$500M Net Worth, $100k Monthly Burn: How Radical Wealth Transparency Has Changed Jess Mah’s Life

Moneywise

Hampton

Business, Entrepreneurship, Investing

4.8 • 674 Ratings

🗓️ 22 October 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jess Mah is worth half a billion dollars—and she’s tired of pretending otherwise. Jess Mah, entrepreneur and founder of InDinero, dives into the power of radical transparency and how it’s impacted her personal and professional life. Raised by an entrepreneurial mother, Jess aspired to success from a young age, but her path to wealth wasn’t always smooth. By 34, she has built ownership stakes in several companies, but more importantly, she’s learned to stop caring what others think about her wealth. In this episode, she shares intimate details of her finances, including how she manages her wealth, why she doesn’t worry about having liquid assets, and why she prioritizes personal cash flow over big exits. We also get into how radical honesty has reshaped her relationships—both romantic and platonic—and how she balances being a CEO with maintaining a fulfilling life. This is Moneywise, a podcast where hosts Sam Parr and Harry Morton are joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. Who is Harry Morton? Harry Morton is the CEO of Lower Street, a company specializing in premium podcast production that he founded to transform brand narratives through audio storytelling. His expertise has made Lower Street a leader in the podcast industry, working with diverse clients from startups to Fortune 500 companies to enhance their market presence and audience engagement. This episode also features an interview conducted by Andrew Namanny. Check out his podcast Permission to Shine. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Jess's Net Worth Breakdown (03:19) Early Life and Career (04:28) Wealth Philosophy (08:28) Jess’s Spending (19:04) Dating Challenges (23:30) The Wall Street Journal Bounty (34:26) Transparency with her Employees (36:56) Dealing with Haters (39:14) The Value of Brutal Honesty (43:08) This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Transcript

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0:00.0	I have my one car, Balambo. I don't even have a backup car.
0:04.1	The first one was a $4 million jet. I had a $100,000 bounty for anyone who found out.
0:10.7	I need a many billionaires. People you've definitely heard of.
0:15.2	This is fucking insane.
0:21.8	Jess Ma is 34 years old and she's worth half a billion dollars.
0:25.5	And you know what?
0:26.2	She's sick of acting like she isn't.
0:28.6	And so she stopped trying to downplay.
0:30.9	What I recognize there is that it's hard to be authentic and transparent.
0:37.1	But to hide who I am and what my life is like, felt like
0:42.4	living in a prison, and I wasn't willing to accept that. Jess has embraced radical honesty,
0:48.0	which means she stopped worrying about other people's opinions. She's stopped hiding how much
0:52.6	money she has, what she does with it,
0:54.7	and what she wants to do with it. Which, by the way, this is perfect for you, a money-wise listener,
0:59.1	someone who listens because you want to hear how high net worth people spend, save, invest their
1:04.0	money. And truthfully, the impact has had on her life, very fascinating. It's changed everything,
1:09.9	dating, friendships, work, even her relationship
1:12.4	with her parents. And she's here on MoneyWise to tell us all about it. My friends, I'm Sam Parr,
1:18.3	and this is MoneyWise. You can spend just a few minutes on social media and you're going to see
1:22.4	tons and tons of junk out there on how to get rich, but nothing that teaches you how to handle
1:26.9	life after you've already made a little bit of money. I'm the co-founder of a company called Hampton.
1:31.2	It's a community of CEOs and business owners. Check it out, joinhampton.com. Our members range
	...

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