Legacy Shave Net Worth 2025 – Mike & Dave Gutow’s Success Story

In the evolving world of men's grooming, innovation remains paramount. Legacy Shave has distinguished itself by introducing unique products that redefine the shaving experience. Founded by brothers Mike and Dave Gutow, the company has achieved significant milestones, including a net worth estimated at $6 million as of 2025.

Biography

Early Life and Education

Mike and Dave Gutow, brothers from St. Clair Shores, Michigan, both pursued business degrees at Michigan State University with a shared interest in entrepreneurship. It was during their college years that inspiration struck—sparked by their father's deep appreciation for traditional grooming tools. Recognizing a gap in the modern shaving experience, they conceptualized a unique product: a shaving brush attachment that could seamlessly connect to a shaving cream can, offering a luxurious, barbershop-like lathering experience at home.

This innovative concept marked the earliest vision for what would later become Legacy Shave. Over two decades ago, with encouragement and technical input from their father, the Gutow brothers crafted an early working prototype of their design. Their father played a pivotal role—not only as a motivator but also as a hands-on supporter who helped refine the product’s initial structure.

Tragically, after their father’s passing, the brothers made a touching discovery: he had quietly assembled 3,000 of the original Legacy Shave brushes, leaving behind not just parts but a lasting legacy. This emotional moment served as a powerful catalyst, motivating Mike and Dave to honor their father's efforts by officially launching the product and sharing their story with the world. What began as a college brainstorm evolved into a heartfelt mission to modernize grooming while preserving the elegance of a time-honored tradition.

Career

After finishing college, Mike and Dave Gutow put their shaving brush idea aside and started regular jobs. But when their father passed away, they felt a strong push to follow through with the idea they had once shared with him. In 2016, they started their company called Legacy Shave, bringing their special product—the Evolution Brush—to the market.

The Evolution Brush is a smart mix of old and new. It connects to a regular shaving cream can and lets people enjoy a smooth, barbershop-style shave at home. It was also protected by a patent, which meant no one else could legally copy it.

In 2017, the brothers wanted to grow their business, so they went on the popular TV show Shark Tank. They asked the investors for $300,000 in exchange for 10% of their company. One of the Sharks, Lori Greiner, liked the product and offered $1 million—but only if she could own the whole company. She also offered to give them 3% of future sales for life.

After some talking, they made a deal with Lori for $700,000 and 95% ownership, while the brothers kept 5%. This deal helped Legacy Shave reach more people, make more brushes, and keep their dad’s dream alive.

Personal Life and Relationships

Mike and Dave Gutow like to keep their personal lives away from the spotlight. They don’t share much about their families, relationships, or hobbies, and there’s very little public information available about what they do outside of their business. This shows they value their privacy and prefer to let their work speak for itself.

What we do know is that they have a strong bond as brothers. Their teamwork, from creating Legacy Shave to appearing on Shark Tank, shows they support each other both personally and professionally. Even though they stay quiet about their private lives, their journey together in building a company suggests they come from a close and supportive family. Since launching Legacy Shave, their main focus has been growing the business and honoring the memory of their father.

Legacy Shave Net Worth

As of early 2025, Legacy Shave is estimated to be worth around $6 million. This marks significant progress for the company, especially since its appearance on Shark Tank in 2022, where Mike and Dave Gutow secured a $700,000 investment from Lori Greiner in exchange for 95% ownership. Since then, the business has experienced steady growth, increased visibility, and greater demand for its Evolution Brush product. With strong branding and effective marketing, Legacy Shave has reached new markets and earned a loyal customer base.

The company’s current annual revenue is approximately $1.9 million, showing that it has become a sustainable and profitable venture. Much of this success is credited to the exposure from Shark Tank, as well as the quality and uniqueness of the product itself.

Key Financial Highlights (2025):

• Estimated Net Worth: $6 million

• Annual Revenue: ~$1.9 million

• Major Boost From: Shark Tank deal with Lori Greiner (2022)

• Main Product: The Evolution Brush

• Ownership: 95% Lori Greiner, 5% retained by the Gutow brothers

Comparison of Net Worth with Other Celebrities

7 Interesting Facts About Mike and Dave Gutow

1. Family Inspiration: The Evolution Brush was based on a concept their late father envisioned but couldn't bring to market.

2. Rediscovered Prototypes: After their father's passing, they found over 2,800 assembled brushes in his basement, motivating them to start the business.

3. Shark Tank Deal: They secured a $700,000 investment from Lori Greiner for 95% equity in Legacy Shave.

4. Media Features: Legacy Shave has been highlighted on platforms like "Good Morning America" and "The View."

5. Product Expansion: Beyond the Evolution Brush, they've introduced gift sets and other grooming accessories.

6. Commitment to Quality: The Evolution Brush is designed to fit most standard shaving cream cans, enhancing its versatility.

7. Rapid Crowdfunding Success: Their Kickstarter campaign surpassed its goal in less than 24 hours.

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Current Status and Future Plans

As of mid-2025, Legacy Shave is doing well and continues to grow steadily. Customers can buy the Evolution Brush and other grooming accessories through the company’s official website, as well as on major online retailers like Amazon. The brand has earned positive reviews for its creative design and the convenience it brings to everyday shaving.

Looking ahead, the company is working on expanding its product line to include more grooming tools and accessories. Their goal is to become a well-known name in the men's grooming industry—not just in the United States, but around the world. The team also plans to explore international markets, aiming to make their products available to a global audience.

Current Highlights:

• Available on: Official website & Amazon

• Focus: Innovative, user-friendly grooming tools

• Expansion Plans: Exploring international sales

• Product Development: New grooming items in progress

• Goal: Grow into a global grooming brand

Social Media Presence

Legacy Shave maintains an active social media presence to engage with customers and showcase their products.

• Instagram: @legacyshave

• Facebook: Legacy Shave

• Twitter: @legacyshave

Conclusion

Legacy Shave's journey from a family-inspired idea to a multimillion-dollar company exemplifies innovation and dedication. By honoring their father's legacy, Mike and Dave Gutow have revolutionized the grooming industry, offering products that blend tradition with modern convenience.

FAQs

1. What is Legacy Shave's flagship product?

   The Evolution Brush, a shaving brush that attaches directly to a can of shaving cream.

2. Who founded Legacy Shave?

   Brothers Mike and Dave Gutow.

3. When did Legacy Shave appear on "Shark Tank"?

   In 2017.

4. Which Shark invested in Legacy Shave?

   Lori Greiner.

5. What was the investment deal on "Shark Tank"?

   $700,000 for 95% equity.