I Turned $1M into $2.3B (Then Blew It Up and Rebuilt)

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 30 June 2025

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want Sam's playbook to turn ChatGPT into your executive coach? Get it here: https://clickhubspot.com/etb Episode 722: Sam Parr ( https://x.com/theSamParr ) sits down with Mike Novogratz ( https://x.com/novogratz ) about risk tolerance and coming back from massive losses. — Show Notes: (0:00) Mike’s first million (8:37) Starting Fortress (13:55) $30M to $2.3B (25:28) Operating system for life (35:41) Being early on crypto (40:26) Risk tolerance — Links: • Fortress - https://www.fortress.com/ • Galaxy - https://www.galaxy.com/ • Business Untitled - https://www.youtube.com/@BusinessUntitled — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Transcript

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0:00.0	I'm a good guy to sit around a campfire with drinking because I got a lot of stories.
0:04.7	This is Mike Novagrats. Mike grew up as a poor kid on Long Island,
0:08.4	made his first million working as a trader at Goldman Sachs at the age of 32,
0:12.0	and made its first billion at the age of 40. Is that life-changing?
0:15.3	Yeah. We were the only company ever
0:18.0	were five guys became billionaires in a day. That's wild.
0:21.6	Mike is a cowboy in his personal life and his professional life.
0:25.2	This guy likes to push it and he's max risk all the time.
0:30.6	That's crazy, man.
0:32.4	Mike's made and lost a fortune about two different times.
0:35.5	We made a bunch of mistakes and next thing you know, not only aren't you worth $2 billion,
0:40.3	but you're going under the billion pretty quick.
0:42.3	And you're like, oh shit, that sucks.
0:44.3	And what are you doing?
0:45.3	Like, what's the lesson to be learned here?
0:47.3	The gap between the really greats and the next level, and I put myself in that next level,
0:53.3	is, I feel like I can rule the world,
0:56.7	I know I could be what I want to, I put my all in it like no days off on a road, let's travel,
1:03.4	never look at my life, and who live a certain way that I like. I'm dressed like a cowboy
1:10.1	today because I'm like, you're kind of like a cowboy a little bit,
1:12.6	like the energy that you have.
1:13.6	And that's something that I really respect.
	...

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