|Net Worth:||$1,5 Million|
|Age:||40 – 45 years|
|Height:||5.7 feet (173cm)|
|Last Updated:||July, 2022|
Benjilock is a popular name for Robbie Cabral who is the founder, owner, entrepreneur, and inventor of Benjilock. The name Benjilock is a brand name and for hybrid technology smart padlocks that can be opened using a key or fingerprint technology. He got popular after being featured in ABC reality television Shark Tank. Benjilock initially wanted to be a rock star, but his dream was short-lived, and decided to start making locks.
Benjilock is currently a successful entrepreneur but his life was not always smooth. The entrepreneur moved from the Dominican Republic to the United States and started doing menial jobs as a dishwasher. He finally got hired in real estate and later got laid after few months.
Benjilock has a net worth of $1.5 million.
How Did Benjilock Become Rich?
Benjilock got rich when he joined Shark Tank and was given $200,000 for his smart lock idea. Unlike other inventors, Benjilock is not an engineer or a tech person. He has a background in advertisement management and when he came up with the idea he consulted an engineer to help. The process of designing and putting everything together took three years.
Since the invention of the smart lock, it has won a total of 21 awards. In the beginning, Benjilock showcased his work at the Las Vegas Consumer Electronics Show. Later he went to Shark Tank where he got the attention of Kevin O’Leary. He got a deal of $2,000,000 for 15%.
Benjilock has gained popularity over the years and the business continues to do well. He gets a monthly revenue of $14000 and it continues to grow. One thing that has helped him to grow rich is his advertising skills. Benjilock might not be an engineer but he can convince investors and also customers to buy his products. The smart lock is popular all over the United States.
What Is Benjilock Net Worth?
It is estimated that Benjilock business has an estimated net worth of $4 million in 2022. The company also has an estimated revenue of $14,000 per month. His business continues to grow and his net worth also continues to grow and Benjilock now has a net worth of $1.5 million.
The company Benjilock was founded in 2014. Benjilock came up with the invention after joining the gym and noticed that his gym mates were facing problems with locks on their lockers. He decided to come up with a lock that will be fingerprint operated so that people do not have to deal with losing keys. Since he is not an engineer, the dream was made possible by hiring an engineer.
He first showcased his invention in the Consumer Electronics Show of America. This was a good move because he got the connections he needed to grow his business. He was connected to retailers like Ace Hardware and this give him a platform to sell his locks. It was also a good opportunity because he got a chance to join Shark Tank.
His income and net worth started increasing when he joined Shark Tank in 2017 and Kevin O’Leary was impressed by his prototype presentation. Kevin invest $200000 into the business with a 15% share and this propelled the growth of Benjilock. It was also a good opportunity for Benjilock to learn how business is done because Kevin taught him how to do business.
Unlike other companies that go slow after investors put money, Benjilock has continued to evolve his business. He grows his business by introducing new and unique products to his business. Benjilock has locks for bikes, lockers, and even home locks. Introducing new products has made him stay ahead of his game all the time.
How Benjilock Spends His Money?
Benjilock is a recent millionaire so he is not flashy on spending money. He also lives a private life so it might be impossible to know how he spends his money. From the look of things, he lives a modest lifestyle. In television interviews, he appears wearing his signature hat. He also loves to wear branded T-shirts for his company. Benjilock does not spend a lot of money trying to look flashy.
He is a family man and he likely spends his money taking care of his kids. There are no details known about the car that he drives or even the house where he lives. His Instagram is all about business and you will rarely see pictures of himself. He prefers to live his life privately.
- Benjilock got his business idea at his lowest point in life. The idea of a smart lock was born in the gym that he was attending. He wanted to solve a locking problem for gym lockers. Benjilock was looking for a solution to open the locks without using keys all the time.
- He does not have an engineering background. Benjilock is good at advertising and decided to use his skills to promote his business. He hired an engineer to come up with the prototype and bring the dream to life. However, it took three years before he finally got a finished product.
- Benjilock is a family man. He has a wife and three kids. In his interviews, he talks about his family and how they have inspired him to grow and become better in his business. There are no details known about his wife and kids because he prefers to keep them private.
- He had a tough background after moving from the Dominican Republic to the United States. He was a dishwasher earlier in his life when moved to the United States. Benjilock is a perfect representative of the American dream based on what he has been able to achieve after moving back.
- Benjilock has won many awards since he started his company in 2004. He is known mainly for shark tanks but before then he had won a lot of awards. In total, his company has won a total of 21 awards. His company has also been accepted by some of the major retailers in the United States.