What is Joy Mangano’s net worth?
Joy Mangano, a New York-based entrepreneur and inventor, has amassed a net worth of $70 million thanks to her innovative household products such as the Miracle Mop and Huggable Hangers. As the President of Ingenious Designs, she frequently appears on the Home Shopping Network (HSN) to showcase her creations. Her life was portrayed in the 2015 biographical film “Joy,” with Jennifer Lawrence in the lead role.
Joy Mangano’s Early Life and Invention
Joy Mangano was born in 1956 in East Meadow, NY to Italian-American parents. Her interest in invention began as a teenager when she created a fluorescent flea collar to protect pets while working at an animal hospital in Huntington, Long Island. Mangano went on to receive a degree in business administration from Pace University in 1978.
Joy Mangano’s Miracle Mop Success Story
Joy Mangano, a single mom of three, invented the Miracle Mop in 1990, after holding down various jobs. The self-wringing plastic mop with a head made from a continuous 300 feet loop of cotton can be wrung out easily without getting the user’s hands wet. Mangano invested her own savings money and investments from family and friends to make a prototype and manufacture 1000 units. She sold the innovative mop locally in Long Island, before taking it to the shopping channel QVC where she sold 18,000 mops herself in 20 minutes.
Mangano incorporated her business as Arma Products (later renamed Ingenious Designs), and sold the business to USA Networks, the parent company of the Home Shopping Network, in 1999. Even ten years after the launch, Mangano was still selling $10 million worth of Miracle Mops per year.
Joy Mangano’s Inventions
Joy Mangano is known for her innovative inventions that have been sold on the Home Shopping Network (HSN) and beyond. Her most popular invention, Huggable Hangers, sold more than 300 million units and is the best-selling product in HSN history.
Her other inventions include Forever Fragrant, a line of home odor neutralizers that earned her the Good Housekeeping Seal of Approval, Clothes It All Luggage System, Performance Platforms shoes, Comfort & Joy Textiles bedding, Shades Readers reading glasses, and GreenPan Cookware.
Mangano has sold over 13 million pairs of Shades Readers and GreenPan Cookware sold 24,000 pieces in four hours on HSN. She is considered the network’s most successful inventor with annual sales of over $150 million and her hourly sales regularly top one million dollars.
For her inventions, Mangano has received numerous awards and accolades including being named Long Island Entrepreneur of the Year by Ernst & Young and Fast Company’s list of The 100 Most Creative People in Business. She also owns a restaurant called Porto Vivo in New York and released her autobiography, “Inventing Joy,” in 2017.
David O. Russell’s “Joy” Film: A Loose Portrayal of Mangano’s Life
David O. Russell’s 2015 film “Joy” starring Jennifer Lawrence loosely based on Mangano’s life. Lawrence won the Golden Globe for Best Actress for her portrayal of Joy and was nominated for an Oscar. The film was also nominated for a Golden Globe for Best Motion Picture Musical or Comedy.
A stage production depicting Joy’s life story is being developed by Ken Davenport, a Tony-winning producer who acquired the musical rights with plans to bring it to the stage.
Joy Mangano’s Personal Life
Joy Mangano married Tony Miranne in 1978 after meeting at Pace University. They had three children together named Christie, Robert, and Jacqueline Marianne. The couple divorced in 1989, and Mangano currently resides in St. James, New York.
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