"Understanding of wealth was very external"- Shark Tank's Robert Herjavec opens up about the time he had a "superficial" outlook on money

In a February 5 interview on The School of Greatness podcast with Lewis Howes, Shark Tank investor Robert Herjavec reflected on the beginning of his career, admitting that he was "superficial" and had an external view of wealth in his 20s. Moreover, he used to compare and notice how others spent their money.

"I was very superficial because my understanding of wealth was very external. It was everything that I saw other people [have]," he said.

Over the years, as the Shark Tank star achieved even greater success and wealth, he came to realize that he did not need superficial things to fulfill his desires.

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Shark Tank investor Robert Herjavec shares how he was able to change his superficial mindset

In The School of Greatness podcast, host Lewis Howes asked Shark Tank star Robert Herjavec if there was any point in his life when he associated his self-worth with his net worth.

Robert admitted that he used to tie his self-worth with his net worth when he was in his 20s. At the time, he was very superficial because his understanding of wealth was external.

The Shark Tank investor explained that he once defined wealth by how he saw others spend their money—the cars they drove and the houses they bought. Having never met anyone with "great wealth" till then, he lacked a mentor to guide him on what it truly took to succeed.

Over time, as Robert gained greater success, he realized that he did not need superficial things to fulfill what he truly desired in life. Talking about the things that people initially associate with success, he said,

"I always say there's superficial wealth which is 'You live for the way you think you should.' You buy a nicer car, you get a bigger lease, you get a bigger mortgage because you think those are the things that you need in order to be successful."

Herjavec then added:

"I think once you really achieve great success, you begin to realize I don't actually need another car or I don't need these things to fulfill me."

Building on Robert’s point, host Lewis asked what someone today could do to avoid tying their self-worth to their net worth—ensuring it doesn’t impact their identity, sense of self, or overall well-being.

Robert then emphasized that a person's net worth is not a reflection of their value. He explained that poverty and wealth are just temporary situations and do not define an individual's true worth. So, according to him, someone earning $50,000 a year could still be a high-value individual with strong potential.

"Everybody's at a different stage of their journey. You just gotta believe that you're learning the skill set in order to get there one day, and you've got to have a greater purpose in order to get there," he added.

The Shark Tank investor further shared that when he was "poor," he never believed he would stay that way—but he also never imagined reaching his current level of success. He admitted that his dreams at the time weren’t big enough to envision what was truly possible.

He added that when he was in his 20s, his only dream was to make enough money to buy a house and a Corvette, which would make him feel successful.

"My dream in my 20s was to make a $1000 for my age. So when I'm 50, to make 50 grand, to buy a house and pay it off in my lifetime. And to buy a Corvette. That was my dream... That was my vision board dream. That was my like, knock it out of the ballpark dream. Because we didn't know anybody who had done those things," he concluded.

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Interested viewers can catch new episodes of Shark Tank season 16 every Friday on ABC.