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Part 5: Grant Cardone on Donating $18M to Scientology, Claims it's Not a Cult
Part 1: Grant Cardone on His $60M Malibu Mansion Burning Down
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In a recent interview, billionaire entrepreneur Grant Cardone outlined key financial principles to help people manage and grow their money effectively. Cardone emphasizes practical discipline, starting with his first rule: never count money until it’s actually in your bank account. Prematurely spending anticipated income often leads to financial trouble.
One standout rule discussed is the "40% rule," advocating that at least 40% of all income should be invested, ideally in illiquid assets that generate passive income over time. Cardone and his co-speaker highlight how investing consistently, even at the cost of a modest lifestyle, builds long-term wealth—citing examples of their own children benefiting from early investment strategies.
Cardone also advises leveraging tax advantages by purchasing only things you can write off, such as business-related expenses, which helps retain more capital for investment. According to Cardone, true financial success comes when your money starts working for you, not the other way around.
