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The Game with Alex Hormozi

How the Top 1% ACTUALLY Make Their Money | Ep 811

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.94.4K Ratings

🗓️ 23 December 2024

⏱️ 35 minutes

🧾️ Download transcript

Summary

Welcome to The Game w/ Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned and will learn on his path from $100M to $1B in net worth.

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Transcript

Click on a timestamp to play from that location

0:00.0

Welcome back to the game. So how do the top 0.1% of the world actually make more money than everyone else?

0:07.3

Well, there's three layers and I'm going to start at the top, which is global. So let's dive in.

0:12.0

How do the top 0.1% in the world actually make more money than everyone else?

0:18.0

There's three layers. Let's start with layer one, global. So if you zoom all the

0:22.7

way out, the top 1% of countries in the world do things differently than the rest of them.

0:26.5

And we can measure the productivity of a country by something called GDP, which is gross domestic

0:31.1

product per capita. Now, the per capita part just means how much total production the economy

0:36.7

does. So just think revenue, think sales.

0:38.9

And then per capita is per person.

0:41.0

And so this allows us to normalize different countries that are big countries versus small

0:44.6

countries and see how much the individual is making.

0:47.5

Now the reason this is so important and why we start at layer one global is because if you

0:51.8

even out everything, you will be able to see the strongest

0:54.6

levers on wealth creation because they're just done in aggregate.

0:57.8

And to be clear, within each country, of course, there are some people that get way more

1:01.8

of that slice of the pie than others.

1:03.8

But even at the global level, there are some countries that get more of the slice of the pie

1:08.0

than other countries.

1:09.7

And so, for example, the United States has the largest GDP in the world, and Tuvalu has the smallest.

1:14.6

Now, per capita, it shifts around.

1:16.6

Luxembourg is actually the country in the world that has the highest GDP per person.

1:20.6

So 151,000.

...

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