How Much Money You Need To Fly Business Class & Private Jets?

Summary

In this insightful conversation, the speaker, a successful entrepreneur, reflects on his financial journey from a modest beginning to a substantial net worth. He discusses lifestyle changes post-exit, the importance of asset allocation with a focus on real estate and public markets, and the wisdom of investing in startups. The speaker candidly shares his struggles, the value of seeking advice from those slightly ahead, and the concept of 'Unicorn A,' a platform connecting professionals for access to their expertise. His story is a blend of financial acumen, personal growth, and the realities of entrepreneurship.

Takeaways

• 💼 The speaker emphasizes the importance of matching one's core skill set with their business or career path for success.
• 🏡 The speaker has a strategy for real estate investment, focusing on buying plots of land quickly when opportunities arise, which has tripled in value in the last three years.
• 💰 The speaker admits to being good at making money but delegates wealth management to his father, who handles asset allocation including real estate, public markets, and private equity.
• 🚀 The speaker advises on the 'Boss' model for building a business with scalability and sellability in mind, and the importance of having the right people with 'skin in the game'.
• 🔮 The speaker stresses the value of seeking advice from those who are a few steps ahead rather than much further along, as they can provide more relevant and attainable guidance.
• 🛫 The speaker discusses the lifestyle changes that come with increasing wealth, such as the ability to afford business class travel and the opportunities it presents for learning from others.
• 📈 The speaker highlights that real estate investments have provided significant returns, with plots purchased for 13-15 crores now worth around 40 crores each.
• 💡 The speaker shares personal anecdotes of struggle and the importance of visualizing future success to stay motivated during tough times.
• 🚀 The speaker has invested in startups, with one significant investment growing 3-4x in 15 months, demonstrating the potential of angel investing.
• 🤝 The speaker is launching a venture studio to support young founders in their early stages, leveraging his own experiences and learnings.
• 🏁 The speaker suggests setting ambitious wealth goals, aiming to reach 10 crores within 5 years, not 20, to foster impatience in achieving success.

Q & A

What is the approximate amount the interviewee has in their bank account after their venture exit?

The interviewee has about 200 crores in their bank account after their venture exit.

How much tax has the interviewee paid in total throughout their journey?

The interviewee estimates they have paid close to 45 to 50 crores in income tax.

What lifestyle changes did the interviewee notice when crossing financial milestones like 10 crores and 100 crores?

The interviewee learned from a mentor that the lifestyle remains the same from 25 crores to 100 crores and from 100 crores to 500 crores, with the main change being the liberty to fly business class after crossing 100 crores.

What is the cost of flying a private jet for a Delhi to Mumbai trip according to the interviewee?

The cost of flying a private jet for a Delhi to Mumbai trip is about 5.5 to 6 lakhs rupees minimum one way for about four to five people.

How does the interviewee manage their wealth?

The interviewee's father manages all their wealth, and the interviewee takes a pocket money from him on a monthly basis.

What is the interviewee's asset allocation strategy?

About 50 to 60% of the interviewee's wealth is in real estate, 20-25% is in public markets like the stock market, and the rest is in angel investing in different companies and private equity.

What returns has the interviewee seen from their real estate investments?

The interviewee's real estate investments have tripled in the last three years, providing a 300% return.

What is the interviewee's advice for someone looking to reach a net worth of 10 crores in the next 20 years?

The interviewee suggests aiming to reach 10 crores in 5 years instead of 20, being impatient in achieving goals but doing things patiently, and matching one's core skill set with the type of work or business they pursue.

How many startups has the interviewee invested in, and what sort of returns have they seen?

The interviewee has invested in about five to six startups, with one significant investment in a company called Univest, which has grown 3 to 4 times in the last 15 months.

What is the concept behind the interviewee's venture 'unicorn.a'?

Unicorn.a is a platform that connects professionals and解决了 the problem of access, allowing users to pay for the time of successful individuals based on their set rates.

What personal struggle did the interviewee share from their early entrepreneurial days?

The interviewee shared an incident where they were so frustrated with their business that they cried on a bench outside the Amazon office in Bangalore.