Shark Tank judge and millionaire Barbara Corcoran reveals why she refuses to fly first class

Barbara Corcoran is the founder of The Corcoran Group and is a self-made millionaire. She is also a judge on Shark Tank. (Image credit: @barbaracorcoran/Instagram)

Millionaire Barbara Corcoran prides on being frugal when it comes to travelling and she prefers to fly in first class. The 75-year-old investor and judge on Shark Tank travels extensively and has homes across the country but refuses to shell out extra money for first-class plane tickets to travel between them, CNBC Make It reported.

“The way I figure it is, a coach [economy] ticket [costs] about 25 percent of a first-class ticket,” Corcoran said during an appearance on The Jamie Kern Lima Show. “I get the free miles and I can give them away. I have everybody in my family flying on my free miles.”

She added that being able to give free trips to her family is more important than being “comfortable in first class” for a few hours. “I guess I could afford to do both, but I won’t because I’ll be in coach feeling really smug because I know I have three plane tickets that could take somebody somewhere,” Corcoran said. “It accumulates, you know?”

The "shark" also said that having the miles to give away also helps her ensure that her homes are always being used. “There’s not a single bed in any of my homes that’s ever empty. Boy, is that satisfying,” she said.

This, however, isn't the first time that the entrepreneur addressed being frugal. Speaking to CNBC Make It in 2018, Corcoran said she “couldn’t fathom justifying” the price tag of a first-class or business-class ticket.

The self-made millionaire also shared that she opts to carry fresh fruit, cheese, and a baguette or croissant rather than spending money at the airport.

“When I sit there and open up my little gourmet meal, I’m telling you, it’s much better than anybody’s getting up in the business or first class,” Corcoran had said. “I’ve managed to make my own specialness out of a cheap seat.”