Glenn Stearns: The entrepreneur’s huge fortune

How rich is Glenn Stearns?

The son of alcoholic parents, held back in fourth grade, became a father at 14: Glenn Stearns’ first years were certainly not a walk in the park. Nevertheless, he graduated from university and founded a company at the age of 25 that made him really rich. He also invented Undercover Billionaire , a reality TV show that is unparalleled. Glenn Stearns’ estimated net worth is 460 million euros .

The huge fortune of Glenn Stearns

From 1989 to 2012, Glenn Stearns was the CEO of his own company, Stearns Lending , which was at one time one of the fastest-growing private companies in the USA. As CEO, he naturally built up a considerable private fortune. He also owns various other companies that offer financial services, as well as numerous properties in several US states, which he used to further increase his wealth.

A difficult childhood

Glenn Stearns grew up in extremely difficult circumstances . His parents were alcoholics and the family lived in a troubled area in the suburbs of Washington DC. There were bars on the windows of the apartment, drugs were sold on the street and when he was five years old, Stearns found a gun near the house. When Stearns was eight, the family moved into their own house, which at least somewhat improved his circumstances upbringing. At the same time, he took his first job as a newspaper delivery boy. Shortly afterwards, he was diagnosed with dyslexia (reading and writing difficulties) and failed the fourth grade.

From young father to university graduation

At just 14 years old, Stearns impregnated his 17-year-old girlfriend, who then gave birth to their daughter Charlene. To earn money for his small family, he took a job at a shopping mall. Because he wasn’t yet allowed to drive, he had to hitchhike to work every time. Throughout high school, he worked part-time in a restaurant . Despite the part-time job, he dreamed of going to college, but to do so he would have to drastically improve his grades. So he studied hard, graduated from high school with honors, and then went on to attend Maryland’s Salisbury State University. A year later, he transferred to Towson University, where he graduated.

Founder of a billion dollar company

With his college degree in his pocket, Stearns moved to California, where he supported himself as a waiter and shared a flat with five other young men. After working for a while as a loan officer, he founded his company, Stearns Lending, in 1989 at the age of 25. Within a decade, the company developed into one of the largest lenders to wholesalers in the entire USA . It even managed to survive the global financial crisis of 2008 unscathed. In May 2012, Stears resigned as CEO of his company.

Cancer as inspiration

Stearns appeared in a reality TV show as early as 2004, when he and his wife Mindy Burbano took part in The Real Gilligan’s Island . According to the concept of the show, they took on the roles of the millionaire and his wife and had to compete in games against the other participants. Stearns and his wife won the show. In 2014, he was diagnosed with throat cancer, but he initially beat the disease. The cancer and his battle against the disease inspired him to develop his own reality show , as he wanted to prove to his now four children that it is never too late to take your chances.

Glenn Stearns invented Undercover Billionaire

In August 2019, the first episode of Undercover Billionaire aired on US television . In it, Stearns attempted to start a multi-million dollar company within 90 days – without his fortune, but with just $100, a full car and a cell phone. During filming, he was diagnosed with cancer again, but was able to beat the disease again. He opened the fast-food restaurant Underdog BBQ , which still exists today in Eerie (Pennsylvania).