Barbara Corcoran is a self-made millionaire: Why she refuses to fly first class
Barbara Corcoran has homes all over the country, but the self-made millionaire won't shell out for first class plane tickets to travel between them.
The "Shark Tank" judge, who made her millions when she sold The Corcoran Group for $66 million in 2001, said in a recent interview that she prefers to fly coach rather than swallowing the cost of a premium plane ticket.
"The way I figure it is, a coach ticket [costs] about 25% of a first-class ticket," Corcoran said while appearing on The Jamie Kern Lima Show. "I get the free miles and I can give them away. I have everybody in my family flying on my free miles."
For Corcoran, being able to give free trips for her family is more important than being "comfortable in first class" for a few hours.
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"I guess I could afford to do both, but I won't because I'll be in coach feeling really smug because I know I have three plane tickets that could take somebody somewhere," she said. "It accumulates, you know?"
Having the miles to give away also helps her make sure that her multiple homes are always being used.
"There's not a single bed in any of my homes that's ever empty," she said. "Boy, is that satisfying."
Money Report
It's not the first time that Corcoran has discussed her frugality when it comes to travel. Speaking to CNBC Make It in 2018, the entrepreneur said she "couldn't fathom justifying" the price tag of a first class or business class ticket.
On top of that, Corcoran said she doesn't spend money at the airport, opting instead to bring her own pre-packed food meal consisting of fresh fruit, cheese and a baguette or croissant.
"When I sit there and open up my little gourmet meal, I'm telling you, it's much better than anybody's getting up in the business or first class," she said at the time. "I've managed to make my own specialness out of a cheap seat."
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