Troy Carter net worth 2024: Shark Tank guest investor's wealth and career explored

Shark Tank guest investor Troy Carter appeared on the show during season 7 episode 2. After evaluating several business pitches, he chose to invest in two ideas he believed had the greatest potential.

Carter is a prominent American music manager, entrepreneur, and venture capitalist. Throughout his career, he has managed artists like Eve, Lady Gaga, Meghan Trainor, John Legend, Lindsey Stirling, and Pia Mia.

Besides being a manager, he has worked with Spotify and invested in companies including Uber, Dropbox, Lyft, and Warby Parker.

As per, Celebrity Net Worth, Troy Carter's net worth as of 2024 is over $50 million.

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Shark Tank guest investor Troy Carter's career

Troy Carter was born in Philadelphia, Pennsylvania on November 14, 1972. He completed his middle school education at Huey Elementary and Sayre Middle School and later entered West Philadelphia High School. He eventually dropped out of high school at the age of 17 to pursue a career as a music professional.

Before leaving high school, Carter formed the rap group 2 Too Many and got signed to Will Smith and James Lassiter's label WilJam Records.

After staying in the group for about a year, and later working with DJ Jazzy Jeff and Lassiter, he was hired by producer Sean Combs as an intern at Bad Boy Records.

The internship lasted a year and a half, after which the he returned to work with Lassiter. However, he struggled to find success following his termination.

Carter's career began to pick up when rapper Eve asked him to manage her in 1999. He went on to manage other rising artists such as Floetry and Nelly and later co-founded the talent management company Erving Wonder with Jay Erving.

Atom Factory CEO Troy Parker (Photo by Ann Johansson/Corbis via Getty Images)

In 2004, the two co-founders agreed to sell their company to the UK-based record label Sanctuary. However, the deal collapsed two years later, resulting in significant financial losses for Carter.

Shortly after, Eve parted ways with him as her manager, which ultimately led to his bankruptcy.

Carter’s career experienced a resurgence in 2007 when record producer Vincent Herbert introduced him to singer-songwriter Lady Gaga. As Gaga’s popularity grew, she, Carter, and Herbert toured California, performing at various clubs and building her fanbase.

This partnership helped Carter to found Coalition Media Group and later the talent management division Atom Factory.

The Shark Tank investor is currently married to his wife Rebecca. The couple has five children and they all reside in Los Angeles.

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Troy Carter's investments in Shark Tank

Troy Carter appeared as a guest investor on Shark Tank season 7 episode 2. On the reality show, Carter showcased his eye for identifying innovative business ideas and offered valuable insights to the entrepreneur contestants.

During the Shark Tank episode, he invested in two companies: Two Guys Bow Tie Company and Foot Cardigan. His first investment, Two Guys Bow Tie Company specialized in producing handcrafted bow ties and lapel pins that were made from exotic hardwoods.

Impressed by the pitch Carter teamed up with fellow shark with Daymond John to invest $150,000 for a 17.5% stake. The investment turned out to be a great hit and according to Shark Tank Success, the company generated $3.5 million in annual revenue and achieved $407,000 in sales in 2021.

Carter's second investment Foot Cardigan was a subscription service that delivered quirky socks to its customers monthly to add fun to an otherwise mundane product.

To close the deal, Troy Carter partnered with Mark Cuban, and the two Sharks invested $250,000 for a 20% equity stake. This investment was a hit as well and according to Shark Tank Success, the company reached a net worth of $4 million by 2022.

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Shark Tank season 16 episodes air every Friday on ABC.