Rich Dudes│Jon Taffer Bar Rescued his Way to $14M Net Worth
Discover how Jon Taffer, the renowned business consultant and host of Bar Rescue, built a $14 million fortune helping over 1,000 businesses succeed.
Updated Mar 9, 2023
Many companies on MoneyMade advertise with us. Opinions are our own, but compensation and in-depth research determine where and how companies may appear.
Real Estate
Startups
Balanced Investing
Jonathan Peter Taffer is a renowned entrepreneur, investor, and television personality. He is best known for his role as host and executive producer of the popular television series Bar Rescue where he helps struggling bars and restaurants turn their businesses around.
He is also the founder and CEO of Taffer Dynamics, a consulting firm that helps businesses in the hospitality industry improve their operations and increase profitability.
At 69 years old, Jon Taffer’s net worth of $14 million came from his hard-won successes in the hospitality industry. His investments in businesses like Mojo Group have expanded his portfolio and diversified his income streams.
Jon has earned numerous awards throughout his career and is one of the most respected and influential figures in the hospitality industry.
With his expertise in managing bars, it's no surprise that Taffer went on to own 17 different hospitality businesses.
But here's what might surprise you: Jon doesn't actually make a profit from the bars he rescues on the show. He does receive a fee for his services and uses the show to promote other businesses, but the exact percentage is unknown.
Let’s dive into how Jon used his bar rescue skills to amass a $14 million net worth and how the successful businessman, consultant, and television personality invests his money.
Jon Taffer net worth at a glance:
Net worth | $14 million |
Born | November 7, 1954 |
Nationality | American born in Great Neck, New York |
Became a millionaire at | Age 30 |
Occupations | Bartender, entrepreneur, hospitality consultant, reality tv personality, author |
Sources of wealth | Taffer Dynamics, Taffer’s Tavern, Bar Rescue TV show |
Asset classes | Startups, real estate, and franchises |
How Jon Taffer made his money
How Jon Taffer made his money
Jon Taffer—the man, the myth, the legend—made his first million dollars doing what he does best: managing bars. In 1973, Jon started as a humble bartender at Barney's Beanery in West Hollywood, making a few bucks an hour (plus tips).
He worked his way up to bar manager at The Troubadour nightclub in West Hollywood in 1978, and by 1981 he had full control of the bar. He was quickly moving his way into the big leagues.
Jon Taffer has always had a passion for the hospitality industry. After working for other bars and restaurants, he eventually gravitated towards a career in bar management and opened his own bar in 1989.
This achievement marked a major milestone in his career and was the foundation for his legacy as an expert in the bar and restaurant business. One of his most famous accomplishments is the Troubador, which has become one of the most renowned bars in the United States.
With his expertise in bar management, it's no surprise that Taffer went on to own 17 different hospitality companies and businesses. That's right, 17. He must have been busy.
He also founded the consulting firm Taffer Dynamics, where he helps struggling bars, restaurants, and similar businesses succeed and profit.
And let's not forget his other claim to fame: helping create the NFL's Sunday Ticket. You guessed it, all-American television personality Jon Taffer had a hand in one of America’s most beloved pastimes.
But let's get back to the money. Taffer's fortune didn't just come from managing bars and founding a consulting firm. He also made a pretty penny flipping various bars, nightclubs, and restaurants. He's a regular real estate tycoon, this one.
And finally, we can't forget his hit reality TV show Bar Rescue. Not only has it given him a platform to showcase his expertise and help struggling bars, but it's also made him some serious cash. Although the percentage of profits he makes from the bars he rescues is unclear, it's safe to say that equity and consulting fees have added handsomely to his swelling net worth.
Bar Rescue
Bar Rescue is a reality TV show where bar expert Jon Taffer and his wife Nicole Taffer help struggling bars and nightclubs turn their businesses around. The show has been running for over a decade and Taffer and the show's sponsors pay for all the renovations and changes made to the bars.
Jon Taffer is a well-known bar consultant and entrepreneur and is often referred to as the LeBron James of the food and beverage industry. His show is like Extreme Makeover for bars and has aired over 200 episodes across eight seasons.
The show has had a significant impact on the bars and nightclubs featured on it. Many of them have reported significant increases in business and profitability after appearing on the show.
However, Bar Rescue has faced criticism over the years, with some claiming that the staged conflicts and over-the-top drama detract from the actual bar rescues. While aspects of the show might be fake or played-up, there’s no doubt that Jon Taffer’s bar makeovers are the real deal that help save businesses and their owners from certain demise.
How Jon Taffer invests
How Jon Taffer invests
Jon Taffer has amassed his fortune by buying and selling bars and restaurants while investing in several other assets. He’s effectively developed the businesses of well-known establishments and brands like the NFL, Anheuser-Busch, Ritz-Carlton, Hyatt, Marriott, Holiday Inn, Sheraton, and Intercontinental—and profited.
So, how does Jon Taffer invest? And which assets does he invest in? Let’s look at Jon Taffer’s portfolio and how it has performed.
Nightclub and Bar Media Group
Jon Taffer is a bar expert and media mogul. He's President of the Nightclub & Bar Media Group and oversees the Bar Magazine and the annual Nightclub and Bar Convention. He’s also the chairman of his consulting firm Taffer Dynamics, Inc.
Bar Rescue has been a success since it aired on Spike TV in 2011, with over 1.5 million viewers each episode. Though Bar Media Group doesn't make any profits from the bars they rescue on the show, Jon Taffer still earns a lot of money from it.
The amount? undisclosed.
Taffer’s Tavern
Jon Taffer is a controlling stakholder in Taffer's Tavern. He’s expanding it through franchising and partnering with Fransmart. Despite mixed reviews, Taffer seems committed to the concept.
Investing in Taffer's Tavern seems like a pretty good idea, as long as you don't expect to be a millionaire overnight. The company's revenue as of 2021 was less than $5 million.
The franchise has been expanding rapidly, with partnerships with FranchiseBuy and FranchIMP to help grow the concept. And it's not just small-time investors who are interested in Taffer's Tavern—Middleby Corporation announced their partnership in 2020.
Jon Taffer and Middleby Corporation
The hospitality expert announced an exclusive partnership between Taffer's Tavern and Middleby Corporation in 2020. Taffer’s Tavern features a high-tech kitchen and bar, complete with Middleby's commercial-grade kitchen equipment and beverage systems. And it seems like Middleby will also support Taffer's Tavern's kitchen and bar operations, marketing, and growth strategies.
Of course, Jon Taffer isn't just going to be sitting back and letting Middleby do all the work. As chairman of Taffer's Tavern, he'll be providing his expertise in the hospitality industry to help the partnership grow and thrive. And it seems like both Middleby and Taffer's Tavern are expecting big things from this partnership, with growth opportunities for both parties.
Taffer Dynamics
Jon Taffer also founded Taffer Dynamics, a consulting firm that helps businesses in the hospitality industry improve operations and profitability. He has invested in the company and recently acquired Mojo Group, a marketing and branding firm.
Jon owns a significant portion of Taffer Dynamics and is actively involved in the company's operations and growth.