TIP435: Why the Youngest Billionaire Walked Away from Wall Street w/ John Arnold & Michael Faye

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 1 April 2022

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU'LL LEARN:

02:57 - John's relationship with money and experience with philanthropy.
07:48 - John's experience as an early employee at Enron, becoming the head of their natural gas trading desk. His early career that led him to become the youngest billionaire in the US in 2007.
15:48 - John's journey in founding his own hedge fund.
51:17 - What led Michael to cofound GiveDirectly.
52:44 - How GiveDirectly operates and why it’s important to start your own philanthropy efforts today.
And a whole lot more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES:

ArnoldVentures.org.
AccelerateCharitableGiving.org.
John on Elon's recent $5.7B DAF contribution.
GiveDirectly.org/WSB - listeners get their first gift to people in extreme poverty matched up to $1000
Michael's op-ed on Foundations / DAFs.
John Arnold’s Twitter.
Michael Faye’s Twitter.
Arnold Ventures’ Twitter.
Give Directly’s Twitter.
Trey Lockerbie Twitter.
Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool.
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Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to TI-P.
0:03.0	A quick note before we start today's episode, Clay, Robert, and I will be attending the Berkshire
0:07.4	Hathway shareholder meeting on April 30th.
0:10.0	If you don't know Clay and Robert, be sure to check out their show Millennial Investing
0:13.4	on our network.
0:14.4	This event is called the Woodstock of Capitalism and it takes place in Omaha, the birthplace
0:18.3	of Warren Buffett and Charlie Munger.
0:20.2	And for those who aren't familiar, all you need to attend the meeting is to be an owner
0:23.3	of a Berkshire B-Share which today is around $350.
0:26.8	Also each shareholder is entitled to a maximum of four meeting credentials so if you're
0:30.6	not currently a shareholder, you may be able to attend through someone you know.
0:33.9	We'll be sending details on this to our email subscribers soon in case you're interested
0:37.7	in meeting up with us.
0:39.8	On today's show, we have a powerhouse duo and that is billionaire philanthropist John Arnold
0:44.6	and Michael Faye, the co-founder of Give Directly.
0:47.9	John was an early employee at Enron becoming a multi-millionaire in his mid-twenties before
0:52.4	starting his own hedge fund.
0:54.3	After retiring from finance, he has been operating full-time at Arnold Ventures, his philanthropic
0:58.8	foundation.
0:59.8	Michael Faye holds a PhD in economics from Harvard and has founded multiple philanthropic
1:04.4	organizations that focus on getting money into the hands of those who need it most.
1:09.0	Give Directly has support from billionaires like John, Reed Hoffman and others.
	...

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