As one of the most talked-about figures, Glenn Stearns has built a significant fortune. Our team analyzed the latest data to provide a clear picture of their income.

What is Glenn Stearns' Net Worth?

When he was 25 years old he founded his own mortgage company, Stearns Lending. Within a decade the company was handling $1 billion per month in funding. Unlike many of its peers, Stearns managed to survive and thrive after the 2008 real estate crash and actually emerged as one of the top lenders in the United States. Between 2010 and 2019, Stearns funded $30 billion worth of loans which made it the #1 wholesale lender in the country in 2003 and one of the top 10 in the other years. He is the father of six and grandfather of two. Glenn and his wife Mindy Stearns are active philanthropists who donate to many causes. The couple appeared on TheOprah WinfreyShow in 2003 to discuss their journey and vision.

Soon after publishing this article, a number of people sent feedback saying Glenn Stearns had filed for bankruptcy. That is false. In July 2019 Stearns Lending filed for Chapter 11 bankruptcy. That is very very different from Glenn personally filing. As we mentioned a moment ago, Glenn sold 70% of his company back in 2015 to private equity firm Blackstone. The company stated in its filing that it has $1.22 billion worth of assets and $1.16 billion in liabilities. Blackstone and Glenn came to an agreement that he would forfeit his remaining 29% stake in exchange for Blackstone injecting a large amount of capital to right the ship. The agreement also allowed Stearns Lending to not fire any of its 2700 employees.

Entrepreneurs Mindy Stearns (L) and Glenn Stearns

Glenn Stearns was born to alcoholic parents and thanks to dyslexia, failed the fourth grade. He fathered his first child at 14 then graduated at the bottom of his high school class. Determined to not meet the same fate as his parents and friends who were addicted to drugs and alcohol, Glenn, with the help of mentors, became the first person in his family to attend and graduate from college when he earned a degree from Towson University. After college he moved to California where he slept on the kitchen floor of a one-bedroom apartment he shared with five other guys. He waited tables to make ends meet before landing a job as a loan officer.

On August 6, 2019, Glenn made his debut on the Discovery Channel series "Undercover Billionaire". The show took place Glenn in Erie, Pennsylvania away from his private jet and yacht. The point of the show is to see if with just $100 in his pocket can he can build another multi-million dollar business from scratch in 90 days. He will not be able to use any of his former contacts or resources and will assume a new identity, "Glenn Bryant". The second season of "Undercover Billionaire" starred three entrepreneurs, includingGrant Cardone.

Mindy and Glenn Stearns (Photo by Mark Mainz/Getty Images)

Is Glenn Stearns Bankrupt?

Glenn Stearns is an American business executive who has a net worth of $500 million. Contrary to what you might have heard, and the fact that he starred on a reality show called "Undercover Billionaire", technicallyGlenn Stearns is NOT a billionaire. Extraordinarily successful and wealthy but not quite officially in the three comma club. Glenn Stearns is the founder of Orange County-based Stearns Lending. Stearns Lending generates around $500 million per year in revenue and employs more than 1700 people. In 2015, private equity behemoth Blackstone acquired a 70% stake in Stearns Lending for an undisclosed amount. Based on comparable companies and multiples at the time, Stearns Lending was worth around $550 million total at the time. That means Glenn personally took in around $380 million pre-tax from the Blackstone deal.

Ultimately, Glenn Stearns's financial journey is a testament to their success.

Disclaimer: All net worth figures are estimates based on public data.