Giacomo Tognini Contributor
Billionaires
I write about wealth for Forbes.
On Tuesdays at 10 pm, Glenn Stearns graces television screens across the U.S. from the streets of Erie, Pennsylvania. Stearns, as the star of the new Discovery Channel show, “Undercover Billionaire,” is tasked with turning $100 into a million-dollar company in 90 days, aided only by a cell phone and a pickup truck. The first of eight episodes aired on August 6.
One thing to be wary of: The central premise of the show — that 56-year-old Stearns is a billionaire — doesn’t hold up. Based on a review of Stearns’ properties and his stake in Stearns Holdings, the California-based private mortgage lender he founded, Forbes estimates his net worth at around $500 million. That’s a far cry from the $1 billion claimed by the show’s title.
https://www.forbes.com/sites/giacom...s-is-not-actually-a-billionaire/#245672a3478e