Turning $6,000 into a Multi-Billion Dollar Empire (And Almost Losing It All)

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Entrepreneurship, Business, Careers

4.6 • 1.9K Ratings

🗓️ 29 November 2024

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today’s episode, I sit down with Tilman Fertitta, the owner of the Houston Rockets, Golden Nugget Casinos, and Landry’s. Tilman shares how his businesses—spanning restaurants, hospitality, and professional sports—were uniquely challenged during the pandemic and the tough decisions he made to navigate those uncertain times. He reflects on the importance of resilience, making calculated decisions, and maintaining a strong mindset when everything seems to be falling apart. We discuss his hands-on approach, how he prioritizes leadership and culture, and the lessons he's learned from decades of deal-making. Tilman’s humility, work ethic, and focus on empowering others offer insights for anyone seeking to succeed under pressure.

Transcript

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0:00.0	Welcome back to office hours.
0:02.1	I'm David Meltzer, and it's time for everyone to shut up and listen.
0:07.5	I'm serious.
0:08.2	Shut up and listen, because we have Tillman Furtita here.
0:10.3	He wrote the book on Shut Up and Listen.
0:12.5	He's the chairman and CEO of Landry's.
0:14.9	My favorite restaurant's Mastro's.
0:16.7	I'm still waiting for my Mastro's VIP card, the Golden Nugget Hotel and Casinos.
0:21.2	And of course, my favorite, the owner of the Houston Rockets.
0:25.6	Tillman, welcome to office hours.
0:27.5	Hey, great to be here, David.
0:29.5	Well, you're an incredible entrepreneur, like the rest of my friends here.
0:32.9	I think you started with $6,000 in credit and built an empire.
0:37.0	But when COVID hit, I have to tell you,
0:38.9	I'm sitting there thinking about my friends, the great entrepreneurs like yourself. And out of all
0:44.1	the billionaires, millionaires, entrepreneurs that I knew, you were the one that I said, oh my gosh,
0:49.6	could he have picked three companies and careers and industries that got hit harder from being a restaurant
0:57.0	tier, a hotel year, and a professional NBA, like all three, like at least most of the billionaires
1:04.5	I know have something going on that didn't get crushed? How are you feeling when I could tell you
1:09.2	I had nothing going on.
1:25.7	But, you know, look, you've been from the bottom up and, you know, when things get tough, the tough get going, I would love to you for you to share that mindset when everything hit the fan because, I mean, that is a lot to take on.
1:31.5	Well, I mean, I will tell you this, for a couple of weeks, it was really scary.
	...

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