How Mike Sonko made his first Million

 

Sonko's first million.

Mike Sonko, whose full name is Mbuvi Gideon Kioko, is a Kenyan politician and businessman who served as the second governor of Nairobi County from 2017 to 2020. He has been involved in various business ventures over the years, and there are different stories about how he made his first million.

One of the most commonly cited stories is that Sonko started his business career by selling second-hand clothes, commonly known as "mitumba," in the streets of Nairobi. He is said to have saved up enough money from this venture to start a small matatu (minibus) transport business.

According to some reports, Sonko was able to expand his matatu business rapidly by using his connections in the political world. He allegedly secured lucrative transport contracts from government agencies and politicians, which helped him to quickly grow his wealth.

In addition to his transport business, Sonko has also been involved in real estate, construction, and other businesses over the years. Some sources suggest that he made his first million through a combination of these ventures, rather than from a single source.

It's worth noting that Sonko's business practices and sources of wealth have been controversial, and he has faced numerous allegations of corruption and unethical behavior throughout his career.

Sonko's business practices have been the subject of controversy and scrutiny, and he has faced numerous allegations of corruption and unethical behavior throughout his career. In 2010, he was arrested and charged with various offenses related to his business dealings, including illegal possession of firearms, tax evasion, and bribery. He was later acquitted of some of the charges, while others were dropped.

Despite the controversies surrounding his business dealings, Sonko has remained a popular figure in Kenyan politics, particularly in Nairobi. He served as the Member of Parliament for Makadara Constituency from 2010 to 2013 before becoming the first Senator for Nairobi County in 2013. In 2017, he was elected as the governor of Nairobi County.

As governor, Sonko continued to be involved in business and was accused of using his political power to benefit his personal interests. In December 2019, he was arrested and charged with various offenses related to corruption and misuse of public funds. He was later impeached by the Nairobi County Assembly and removed from office in December 2020.

In conclusion, while there are different stories about how Mike Sonko made his first million, it is clear that he has been involved in various business ventures over the years. However, his business practices have been controversial, and he has faced numerous allegations of corruption and unethical behavior throughout his career.

It's worth noting that Sonko's controversial business dealings have not only attracted attention in Kenya but also globally. For instance, in 2017, he was listed among the high net worth individuals globally, whose wealth was under investigation for corruption by the United States government. This is an indication that his business dealings have not only affected his reputation locally but also internationally.

Sonko's rise to wealth and fame has been characterized by his charisma and flamboyant lifestyle. He is known for his flashy dressing, expensive jewelry, and lavish parties. However, his flashy lifestyle has not always been well-received, particularly among the ordinary Kenyans who have accused him of flaunting his wealth while the majority of the population live in poverty.

Despite the controversies surrounding his business dealings, Sonko has remained a popular figure among some sections of the Kenyan society, particularly in Nairobi. His supporters have lauded him for his philanthropic activities, including supporting the education of disadvantaged children and the elderly. However, his critics have accused him of using philanthropy as a cover-up for his corrupt activities.

In conclusion, while there are different stories about how Mike Sonko made his first million, it is clear that his business dealings have been the subject of controversy and scrutiny throughout his career. While he has been involved in various business ventures over the years, his business practices have been characterized by allegations of corruption and unethical behavior.

How William Ruto became a Billionaire.

 

President william ruto new salary net

worth and source of wealth.

 William samoe

Ruto is kenya's current

president-elect, he was elected alongside

president Uhuru kenyatta in 2014.

Many admire the politician since he was

able to go from being a hustler to a

millionaire ,he has an estimated net

worth of over 41 billion kenyan

shillings .The deputy president is ranked

among the top 10 richest people in kenya.

According to SRC,Ruto has been earning a

salary of ksh1,469,235. 

Every month as a deputy president minus

all allowances as a president william

Ruto will now take home kshs

1,505,070 every month, excluding allowances,

this translates to an increment of about

ksh 35,000 in his salary.

Apart from his political career ruto

owns multiple businesses all over the

country ,he also owns land and properties

which are all listed below.

1. Weston hotel.

In nairobi which is estimated to be

worth over 2.5 million kenyan shillings

60 hotel in nairobi cbd worth ksh

3 billion.

2. Home in assange.

A 300-acre land-slash home in assange

issue worth 1.2 billion

asang property limited which is worth

ksh1 billion

orterter enterprises limited worth ksh

2.5 billion

osr flats in on gotta wrong i estate in

kg otto county worth 500 million kenyan

shillings,

a ksh 750 million poultry business in

turbo in osingisha county the poultry

farm is said to have 250 000 layers

which earn him almost 1.6 million a day

a 10-acre private home in karana state

the k-24 station which he bought from

the canada family in 2018.

several cars worth millions including a

toyota land cruiser v8 zx which ranges

between 11.3 million minus 15.1 million

four choppers worth ksh 1.2 billion

residents in assange issue estimated at

1.2 billion

hotels in mombasa and mara worth ksh 3

billion,

Amaco insurance ruto is a major

shareholder in the africa merchant

assurance company

residential property along jogu road

worth

ksh.1.5 billion

kwai island development limited

mata farm in taitataveta

the president has also invested in

different businesses outside the country

he exports different farm produce to

other countries including zambia earning

him more than 27 billion per year

real name william samoe Ruto

age 55 years

nationality kenyan

place of birth us in gishu county wife

Rachel ruto

net worth ksh 41 billion.

https://youtu.be/9d2p4hmdQIk

How a Hotel watchman become a millionaire.

 

 In 2006 things were so tough

I started depending on friends, mostly I would wait for drivers who knew me

if by 6 pm I would have not managed to get anything I would go to the stage to beg for just KSh 100 to buy food for the kids

but right now if I meet them I give them KSh 2000 a person would come with so many documents

I would peruse them and wonder does this person know me really because

but I have to vet them, I have graduates in this company

when I tell them the salary is little they ask me so how do you want me to survive?

someone would tell me I am in this town I am struggling and I have no place to live because now they no longer have the pocket money they used to receive from parents

such a person has to get a place to work and the first employment guys think of is in the security companies

my bosses.. how are you?

welcome to the show thank you how is the going? I am fine

isn't it? thank you kindly introduce yourself my name is Duncan popularly known as Kobet Bett, that's a family name

most guys in town call me Dango and even back home

where does that come from? it means Dango Security Services which is my company

I was born in Baringo, in the outskirts of Lake Bogoria

people joke that we feed on stones because they grow really fast and in large quantities like cabbage

when you come there you will surely prove me right

I went to school within the same area but at the lowest level

when others say they have a PhD from school, I have one from life experiences and nothing higher than that

my dad was called Joseph Kobet Bett, he was a teacher

I grew up in a poor background but even so maybe it was because dad was not cooperative

because whenever he earned his salary he would disappear for like 3 weeks

where was he taking all the money? he would spend all of it in town and when he comes back home he is so stressed

if you have been sent away from school because of school fees that was non of his business I am the 6th born even though we lost one of us in 2015 due to a road accident

he is my elder brother and I believe he inspired us to leave home and come to town, he left home in 1996

he was not able to complete his education but he worked so hard and lived a life that no one would imagine of hi background

I believe it's time I talk about our background hoping that no one in the family will be offended

but they all know the kind of life we have gone through

if everything would be smooth all of us would have completed our education but that did not happen

I spent so many years in primary school and while in class 4 I felt I was very old so I transferred to the school my dad was teaching

Mwolos primary school in Maji Moto area, I dropped out in 1994

but before I joined that school I ran away from home because life was so hard

at that time I was just thinking of how to make money, I escaped on foot and went so far away

in which class were you in when you dropped out? I went to look for a place where I could be employed to take care if cattle in Kieyo

I worked there for a while but after some time I decided to go back home

when I got home, I was not now ready for circumcision

after undergoing the rite I did not feel okay staying at home with mum

you decided to go and look for a girl to marry yes, that was in 1998 in 1999 I met a very beautiful lady

she was still young and in school but after dating for a while we were blessed with a baby

in Feb 1999 we used to do maize farming and after a while I bought a pool table and brought it at Mochongoi

it served me for a while but later on things started becoming bad you loved playing pool at that time?

yes I even became a star in that place no one wanted to challenge me

whenever guys wanted to play they would tell me to step aside and give them a chance as customers it was during the dry season, people were cutting trees, there was no rain and so the maize were not doing well in the farm

so life became unbearable the years were moving so fast, so after a while I moved to Marigat

I had saved some money from my maize business but when I relocated the money was so little, I did not manage to do anything with it

I embarked in playing pool, I had sold the table I had bought initially

I kept going out to play pool for sometime but life was getting harder each day

but guys used to think I have money

in 2006 I left Marigat and moved to Nakuru

my brother was a matatu driver, I told him I want to move to Nakuru

he asked me how will you survive there yet we have no relatives living in that town? I told him I have a plan

I looked for a house and managed to get one for KSH 1600 per month, so I requested him to help me transport my stuffs

so my family and I moved t Nakuru when I arrived in Nakuru that is when I realized life was indeed tougher than I thought

back home at least it was easy to get a tin maize, take to the posho mill and you have food but in Nakuru it was just hardship

life was tough especially from 2006 I started depending om friends

I would walk to the stage and wait for those drivers from home who knew me

I used to go to the stage at around 6 pm and would beg for just KSh 100 to buy kids food

most of those people are my friends to date, some of them were employed by the government while some are in the matatu industry

but today if I bump into any of the I give them KSh 2000 a time came when I was just about to be locked out of the house

I would come home in the evening and find the kids crying from outside

I decided to look for a job but I did not have any certificate

but you were a pro in pool I was not so famous in town although the rule was before you are allowed to paly you must first have money

but eventually I made a name for myself and became like a member because I used to frequent that place with the little I had

after I became a member guys discovered that I was good in pool

I used to be allowed in free of charge at times when there are new customers and I would make some money at least once in a while

I decided to look for a security guard job and got one, that is when I opened my eyes

where was that? I just managed to get the job within that area, it was my first and last employment because I was very passionate about it

when you are offered a job you have to be disciplined and that is one thing I always tell my staffs

I keep telling them I don't have to supervise them, just do your job and when your shift ends hand over and go

I keep telling them good service really matters and once a client is impressed no one can touch you

I was so passionate about my first job, I gave it my all

but what really kept me going is what guys called tips, although some people feel it is wrong

I used to work in a club I wasn't asking people for money but clients would just tip me

you know I had stayed there for almost 2 years and we had regular clients who would never miss to say hi

by the way sometimes the most generous people are drunkards

when this person has had enough in the club, he would give me anything that comes out of the pocket, whether KSh 200 or KSh 1000

I used to be very social with guys when a regular client comes in they would ask me would you take some soda and I tell them just give me I will sort myself out here

so that would mean either they buy me soda in reality or give me some money

by morning I would have at least KSh 1000 in my pocket

so I really wasn't depending on my salary, I kept it at least to settle my house rent

the tips were such a huge saviour, so at some point

I started thinking a head and telling myself perhaps my boss is being paid KSh 10,000 but he pays me KSh 5500 a month

so I thought to myself what if I opened my own security company?

that is one thing I keep asking myself just how it crossed my mind

no one is able to tell whether I am educated or not because I am a very social person

so now I got a friend

I started giving him the story of my life, I am not sure if he was excited or what he thought about it

he asked me , are you sure you want to start this thing? I told him yes

he saw you have a vision yes and I told him I want to make my money but I had no idea how

he asked me are you sure you can do that job, I told him yes but what he never inquired is if I went to school

he asked me what will be the name of your company

I got into deep thoughts because I had never owned anything

before we continue was this person well known to you or he was just an ordinary friend?

this was a regular client at the club where I used to work, he loved wine

he used to stay in the club even up to 3 am

whenever he was around he would call me his body guard

he would drink and even sleep so my job was to just ensure he was safe

until when he wakes up and now leave eventually we became very close friends

I told him I wanted to start my own company

I approached the supervisors in the same club and asked them if they will give me a job when I start my own company

at first it seemed so funny since some guys thought I was joking but I told them I was serious I want to start my own company

I told them one day I ensure that company becomes an empire and they accepted

they told me once you are ready just inform us when I told my friend about it he asked me to go and do a research for my company name, I asked guys but non had an idea

so I thought about merging my names and I came up with Dango

and I added 5 at the end

why 5? 5 because of the number of kids I had at that time

Duncan indeed you are a father of many kids

you had 10 at that time? yes 5 boys and 5 girls

the year was in 2012 and the journey was still on

how many do you have now? I have 30 although my target was 20

where will they live? here? the elder ones grow big and leave me with the young ones

so I felt Dango 5 security services Limited fits me perfectly

I did my research and no one had used that name so I gave it to him

he connected me with someone in Nairobi to help me with the registration

it's a Luo lady I can't remember her name I gave her my documents and she prepared a memorandum for me which I took to the registration offices

so after that my friend took over everything and my certificate was now ready

I went for it, when I held the certificate in my hands

I knelt down at Harambee house I told God thank you because you remembered my name and you indeed saw I had the passion for this

I tell you

so I left, sorry for that because when I remember that moment it brings tears to my eyes

so I left and met my first clients, the same ones at my place of work

I told my boss I have a certificate, now give me a job

so you went back to the same place you were working? yes and I asked them to give me a job

he told me they were so happy for me, I was now a director at Dango 5

I was given that title and eventually my first contract

when I was given that job, there was also another colleague of mine whom we would work on shifts

somehow I was stranded because I had no idea on how to go about it I went and told one of my uncles I have this new contract and so I want us to work together, he was a little bi educated

he asked me how and I told him we shall be working on shifts

so you were the director and as well as the security man yes, so my uncle agreed and we started working together, so I told him to take the night shift so that during the day I can walk around looking for new contracts

nd he told me okay so I started looking for clients and I came across my 2nd client who was dealing with scrap metals

I introduced myself and my company he asked me if I lived in Nakuru and I said yes, he did not interrogate me that much

he asked me how much I wanted to be paid and I said KSh 10,000 he told me he had KSh 7500 but after negotiating we settled on KSh 8000

so he asked me about response in case an emergency happens how will I respond

I had actually walked to his office on foot I told him I am just marketing my company but I have cars and motorbikes that I used for patrol

he said okay so in case a problem arises you will respond swiftly and I said yes so he told me it's okay now I want you bring me one security guard on 1st

I told him it's fine I went and told my colleague I will have to bet someone since already I had managed to get one client

I was familiar with most of the guards so I approached on and told him e have a job

he came and started working I continued working as usual at my place of work and after a while I got another contract called Lake Solai Hotel

I took my guy there and then I looked for another person to replace him

after sometime I now had 6 guards and so decided to look for an office

because clients were now asking me where is your office yet at that time I had non

so I went to a pace called Nyamakoroto to look for an office

within Nakuru? yes just at Biashara Street I managed to get an office but on the 5th floor because I was looking for a cheaper office, it was around KSh 4000

so I bought some few plastic chairs and wooden ones and finally I had an office

I labeled on the door Danco 5 Security and shorty after guys came knocking looking for jobs

so I started getting clients some in Pipeline, others in Eveready and it was now a challenge

walking to all those places on foot I decided to strike a deal with another guy who used to transport me, so I aske him if he can hire me his motorbike

he accepted, I asked him the amount he told me KSh 9000 per month meaning it was KSh 300 per day

but the fuel was on me were you still working as a security guard? yes and now I am explaining to you how Dango 5 came about

the man gave me his motorbike at that time I did not have any idea on how to ride a motorbike, I started training myself and I rolled with it severally

I still have the scars so the more I continued moving around the more I got more clients and more jobs

when time for payment came some clients would give me cash others cheques and so I started going to the bank to deposit them

so I approached the bank and asked them if I can help me get a motorbike in installments so that I can be giving them KSh 9000 monthly

I was given a motorbike worth KSh 85,000 which I still have to date

the moment I received that motorbike I started paying for it in installments and also clients were trickling in

I was going round to different places to get clients and in the process I was now experiencing security work

each day I was facing challenges and learning an experience from it Ann, this is my first motorbike when I begun Dango 5

because I did not have any other property this was my first property in Danko 5 until when I started acquiring the rest

I take care of it like my child, each time it breaks down I ensure it is repaired immediately

how long have you had this property?

you have really taken care if it sure for 8 years at times I pack it at home but shortly after I bring it back to warm the office

the rest have gone out there for work, I even own cars but I respect this motorbike

even if I got several injuries, it was worth it, I was looking for wealth and it knows your humble beginnings

sure so I used to see people with branded vehicles and I asked myself when will I ever get to this point

I am one person who is always thinking of how to make money so I went to the bank after a friend of mine told me some vehicles were being given out at a deposit of KSh 270,000

the bank gave me that money, I deposited it and I was given a car

I used to pay KSh 17,000 per month I branded the car and the moment I did that, people recognized the company and I started having more clients

clients started trickling in even more yes Kenyans love something new, they flock in to buy whatever it is offering

I don't know if it's about the price or they just want to change the services

I received so many clients and since then I have never locked back

do you have your employees all over the countries or just within Nakuru?

I have employees in Baringo my home town, Eldoret and Kericho

I haven't dome proper marketing in those areas except for referrals by friends or just clients opening up branches in those areas and asking me to provide security

I have a few in Nairobi but many of them are here in Nakuru the home ground

this is our headquarters but I want to expand my services and have more clients

I know of companies that have more than 8000 guards

I can't compete with them know because most of then started way back ahead of me and had connections perhaps

to make it in security work you need to have good network and friends

and when you apply for tenders your profile speaks for itself

Tell me about your history and this place this were my first clients and each branch they open they ensure they give me more work

I really appreciate this supermarket because they helped me grow

I have more than 20 guards in this supermarket

they have 2 branches in town and this here is the latest one

so I want to ask clients to come and do their shopping at Stage Nat in Pipeline

it's a one stop shop

my bosses how are you? checking on the money in the bank

and they offer you the ability to make more money and put it into use

and now what are the challenges you have faced that someone who is prepared to start this business should be prepared for?

we have so many business opportunities, not just security work

there is no need of staying at home doing northing you have to get exposure in town like me

although I am not sure if you can manage to survive like I did what I came to learn about this job is that Kenya has big challenge

the unemployed people each day so many people come to my office to beg for a job

people come with serious documents I peruse the papers and wonder does this person know me

but because I have to vet them and know about their background because this is a security job

because the first thing is.. and that is a true experience

by the way the guy whom we started this business with is now an officer with the KWS

when he was going for the interview he gave me a call and told me there was a KWS recruitment in Kabarnet

he told me he had no money so I gave him KSh 2000

the first exercise was to compete in running, the man knew what we had gone through in life and he emerged number one

he was employed instantly we have been friends, he is well trained

when I go wrong he would visit me and give us guidance even to my employees

he would tell them how he also begun as a security guard and train them a little bit

even though I have trainers and those doing the vetting

I was talking about the challenges and indeed Kenya is facing a lot of problems, at times we can't even blame the government

we have guys who completed school 10 years ago but they have never been employed, so how do you expect to get a job yet you graduated just yesterday?

we have people like me who have no certificates but they also need to make a living

when I got this experience I decided to be close to such people so that I can encourage them

I have graduates in this company when I tell them the salary is little they ask me so how do you want me to survive?

someone would tell me I am in this town I am struggling and I have no place to live because now they no longer have the pocket money they used to receive from parents and so they have to survive

the first employments guys think of is in the security companies if the government would have known that, actually they would invest in security companies

has security guards all over even if they work for different companies

but we have security guards I want them to try one day and remove all guards in a certain street and see if in the morning the shops would have anything by morning

Kenyan has so many criminals, I was once attacked with a mechette, here is the scar, some thieves had broken in a certain place and the police came late

we arrived first and had to fight the criminals

because it as a our job to take care of property and the police arrived late sometimes the police respond but in other towns they don't

for instance in Nakuru they respond very fast when you give them a call

security companies are the backbone of security in Kenya that's true but there is a notion that security guards are illiterate and don't know what they are doing

we have no clients who don't care about that

all they care about is the safety of their property

others want documents but each package has a different quotation

we have graduates, people with diplomas, Form 4 certificates and those who have non

the biggest problem is

clients are different and place of work vary

we have institutions and in such places you must have learned workers

se have clients who needs a security guard to look after their home perhaps because they keep travelling

such a person doesn't really care who you are will send but as long as there home is secure

clients respect us and I know of some whom when that hear that there is no security, they won't sleep peacefully

if a house is left maybe for 2 days without any security, it's going to be broken into

I have no idea if criminals also do their survey to know if a property has no guards

it is such a huge challenge when it comes to security but we are grateful for clients who appreciate our work

we have clients who take care of our guards like their own children, they give them food and everything, even if our salary is little this guards appreciates

if I want to do a redeployment they refuse because the clients takes good care of them

we also have some clients who have no humanity

you find our guards crying when you ask them what the issue is they tell yiu a clients insulted them

we always tell them the client is always right but later on when we do a follow up it emerges that indeed the client was on the wrong

I have been insulted by clients too, when they are unhappy with a service instead of inviting you to the office to talk they just call to insult me

I have to remain humble because this is business but after a follow up in most cases it's the client who is no the wrong

sometimes some of our guards make mistakes

when they earn money, instead of taking care of their families they sink into alcohol

so they come to work drunk and end up destroying their job and my job

perhaps 1 out of 10 guards would make us lose clients to a competing company because of their unruly behavior

that is the biggest mistake our guards make

we also have people who come with bad intentions and if we follow the law to the latter, no one would do this job

we have guards who leave without notice after earning their salary and they disappear with the uniforms

they use the uniform in another place not really some dispose it, I have no idea what they want to do with the attires

I don't know if they get so scared of saying that they want to resign, no one forced you to come looking for a job

and no one will beat you up for being open if you have gotten greener pastures

some guards work for5 days and say they want to resign, if you tell them to give a notice they rush to the labour offices

and report me yet they have worked for only 5 days, at times guys in those offices are also not keen with the case, they side with the employee

such an employee is someone really who has no passion for that job, if the conditions are not favoring them, it is good to just be open

we have employees who would want to out you in trouble just to go to the court and receive compensation

they lie they were being underpaid

but this person has worked for 2 years in my company where we had an agreement about salary when the joined

and this is a grown up and when they complain, you receive a notice asking you to pay this person KSh 500,000

this is a person who came begging for a job but later on they mess you up

so those are the challenges in the security sector I am not the only one who ha face those challenges but nearly all security companies

each day I receive information and for whatever challenge that has been encountered I try my best to ensure I respond

I had a program that I begun las year, it's called Tango 5 Tournament

it was an initiative that I begun to just show the young boys that when you grow u you have to face challenge's

I started it all alone but over time it has gained some popularity with some politicians chipping in with balls

It rolled out last year an in December I am organizing a tournament

I begun the initiative in Baringo my home but now I want to have another in Nakuru which is my place of work

I also support the needy families

currently I have a report of a family that really needs help

I want to help where I can

it's a family where a mother was sick and got amputated, his husband was their only hope

but last year he lost his sight, so the two of them are in the house

the family is struggling because their kids have no jobs

although they have a son in Nairobi who has been trying to make a living through driving even though he has no employment

so I had to help the family, first of all I bought a wheelchair

because the lady has no wheelchair, she is struggling moving from one place to the other, she crawls even to the toilet

so I decided to just go and check on this family

and finally how can guys reach you?

my office is near Athletics, Nakuru

I have a compound and an office written on Dango 5

you can also find me on Facebook

or you can reach me on phone

or

for welcoming us thank you

so that people don't despise humble beginnings.

THE TRUTH WHY I LOVE MONEY

 What's up guys josh ulford back with

another video today and i want to tell

you guys why

i love money. Time to think like an

investor.

Welcome back to the channel my name is

josh and if you're new here

what i do for a living is i'm in a

business called wealth management

and there's so many different terms that

get thrown around it's like there's

money and there's currency and there's

dollars and there's wealth and there's

assets and

there's bitcoin gurus it's like how do

we take advan how do we really keep our

eyes and our ears on all of these

different things at once what do all

these things

even just mean but there are some

important distinctions

and that's kind of what i want to talk

about today is there's a big difference

between

you know this whole idea of money and

money is the root of all evil

and and wealth is this terrible thing

and hey i get it

trust me but there's a big difference

between

let's say unfettered ambition at all

costs no matter the destruction

you know you could think of like what

you think of when you think of like

donald trump

or dan bilzerian with a boat and a yacht

like a multi-million dollar yacht with

you know women in bikinis and champagne

everywhere in cigars and

donald trump having all this political

power because he's wealthy

whatever it might be that's kind of this

whole idea of like

unfettered ambition at all costs

and i don't run a company called haven

unfettered ambition at all costs

management that's not

the business i'm in i'm in the business

of

seeing wealth as how can we improve the

quality of our life how can we take the

resources the job or the assets that we

have

and make the quality of our life a

little bit better or maybe a lot better

so today i want to talk about the two

major reasons why i love

wealth and i think that there's two

things that i can really do it's what it

can do for

other people of the people around us and

it's what it can do for our own lives

and ourselves so if we're looking at

just a life let's say we're a living

person what are the things that

make life really great or what are the

things that we want to get out of our

life i mean for me it's like i'd love to

have a long life

i prefer that it's longer than shorter

typically and i prefer that i'm healthy

right and i want to be able to do those

things that i want to do and have some

freedom and

maybe get a great education and be able

to afford those things that are

meaningful and exciting to me

now i want to go into a little bit of

data here something that's interesting

and it's the fact that if we were to

think about what would be a good

life for me the first thing i said was

well hopefully you know we have a long

life one that isn't cut super short or

it's probably better for us if you think

about it

it's better for me to have a life that

goes to 70 or 80 versus one that goes to

like 30 or 35.

well here's an interesting thing i want

to look at gdp per capita and what that

really means is

how much economic output how much

productivity how much stuff is being

exchanged and traded and produced

how much value is being produced in a

country per person that's really what

gdp per capita means

and what we find are some crazy

correlations

across the world for how gdp can improve

our life and how gdp per capita actually

makes living standards better for a lot

of people

first thing i want to look at what was

what did i say i said life expectancy

how long is this life well

this is crazy if we look at this chart

here life expectancy versus gdp per

capita

we find this beautiful upward sloping

trend as countries get more and more and

more wealthy in terms of gdp per capita

production per person we see that their

life expectancy goes up and up and up

so on the worst possible end of the

spectrum you have a country like the

central african republic or sierra leone

these places have less than a thousand

dollars in gdp per capita that's not a

lot of production per person

and their life expectancy is just over

50 years the average person in this

country lives to 50 years

where we see this trend start to rise is

when we have

increases in gdp per capita more wealth

more production per person

we find ourselves with a country like

switzerland which has

a little over 50 000 in gdp per capita

and the average life expectancy is over

80.

so it's crazy to think about how wealth

how the production of

value or productivity in a country or an

economy can make

the lives of those people so much better

now i know what you're thinking you're

probably thinking hey josh it's not just

about

longer life i mean maybe people are

struggling maybe it's a longer life but

it's got more suffering and more

illness and more pain and all that okay

okay well

let's look at another one what about

self-reported

life satisfaction okay a survey of all

these people and they rate their life

let's say you and i get a survey

and we have to rate how happy we are

about our life

now if we compare the results of how

happy people are about their life

to the country's per capita gdp we see

something that is

exactly the same if not more

there's more correlation if anything and

the same thing we see that countries

with

very low gdp per capita also report

very low scores on overall life

satisfaction and this

increases as gdp per capita goes up it's

it's a beautiful correlation you can see

all the different countries on here and

you can see how again united states and

canada no big deal norway all these

different countries

are very high in gdp per capita and are

also very high in life satisfaction

and lastly one of the most stunning

findings is the correlation between gdp

per capita

wealth let's say per person in your

economy and the human development index

which takes all these things into

account do people have access to good

health care

good access to education do people have

access to long living standards

long lifes and high standards of living

and if we look at the correlation

there's something even more interesting

here which is the fact that it compounds

you see this almost

exponential correlation where the more

gdp per capita you get

the more the better and better and

better things get for the human

development of your country

so it's really fascinating to see and

when i say you know what i love money

and i love

wealth this isn't about i love yachts

and private jets i mean i do love

lamborghinis i'm gonna be completely

honest i do love those i think they're

very cool

but i'm not talking about this this

status seeking high

lifestyle where you're just doing

nothing but partying and having fun all

the time i'm talking about increasing

living standards for

for people in your country now i know

what you might be thinking okay there's

all this great news

fantastic that that's great you know gdp

wealth makes people happier and all this

sort of thing

but what about the 1 all the richest of

the people have all the money you need

to give some

money to the other people the people who

are struggling yes

absolutely absolutely inequality

is a massive problem and countries that

become

very unequal actually become very

unstable so it's important to think

about that too

but here is something really fascinating

about gdp per capita and the wealth that

you have per person if we look at the

bottom quintile in any economy the

quintiles like the bottom fifth the

people who you would say are

struggling and it's the people who you

know just got a bad

deal in life and they're having trouble

getting on their feet financially or

economically speaking

we find this insanely positive

correlation between growth in gdp per

capita growth and wealth of a country as

a whole

and accelerated growth of the bottom

quintile and what this means is

the data doesn't confirm that as

countries get wealthier it leaves people

in

in the dust it actually confirms that

all people kind of rise together

although some at varying rates of growth

so when i talk about loving wealth this

is what i mean of what it can do

for other people it can actually lift

countries out of poverty it can make

people's lives a lot better

of course the problem is that on country

on their way to industrializing let's

say a country like

india or china they tend to wreak a

little bit of havoc on the environment

they tend to be very unequal as they're

coming out of poverty but once they get

there

life in capitalist western societies

actually becomes very very good

so that is what wealth can do for other

people obviously but what can it do for

us and i mean my experience confirms

this for me

it's this idea that as i got wealthier

let's say as i had business ventures

that actually started to work out after

having a ton that really didn't

have after having investments that went

nowhere and then over time having

investments that started to go my way

what i found as i started to achieve

some semblance of financial independence

where my assets started paying me

instead of me having to go work for them

all the times i realized

that wasn't everything there was it was

like i got over this hill

of the whole financial struggle of you

know trying to make ends meet and

going into jobs i didn't really love and

always having to move money around to

just kind of make things

work having investments that didn't go

my way and all this sort of stuff

once things started to work out i

realized yeah

that takes care of the resources and the

money and the debt's gone and all this

sort of stuff but

there's so much more development i have

to do as a person because i've realized

now wow okay

having the money i need doesn't

necessarily bring me to this finish line

this place in life where i feel like

i've achieved the goal

i feel like there's so much more that i

have to do there's so much more that i

could be in my relationships there's so

much more i could be in in my own mind

there's so much more i could be as an

athlete and all these different things

so much more i could be physically and i

think for most people we go through

life and i certainly felt this way i

went through life always thinking the

money thing was the big thing

and for me personally i found that i was

just so distracted like there's so many

areas of life that we need to improve at

but the money one is just the most

pressing because if you don't pay it the

debt collectors come and if you can't

make ends meet there's no roof over your

head so

it's the kind of the front and center of

everyone's mind it's trying to get that

right

but once you have the magical experience

of kind of getting over that where the

finances are taken care of

you realize there's so much more to do

it's almost like this hill you get over

and then you see for myself i saw oh my

goodness there's

all these other areas that i'm just not

what i could be

and getting over it's like money is like

these blinders and it's all you can

think about

until it's not a problem and then you

see how much more there really is to get

into so

in my view for me self-development at

all like so much of it really came

after achieving the financial freedom

little bit and now there's just this

whole new world that i have to uncover

but anyways guys

that's my view on wealth that's my view

on why i love money i think it can

really help bring people out of poverty

and create better standards of living

for people

and for ourselves it can help us kind of

self-actualize and become the best

version of what we can be

but anyways if you guys got any value

out of this video whatsoever i

appreciate you spending your time with

me today when there's so many of the

things you could be watching

i know i scroll youtube way too much but

anyways make sure to hit that subscribe

button if you like this video hit that

like button and turn on post

notifications for more videos just like

this one

every single week until next time

you.

The Untold Truth About Money: How to Build Wealth From Nothing.

 Let this circle represent $1,000,000.

1. This is what ten million dollars would look like,

This is what one hundred million dollars would look like and this is what 1 billion dollars would look like,

Jeff Bezos the founder of Amazon has a net worth of

117 times this number and then there’s you,

You’re probably working a job right now one that you got from the degree that you studied for in university.

You probably don’t have much in savings your living expenses seem

Ridiculously high you feel as though you’re not paid enough,

You have credit card debt that needs taking care of maybe your student.

Studying for a degree that you ho can and your job that you hope can bring some good money

You probably don’t have any savings only a pesky student debt hanging above your hestuded wealth.

Getting rich

That all seems like a distant dream. How did they do it you ask yourself seeing all those millionaires billionaires

Especially the ones who got there at such a young age

It baffles you it makes you angry they got lucky they were born into well.

They cheated their way to that money doesn’t make them honey as evil and you’re not smart

And I’m just unlucky those dreams you had of buying that mansion your favorite sports car paying off your mortgage traveling around the world.

They’ll forever remain that way just dreams

Nothing more nothing less. You come to the harsh realization. It’s a rigged game

It’s been a rigged game from the start in you.

You’re on the losing side of it

But what if I told you you were wrong

What if there was a way of getting there an actual equation to wealth a science behind the way money works

What if you didn’t have to abandon those dreams of paying off your parent’s mortgage or traveling around the world?

Would you call me a liar for saying so I promise that I’m not and by the end of this video?.

You’ll understand there’s a side to the coin that you’re not being shown but I warn you the road is tough

It’s filled with struggle. It’s filled with ups and downs

It will need swallowing some difficult roofs of the school system and society.

Haven’t told you yet and let me be clear

There are many of you who will not make it to the end of this road

But for those of you that do at the end of this road lies wealth beyond what you thought you could attain at the end

Of that road lies the freedom of never having to worry about money again.

So

Are you with me?

Still with me then let’s not waste any more time

What do you really think about money is this something you work for is it earned or is it inherited?

Is it the root cause of all evil?

Are you desperate to have more of it? Have you been chasing it?

Most of your life.

Truth is most of what you think about money has been influenced by your upbringing and

Environment if you were born into a family that didn’t have much money growing up then you’re more inclined to believe that YouTube will not.

Grow up to have much money

Or perhaps you went on the complete opposite end and decided to make as much money as you can so that you will never be

In that position again the fact that your school didn’t teach you much about this subject

Doesn’t help things and because of this most of you are going to have false beliefs about money that aren’t going to help you on

This journey now stick with me here because we’re gonna have to change the way you’ve been seeing money your whole life

Hollywood has always had a habit of depicting the wealthy and rich as evil backstabbing entitled or corrupt individuals

Question is have you bought into that stereotype a

Recent report released by Wealth X showed that of the world’s ultra wealthy those that had a net worth of 30 million or more

68 percent of them were self-made and it seems like every other study backs up this conclusion Warren Buffett

Self-made billionaire Howard Schultz born in poverty Oprah Winfrey born in poverty

Jeff Bezos self-made billionaire Elon Musk self-made billionaire Sara Blakely self-made billionaire

What is it that these people know that you’d on truth is your equation is all wrong

Here’s the

2-dimensional equation that you’ve been taught money equals salary earned from a job past a certain point the prospect of getting a job

Becomes the sole purpose of your education. So what’s wrong with that you ask?

I’m gonna assume that if you’re watching this you want to make money a lot of it and in a short amount of time as

Possible if that is your goal. Then this equation for generating money will never get you there

We all have a precious resource the most important resource for Hall

And once it’s gone

There’s no way of getting it back that resource is

Time in a standard job the amount of money you burn is

Dependent on the amount of time you put into that job if you earned

$20 an hour and worked 40 hours a week

It would take you nearly 24 years to reach a total of 1 million dollars

But that is without

Subtracting any taxes or any expenses that you will incur over 24 years and let’s not forget that

Inflation would make your 1 million dollars less valuable the reality. Is that on a salary of $20 an hour?

You can only really be a millionaire at an old age by living frugally and most of that precious

Resource known as time has slipped through your fingers. You traded all that time for money and it wasn’t even a substantial amount either

So again you ask yourself. How is it then that there are self-made millionaires and billionaires that such young ages

What makes them so different and the truth is

They have a better equation than you they have a way of understanding money that you haven’t quite grasped the earth

Pay very close attention now stop chasing money in a capitalist society

The rules of the game are as follows

You are paid in proportion to the perceived value that you have and the people that perceive your value

They are the market the

Consumers of the economy the market is you your friends your family your neighbors

Your country people complain that football players are overpaid, but for players to be paid millions

There has to be a market for the football industry in the first place

People have to see the value in football in the first place for them to want to spend money on

Matches and merchandise and if the market is a high demand for football

Guess what happens to the players who are at the top of their game? They are paid generously for it

It’s not about how hard you work the cleaner that sweating and tiring himself out every day is paid far less than the accountant

Sitting behind a desk

Why?

Because the market perceives the value of what the cleaner does to be far less than the accountant as harsh as it may sound the

Cleaner can be replaced by anybody. It isn’t difficult to learn how to do his job

And therefore the market will not pay him more than the accountant the guy who spent years studying numbers

The guy who has saved his clients thousands on their taxes

But even so we just discussed how getting a job is in the right equation to amassing a great amount of wealth in a shorter

Period of time so then how can we increase or perceived value?

What is it about people like Elon Musk or Jeff Bezos?

That makes their perceived value so high the first step to this equation of wealth is quite simple if you want money solve

Problems

If you take a second to digest this statement you

Realize that just about all money runs from this basic premise if it solves a problem

Money will be thrown at it

If it’s a million-dollar problem, then the solution will make you Millions

If it’s a billion dollar problem

Then the solution will make you billions think about all the problems that our site like Amazon

Solves the hassle of going to a store that hassle of having to wait weeks for a delivery cheaper prices and so on not to

Mention all the other companies that Amazon bones and the problems that those companies solve

Jeff Bezos helped solve a billion-dollar problem and also awarded favorably for doing so

If you’ve been chasing money, then you’ve been doing it all wrong

It sounds almost paradoxical but if you want money

It isn’t money that you should be looking for you should be looking for problems and more importantly

Solutions to those problems and once you found that solution make a business around it

Wait, so that’s it

Just solve problems and money will appear so I’m gonna have to create the next Amazon for me to be rich or the next Facebook

Or Google you’ve got to be kidding me, right? I don’t even know how to code

I don’t even have the money to start something of that scale

I don’t even hold on your wants more going into old patterns of thinking start with a problem always start with a problem

Listen to the market around you

What are people saying they don’t like?

What are people saying they wish existed?

What are people saying frustrates them? What do people think is incredibly inconvenient?

Is that a problem that you can solve and also is a problem that is worth solving

The final step of this equation to wealth is finding a scalable solution to the problem your solution needs to affect a

Magnitude of people starring a restaurant that’s not scalable

You’re constrained to the local area and the footfall of that area but a franchise now, that’s more scalable

Is your solution a piece of software then that means once that software has been built you can scale it

Infinitely online without needing to worry about things like production or shipping costs as it’s all done virtually

Good luck finding infinite scale with a job, but be careful does your solution require your time to generate money

Let’s say you were a yoga teacher that charged $100 per hour

Congratulations, you only made yourself another job disguised as a business

There’s only a certain amount of lessons that you can feasibly do in one day

And therefore your income is time-bound, but if you created an online yoga class that ran

24/7 with lessons you only had to create once now that is scaleable scaling your solution is critical here

So do not get lost on this point automation also plays an important role

Systems and processes will keep your business running like a smooth machine if

Implemented properly if there is something in your business that you can outsource to somebody else or hire an employee to do it for you

Assuming it financially makes sense for you to do

So then do it tasking yourself with everything is a bad thing as much as you may think you’re the best

There’s someone out there that can do a better job than you once you’ve found a solution

It’s your job to make sure that solution can be accessed by everyone in your market

It’s not about your ego and it’s not about what you’re passionate about. The market doesn’t care about your passions

So now that you have your profitable business running with the right systems and processes in place

It’s time to move on and reap what you sow

There are two likely paths you’re going to face at this point you either

Continue your business or cash in and seller

This is the acquisition the moment someone buys the solution that you spent years building a business around

This is Instagram being acquired by Facebook for 1 billion. This is PayPal being sold to eBay for 1.5 billion of which

165 million went straight to Elon Musk’s pocket and the countless other liquidation events that happen across the world

This is where all the effort that you spend into building. Your company comes to fruition

And if you choose to continue running your business, well, there’s a multitude of reasons for you wanting to do

So maybe you love the company that you built will want to stick with your baby

Maybe you think you can add more value to the company and sell it down the line for more than it’s currently worth

Perhaps that business runs passively in the background so you don’t have to do much to keep the wheels turning

Or maybe it’s a combination of these three things. Either way you did it

You solved a problem that the market wanted solving and it were awarded you favorably for doing so and so now I ask you what?

Was it all for anyway?

For most of you it was never about the money

Money is just a piece of paper a number on a screen

Its value is only backed up by our belief in its value

From the very start this was never about the money

Paying off the mortgage buying your dream car traveling around the world never having to worry about your financial situation

It’s the freedom that you were looking for. Your destination wasn’t anything monetary related

It was a feeling a sensation

The ability to do what you want whenever you wanted without ever having to cast the thought towards can I afford this have I used?

Up all my holidays for the year. How am I going to pay the rent? Will I be able to live off my pension?

What dreams will I have to sacrifice?

Because I can’t afford to pursue them the most important lesson from this video was never about the nature of money

It was about the one valuable resource that we all have the one resource

We will never be able to reclaim time

Is giving up a large chunk of your time towards a job that you probably don’t like worth it

Is your life settled on working coming home watching the telly?

Sleeping waking up the next day and repeating the same cycle till you retire

How many more hours of your life do you let slip through because of this pattern?

Or perhaps you’re fine with that reality

Perhaps you have no other choice but to follow that path for the time being and if that’s the case

There’s nothing to worry about the most you got from this video was a little entertainment and maybe a change in perspective

But there are those of you that understand the other side those of you that have the desire to

Never need to worry about money ever again. And so I feel the need to remind you

Stop chasing money chase problems and find the solution to those problems

This is the equation through which all money is found if you desire Liberty through never needing to worry about money ever again

Then let’s solving problems be the meaningful struggle in your life

Does it mean you’ll be happy at the end of the road doesn’t mean you’ll feel fulfilled only you can answer that question

But if your struggle is meaningful then perhaps it’s worth pursuing

And there is your equation to wealth

Of course I missed out on a lot of intricacies in this video the topics of business money

Entrepreneurship are far too vast for me to cover in a single video like this

But if you do want to get started on this journey

I do recommend you read the works of MJ DeMarco who heavily inspired me to create this video and it’s also important to come back

To an original point that I made at the start of this which is that most people will not succeed for various reasons

But the most important part is failing

Failing fast and moving on to the next thing and if you’re out there doing something that isn’t strictly related to a business

But you want it to make money then asking yourself the question of what problems am I solving?

Could lead you to find ways of better

Monetizing whatever it is that you’re doing and that also includes a job and a career if you can solve more problems and find more

Solutions at your place of employment you have something that you can use to leverage a higher salary

But I will end this all on the same message that I have repeated numerous times in this video

Stop chasing money and start chasing solutions to problems

Hey, you’ve arrived at the end of the video and thank you so much for watching, but don’t click off just yet

I do want to take the time to say thank you very much for watching to the end these things

Take quite a few sleepless nights to research script film and edit

So you can’t imagine how much I really do appreciate your support

If you genuinely

Enjoyed this video then don’t be shy hit the like button and if you disliked it hit the dislike Vaughn twice just to be sure

And comment down below and let me know why my goal with this channel has been to create entertaining documentary style videos on business

Finance and life in general

And if that sounds like something you’d be interested in and you’d want to tune in for more hit the subscribe on and hit that

Notification belt make sure all your notifications are turned on both

All of that being said, I hope you have a wonderful rest of the day as per usual. My friends hand ahead salute

You