When Do You Tell Your Date You're Rich?

Moneywise

Hampton

Business, Entrepreneurship, Investing

4.8 • 674 Ratings

🗓️ 6 August 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dating is already weird and vulnerable, but when you’re wealthy, talking finances can feel like dropping a bombshell. In this episode, we explore the complexities of dating with significant wealth and how to handle the inevitable conversations about money. Today's guest, who we'll call Alex, is worth around $133 million. His journey to wealth began with a company he founded with his now ex-wife, and he’s here to share his experiences on navigating the dating world post-divorce. Alex started his entrepreneurial journey with multiple failed ventures before hitting success with his third company, which he co-founded with his ex-wife. After a difficult and non-amicable divorce, which involved complex asset division, Alex found himself back on the dating scene. In this episode, Alex opens up about the unique anxieties of dating with a substantial net worth. He discusses how he avoids flaunting his wealth to prevent attracting the wrong kind of attention. We delve into the challenges of sharing financial details with new partners and the importance of finding someone who shares similar lifestyle values. Alex also shares practical advice on how to approach the conversation about money with transparency and integrity, and his personal experiences in navigating these waters. 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: Meet Alex (02:02) Alex's Modest Lifestyle and Financial Transparency (04:15) Navigating Relationships with Wealth (06:54) Alex's Approach to Dating (11:06) Power Imbalance and Financial Compatibility (18:50) Final Thoughts and Advice (26:17) This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Transcript

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0:00.0	It's like, good for you.
0:08.0	You've clearly done well.
0:09.4	And just, like, not impressed or, like, seemingly unimpressed by it.
0:13.6	Dating is already this weird and vulnerable thing.
0:16.6	We're getting to know people, sharing details from our lives,
0:19.4	small things like the types of books and movies we like, to the big things like our family, our traumas, and of course, our finances.
0:26.8	For us, that part can feel like you're holding it onto a bombshell.
0:30.4	And it's not really that big of a deal if it doesn't change who you are, but money is weird, and it makes people feel weird.
0:36.2	So there are a couple of anxieties that come with sharing how wealth you are.
0:39.5	Like if people are going to take advantage of you,
0:41.2	or if the power imbalance will make things feel awkward.
0:44.1	And then there's the anxiety that you're going to come off kind of douchy or braggy
0:47.4	because of the way that you address it.
0:49.3	There is always the end of early dates that urge to like flex a little bit. And that, my friends, is what we're going to talk about on today's episode of MoneyWise.
1:01.2	I'm Sam Parr and this is MoneyWise.
1:06.0	Look, you can scroll through Instagram for just 30 seconds.
1:08.3	You're going to see a ton of junk out there to teach you how to become rich, but not a lot that teaches you how to handle life after you've already
1:14.3	made some money. I'm co-founder of a company called Hampton. You can check it out at joinhampton.com.
1:19.0	It's a community of CEOs and business owners. Our members range from startups with just 10
1:23.9	employees to publicly traded companies with hundreds of millions in revenue. And so because of that, I'm able to see all these awesome private conversations about money,
1:31.2	and I think a lot of them should be done in public. Hence, this podcast.
1:35.8	With MoneyWise, we provide advice by speaking to real people who have made a lot of money,
	...

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