst Lemonis was still CEO, and then, in 2011, merged with Good Sam Enterprises, with Lemonis again at the helm of it all.
By and large, this Lebanese-born American magnate was slowly building his empire.
Camping World | CEO
Camping world is all about selling recreational vehicles, parts, and services.
It also sells camping supplies.
Its headquarters is located in Lincolnshire, Illinois.
In 2014, CEO Marcus Lemonis sponsored the NASCAR Driver, John Andretti.
Lemonis and Camping World announced they were taking over sponsorship of the NASCAR East Series from Busch Beer for the 2008-09 seasons, rebranding it the NASCAR Camping World Series in 2007.
This move made the company one of the top 3 sponsors of the sport of racing.
The company has been so outstanding in its financial performance over the years that Lemonis was fast becoming hard to ignore.
Crain’s Chicago Business then featured Lemonis in their 2005 edition of “40 under 40,” the annual selection of the top young rising stars in the economic development industry.
Ernst & Young also named him “Entrepreneur of the Year.”
Spoiler Alert – This is the point where the big fish eats the small fish.
In April 2017, Camping World announced the acquisition of the assets of Gander Mountain. Gander Mountain is a camping, fishing, and hunting gear retailer.
In July of the same year, Camping World announced the take over of another enterprise – an online retailer specializing in bikes, sailboards, skateboards, wakeboards, snowboards, and outdoor gear called The House Boardshop.
He made himself even better known by appearing on big platforms with huge audiences.
Lemonis took part in two episodes of NBC’s Celebrity Apprentice.
He also appeared in an episode of ABC’s Secret Millionaire in 2012 returning to his hometown of Miami to help local charities.
And the best part?
In 2013, Lemonis became the host of the CNBC reality show, The Profit. This became his most glaring spotlight.
“My Millions. My Rules.”
It features Lemonis on the hunt for promising yet struggling small businesses.
Lemonis then invested his own money for part ownership in the young start-up to make them profitable.
With this, Lemonis can hit two birds with one stone.
As if that wasn’t enough… he upgraded.
In 2017, Lemonis starred in, and co-produced, the CNBC program: The Partner.
Here, he searches for a business manager to assist him with running the businesses that he invests in on The Profit.
Marcus Lemonis Investments
One way or another, these investments provided financial leverage to all of Marcus’ businesses. It’s a smart way for every tycoon to decrease the risks and increase the rewards.
Before we proceed to the good part here’s a list of brands Marcus Lemonis invested in:
- Camping World
- Gander Outdoors
- Gander RV
- Bentley’s Petstuff
- Uncle Dan’s Outdoor store
- Good Sam
- The house.com
- Precise Design Group
- Mr. Green Tea
- Mr. Mochi
- Grafton Furniture
- SJC Custom Drums
- The Simple Greek
- MLG Art, Food, Wine
- Key West KeyLIme Pie Co.
- Zoe’s Chocolate.co
- GS Media and Events
- Motor Home
- Trailer Life
- Gearsmith Shop
- Wicked good cupcakes
- Snowdays Yeti Tracks and Snacks
Marcus Lemonis Controversies & Litigation
Well, you’ve read up to this point…
It gets juicy now.
Lemonis vs Businesses featured in “The Profit”
“Lemonis is a wolf in sheep’s clothing,” the Chancery Court complaint says.
“He presents himself as a savior to struggling small business owners, all the while preying on the business he purports to be saving.”
Yikes! Crazy scheme you created there, bro!
Stick with me now as I reveal the deets.
June 18, 2020 | “The Profit,” the exposed unaired side of his business.
Taken from Business Wire: “Gerard Fox Law, P.C. announces that a series of lawsuits have been filed against Marcus Lemonis, TV personality for CNBC’s show “The Profit” alleging fraud, misconduct, and misuse of power through deceptive business practices.”
Here’s the rub…
According to the statement, Marcus Lemonis underhandedly focused the agenda on making the company indebted to him instead of helping the small business grow.
All so he could CONTROL the company and its assets.
Lemonis quickly forced the company to spend and incur debt upwards of hundreds of thousands of dollars. He engages in business practices that financially destroy the start-up company he signs in his TV Show.
The complaint comes from brother and sister, Nicolas Goureau and Stephanie Menkin. They released in a statement alleging that Lemonis coerced them to:
“buy expensive inventory then forcing the company to sell it for pennies on the dollar, destroy profit margins, renovate and re-brand stores for hundreds of thousands of dollars, and Lemonis giving himself unbridled control and leverage to do whatever he wanted with the Company.”
That escalated pretty quickly now, didn’t it?
In the end, the deal was too good to be true…
The siblings were victims of a perfectly orchestrated scheme by Lemonis and his alter entities.
Let’s take a look at another similar story…
The same scheme happened with Bow Truss, a Chicago-based upscale coffee roaster. In this case, it was them against Marcus Lemonis and his restaurant, the ML Food Group.
They alleged that ML Food Group “devised a fraudulent scheme to attempt to purchase the plaintiff at a rock bottom bargain basement giveaway price.”
In other words, Marcus “helped” Bow Truss, the owners later placed on the market when it failed – ML to ultimately purchased it on a super sale basis!
Yep, that’s it in a nutshell!
October 22, 2018 | Financial Fraud in Statements
CEO Marcus Lemonis and other company officials of Camping World Holdings face a lawsuit for misrepresenting the company’s financials while they sold more than $530 million in Camping World shares.
The lawsuit claims investors dealt with hundreds of millions of dollars in losses when the stock fell to about $19 per share which had traded above $47 a share.
The lawsuit accuses the defendants of selling more than $530 million worth of Camping World shares at artificially inflated prices and profiting “handsomely from their fraud.”
Well, now I’m just completely dumbfounded – is this ENRON part 2?
How Marcus Lemonis Spends His Money
Now, you’re ready to learn how this high-sounding statesman squanders his beautiful dollars.
Aside from the usual investments and business deals…
The self-made millionaire and CEO told the press that even someone as accomplished as he can’t resist the urge to shop.
The name’s Marcus Lemonis, and he says he’s a shopaholic.
“I like to buy nice clothes — I don’t buy a lot of them — but I will spend kind of an obscene amount of money on clothes,” he tells CNBC Make It.
How much money is “obscene?”
“I’ll go on a Saturday and spend [$3,000] on clothes,”
Lemonis also loves shoes.
“I probably have 85 pairs of shoes in my closet… plus or minus”.
Marcus Lemonis’ Houses
Lake Forest Mansion and Estate
Built in 1930, this 6,527-square-foot vintage mansion was sold for $1.74 Million. It has 4½ bathrooms and six fireplaces. It has hardwood floors throughout, a foyer with a winding staircase, a library and a dining room both with original built-ins.
Lemonis is quite the real estate baller indeed.
There are two more estates to this list.
Trust me, it’s worth a look-see!
Mansion in Montecito, CA.
You might think this is just another mansion of another rich personality.
But the difference here is that it’s just a quarter-mile away from the billionaire media baroness Oprah Winfrey’s gaff.
The 8100 sqm house is a contemporary yet luxurious take on a farmhouse-style design. A hidden genius must be at play when it came to designing this home.
Mini Mansion in Wellington, FL
Another luxury buy.
Lemonis paid $1,500,000 for the 4,696-square-foot house in trooper-oriented Wellington (FL). It was advertised as having a “Chicago brick” driveway and many assume this meant Marcus couldn’t resist the purchase.
Marcus Lemonis’ Cars
Marcus isn’t the type to own toys.
“People understand that, if you’ve achieved a level of success, you’re entitled to enjoy that success, but there’s a difference between enjoying that success and opulence,” Lemonis says.
The self-made millionaire recently told CNBC Make It that his “most embarrassing” purchase ever was a Rolls-Royce that he bought in 2007. He didn’t bother to mention the amount but experts estimate it to be about $300,000.
“It didn’t last very long,” Lemonis says of his ownership of the car. “I felt like a giant ass driving the car.”
That’s very… humbling.
Fun Facts About Marcus Lemonis
- He’s adopted. Marcus Lemonis was born on November 16, 1973, in Beirut, Lebanon. He was adopted by a Greek family, Leo & Sophia Lemonis, from Miami.
- He’s a shopaholic when it comes to fashion and style, but not cars.
- His granddad owned 2 of the biggest Chevrolet dealerships across the US. After losing the elections in Florida, taking over the automotive business made him a huge success.
Marcus Lemonis Philanthropy
Let’s take a look at this.
Lemonis’s philanthropic efforts have included support for the following organizations:
- Joffrey Ballet,
- St. Jude Children’s Research Hospital,
- Ravinia Festival, Lincoln Park Zoo,
- RV/MH Hall of Fame, and
- Zacharias Sexual Abuse Center.
On Secret Millionaire, he contributed his support to National Voices for Equality, Education, and Enlightenment, New Journeys Transitional Home, and Neat Stuff.
5 Lessons For Financial Freedom From Marcus Lemonis
“If you guys can’t communicate as business partners, you can’t be in business together. If you can’t tell him what’s wrong, then you shouldn’t be in business together.”
2- Eliminate inefficiency, Increase margin.
Something as small as this can be the difference between losing and making money.
3- Be passionate.
“A successful business owner subscribes to one theory: They show up first, and they leave last”
4- Business isn’t personal.
“It’s not about friendship, it’s a business. This is about putting people in the right place.”
5- Know your numbers.
First off, you need an accurate balance sheet. Secondly, treat cash as king, protect it, and make sure your accounting and intake for payments are 100% accurate.
Frequently Asked Questions (FAQs) About Marcus Lemonis:
How many businesses does Marcus Lemonis have?
A: TWO DOZEN OF THEM!
Is “The Profit” staged?
A: When Marcus Lemonis writes a check on The Profit, we’re told it’s really his money. But some businesses have claimed that it’s staged for television.
What happened to the TV Show, “The Profit?”
A: It ended on February 25, 2020, after spanning 13 episodes. Over the years, the show has been universally well-received by fans of the genre. Hence, we’re sure it’ll get another season.
Summary: Marcus Lemonis Net Worth
In essence, Marcus Lemonis has had a hell of a career.
My biggest takeaway from this was all the litigation he’s faced. The controversies were so big it had me on the edge of my seat.
I also particularly liked the irony of his success.
If taken on a positive and genuine note, The Profit is a great idea to share your uptakes and prowess in business.
Heck, this might even be considered a form of charity!
Even so, if all the dirty “accusations” were real – the scandals he’s faced, the scheme he made these poor struggling small businesses go through, the deception – then it might be a bit disappointing, to say the least.
But I hope not.
I hope you enjoyed this article – you might also want to check out Marcus Lemonis’ Bounce Mojo Bio, and the best Marcus Lemonis memes.