Glenn Stearns has to do it all without access to any of his existing wealth

Discovery has set a premiere date for Undercover Billionaire, a reality show in which real-life billionaire Glenn Stearns adopts an alias and attempts to start a million-dollar company without using any of his existing wealth or connections.

With just $100 in his pocket, Glenn will ditch his private jet and yacht and head to Erie, Pennsylvania, where he will assume the alias Glenn Bryant a regular guy whos spent the last 30 years in corporate America but always dreamed to have a business of his own. To make things fair, he wont use his real name, contacts or wealth, Discovery said in a statement. Along the way, hell share practical tips and the knowledge on how to build a fortune from his three decades in business. But in order to succeed, Glenn will need to come up with a million-dollar idea and find a team to help him build it.

Stearns street smarts will be put to the test to see if he can become a self-made man for the second time in his life. He was born to a working-class family, diagnosed with dyslexia and fathered a child at the age of 14. Despite the odds, he became the first in his family to graduate from college and amassed a considerable fortune with his own mortgage company, Stearns Lending LLC, as well as a settlement company, Carriage Escrow.

After the 90 days are up, Stearns will reveal his real identity and background and give the top performing team members a stake in the company theyve built and a key role in running it. A financial evaluator will assess the value of the business to see if its worth $1 million. If its not, Stearns has promised to put $1 million of his own money into it, so no matter what happens, the rest of his team cant lose.

Undercover Billionaire is produced for Discovery Channel by This is Just a Test, Aengus James, Colin King Miller, Tim Warren and Cynthia Childs as executive producers and Melinda Cea as a co-executive producer. Joseph Boyle and Carter Figueroa are executive producers for Discovery Channel,and Jessica Mollo is associate producer.

Undercover Billionaire premieres Tuesday, August 6 at 10/9c on Discovery.

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