I Met 94 Billionaires … Here’s 6 Things I Learned
Summary
TLDRThe 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
📱 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.
🕰 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.
💰 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.'
Mindmap
Keywords
💡Billionaires
💡Texting
💡Value of Time
💡Mentors
💡Real Estate Deals
💡Signal App
💡Wasting Time
💡Trust
💡Possessions vs. Growth
💡Leverage
💡Plutocracy
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
foreign
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