371: Net Worth Of $15M - From Federal Prison to Serial Entrepreneurship

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8 • 872 Ratings

🗓️ 19 August 2024

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Byron has a net worth of around $15 million. He is a fractional CFO and CPA and has his own firm but invests heavily in small and private businesses. He emphasizes the importance of understanding numbers in running a business and the value of tax strategy. He prefers investing in businesses where he can partner with people who have complementary skills. He tells the story of what lead him to federal prison in college and the journey he took to get out and redeem himself. Byron has had both successful and failed investments, but he believes that failures don't define an investor or entrepreneur. He envisions becoming an angel investor and investing in people and ideas that he believes in. Byron shares his favorite brands and experiences, including his love for Bentley Continental and overwater bungalows. He also talks about his first job mowing lawns and a crazy money-making scheme he had in college. Byron reflects on his journey to becoming a millionaire and the lessons he learned along the way. He emphasizes the importance of embracing failure and the value of partnerships. Byron's advice for those starting out is to expect failure and to cultivate strong friendships.

Transcript

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0:00.0	I learned very early in my life that I don't need to own 100% of something.
0:03.6	You know, I would much rather own 1% of a trillion dollar company than 100% of a $100,000 company,
0:11.0	right? Like, the money is really what matters, not the percentage.
0:14.4	The percentage is a brag, the return is really what you should be talking about.
0:17.5	So if I can just own 5% of a company that's doing, you know, a billion dollars, that's a great deal right so I don't it doesn't really
0:24.8	matter what the what the percentage is it just matters what the return is going to be on
0:29.1	that money that's really what I'm looking and I think that there's a lot of people out there in this world that
0:35.2	don't get the support that they need to really like chase their dreams so if I could
0:40.0	give that to somebody and you know and make make that something that they can obtain while also benefiting
0:48.4	myself and the rest of the people that are involved in me and maybe being able to share that
0:53.2	down the line with more companies to invest in, more people to invest in, you know, that
0:57.7	would be ideal for me.
0:59.2	So welcome millionaires and future millionaires. You're listening to the
1:03.4	millionaires unveiled podcast, the show where you'll hear the stories and
1:07.0	interviews of everyday millionaires will unveil their decisions, their
1:10.9	strategies, and their portfolio allocations.
1:13.7	Not to your host, J.S. Mattingen.
1:16.5	Welcome back to another episode of the Mooners-on-Ville
1:21.5	podcast. This is episode of the Maners-on-Velt podcast. This is episode
1:23.1	over 371. This is the podcast where everyday millionaires come dish out the
1:28.0	deeps about their investments, wealth-building secrets, and of course, their
1:31.5	blunders. We are your host
	...

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