‘Shark Tank’ Star Robert Herjavec Invests Big in Cars
Fans of ABC’s Shark Tank are familiar with businessman Robert Herjavec, one of the celebrities who invests in aspiring entrepreneurs’ startups on the show. Viewers know Herjavec for his business investment savvy, but they’re likely less familiar with his passion for investing in automobiles. In fact, he has amassed quite a collection of cars over the years, including rare models.
Who is Robert Herjavec?
Herjavec is an investor and businessman who made his fortune in the technology industry. According to his website, Robert Herjavec, he moved to North America from Yugoslavia with his family when he was young. Eventually, he created a computer company out of his basement, and his business career began.
He founded the cybersecurity firm Herjavec Group in Canada in 2003 and later gained success throughout North America and Europe. In fact, most of his company’s growth is now coming from those latter markets, MotorTrend reports.
Herjavec is one of the longest-running judges on Shark Tank. He told MotorTrend that some of his biggest investment successes on the show are products such as ChordBuddy, which helps users learn to play the guitar, and the clothing line Tipsy Elves.
All of these achievements have put Herjavec in the enviable position of being able to afford one of his favorite hobbies: collecting cars.
What cars does Herjavec own?
Herjavec doesn’t just collect cars. He also loves to race them. HotCars reports that the businessman sponsors a race team and was also a “Gentleman Driver” in the Ferrari Challenge program, where he won five races. It’s appropriate, then, that Herjavec is a proud Ferrari owner.
One of Herjavec’s favorite cars for racing is his Ferrari F12 Berlinetta, which he drives every chance he gets. He told MotorTrend that he considers it the best front-engine car the Prancing Horse has produced and that there’s absolutely nothing he dislikes about it.
Herjavec is also proud of his 1958 Porsche 356, which he lovingly refers to as his “James Dean car.” Because it’s an older model, Herjavec doesn’t drive it as often as he might like, but he enjoys every minute of it when he does take it out on the road. “Nothing better than driving [the Pacific Coast Highway] with the top down in that car,” he told MotorTrend.
In addition, the celebrity investor also gives a perfect 10 rating to his 2011 Rolls-Royce Phantom Drophead Coupe, which HotCars indicates he bought from the rapper 50 Cent. These cars aren’t for the budget-conscious: Cars.com reports they start at a whopping $492,000.
Do cars make good investments?
Normally, investors don’t consider cars moneymakers. After all, most vehicles depreciate the minute they roll off the lot. But as with any rule, there are exceptions. And if anyone would know where to find them, it would be Herjavec.
Certain limited-production cars actually make good investments because their low supply can drive prices up over the years rather than down. Take the LaFerrari, for example. Ferrari made only 499 of these supercars, The Verge reports. Due to this car’s limited supply, JamesEdition has recommended it as a good investment Ferrari.
What’s more, prices on some used cars these days have thrown certain previous assumptions out the window, thanks to rising prices associated with the pandemic. iSeeCars put together a list of car models that currently cost more used than new. They include many vehicles that, though popular, don’t normally come to mind as investments, such as the Kia Telluride and Honda Civic.
So even if you’ve never thought of yourself as someone with the funds to invest in cars, now is the time to reconsider. You no longer need to be a celebrity like Robert Herjavec to own an investment vehicle.