6. The iFart app, invented by Joel Comm.
Joel Comm lived the dream of middle school boys everywhere when he invented the iFart, an app that basically turns your phone into a Whoopee Cushion. It retails for $.99 in the iTunes store and was downloaded 113,885 times in the first two weeks it was available. So far, Comm and his company have netted somewhere around $400K.
7. The Wacky Wall Walker, invented by Ken Hakuta.
Ken Hakuta’s mom sent a version of the Wacky Wall Walker to him as a gift from China. Hakuta was fascinated by the toy, so he set about buying the rights to it for $100,000. Then, he began marketing it stateside. So far, the WWW has netted Hakuta about $80 million dollars.
8. The Slinky, invented by Richard James.
James was a naval engineer who was known around the block for being clumsy. After dropping a tension spring and watching it creep along the floor, he had his big idea. He debuted the toy in 1945, and 400 Slinkys sold out in 90 minutes. To date, the Slinky has earned James $250 million dollars.
9. Hula Hoop, invented by Arthur K Melin and Richard Knerr.
At its peak in the fifties, more than 50,000 hula hoops were being manufactured every day. Can you imagine what it must have been like to pitch this (slightly confusing) idea?
10. Beanie Babies, invented by H. Ty Warner.
The Beanie Babies were, at one time, the kingpins of a toy empire larger than any other. They were cute, collectible, and some of them came with whopping price tags. When Warner debuted them at an Atlanta toy show, he sold 30,000 of them. He made them even more desirable by “retiring” certain models, and by making them only available at certain stores. Reportedly, the stuffed animals have earned warner $3-6 billion dollars to date.
