Wildly wealthy Dallas residents lift the lid on how they REALLY earned their fortunes – as they share tips for others who want to rake in money… and reveal why going BROKE can actually help you get rich

Members of Dallas’ elite who spent a day in the city’s luxury shopping district talked about their wealth – and how they made their fortunes.

A reporter from the YouTube channel School of Hard Knocks went to the Highland Park neighborhood of Dallas, where he interviewed multi-millionaires about how they grew their net worth – adding that the Texas community is one of the wealthiest in the United States.

The first man to approach the host was a 70-year-old driving his Lamborghini to a parking lot.

He had been an ‘entrepreneur’ in supply chain management for forty years, he explained to viewers.

“What’s the biggest lesson you’ve learned about entrepreneurship that you would pass on to someone about to start their first business?” the host asked.

“Tell the truth,” the man replied, adding, “You don’t keep your word in business, you have no business.”

As the host urged him to gain more insight, the man replied, “I’ll tell you two things. The first thing is that you need to be an expert about what you are talking about. Don’t be a fool who listens to the internet.

“Do your research, do your homework and know more than anyone else.

‘And with very little money you can build an incredible career. Because I did it twice,” he added.

He then further admitted that he had been broke twice in his life.

‘How did you escape poverty and break that cycle?’ the host asked.

He replied: ‘Be stronger than poverty. And being hungry.’

The host then approached a second man who was leaving his G-Wagen – the Mercedes-Benz all-wheel drive car model that starts at $143,000.

The man said he worked in private equity and offered, “Nothing comes easy, nothing comes overnight and be patient.

“I think the problem today is that when I see young guys getting into finance, everyone expects them to have something overnight, right? And it doesn’t happen that way.’

The interviewer then asked the man what differentiates the “middle class” from “someone who builds long-term wealth.”

“I think people buy things they can’t afford,” the man said. ‘For example, let me look at Instagram. I mean, it’s good for the platform that you guys are doing.

“But I think in today’s world, everyone sees things that they don’t necessarily know the truth of everyone’s situation.

“And they expect that whatever they see is how they should live. You have to live your own life.’

The private equity firm added that he himself has moved away from social media.

‘I think everyone these days is looking for a way to get rich quick. You know? Just go to school, learn from someone.

“It’s all connected, right? Go learn from someone who has done it, but understand that as you learn, you are not going to create what that person has. And then take note and do it.

The third person the host caught on the street built his fortune in restaurants, as the owner of a chain of taco joints.

“Just tacos, tacos are really big,” he said. “We don’t even have big restaurants.”

The man further admitted that he had previously been broke and “just slept in parking lots.”

He reflected on turning his fortunes around: “I think when you’re broke you start to think differently. Because what are you going to lose? Like me, I wouldn’t lose anything if I tried anything. You know what I mean? I was already in the ground, so what else? Whatever you do, you just keep moving forward.”

The fourth person the host stopped for an interview turned out to be football player Von Miller of the Buffalo Bills.

“All I’ve ever wanted to do in my entire life is be a pro athlete,” he said.

He further specified that the “most” he has ever made in one year was $38 million.

When asked what the best financial advice he’s received is, Von said, “Save bread…I’m a big believer in just saving bread until the timing is right. The trick is to make it sustainable over a long period of time.

“Mike Tyson has made $400 million. You hear these horror stories all the time,” Von continued about the financial realities of pro athletes, many of whom will see their highest earnings coming in very early in their careers.

To reach the NFL, Von speculated that he “always possessed the ability to evolve.” It was always people who were better than me, it was always people who were stronger and faster.

“I was just resilient. And I think to this day I still have that quality, just resilience. I think this carries me in my professional career, but also in my personal life.’

The fifth and final person mentioned was a 63-year-old “business owner” who said his maximum annual income had been half a million dollars.

He further admitted that he had been so “broke” working in a store that he “didn’t have enough to eat.”

“So when no one was in the cafeteria, I went into the fridge and took a little bit of everyone’s lunch, just enough so they wouldn’t notice, but enough so I had something to eat,” he continued .

As for his turning point, he had seen “older friends” up close as they were growing up.

“I think a lot of times I would just be jealous of what they did. But still afraid to take the risks they took. But that’s the only way you do it.’

Reflecting on the importance of taking risks at a “young age,” he added that the “biggest risks you take early on are the ones that will actually pay off.” And really, no one reaches their full potential unless they take risks early on.”

Regarding his own biggest risk, he said, “I think the biggest risk I’ve taken is taking all the nervousness I had about it and just saying, ‘No, we’ll do it, or we’ll regret it next time. .” rest of our lives.”