“I’m worth about $3 billion” What Happens When You DON’T Sell Your Business

Moneywise

Hampton

Business, Entrepreneurship, Investing

4.8 • 674 Ratings

🗓️ 8 October 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

What happens when you don’t sell your company and keep growing it for decades? For Oscar, it means you become a billionaire. Oscar bought a company every six weeks for 20 years and now his business is worth about $50 billion. Yet, he still wears $15 t-shirts and lives by the values that helped him achieve success. In this episode, he shares how he became a billionaire while always putting family and faith first. He discusses his humble beginnings, the influence of his father, and how he’s now passing on his wealth through a generational trust. From managing a $3 billion stake in his company to owning 300 classic cars and a $49 million private jet, Oscar’s story offers a glimpse into life after massive success—without ever sacrificing who he is. 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 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: Oscar's Lifestyle and Major Expenses (02:32) Military Service and Its Impact (11:18) Building a Business Empire (13:59) Walking Out on Investment Bankers (22:54) Sacrifices for Business Growth (24:58) Family Support and Business Success (28:10) Wealth Management and Generational Planning (32:47) Investment Strategies and Mistakes (37:01) Advice for Young Entrepreneurs (39:29) This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Transcript

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0:00.0	I bought a company every six weeks for 20 years.
0:04.1	Hey everyone, I'm back. It's Sam with Money Wise. Today's episode is extra special because it's with
0:10.2	the first billionaire who's ever been on the show. Now look, billionaires, they're very secretive.
0:15.4	And there's not that many of them. I don't know if there's ever been one who's willingly
0:19.4	revealed all of their finances,
0:21.7	but we have it. That's what we have today. Now, we talk a lot about selling your business on
0:26.5	the show. That's how a lot of people make a lot of money. Because building a business and
0:30.2	selling it for tens of millions of dollars, that's awesome. It opens up an entirely new lifestyle,
0:35.4	an entirely new set of opportunity. But in today's episode, we have Oscar, and his story is what happens when you don't sell.
0:41.4	It's when you keep focusing on growth decade after decade.
0:45.1	What's the valuation today, roughly?
0:47.4	Little over 50 billion.
0:49.2	In this episode, Oscar is going to tell us how he became a billionaire and how his life has changed
0:53.4	along the way, including why his closet is still mostly full of $15 t-shirts.
0:58.0	We're going to hear how he became a billionaire without sacrificing his personal values,
1:02.0	and how he always puts his family first, and how he's passing on a nearly unimaginable amount of wealth.
1:07.0	Have we made it my love? Oh, honey. amount of wealth.
1:17.9	Now, before we get into everything, I want to give a quick shout-out to Andrew Namami.
1:19.0	Andrew has a podcast called Permission to Shine, and we asked him to go and find a billionaire
1:23.4	to interview for this episode of MoneyWise.
1:25.8	And if this is your first time listening to MoneyWise,
1:28.5	here's the gist. You see, Instagram is full of quake hits and all that stuff on how to get rich.
	...

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