How much is Joy Mangano worth?
|Net Worth:||$150 Million|
|Profession:||Inventor and entrepreneur|
|Date of Birth:||February 1, 1956|
|Country:||United States of America|
About Joy Mangano
The “Miracle Mop” was Mangano’s first invention, which she developed in 1990 after becoming dissatisfied with ordinary mops. It is “a self-wringing plastic mop with a head made from a continuous loop of 300 feet (90 meters) of cotton that can be easily wrung out without getting the user’s hands wet”.
Mangano developed her first invention after becoming dissatisfied with ordinary mops. She built a prototype and then manufactured 1000 units after using her own funds and receiving funding from her family and friends. In 1991, preliminary assembly was carried out in the body shop that belonged to her father in Peconic.
Soon after she started making appearances on QVC in 1992, she started making regular appearances on HSN. Today, she is regarded as the most successful purveyor on the HSN network, with annual sales of more than $150 million. Her hourly sales consistently exceed one million dollars.
Mangano spent her childhood in Huntington, New York, despite having been born in Brooklyn. Mangano began inventing at an early age. She was a single mother when she had her three children and worked a number of jobs, including waitressing and managing airline bookings, after earning a degree in business administration from Pace University in 1978. During this time, she was also a single parent.
In the movie “Joy,” which was released in 2015 and was directed by David O. Russell, Jennifer Lawrence played a character that was based on Mangano. Mangano was credited as the film’s executive producer. It was made available on December 25, 2015, which is Christmas Day. She launched the first season of America’s Big Deal, a reality competition show for ambitious business owners, on the USA Network the next year, in 2021.
In the beginning, Mangano called her company Arma Products, but she ultimately decided to change the name to Ingenious Designs. In 1999, she parted ways with Ingenious Designs and sold it to USA Networks, which is the parent company of the HSN. By the year 2000, the company was generating an annual revenue of $10 million from the sale of Miracle Mops.
Mangano has also been featured in television ads and informational commercials promoting the goods produced by her company. She stated that despite the fact that selling on television presents an opportunity to communicate with millions of people, it takes genuine excitement to convince viewers of a product that they can not touch or experience for themselves. She quit HSN in 2019 after working there for nearly two decades in order to pursue other options in her professional life.
Nonetheless, by the year 2022, Mangano was once again making frequent appearances on HSN to promote her CleanBoss brand of home, personal, and cleaning goods. Mangano served as a judge on the cable television reality show Made in the USA in the year 2005. On February 2, 2007, she was also a guest on the show The View, which airs on ABC.
Because of her numerous ideas, Mangano has been credited as the named inventor on 71 patent families and 126 separate patent publications . Inventing Joy, Mangano’s autobiography, was published that same year. The biopic Joy, which was released in 2015, was only tangentially based on her life. Due to her performance as Mangano, Jennifer Lawrence was recognized with two awards: the Golden Globe Award for Best Actress in a Motion Picture Comedy or Musical, which she won, and the Academy Award for Best Actress, which she was nominated for.