What It’s Like to be Worth $50M in a 2400 Person Town

Moneywise

Hampton

Business, Entrepreneurship, Investing

4.8 • 674 Ratings

🗓️ 17 September 2024

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ever wondered what it feels like to be the richest person in a tiny town in the middle of nowhere? Today’s guest, Travis, is worth $50m, yet he’s never been tempted to leave his hometown of 2400 people. Travis has already had an exit of $25m, and he’s about to double that with a second exit. Now he’s navigating life as the local big shot. From curious neighbors asking about his money to balancing wealth without being flashy, Travis shares the surprising perks—and awkward challenges—of being a big fish in a very small pond. In this episode, Travis shares why he chose to keep his family and business in a small town and why he believes more people should consider doing the same. He reveals the highs and lows of small-town life after wealth, from nosy neighbors to giving back to his community in ways that wouldn’t be possible in a big city.. This is Moneywise, a podcast where host Sam Parr is 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. 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: Travis's Business Journey (02:48) Challenges of Wealth in a Small Community (11:44) Spending and Lifestyle Choices (15:29) How He’s Invested (20:30) Impact on the Community (24:27) Raising Kids in a Small Town (34:12) Conclusion and Advice (37:14) This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Transcript

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0:00.0	We had teachers approach my daughter, you know, when this first happened being like,
0:07.9	hey, I heard your dad sold for X amount.
0:09.9	No way.
0:11.4	If you're a man between the ages of 30 and 45, today's episode is about a dream that all of you have definitely had before.
0:19.6	And if you're a woman, you maybe have had this,
0:21.3	but I'm a man so I can tell you that most every man I know has had this dream. You see, the
0:26.0	episode is with my friend Travis, and Travis is worth around $50 million. And yet, Travis lives
0:32.8	in a town of around 2,400 people. And I don't mean one of these small communities near a major city.
0:38.3	I mean out in the middle of nowhere, a tiny, dark, cold, rural area of Canada.
0:44.4	It's his hometown.
0:46.1	I'm a fifth generation.
0:47.7	9-3-9ers.
0:48.8	My great-great-grandfather was one of the founders.
0:51.7	My dad was a school teacher here for, you know, 30 years. So my
0:55.4	kids are our sixth generation. So why is this interesting? Well, Travis can live anywhere with his
1:00.3	net worth. However, he chooses to stay in his small town. And the reason being is Travis in his business,
1:06.2	they own the nicest office building in the center of the town. They host barbecues for the towns,
1:11.7	dozens of people within the town work at his company.
1:14.6	And they almost like use his office like a community center,
1:17.5	which kind of makes Travis almost like the unofficial mayor of his town.
1:21.6	And in this episode, Travis makes an amazing case
1:24.3	for why you should consider living in a small town like this.
	...

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