Want to be a billionaire? You don't have to invent the next Facebook or Bitcoin.
Here are 5 normal guys who all became billionaires through boring business M&A:
Arte Moreno - Worked in billboards at Ganett when he saw an upstart billboard company in AZ called Outdoor Systems. He bought it - then built it up and sold it for $8.7B
-Signs on highways (boring)
-Went on to own the Los Angeles Angels & be worth $3.4B (sexy)
Joseph Grendys - Worked in chicken processing, gross.
Bought out the company he worked at, and kept buying companies; now Koch Foods does $3 Billion a year.
-Poultry processor that slaughters, ships and sells chicken (boring & kinda yucky)
-Now he’s worth $2.3 Billion (sexy)
Sheldon Lavin - Worked in meat processing and then bought out the company he worked for. He kept on buying smaller co’s to hit $6B in annual revenue
-Processing cattle (boring & bloody?)
-Now he processes for Impossible Burgers too (sexy)
James Neal Blue - He and his brother did RE, sold land, built up flour & sugar companies, a pizza joint roll-up and then bought out defense companies..
Wayne Huizanga - Waste Mangement $57B market cap, through buying trash trucks first, then trash companies...
-Smelly trash (boring
-Went on to own the Miami Dolphins, FL Panthers & Marlins (sexy)
Here's what I learned from these 5:
- You don’t have to have money to do M&A.
- You don’t have to be self-employed to become a billionaire.
- Go work for companies where maybe you can buy it out or take over a part of it.
- Learn an industry, then buy within that industry.
Lesson: You want to become a billionaire?
First, do boring things, then you can do 10x the sexy things.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
11 ways I still live cheaply so $ is never a worry...
Airbnb Even When You Don't Need To:
- for as long as I can remember, I've rented out my house (for at least some portion) on Airbnb
- now I do it for all my properties
Yes even my main house. (weird to say "main house" outload - rich ppl sh*t).
Always Ask for Discount:
I used to think it was cheap to ask for discounts almost constantly. I thought it made me look poor. Then I traveled with my partner at my PE fund and he did it nonstop.
His reason - "No one does it, so more often than not, you'll get one."