Greg Renker Net Worth

What is Greg Renker's Net Worth and Salary?

Greg Renker is an American businessman who has a net worth of $600 million. Greg Renker earned his fortune as the co-founder of Guthy-Renker. He co-founded the company with Bill Guthy in 1988, and it became one of the largest direct-response marketing companies. By 2001, its revenue was $400 million, and by 2012, its revenue had grown to nearly $2 billion. Guthy-Renker has worked with brands such as Proactiv, JLo Beauty, Meaningful Beauty, and IT Cosmetics. Renker has credited the Eisenhower hospital with saving the lives of both Greg and his wife, Stacey, and the couple showed their gratitude by donating money to the hospital and launching a donation drive. This led to the hospital adding The Renker Wellness Center and The Greg & Stacey Renker Pavilion, and Greg became the chairman of the Eisenhower Medical Center. Renker is the co-founder of the National Infomercial Marketing Association, which is now called the Electronic Retailing Association. He was honored with the Horatio Alger Award, which is given to "exceptional leaders who have triumphed over adversity to achieve greatness."

Early Life

Greg Renker was born in 1957 in Phoenix, Arizona. He was one of nine children, and his father managed country clubs and hotels. The family moved each year due to his job, and though they weren't wealthy, they spent time in high-end resorts, where they socialized with "the rich and famous." When Greg was 16, his father lost his job. As a teenager, Greg subscribed to several newspapers, read more than 200 magazines per month, and became interested in self-help books. He thought that learning how to sell might prevent him from experiencing the same financial stress his parents were going through. Renker told Success magazine, "On the outside looking in, we lived a lifestyle that looked pretty normal. But my father was borrowing money from my mother's family, and financially, we worried. I knew that I wouldn't get financial help from my parents; anything I wanted I had to achieve on my own." Greg majored in comparative literature at the University of San Diego, and he simultaneously worked sales jobs, including a job as a real estate agent.

Guthy-Renker

In 1981, at the Indian Wells Racquet Club and Resort in Indian Hills, California, where Renker's father was a manager, Greg met his future business partner, Bill Guthy. Both Renker and Guthy were fans of the book "Think Rich and Grow Rich." They actually decided to buy the rights to the book for $100,000. In 1988, they ran their first infomercial, grossing $10 million from the campaign. Soon their focus turned to their newly formed company, Guthy-Renker, and its concept of new product and brand development, including selecting, licensing, and developing products that met the direct response criteria for success, using a method of casting talent that had an associated product story rather than using a traditional endorsement. The Guthy-Renker website describes the company as "one of the most revolutionary omni-channel companies in the world," stating, "They redefined DTC marketing, early-adopted the subscription model, pioneered the infomercial industry, and blazed the trail for celebrity influencers. Always ahead of the curve, they even launched brands 'digital first' long before it was the trendy thing to do."

Guthy-Renker has partnered with many celebrities as well as physicians to launch their skin and hair care products (Victoria Principal, Cindy Crawford, Dr. Perricone, etc.). Today, Guthy-Renker employs around 650 people and has more than 400,000 square feet of fulfillment, distribution, and call center space, with locations in California, Louisiana, and North Carolina. Renker and Guthy were honored by Goldman Sachs as two of the 100 Most Intriguing Entrepreneurs during the 2013 Innovators Summit. In an interview with Success magazine, Greg said of his selling style, "I don't see myself as a flashy sales type. I'm more of an introvert. Yet sales is fun for me. I was able to leverage my genuine interest in other people by listening to them. A lot of sales is asking questions and then listening carefully. A good salesperson can convert what they hear into a benefit."

Guthy-Renker Revenue

By 2001, the company was generating $400 million per year in revenue. That number had grown to $1.5 billion by 2009. By 2012, it was $1.9 billion. Today, their revenue is estimated to be somewhere around $2 billion per year.

(via Getty)

Personal Life

Greg and his future wife, Stacey, met in high school, and a decade after graduation, mutual friends arranged for them to see each other again. The couple married two years later, and they have welcomed three children together. Greg has credited the Eisenhower hospital with saving his life when he underwent emergency heart bypass surgery in his early 40s and with saving Stacey's life when she suffered from toxic shock syndrome that was brought on by a flu condition. Though Renker was athletic and seemed healthy, he "nearly died from cardiovascular disease," according to The Desert Sun. After Greg and Stacey donated to the hospital and held a donation drive, The Greg & Stacey Renker Pavilion and The Renker Wellness Center were created. Greg was honored with the American Heart Association's Individual Achievement award for his philanthropy. He is the chairman emeritus of the Annenberg Center for Health Sciences and the chairman of the Eisenhower Medical Center.

Real Estate

In 2016, Greg and Stacey spent $11 million to buy a beachfront home in Carpentaria, California. Today, the five-bedroom home is estimated to be worth $16 million. Neighbors include Ashton Kutcher/Mila Kunis, Kevin Costner, and Ellen DeGeneres.

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