Le-Glue Net Worth – How Tripp Phillips is Thriving After Shark Tank Success

Legos have always been a source of joy and creativity for kids and adults alike. However, anyone who’s tried building a large masterpiece with them knows the frustration of fragile structures and pieces falling apart. Enter Le-Glue, a groundbreaking product invented by a 12-year-old named Tripp Phillips. This water-soluble adhesive helps strengthen Lego creations while allowing them to be disassembled when needed. Tripp and his father pitched Le-Glue on Shark Tank and secured a deal with Kevin O’Leary. As of 2024, Le-Glue Net Worth is an impressive $1.6 million.
About the Founder
Tripp Phillips and his family live in Dalton, Georgia. His entrepreneurial journey started at an incredibly young age when he was tasked with creating an invention for school in third grade. His teacher gave the students a choice: write a paper or invent something. Tripp chose to invent, following his dad’s advice to identify a problem and create a solution.
While playing with his Lego airplane at home, Tripp noticed that its wings kept falling off. This sparked the idea for a special glue that could hold Lego pieces together without making them permanently stuck. His father, Lee Phillips, immediately recognized the brilliance of the idea and joined his son in bringing it to life.
Founding Le-Glue
The father-son duo collaborated with a friend from 3M, a company known for adhesives, to develop the product. With Lee Phillips’ background as a lab director, they had the tools to create a temporary yet strong adhesive that could dissolve in water for easy disassembly.
Thus, in 2015, Le-Glue was born, and at just 10 years old, Tripp became one of the youngest patent holders in the United States. His invention won first place in the International Torrance Legacy Creativity Contest.
The business started modestly, with Lee investing $1,000 and raising an additional $3,300 through a Kickstarter campaign. Over the next three years, the startup earned $125,000, mainly through sales on its website.
Shark Tank Appearance
Tripp Phillips was an avid fan of Shark Tank and always dreamed of pitching his product on the show. That dream came true in 2018 when he and his father appeared on season 10. They were seeking $80,000 in exchange for 15% equity in Le-Glue.
Their pitch was a family affair, with Tripp’s sister, Allie, helping with the demonstration. The Sharks were charmed by Tripp’s entrepreneurial spirit and impressed by the profit margins. Kevin O’Leary, also known as “Mr. Wonderful,” offered $80,000 for 50% of licensing revenue until his investment was recouped, after which his equity stake would drop to 20%.
Although Daymond John made a competing offer, Tripp and Lee ultimately partnered with Kevin, hoping to leverage his experience with licensing deals.
After Shark Tank
After the show, Tripp and Lee worked closely with Kevin O’Leary to secure a licensing deal. The partnership paid off as Le-Glue saw a significant boost in revenue. In the year following their Shark Tank appearance, the company earned over $500,000. Tripp revealed in an interview that Le-Glue was generating approximately $18,000 in monthly revenue.
Le-Glue has since expanded its reach, with distribution channels in the United Kingdom, South Africa, and China. The product is available on Amazon, Walmart, Learning Express, and several independent toy stores. Its Amazon listing has an average rating of 3.9 stars from over 2,000 reviews.
In 2020, the company diversified its offerings by manufacturing hand sanitizers to support local communities during the COVID-19 pandemic. Looking ahead, Le-Glue plans to enter new markets, including Australia and Canada. As of 2024, Le-Glue Net Worth is valued at approximately $1.6 million.
Tripp Phillips, now 15 years old, is balancing his entrepreneurial endeavors with schoolwork.
Le-Glue: Key Details
Aspect | Details |
Founder | Tripp Phillips (with his father, Lee Phillips) |
Founded | 2015 |
Product | Temporary, water-soluble glue for Lego creations |
Patent | Tripp holds the patent; became one of the youngest U.S. patent holders |
Initial Investment | $1,000 (personal) + $3,300 (Kickstarter campaign) |
Shark Tank Deal | $80,000 for 50% licensing revenue (Kevin O’Leary) |
First-Year Post Shark Tank Revenue | $500,000 |
Monthly Revenue | ~$18,000 |
Distribution | UK, South Africa, China; sold via Amazon, Walmart, and more |
Net Worth | $1.6 million (2024) |
How Le-Glue Has Grown
Le-Glue’s success story is a testament to the power of innovation, persistence, and strategic partnerships. After their appearance on Shark Tank, Tripp and Lee utilized the platform’s exposure to scale their business significantly. By entering international markets and diversifying their product line during the pandemic, the company demonstrated resilience and adaptability.
The product’s popularity can be attributed to its simplicity and effectiveness. Parents and kids alike appreciate its ability to enhance Lego creations while preserving the flexibility to disassemble and rebuild.
Although Le-Glue has faced challenges, such as maintaining a balance between school and business for Tripp, the company continues to thrive. Its strong brand recognition, positive customer feedback, and innovative spirit ensure it remains a leader in its niche.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial or investment advice. The valuation and figures mentioned, including Le-Glue Net Worth, are based on publicly available data and estimates as of 2024.