Real life examples of young people who built serious wealth on their own, without family money or big startup loans. How did they do it, what industries or skills helped, and roughly how much have they made $1M, $10M, $100M? I want actual stories, not famous names.
How Did the Youngest Self-Made Millionaire You Know Build Their Wealth?
byu/Reasonable-Tour-8246 inEntrepreneur
Posted by Reasonable-Tour-8246
10 Comments
He was buying highly questionable things for a few bucks here and there on the dark web at the advent of bitcoin. Suddenly he went from cyber crim to wealth-mode, and he wasnt the only one. A lot of the first crypto holders were simply using it to buy illicit goods and services when crypto popped off, damned bastards.
He took the million he inherited and transformed it into 1.1 million. Self-made ftw
Bought a specific house with the specific goal of subdividing the land later. Used that $ to buy childcare centres.
Sell before you buy
In the last 10/15 years in Canada, I know a handful of real estate agents that made good money flipping houses. If you had a small amount of capital, a good mortgage guy and knew the market, flips were abundant and very profitable. Even just selling houses here was serious income for very little work until about 18 months ago.
I also know a handful of people that sold SaaS software for good money, upwards of $2m.
Most money made was a person that launched a successful NFT and token ecosystem.
He’s dad was a millionaire but died very early and the lost everything due to nationalization so they pretty much lost everything. They had a few trucks remaining in their possession so they started leasing them out to mines and ended up expanding into heavy equipment mine leasing
Sucking schlong
I know quite a few, but no story is the same. I know many tech employees, which have taken the typical route. More interesting entrepreneurial routes:
The boring: took a loan from his dad to copy his business in the next town over. 30.
The wild: sold SaaS for almost 100m with two co-founders.
The unethical: 50m for gambling business. 35.
The fun: sold media agency for 15m with co-founders whilst truly having fun. 30.
All the self-made young millionaire I know are from Crypto or AI area, by entrepreneurship (including building their own startup, or becoming an influcer, or just good at trading)
Made his first million over ten years of working landscaping and then expanding into building. Bought cheap land in the countryside, set up a country club and now its the only place to golf or swim in a 25 mile radius. Even outside of 25 miles, you have to drive into the nearest town for golf/private swimming and fight horrendous traffic for over an hour most weekday peak times or all weekends.
There’s a 200 car park and its always a struggle to find a place to park, so the place is printing money. He is incredibly hard working though so its hard to begrudge him his success. I usually see him onsite and his kids are always over after school for long hours, cleaning tables, driving golf carts etc. His own company maintains the grounds and he is still using his building company but only taking on larger projects now.