Rick Harrison Net Worth: Master of Negotiation and Reality TV

Rick Harrison is an American business owner and reality TV star who has a net worth of $9 million. Rick Harrison is part of the Harrison family, which owns the Gold and Silver Pawn Shop in Las Vegas, Nevada. The Harrison family has become famous thanks to the reality television show “Pawn Stars,” which follows the antics and hijinx that take place in the Gold and Silver Pawn Shop.

Rick Harrison Early Life

Richard Kevin Harrison was born in Lexington, North Carolina, on March 22, 1965, to Richard Benjamin Harrison Jr. and Joanne Harrison. Richard is the third child. He had an older sister Sherry who died when she was six, and has an older brother Joseph and a younger brother, Chris. His father is a veteran of the U.S. Navy. When Harrison was two years old, his father was transferred to San Diego, and the family relocated. Harrison had epileptic seizures starting at age eight. As this often confined him to bed, it led to a lifelong love of reading for Harrison. Harrison attended Taft Middle School in San Diego but dropped out during his sophomore year to pursue his “$2,000-a-week business of selling fake Gucci bags.” The Harrison family moved to Las Vegas, Nevada, in April 1981.

Rick Harrison Career

Once the family settled in Las Vegas, Harrison’s father opened his first secondhand store in 1981. The original Gold & Silver Coin Shop was a 300-square-foot hole in the wall on Las Vegas Boulevard. Harrison worked in his father’s store during the daytime. At night, he repossessed cars. In 1986, the store moved to a larger space in downtown Las Vegas. Unfortunately, in 1988, the Harrisons lost their lease on that space. They then moved the store to a new commercial building on Las Vegas Boulevard. Harrison and his father had talked for years about converting the coin shop into a pawnshop. To them, it felt like the natural evolution of their business. That wasn’t that easy to do, however, due to a Las Vegas law dating back to 1955 that required the issuing of new licenses for pawn shops to be limited based on the city’s population. By 1988, Las Vegas had a population of over 640,000 in the greater metro area. Harrison called the city’s statistician every week so that they could apply for one of the city’s rare and coveted pawn licenses as soon as the population of Las Vegas hit the next benchmark that opened up those licenses. That happened the following year, in 1989, and the Harrisons were granted their pawn license. The same year, Harrison and his dad opened the Gold & Silver Pawn Shop not far from the Las Vegas Strip. They co-owned the shop until his father’s death in 2018.

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Rick Harrison Growing the Pawn Shop

A pawn shop license did not guarantee success as there were large nationwide pawn chains that Harrison needed to compete with. One of the ways through which Harrison managed to achieve early success was to set the business up differently and target a niche market.

“As a small business owner with big competition, we had to figure out a way to be different. We saw an opportunity to invite people to sell their rare and unusual items at our shop, in addition to conducting our usual pawn business. Now, when the big corporate pawn shops get an item, they don’t recognize, they send the customer to us,” said Harrison.

Rick Harrison Lawsuit

After the death of Richard Harrison, AKA “The Old Man,” in 2018, Rick’s mother, Joanne, filed a lawsuit in a dispute over family assets and ownership of their Las Vegas pawn shop. It alleges that while she was hospitalized in 2000/2001, Rick had her sign over her 51% ownership in the business. The lawsuit says that when Richard passed away in 2018, Joanne then inherited his 49% share of the pawn shop, but Rick failed to provide her with complete documentation of its finances. Joanne also alleges she has been unable to get a proper accounting of more than $500,000 in cash and silver she believes her husband accumulated before his death. Joanne Harrison seeks unspecified damages, an accounting of assets, and a court order banning Rick Harrison from using the funds belonging to her and a “constructive trust” over property that belongs to her.

Rick Harrison Personal Life

When Harrison was 17, his girlfriend Kim got pregnant. Despite a miscarriage, the couple decided to marry. Their first child, Corey, was born on April 27, 1983. Two years later, their second child, Adam, was born. Soon after Adam’s birth, Harrison and Kim separated. Nine months later, Harrison met the woman who would become his second wife, Tracy, on a blind double date. After dating for six months, they moved in together, and eight months after this, they married and assumed the responsibility of raising Corey and Adam. They later divorced.

Rick Harrison Real Estate

In 2019, Harrison listed his Red Rock Country Clubhouse in Summerlin in Las Vegas for $3.99 million. The 8,845-square-foot home was built in 2001. He bought the house in 2016 and spent about $600,000 on renovations. The flooring in the formal sitting room is made of granite that is acid-washed, cut into planks, and laid like a hardwood floor at a cost of $45,000. The home has two bedrooms on the lower level and two on the upper level. The home also has a gym that can be used as a bedroom. The home has seven baths, a 12-seat home theater with a 150-inch screen and a curtain. A wine cellar holds more than 1,000 bottles. The home has an elevator and a central sound system where someone with a phone can play music in any room.

FAQs

Who is Rick Harrison?
Rick Harrison is an American businessman and television personality best known for his role on the reality TV show Pawn Stars, which features the Gold & Silver Pawn Shop in Las Vegas, Nevada.

What is Rick Harrison’s net worth?
As of now, Rick Harrison has an estimated net worth of $9 million.

When and where was Rick Harrison born?
Rick Harrison was born on March 22, 1965, in Lexington, North Carolina.

What is the Gold & Silver Pawn Shop?
The Gold & Silver Pawn Shop, co-owned by Rick and his father, Richard Harrison, is a pawn shop located in Las Vegas that became famous through the reality show Pawn Stars. It specializes in rare and unusual items.

Conclusion

Rick Harrison’s journey from a young entrepreneur selling fake Gucci bags to a successful businessman and reality TV star illustrates the power of perseverance and adaptability. Through his involvement with the Gold & Silver Pawn Shop and the hit show Pawn Stars, he has not only built a substantial net worth of $9 million but also carved out a unique niche in the competitive pawn industry. Despite facing personal and legal challenges, Harrison’s ability to innovate and connect with customers has contributed to his enduring success. His story highlights the impact of family, resilience, and a passion for history in achieving one’s goals.

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