Steve Glew is a unique name in the world of rich and famous people. He was a regular machine operator who found an unexpected way to become rich. What was that way?
Most importantly, what is Steve Glew net worth ? Wait, Hold on. We will tell you the answers to all these questions.
His job might seem ordinary, but his journey to becoming wealthy is extraordinary. Steve’s journey is like something out of a movie.
We will also look at Steve Glew net worth and how his life took this unique twist and learn the fascinating secrets behind his unusual path to success.
Who is Steve Glew?
Steve Glew is a Michigan machine operator who amassed his fortune through the illicit transportation of Pez dispensers from Europe to the United States.
Source: Yahoo sports
He also transformed his passion for collecting candy dispensers into a lucrative smuggling enterprise. This was worth a million dollars and gave his life a good turn.
But the question is, how much money did he make from this candy dispenser? Let’s look at Steve Glew net worth and earnings.
Steve Glew Net worth:
| Steve Glew net worth | $1.5 million. |
| Monthly Income | $400k. |
| Yearly income | $500-800k. |
Steve Glew net worth will surprise you. As of 2023, Steve Glew net worth is approximately $1.5 million. This net worth mainly represents the financial profits he gained throughout his career as a smuggler of the Pez dispenser trade.
But still, the wealth through illegal means ultimately carries some substantial risks as well. From his career of 11 years, he made around $4.5 million by selling candy dispensers in the black market.
Steve Glew Career and Finances:
He belonged to a low-income family and had a difficult childhood. His circumstances pushed him to do something for his living as he had struggled with drug abuse for many years.
Thus, in the ’90s, he started working as a machine operator and earned some money besides his side business.
As per reports, he searched the trash cans of the recycling company and also got cereal boxes by the coupon on those cans. Then, he bought toys offered by the cereal companies as well. Later, he sold those toys at local fairs or events and made money.
Steve’s Income source:
Steve Glew’s primary source of income is from his PEZ dispenser business. He found a man earning a good profit from selling dispensers in 1992. Thus, he got an idea from there and decided to source dispensers from a Slovenian warehouse and sell them at high rates.
Later, in 1994, he saved $4,000 and then travelled to Ljubljana for dispensers. But he did not go there legally; he bribed everyone, including the border control and security cards, to access the warehouse.
Then, he smuggled the dispensers in bulk to the United States. This source increased Steve Glew net worth to a considerable extent. These profits were so high that he travelled to Eastern Europe monthly, with $10,000 in his pocket. He returned to the US with around ten thousand PEZ dispensers every time.
Profit varying of Steve’s dispenser business:
Though he sold the dispensers at high prices, he was still not authorised to sell them legally as PEZ Candy Inc. is not registered with US customs.
Talking about the rates, he bought each dispenser at $0.27 and sold it at $5. Indeed, this is a considerable profit percentage, which increased Steve Glew net worth .
Moreover, it is expected that he will be able to make a profit of $25 to $1,000. 1998, he earned the most significant profit margin and around $75,000. Then he hired six people with him and made a contract with a European Pez Candy executive. European executives helped him to outsource dispensers from Hungary.
Source: the detroit News
Collaboration with a Broker:
He designed eighteen new dispenses and collected $250,000 by taking a loan. He also collaborated with a Toy broker to place bulk orders.
Eventually, the sales increased, and he earned around $2.5 million. Unfortunately, good days do not last long, and he was left with a debt of $250,000. The reason was that PEZ replicated those dispensers and sold them at high rates.
In 2010, he started writing a blog about his life named “The Pez Outlaw” and put it for sale on eBay, amazon.com and movie rights for around 4750,000. Later, Playboy magazine wrote an article about Steve’s life but did not pay him anything.
Steve Glew House:
With growing profits, he was able to make his ordinary life into a luxurious life. His assets include his beautiful farmhouse of 20 acres that he bought in DeWitt and the Pez Outlaw trade Mark. You can also check Jaylan Mobley House that is worth $500,000.
Steve Glew Debt:
Despite having such a substantial net worth, Steve also has a debt of $250,000. It was because of his loss with the Pez dispenser business.
Secondly, he is extravagant and spends a lot of money on useless things. Currently, he pays a large amount of his profits to repay the expenses with the company.
Another significant financial problem he has been facing for several years is because of his stocks of unsold products. He had to return to his life at the farm with his wife. He is trying hard to pay back all debt.
Source: The ABC news
Recently, he has been featured in a Netflix documentary named “The Pez Outlaw”. He received a nominal fee for this documentary.
He also recently raised the cost of his new dispenser after the Netflix documentary. It is expected that his sales would eventually increase, and he would be able to be stable in finances and pay back all debt.
Another way to pay a debt is by writing a book. He thought of writing a book and selling it with high profits.
Also read: Dom Fenison Net Worth 2023-His successful Journey Will Inspire You.
Steve Glew Biography:
| Real Name/Full Name | Steve Glew |
| Nick Name | Steve |
| Gender | Male |
| Date Of Birth | June 1950 |
| Age | 73 years old |
| Birth Place | DeWitt, Michigan |
| Parents Name | NA |
| Height | 6 Feet 3 Inches |
| Languages | English |
| Religion | Christianity |
| Nationality | American |
| Zodiac | Gemini |
| Girlfriend | NA |
| Marital Status | Married |
| Spouse Name | Kathy Glew |
| Children | (Two Children) Josh Glew, Moriah Newman |
| Profession | Machine Operator, Smuggler |
| Steve Glew net worth | $1.5 million |
