He believes his product will have a significant impact on both farmers and water conservation.
So, in Shark Tank Season 5, Episode 7, he presented his deal, asking for $150,000 in exchange for a 20% stake in his company.
Did the transaction go through? And how did Tree T Pee amass a net worth of around $100 million?
What is Tree T Pee’s Net Worth?
The estimated net worth of Tree T Pee in 2022 is in the vicinity of $100 Million.
Taking John Paul DeJoria’s advice, the proprietor of Tree T Pee is now selling the product for $8 per unit.
This is an increase from its original price of $4.50, when each sale generated only $1.55 in profit. Additionally, global reach has increased the sales margin.
What’s Tree T Pee?
Tree T Pee is a straightforward plastic device that is attached to the base of trees.
This device, shaped like a teepee, collects up to three inches of rainwater per hour, which is then fed to the tree roots.
Rather than using 25,000 gallons of water per tree annually for irrigation, the farmer uses only 800 gallons when he wraps his trees with Tree T Pee.
Who’s Tree T Pee’s Owner?
Johnny Georges is the establishment’s owner.
Rick, however, was the inventor of the first cone-shaped water-saving device that was wrapped around the base of citrus trees. Together with his father, Johnny modified the design.
The result was a teepee-shaped structure that not only protected fruit trees from frost, but also reduced water usage.
Tree T Pee’s Shark Tank Appearance
Johnny George’s appearance on Shark Tank served as an effective marketing platform, and the popularity of his teepee device continues to rise. As a result of less water pumping, farmers are reporting significant reductions in their electric bills.
In addition to being cost-effective and saving time, these devices also protect trees from frost damage.
How’s Tree T Pee Company Doing Today?
In 2013, when he pitched his product on Shark Tank, Johnny George had sold 125,000 units.
After his debut, he sold thousands of copies overnight, and his sales have continued to rise ever since. The two partners launched a campaign to distribute their Tree T Pee product in 80 countries.
Today, Johnny George and John Paul DeJoria are still working together to sell Tree T Pee. The product is currently available for $9.95 on the company’s website.