I Met 94 Billionaires … Here’s 6 Things I Learned

Summary

The speaker shares insights gained from working with 94 billionaires, highlighting key habits and mindsets. From texting over calling to valuing time as their greatest asset, billionaires prioritize efficiency and discretion. They are cautious of being exploited, often trusting no one easily, yet are willing to invest heavily in growth opportunities. The speaker emphasizes that billionaires focus on their strengths and leverage others for the rest, revealing a strategic approach to success and a human side to these ultra-wealthy individuals.

Takeaways

• 📲 Billionaires prefer texting over calling to save time and money, valuing the efficiency of communication.
• ⏱ They are experts at not wasting time, making quick decisions and not letting trivial matters consume their focus.
• 🛡️ Billionaires are cautious about being taken advantage of and are selective about who they trust, often guarding their circle of influence closely.
• 💰 They understand the difference between possessions and growth, being frugal in some areas while investing heavily in others for long-term benefits.
• 🏠 Material possessions are not the focus for billionaires; they may live modestly despite their wealth, prioritizing investments over luxury.
• 🚀 Billionaires are willing to spend on investments that offer a return or contribute to their business growth, such as yachts or properties that facilitate networking.
• 🎯 They focus on their core strengths and delegate or leverage others for tasks outside their area of expertise.
• 🔄 Billionaires are quick to move on from relationships that do not serve them, valuing loyalty but also the agility to cut ties when necessary.
• 👥 Despite their wealth, billionaires face 'higher quality problems' and are still humans with everyday issues, albeit on a grander scale.
• 🤝 Building trust and being a reliable problem-solver for billionaires can be a gateway to their exclusive society.
• 🌐 The speaker has gained recognition and a reputation for catering to the unique needs of the ultra-wealthy, as noted by the 'broker to the plutocracy' title.

Q & A

How many billionaires are mentioned in the transcript as being in the speaker's contacts?

The speaker mentions having 94 billionaires in their contacts.

What is the primary mode of communication the speaker uses with billionaires according to the transcript?

The primary mode of communication the speaker uses with billionaires is texting, as it is more time-efficient.

Why do billionaires prefer texting over phone calls as per the speaker's experience?

Billionaires prefer texting because it is a more time-efficient way to communicate and allows them to quickly share thoughts or decisions without the time commitment of a phone call.

Outlines

00:00

📱 Billionaire Communication Habits

The speaker shares insights from interacting with 94 billionaires, emphasizing their preference for texting over calling to save time and money. Billionaires leverage apps like Signal for privacy and quick communication during sensitive real estate transactions. The speaker contrasts this with less wealthy individuals who often prefer lengthy phone calls and meetings. The key takeaway is that billionaires value their time as their greatest asset and suggest aspiring individuals should adopt texting as a means of communication to connect with them.

05:01

🕰 Efficiency and Trust in Billionaires' Lives

This paragraph delves into the efficiency of billionaires, who make quick decisions and do not waste time, as illustrated by their dining habits. It also touches on the trust issues billionaires face, due to past experiences of being taken advantage of. The speaker shares personal strategies for gaining trust, such as working for free initially and becoming part of their outer circle of trust. The summary points out that billionaires are quick to end relationships that do not serve them and value loyalty in their professional and personal lives.

10:03

💰 Understanding Billionaires' Spending and Focus

The speaker discusses how billionaires differentiate between possessions and growth, often being frugal in material possessions while being willing to spend on investments that promise greater returns. Examples include Warren Buffett's modest lifestyle and Elon Musk's lack of material possessions, contrasting with the business-oriented investments in yachts and properties. The main takeaway is that billionaires focus on what they are best at and leverage others for tasks outside their expertise, highlighting the importance of leveraging as a key to success.

👤 The Human Side of Billionaires

In the final paragraph, the speaker humanizes billionaires by sharing that they face problems, albeit of a higher quality, and that they are just like everyone else with their own set of issues. The speaker's role in helping billionaires with their unique problems has led to a deeper understanding and connection with them. The summary emphasizes the importance of being able to solve high-quality problems as a way to integrate into the billionaire society, as illustrated by the New York Magazine profile that dubbed the speaker 'the broker to the plutocracy.'

Keywords

💡Billionaires

Billionaires are individuals with a net worth of at least one billion dollars. In the video's context, they are portrayed as mentors and clients who have unique habits and mindsets that set them apart from others. The script mentions the speaker's direct interactions with 94 billionaires, emphasizing their value of time and efficiency.

💡Texting

Texting is the act of sending written messages using a mobile device. The video highlights that billionaires prefer texting over calling to save time and money, as they value efficiency. It's used as an example of how they operate differently, with Jeff Bezos being cited as someone who makes so much money per second that a phone call could be an inefficient use of time.

💡Value of Time

The value of time refers to the importance placed on not wasting time and using it effectively. The script emphasizes that billionaires are acutely aware of the value of their time, which influences their communication preferences and decision-making processes.

💡Mentors

Mentors are experienced individuals who provide guidance and advice. In the script, the speaker considers the billionaires they work with as mentors, from whom they have learned various habits and mindsets that contribute to success.

💡Real Estate Deals

Real estate deals refer to transactions involving the buying or selling of property. The video mentions that the speaker has negotiated multi-million dollar real estate deals with billionaires, showcasing the high stakes and significant financial decisions involved.

💡Signal App

The Signal App is a private messaging application known for its focus on security and privacy. In the script, it's mentioned as the preferred method of communication for billionaires during sensitive transactions to prevent screenshots or message saving.

💡Wasting Time

Wasting time implies not using time effectively or efficiently. The video contrasts the quick decision-making of billionaires with the perceived wastefulness of time by less wealthy individuals, as illustrated by the dining experience where billionaires order immediately to avoid unnecessary delay.

💡Trust

Trust is the reliance on the integrity, strength, or ability of a person or thing. The script discusses the difficulty billionaires have in trusting new people due to past experiences of being taken advantage of, and the importance of establishing trust through actions like working for free or being part of their outer circle of trust.

💡Possessions vs. Growth

The distinction between possessions and growth refers to the understanding that material wealth is not as important as investments that lead to further wealth creation. The video describes how billionaires can be frugal in some areas but willing to spend large sums in others where it contributes to growth or business opportunities.

💡Leverage

Leverage in this context means using the skills or resources of others to achieve greater results. The speaker advises focusing on one's strengths and leveraging other people for tasks outside of one's area of expertise, as a strategy observed among successful billionaires.

💡Plutocracy

Plutocracy is a form of government where power is held by the wealthy class. The term is used in the script to describe the society of the ultra-wealthy, and the speaker is referred to as 'the broker to the plutocracy' in a New York Magazine profile, indicating their role in facilitating transactions and relationships within this exclusive group.

Highlights

There are 94 billionaires in the speaker's contacts, who serve as mentors and have influenced their understanding of success.

Billionaires prioritize texting over calling to save time, valuing both their own and others' time highly.

Jeff Bezos is mentioned as an example of a billionaire who values time over phone calls due to his high income per second.

Billionaires often use apps like Signal for secure and ephemeral communication during sensitive transactions.

The speaker has negotiated large deals over text, illustrating the efficiency of billionaires' communication methods.

Billionaires are experts at not wasting time, exemplified by quick decision-making in social settings.

The importance of respecting others' time, including waitstaff, is highlighted as a common trait among billionaires.

Billionaires are cautious about trust and are wary of being taken advantage of due to past experiences.

The speaker's strategy of working for free initially to build trust with billionaire clients is shared.

Billionaires quickly end relationships that do not serve them, valuing loyalty but also decisiveness in cutting ties.

Billionaires differentiate between spending on possessions versus growth, investing in areas that yield returns.

Material possessions are often not a priority for billionaires, who can be frugal despite their wealth.

Billionaires invest in assets like yachts and properties that facilitate future business opportunities.

The speaker emphasizes that billionaires focus on their core strengths and delegate other tasks.

Billionaires are regular people with unique problems that require specialized solutions.

The speaker's experience helping billionaires with 'high-quality problems' has granted them access to an exclusive society.

The speaker is referred to as 'the broker to the plutocracy' in a New York Magazine article, indicating their unique position.

The speaker shares insights gained from 15 years of working with the world's wealthiest individuals.

Transcripts

there are currently 2 640 billionaires

in the world that we know of

on this phone are 94 of them I have 94

billionaires in my contacts some of them

are friends a lot of them are clients

and I bring this up because in some way

shape or form they're all my mentors and

I've learned a lot from working with

these people or ways that they interact

with people ways that they communicate

ways they think about life business even

working out and because I've done real

estate deals with many of these

billionaires I've learned certain habits

and mindsets that they have that allow

them to operate on a completely

different level for most people here are

the six things that I learned from

working with 94 different billionaires

first they text more than they call

billionaires know the value of a dollar

and they know the value of their time

more than anyone I've ever worked with

and you might be thinking what that's

weird texting don't they have calls and

lawyers and there's that whole teams I

mean yes they have all of that but when

I'm interacting with them directly

billionaires don't have time for phone

calls Jeff Bezos who's not in my phone

he makes twenty five hundred dollars a

second a phone call that takes away time

from billionaires making money is not a

good use of their time but they can fire

off a text or a voice note that deletes

very very very quickly oftentimes they

use the app signal so that you're not

screenshotting or you know saving

messages and things can disappear really

quickly especially when we're doing real

estate transactions together a lot of it

is very very sensitive information but

I've negotiated 100 million dollar deals

over iMessage and yet the person I work

with who's trying to buy a home for a

million dollars calls me 62 times times

has to meet with me and his family

brings in Bankers brings in an attorneys

brings in everyone less wealthy people

have an idea of what it means to be

wealthy we're actual wealthy people

understand that being wealthy is just

about their greatest asset which is time

I'm in the middle of two negotiations

right now with two of these billionaires

completely overtaxed I'd much rather

meet in person they've got great offices

or talk on the phone or get a meal with

them so I can learn but nope it's all

over text message literally saying hey

do you want to offer 60 or 61 million

they just aren't the 60. I guess that's

an offer because I'm gonna go with the

60 because it's been hearted the big

takeaway if you are trying to find

billionaires to work with try texting

them because they do not waste time not

even yours and they're on their phones

more than most people takeaway number

two they are experts at not wasting time

I went to dinner with my first

billionaire client years and years and

years ago he ordered the minute the

waiter came over to bring us water there

was no sitting there and reviewing the

menu there was no asking for the

specials none of that here's the water

okay I'm gonna have this and this and

what do you want and if you don't tell

me what you want right now I'm going to

order for you we're gonna enjoy the

dinner we're gonna talk we are on a time

schedule and it didn't feel stressful at

all honestly felt relaxing like we

weren't wasting any time I did dinner

with another billionaire and when the

waiter came over right at the beginning

he just held up the menu like this

didn't even look and said surprise us

because when you go to a nice restaurant

you know the food's gonna be good

billionaires act differently and it's

not rude if anything it's super super

nice because they understand the value

of the waiter's time making a decision

about dinner is a small decision but

what I've learned is that billionaires

make big decisions quickly because

that's their job number three

billionaires are always on guard of

being taken advantage of this is also

why it's hard to get in touch with

billionaires it's hard to have them as

clients they really trust no one because

they've been taken advantage of they've

learned from that mistake and new people

entering into their sphere of influence

into their circle of trust puts them on

guard because any new person that is

coming into a Billionaire's life

typically has a reason for being there

one of my tricks in working with

billionaire clients early on in my

career was working for free I offered up

commissions and obviously the

billionaire can afford it but it was the

gesture I'm not going to treat you

differently from anybody else what else

can I do the other thing that I did to

make sure that the billionaires knew

that I wasn't taking advantage of them

ever was to get in with their Outer

Circle of trust whether it's the

landscaper the war of the nanny or the

private Banker or the attorney as

quickly as that trust can be understood

it can be destroyed billionaire also

have no issue in moving on from

relationships that don't serve them in

like a millisecond you have a 10-year

working relationship with someone who's

incredibly successful and Wealthy you

lie to them once make one little mistake

you don't show up on time once you lead

them down the wrong path once that's it

they now lose all confidence and trust

in you and there are other people who do

what you do they have loyalty when the

relationship works on both sides if it

doesn't they move on another thing I've

learned from billionaires is that they

understand the difference between

possessions and growth and they're not

afraid to spend now that might sound

obvious to you but it's interesting to

watch someone who has a net worth of

over one billion dollars be incredibly

cheap over here and then overspend over

here they might kill a deal over five

dollars over here because they

understand that this is not going to do

a whole lot

for their success for their long-term

growth but they'll overspend over here

by millions tens of millions hundreds of

millions of dollars because it's an

investment in Greater growth now a lot

of billionaires have very cool material

Goods huge houses planes automobiles

trips experiences but if you didn't know

what they looked like you typically

wouldn't notice them when you walk down

the streets because they're not super

flashy they don't wear their wealth on

their clothes most of the time most

billionaires are pretty Frugal when it

comes to material possessions the great

example is obviously Warren Buffett same

house same car same breakfast from

McDonald's with change from his cup

holder and then you have others Saudi

royals you have the Jeff bezoses of the

world but then you have others you have

Elon Musk who has no possessions no

houses billionaires will certainly spend

money but they'll spend money if it gets

them return a yacht is a great example a

yacht is incredibly expensive but they

have because it's an investment in

future business they can have other

billionaires on that yacht and that's

where deals get done their houses as

well on the ocean in Malibu and Palm

Beach castles in France they are

investments in doing future business

because they can say to other people

come to my castle let's talk about the

deal and I know that sounds kind of

crazy but if you had a billion dollars

you would also probably have a castle or

a beach house my biggest takeaway is

that they only focus on what they are

absolutely best at at what they are

uniquely qualified to do they don't

worry about any of the minutia any of

the work below the absolute biggest

decisions every day now obviously

they've gotten to that point where they

don't have to do the painting and the

building and the hammering if I want to

emulate the most successful business

leaders and entrepreneurs in the world

today it's that most of my day should be

focused on what I am absolutely best at

focusing on everything else should be

leveraged to other people it's kind of a

mindset shift as well using other people

to leverage your work is a massive

massive

tool and last but not least billionaires

are just like us they're regular people

with regular problems albeit higher

quality problems one of my earliest

experiences with a billionaire client

was going to a private airport to board

their private plane and he was talking

to me about how his plane wasn't

available because of a mechanical issue

and he was frustrated because he had to

get another plane now that sounds like a

crazy problem a one percent or a point

zero zero zero zero zero one percenter

problem right absolutely but he wasn't

crying about it he wasn't crying to me

or anybody else you have a higher

quality life that means you also have

higher quality problems and it was my

job to help with that I immediately from

that situation started helping the

billionaire clients that I had fixed

their higher quality problems and that's

how I started to get to know so many of

them because if someone has a private

jet issue they're not going to talk to

the friends they had in college about it

I'm not going to talk to people in their

office about it because it would be

weird and uncomfortable it's an awkward

display of wealth so they need people to

talk to about it and I wanted to be that

person I'll help you with your private

jet and while we're at it

need a new condo

oftentimes yes they do so billionaires

are just like us kind of sort of they're

still humans still go to the bathroom

they still sleep they still want to be

happy they still cry while watching The

Notebook just like you do and if you can

be someone who can solve the high

quality problem that a billionaire has

that is your ticket into

that Society there was even a New York

Magazine profile article on me they

called me the broker to the plutocracy

and then you have to show the definition

of what plutocracy means because most

people won't know these are just a few

things that I've learned in my 15 years

of selling real estate to some of the

most successful and wealthy people in

the world and I just wanted to share

them because they've been really really

helpful to me in building my career and

hopefully they'll be helpful to you if

you like videos like this make sure to

share make sure to like make sure to

subscribe and then leave notes in the

comments for what you thought and what

else you want me to talk about and now I

have to go back to work

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