How did the richest self-made person you know, under 35, obtain their wealth?

No one is truly self-made but this excludes the people that got their wealth, job, or a $100,000+ loan to start their business from their super rich dad or family.

By know I mean people that you have actually met and had a conversation with. Not the richest person "you know of." (Ex. Mark Zuckerberg)

How much is their wealth? 1,000,000? 10,000,000? 100,000,000?

 

Real estate. And in Dallas they either started at Trammel Crow or Henry S Miller. They all have their own brokerages now and development companies. 2nd houses in Aspen kind of thing, boats, etc.

 

Yeah dude I have no idea why more people don't go in RE. There is so much opportunity to make so much money here. All these stockboys running around clamoring for a $200K high phinance salary

heister: Look at all these wannabe richies hating on an expensive salad. https://arthuxtable.com/
 

When you say "go in RE," are you referring to the act of just buying any property to flip or rent? I would think the market is pretty saturated. I don't know many people who could go out and get loans to buy rental properties without forming a Partnership or an S-Corp of some sort.

 
Most Helpful

Was going to say real estate as well. A mentor of mine had a net worth of $8MM by the time he was 35 (more now). Just started out buying rental properties and scaled up.

Good friend of mine is 31 and is worth a few million. He can realistically live off of his passive income. Not like a second house and a yacht type of deal. But he could sit at home all day, make a phone repair phone calls, and afford to live comfortably but within means. He doesn't and is aggressively trying to scale up.

“The three most harmful addictions are heroin, carbohydrates, and a monthly salary.” - Nassim Taleb
 

He was a carpenter, became a home builder, took a bank loan to fund his own contractor business, developed a strong reputation for details in his builds and thus started getting 1M+ homes to build, then spun our a realty business handling that side of the transactions, and then those same clients returned years later for home renovations which became even bigger than his primary construction business.

Now he has excellent people running all sides and he's funding commercial deals left and right.

He's a little north of 35 now but he was very well set and taken care of by the time he hit 35. I'd easily guess he is in the 10M range now, possibly a little over. He has a beach house but neither that or his primary residence is something that screams money.

Get your facts first, then you can distort them as you please.
 

One started a gambling website which was acquired, the other started a game studio which was acquired. This was some 10 years ago, and both dudes were in their early 20s when this happened...both are financially independent and pretty much retired from working.

 

Natus ducimus cum eum a ducimus perspiciatis amet. Unde eligendi dolor maxime et. Rerum provident beatae dolor laboriosam alias incidunt. Odio eveniet facilis debitis earum doloribus.

Ea dicta quasi consequatur dolore voluptatem in. Dignissimos aliquam sit perferendis aut. Ipsam exercitationem dolorem ex quis omnis suscipit dolores. Eveniet totam quia voluptate rerum vel ipsum quis.

Veritatis alias facere aut possimus perspiciatis voluptas vel molestias. Illo numquam officia beatae in. Quam labore deserunt quia vel omnis.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”