Category Archives: Celebrities and Money

Dwayne Johnson: The Rock Solid and The Fast and The Furious Way To Make Millions

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“Success isn’t always about ‘Greatness’, it’s about consistency. Consistent, hard work gains success. Greatness will come.” – Dwayne Johnson

Well unless you have been living under a Rock, then you have heard of the name Dwayne “The Rock” Johnson.

One of the most successful wrestlers to come out of the WWE of all time.

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The Rock is an inspiration to millions with his good attitude, humility, and great sense of humor. One of the hardest working men in show business today.

If there is a movies coming out, then The Rock either auditioned for, saw the script, produced, or is starring in it. I mean the guy has a movie coming out like every two weeks!

He recently made headlines in January 2019 for not getting cast in Crazy Rich Asians?!!

As he worked with the film’s director, Jon M. Chu, in the 2013 sci-fi action film “G.I. Joe: Retaliation,” with Bruce Willis.

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Regardless, The Rock isn’t low on cash by any means.

He has an estimated net worth of over $150 Million.

On my continued journey toward studying the self-made, the man du jour is Dwayne Johnson.

Full Disclosure: I located numerous interviews, read magazine articles, and reporting on The Rock. One of the best came from Wonderwall.

So here we go.

Get your popcorn ready cause this is a long one.

I’m about to open up The Rock’s wallet and give you a peek inside.  

Let’s smell what The Rock is cookin’ in his bank books shall we?

THE ROCK BEGINS: CAUGHT BETWEEN A ROCK AND A HARD PLACE

Dwayne Johnson, was born in California on May 2, 1972. Although he grew up poor in Hawaii, he is now one of the richest men in Hollywood, but the poverty he faced during his childhood is never far from his mind.

Case in point, On Thanksgiving 2017, The Rock revealed in a lengthy Instagram post that “there was a time back in ’87 when we couldn’t even afford Thanksgiving dinner and [were] praying someone would invite us over their house to eat.”

Due to his father’s work as a professional wrestler, the family was constantly in flux and bouncing around from place to place.

Wrestling is in The Rock’s blood.

Wrestling is actually the Johnson family business — his father Rocky Johnson was a star in the 1970s and ’80s, while his Samoan grandfather Peter Maivia was famous in the 1960s.

As his mother was unable to keep a steady job because of this, they went through hard times.

HARD KNOCK LIFE

In another IG post, in May 2015, the wrestler-actor revealed on Instagram that “when I was 14yrs old we were evicted out of our apartment in Hawaii ’cause we couldn’t afford the $180 per week rent.”

In 2014, he told The Hollywood Reporter that a week before they were evicted, he watched his mother’s car get repossessed. He reportedly added to her troubles by joining a theft ring that targeted affluent stores in Waikiki.

In addition, he stated in another interview that they were so broke that his mother doesn’t remember walking out into incoming traffic before he pushed her out of the way.

It was at that moment he decided to make changes in his life. He said to himself, “What can I do with these two hands?” That is when he decided to start working out.

“The successful men I knew were men who built their bodies.” – The Rock

He also stated while growing up people thought he was a girl and that they referred to him as one “all the time.”

KICK ROCKS

“I’ll never, ever be full. I’ll always be hungry. Obviously, I’m not talking about food.

Growing up, I had nothing for such a long time.” – The Rock

The Rock is now one the biggest movie stars in the world. But before the A-list super-stardom and even before his WWE debut, Dwayne Johnson was just a guy that was down on his luck.

He decided that he wanted to play football. He worked tirelessly and gave everything he had to the sport. His hard work paid off.

Johnson was a promising football prospect and received offers from many Division I collegiate programs. After finishing high school in Pennsylvania, he went on to play college football. He decided on a full scholarship from the University of Miami, playing defensive tackle. In 1991, he was on the Miami Hurricanes’ national championship team.

The 6-foot-5, 290-pound Johnson started only once, appearing in 39 games with a total of 77 tackles and 4.25 sacks. With muscles on top of muscles, he was a sight to behold. He was a physical specimen from Day 1.

It was once quoted about The Rock, “He was a jack-of-all-trades, but only a master at wrasslin’.

Ed Orgeron, University of Miami defensive line coach (1989-1992), once had this to say about The Rock.

“His uncle was Jimmy Snuka, he came from a wrestling family. So we knew about that.

“I remember one-day walking off the field, he hadn’t had a good day and I said something like, ‘You know, Dwayne, you should just become a wrestler.'”

Warren Sapp, NFL pro football 2013 Hall of Famer, said this of playing football with The Rock.

“So we used to joke with him by saying, ‘When you get done with football, you’re going to go into wrestling, right?’

“And he’d say: ‘Damn right, bitch.’

Everyone always had the same thing to say about Johnson, he was charismatic, humble, and down-to-earth.

The Rock would go on to complete a bachelor of general studies degree. But his football career was coming to an end around the same time his academic career did.

WRESTLING WITH $7 BUCKS

“1995. $7 Bucks In My Pocket. I Knew Two Things: I’m Broke As Hell and One Day I Won’t Be” – The Rock

In 1995, Dwayne Johnson signed with the Canadian Football League’s Calgary Stampeders at a yearly salary of $35,000. According to The Hollywood Reporter, after just two months, he got knocked down to the practice team, which paid just $250 a week.

That had to hurt!

During that time, he reportedly shared a two-bedroom apartment with three other players, “eating ramen noodles and spaghetti and sleeping on a filthy mattress he had found ditched outside a pay-by-the-hour sex motel,” wrote THR. When he was cut from the team not long after that, he had just $7 to his name.

This is when he decided to become a wrestler. He begged his father to show him the ropes. Get it 😉

Dwayne Johnson made his WWE debut in 1996, becoming the first third-generation wrestler in the league. (His father, Rocky Johnson, and his maternal grandfather, Peter Maivia, were both professional wrestlers.) He quickly became one of the sport’s biggest stars. According to Fortune, during his second year in the WWE, The Rock made enough money to accomplish a childhood dream: He bought his first Rolex. (He smashed the $35,000 timepiece in the ring just a week later.)

I mean, wow!

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“When You Walk Up To Opportunity’s Door: Don’t Knock It. Kick That Bitch In, Smile and Introduce Yourself” – The Rock

Dwayne Johnson officially transitioned to Hollywood in 1999, the year he played a version of his father, wrestler Rocky Johnson, on “That ’70s Show,” where he got to act out with Topher Grace as Eric Forman.

The following year, he channeled his wrestling alter ego (complete with cocked eyebrow) to portray an alien gladiator on an episode of “Star Trek: Voyager.” A month later, he hosted “Saturday Night Live” for the first time. Each of these television appearances — as well as a few others — helped him prove his acting chops and win fans outside of the wrestling world.

The people’s champ was becoming the acting champ.

Things started really moving steadily from there for The Rock.

In 2000, Dwayne Johnson released his memoir “The Rock Says…,” which debuted at No. 1 on The New York Times bestseller list.

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Keep in mind, Writing isn’t generally a high-paying gig—unless you happen to be the top-selling author.

Fun Fact: While this gains the coveted “NYT BESTSELLER” status for the authors, it doesn’t net a lot of money. There are weeks in the year where you can make the NYT list with as few as a couple of thousand sales.

According to Career Trend, Given the royalties of a standard contract, an author selling 20,000 books priced at $25 would earn $65,625 the first week on the “New York Times” best-seller list. This is not quite the millions superstar authors bank, but if the book continues to sell, these earnings add up to an impressive income.

Then The Rock hit pay dirt. He booked a starring role in a major Hollywood film.

 In 2001, Dwayne Johnson made his feature-film debut as The Scorpion King in “The Mummy Returns.” He reportedly banked $500K for his brief appearance in the action-adventure sequel to 1999’s “The Mummy.” His work in the film was so popular, he scored his own spinoff.

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THE BUSINESS OF BEING THE ROCK

The Road To Success and Greatness Is Always Paved With Consistent Hard Work. Outwork Your Competitors, Be Authentic And Above All Else. Chase Your Greatness” – The Rock

Dwayne “The Rock” Johnson rose to fame thanks to his exploits in the pro wrestling ring and got his first big break in the movie business as the Scorpion King in 2001’s “The Mummy Returns.”

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He holds the Guinness World Record for highest paid for a movie debut, as he received a $5 million-dollar paycheck for his role.

In 2004, Dwayne Johnson left the WWE to focus on his Hollywood acting career. The following year, he earned raves for his performance as a gay cowboy bodyguard and aspiring actor in “Be Cool.” Further signaling his transition from professional wrestler to serious actor, he was credited as Dwayne “The Rock” Johnson instead of just “The Rock” for his work in 2006’s “Gridiron Gang.” With 2008’s “Get Smart” — at the urging of his agents at CAA — he officially changed his stage name to Dwayne Johnson.

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CAA, short for Creative Artists Agency, is also one of the biggest entertainment agencies in the world.

GIVING BACK

“I Like To Use The Hard Times in The Past, To Motivate Me Today” – The Rock

In 2006, Dwayne Johnson and then-wife Dany Garcia, who fell in love while they were students at the University of Miami, donated $2 million to their alma mater to help fund a renovation to the school’s alumni center. In 2007, they donated $1 million to the college’s Football Facilities Renovation Fund, which was reportedly the largest donation ever from a former student to the university’s athletic department. The University of Miami renamed their football locker room in his honor: It’s now the Dwayne “The Rock” Johnson Football Locker Room.

If that is not karma coming full circle, then I do not know what is! From getting cut from a football team to having a university athletic department named after you. Totally badass!!!

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PERSONAL DIFFERENCES

In 2008, Dwayne Johnson and college sweetheart Dany Garcia divorced after 10 years of marriage and one daughter, Simone. The same year they split romantically, Dany became her ex’s manager. “I was already deeply involved with his agents, I was already commenting on scripts. It was a very natural conversation, where he just said to me, ‘I would love for you to do this full-time,'” she told Marie Claire in 2017.

PERSONAL DIFFERENCES ASIDE, KEEP ON TRUCKING…ALL THE WAY TO THE BANK

In 2010, Dwyane Johnson portrayed star police officer Christopher Danson in “The Other Guys.” He reportedly earned $9 million for his role in the action-comedy…. even though (spoiler alert!) his character gets killed off just 15 minutes into the movie.

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Dwayne Johnson executive produced the 2010 documentary “Racing Dreams.” The film, which centers around young drivers chasing the kart racing championship title, marked The Rock’s debut as a producer.

I mean, does this guy ever stop working?!!! Now he’s a producer.

In 2011, Dwayne Johnson parted ways with CAA, whose agents had urged him to distance himself from the wrestling world. He signed with WME and legendary agent Ari Emanuel (on whom Jeremy Piven’s “Entourage” alter ego, Ari Gold, is based), and officially returned to the WWE that February.

You see that. He trusted his instincts and listed to himself, not just the advice of his management team. Others may help you along your journey, but ultimately you make the final decision. ALWAYS!!!

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He appeared in a number of big WWE events over the course of the next few years and, according to some reports, banked $3.5 million per year for his efforts. Apparently, he was worth every penny: “We set pay-per-view buy-rate records and attendance records each time,” he gushed to Fortune of his big return to the WWE. In April 2016, the league confirmed that WrestleMania 32 set a new attendance record for the WWE with 101,763 fans in the crowd at AT&T Stadium in Arlington, Texas.

Would you look at that?

Setting records. Smacking down candy asses. Being eye candy. Raising eyebrows and rising paychecks.

That is my description of The Rock!!

FAST AND FURIOUS MONEY

“Let Actions Do Your Talkin For You, (Unless You’re Telling A Good Dirty Joke)”

In an Essence magazine article, he was asked what he was wearing while talking over the phone. His answer: A thong. Backwards. 🤣Your boy has got jokes!!!

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The Rock is now taking life a quarter mile at a time.

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In April 2011, Dwayne Johnson made his film-franchise debut as Luke Hobbs in “Fast Five.” At the time, the fifth installment in the “Fast & Furious” franchise had the top opening weekend of any film ever to open in the month of April, though that record has since been beat. He went on to appear in the next three films in the series and has become such a fan favorite that he and Jason Statham scored their very own spin-off movie, “Hobbs and Shaw,” which is scheduled for release in the summer of 2019.

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SEVEN BUCKS PRODUCTIONS

In 2012, Dwayne Johnson and ex-wife Dany Garcia co-founded their own production company, Seven Bucks Productions — a nod to that time the wrestler-actor found himself with just $7 to his name after getting the boot from the Canadian Football League. The company has produced several of The Rock’s recent films including “Jumanji: Welcome to the Jungle,” “Baywatch,” “Rampage” and “Skyscraper” as well as the TV shows “Ballers,” “The Hero” and “Wake Up Call.”

One of my personal favorite television shows I have ever seen The Rock do was the show “Wake Up Call.”

Dwayne ‘The Rock’ Johnson: At 23, I Had Only $7 In My Pocket — Then I Turned My Life Around

According to Business Insider, “In TNT’s new show “Wake Up Call,” Dwayne “The Rock” Johnson lends a helping hand to everyday people who are facing enormous challenges in their lives. From dysfunctional homes and dead-beat dads to sports teams that don’t gel and businesses struggling to survive.”

MILK DOES A BODY GOOD

Dwayne Johnson starred in a commercial for the “Got Milk?” campaign that debuted during the Super Bowl on Feb. 3, 2013. He appeared in more advertisements for the campaign later that year.

He’s steady cashing them checks!!!💰 Cha ching! 😂

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Dwayne Johnson made his reality TV debut on the TNT competition series “The Hero” in June 2013. He hosted all eight episodes of the short-lived show. The following year, The Rock returned to the network with the eight-episode series “Wake Up Call,” which tracked his efforts to help average Americans transform their lives. His third stab at reality TV, “The Titan Games,” is scheduled to debut on NBC in January 2019. According to an official synopsis, the competition series (which is in the vein of “American Gladiatiors”) is inspired by the wrestler-actor’s “desire to motivate global audiences to reach their potential both mentally and physically.” Hopefully it fares better than its predecessors!

You can say that again. He’s been cancelled more times than checks!

BLOOD, SWEAT, AND RESPECT

“Blood, Sweat and Respect. First Two You Give, Last One You Earn” – The Rock

According to Fortune, movies in which Dwayne Johnson appeared made $1.3 billion at the worldwide box office in 2013 — more than any other actor that year. To be fair, he starred in four movies that debuted in 2013: “Snitch,” “G.I. Joe: Retaliation,” “Pain & Gain” and “Fast & Furious 6” (pictured).

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My absolute favorite film in The Fast and The Furious franchise is Fast Five. It earned over $500 million in box office receipts. It set the stage for the billion-dollar franchise. This was a huge record at the time in 2011 for the film and The Rock most certainly helped put butts in those theater seats!

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In 2014, The Rock starred in Hercules. It was a big budget film that cost $100 million USD to make. It grossed over $244 million at the box office, but was not the money maker studios would have liked.

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To be fair, I saw the film. I thought it was excellent. Solid performances by The Rock and the whole cast. My absolute favorite was Ingrid Bolsø Berdal. She was outstanding in the film. She was the Legolas of the film. You know the role that made Orlando Bloom famous in The Lord of the Rings franchise.

You know how it goes: “One Ring to rule them all, One Ring to find them, One Ring to bring them all and in the Darkness bind them.”

Or DC Comic Universe’s The Arrow.

Like Jennifer Lawrence in The Hunger Games, she too uses a bow and arrow. You know it is always the coolest party people that use the infamous bow and arrow and that is because it takes REAL skill.

“With Drive And A Bit Of Talent, You Can Move Mountains” – The Rock

In May 2015, Dwayne Johnson starred as a rescue helicopter pilot in “San Andreas.” He reportedly banked $25 million — the biggest paycheck of his career so far — for his role in the disaster flick. There are reports that the box office hit will get a sequel, though no moves have been made yet on the project.

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Alas, as of this writing, it doesn’t look like the movie pulled in enough dough to make that happen.

“Ballers” debuted on HBO in June 2015. According to Variety, Dwayne Johnson makes $650K per episode of the series — more than any other actor makes on TV aside from the five main stars of “The Big Bang Theory,” who each bank $900K per episode of the CBS sitcom.

As of this writing, The Big Bang Theory (TBBT), will be ending and going off the air in Spring 2019. This stems from Jim Parsons’ decision to leave the series at the end of the season if the show were to be renewed for a thirteenth season. The series will conclude with an hour long finale consisting of two back-to-back episodes on May 16, 2019.

In October 2015, Dwayne Johnson announced that he’d signed on to promote Ford’s service departments. Since then, he’s appeared in several ad campaigns for the motor company.

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In November 2015, Dwayne Johnson reportedly donated $1,500 to a shelter puppy who’d been named after him. The 4-month-old pooch required expensive medical treatment for a heart murmur.

THE BRAHMA BULL GETS INK AND INKS A DEAL WITH UNDER ARMOUR

“Success at anything will always come down to this: Focus & Effort, and we control both.” – The Rock

The Rock’s iconic tattoo.

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The tattoos are beliefs of his ancestors from his father’s side and mothers sides. His black culture, his Samoan culture, all cumulates in a belief that the spirit of his ancestors is protecting his family. These tattoos represent great struggle and about overcoming them.

The tattoo on his body comes down to 3 things; his family, protection of his family, and about having a true warrior spirit forever.

Dwayne Johnson launched his partnership with Under Armour in January 2016. The first item from his collaboration with the athletic brand, a duffle bag, sold out within 24 hours. Since then, he’s released everything from clothes and wireless headphones to sneakers through his Project Rock collection for Under Armour. On May 28, 2018, The Rock’s Project Rock 1 shoes for Under Armour sold out in 30 minutes.

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NO FREE APPLE iPHONES OR APPS

Remember in my last post, when I talked about Taylor Swift putting Apple iTunes on blast about free music? No? That’s ok. Here’s the link 😉

Well, now The Rock is working with Apple.

In May 2016, Dwayne Johnson launched an iPhone app, The Rock Clock, that’s essentially an alarm clock that wakes up users with exclusive inspirational video messages from the actor-wrestler. Users can also sync their alarms with The Rock’s so that they too can rise and shine at 4 a.m. every day to start their daily fitness routines. “Our goal was create a free, direct, uncomplicated, cool, motivating app to help us all get after our goals every morning,” the superstar explained on Instagram.

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And remember this? iPhone 7 | The Rock x Siri Dominate the Day | Apple. If you look closely, you will see that fannie pack pic of him while he ‘s driving the Lyft car!!! 😂And in the video his manager calls him DJ. I would love an uncle DJ that can treat me to an ice cream anytime!

AND YOUTUBE

In July 2016, Dwayne Johnson launched his own YouTube channel. Original series on the channel include the cooking show “What The Rock Is Cooking” and “Millennials: The Musical,” a collaboration with “Moana” co-star Lin-Manuel Miranda.

In January 2017, Dwayne Johnson launched Seven Bucks Digital Studios, a branch of his Seven Bucks Productions focusing on developing new original online content.

In April 2017, Dwayne Johnson returned to the role of Luke Hobbs in “The Fate of the Furious.” The eighth installment in the beloved “Fast & Furious” franchise opened worldwide to more than $541 million. At the time, it was the largest global opening of any film ever. (“Avengers: Infinity War” broke the record the following year.)

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In July 2017, Dwayne Johnson starred in an ad campaign for Apple’s iPhone 7 and Siri titled “The Rock x Siri Dominate The Day.”

In September 2017, Dwayne Johnson and ex-wife Dany Garcia launched Seven Bucks Creative, a creative ad agency within their production company, Seven Bucks Productions. In March 2018, the company released its first campaign: two videos promoting The Rock’s Project Rock collection for Under Armour, naturally!

In December 2017, Dwayne Johnson headlined “Jumanji: Welcome to the Jungle.” The reboot of the original 1995 family action flick “Jumanji” was a surprise sleeper hit, becoming Sony’s highest grossing film of all time domestically. It trucked along at the box office for months, becoming the first movie since 1998’s “Titanic” to open in December and top the box office in February. All in all, the film was so successful, Sony ordered another installment in the series for late 2019.

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RAKING IN THE DOUGH BY THE TRUCKLOADS

In February 2018, before writer-director Rawson Marshall Thurber had even penned a script, Universal and Legendary teamed up to win a bidding war for “Red Notice,” which Rawson describes as “a big international heist picture, that is tonally in the vein of ‘Ocean’s 11’ meets ‘True Lies’ by the way of ‘Thomas Crown Affair.'” The two studios agreed to finance the film at $160 million based on a pitch meeting and the fact that Dwayne Johnson is attached to star. (According to Deadline, the deal is the largest for a studio movie in Hollywood so far this year.) The Rock will reportedly bank $22 million plus backend to play “an Interpol agent who is tasked with catching the most wanted art thief in the world.”

In mid-July 2018, Forbes released its list of the world’s 100 highest paid entertainers. Dwayne Johnson came in at No. 5 behind Floyd Mayweather, George Clooney, Kylie Jenner and Judge Judy. “The former wrestler tallied the highest ever acting take-home in Celebrity 100 history, thanks to giant upfront paychecks and a cut of profits on blockbusters including ‘Jumanji: Welcome to the Jungle.’ A huge social following allows him to negotiate an extra seven figures atop his standard contract for promotion, helping nearly double his 2017 earnings,” wrote Forbes. So how much exactly he is taking home in 2018? A whopping $124 million.

At this point, he is making money hand over fist. Just genius right there with his negotiations. I have no words.

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Dwayne Johnson’s generosity is practically legendary. In late July 2018, he took to Instagram to share a video of himself surprising his longtime stunt double (and cousin) Tanoai Reed with a new truck. “Not only does Tanoai represent our family and my career with relentless commitment and passion. He also represents an entire Hollywood stunt community that is truly the backbone of our business,” The Rock wrote in the caption. Giving thanks where it’s due? That’s good business! Over the years, the wrestler-actor also bought a Lamborghini Gallardo for one of his cousins, a Cadillac Escalade for his dad, a Cadillac truck for his mom, a Honda Civic for another cousin, a Lexus SUV for yet another cousin, a Ford F-150 for an uncle and another Ford pickup truck for his longtime housekeeper.

As of August 2018, Dwayne Johnson is the most followed male entertainer on Instagram with 112 million followers.

As of this writing, he now has over 136 million followers on Instagram. He is the king of Insta!!!! He is the undisputed, follower for follower, heavyweight champ of IG!

Two snaps for you Dwayne!!! You Rock!!

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 He’s the seventh-most followed celebrity behind Selena Gomez, soccer star Cristiano Ronaldo, Ariana Grande, Beyonce, Kim Kardashian West and Kylie Jenner. According to Forbes, The Rock “insists on a separate seven-figure social media fee” for every movie in which he appears.” Basically, his social media accounts are worth millions in marketing and advertising dollars.

And that ladies and gentleman is how The Rock built his empire.

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Here is his formula: Blood, Sweat, and Respect + Hard work and Consistency = Success.   

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And that’s how it’s done.

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Money and Chocolate: Life Lessons from the film The Witches

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The most sophisticated people I know – inside they are all children. – Jim Henson

If you ever saw the film Willy Wonka and the Chocolate Factory, then you know how much people love chocolate. And it can be a goldmine business or chocolate mine depending on how you look at it. 😉 People were losing their minds to get that golden ticket.

Chocolate Mania had swept the nation! 😂

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It was pure marketing genius. They even commented on that in the film. Wonka was making a mint selling those chocolate bars. It’s all about marketing folks!

It’s sort of like Patron. They don’t have the best tequila; they just have the best marketing. Get that money.

Just look at all the money the candy business makes! Billions!

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Here are some of the top chocolate companies in the world.

1. Mars Inc., McLean, VA., USA.

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2. Mondeléz International Inc., Deerfield, Ill.

Largest Chocolate Manufacturers

3. Nestlé SA, Vevey, Switzerland.

Largest Chocolate Manufacturers

4. Ferrero Group, Alba, Italy.

Largest Chocolate Manufacturers

5. Hershey Foods Corp., Hershey, Pa., USA.

Largest Chocolate Manufacturers 2019

6. Meiji Co. Ltd., Tokyo, Japan.

Largest Chocolate Manufacturers

7. Chocoladenfabriken Lindt & Sprüngli AG, Kilchberg, Switzerland.

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The confectionery business is big money. These companies are raking in billions of dollars.

Did you know Snickers earns more than $2 billion by itself annually?

The Маrѕ fаmіlіеѕ аrе thе оwnеrs оf thіѕ соmраnу thаt ореrаtеѕ wоrldwіdе. Тhеу hаvе wіdе vаrіеtіеѕ оf brаndѕ іnсludіng Gаlаху, Воuntу, М&М, Тwіх, Міlkу Wау, аnd Ѕnісkеrѕ. Globally they are making bank!

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They may have even helped spread the let’s have candy at every event or holiday cheer. If not, I am sure they somehow found a way to cultivate and capitalize on Halloween and even Christmas.

Who says you need a box of chocolate on Valentines?!!! Most people don’t even eat most of it. That box of chocolates is still bought and paid for!

If you ever saw the film Legally Blond, you actually saw her do what most do with a box of variously filled chocolates. That’s right. She took a bite and put it BACK in the box!

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Reese Witherspoon in Legally Blond

Mondelez International Inc. even tried to cash in on this love of chocolate. However, they have officially abandoned its pursuit of Hershey Co., which would have created the biggest confectionery conglomerate in the world.

Now that you have some background on the business of chocolate, let’s get down to money affairs.

Back in 1990, the movie, The Witches, based on the 1983 children’s novel of the same title by Roald Dahl, was released in theaters. The movie premiered on 25 May 1990, in London and was scheduled to open the same day in the United States, but was delayed until August.

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Sadly, it would be Muppet and Fraggle Rock creator, Jim Henson’s last film.

As in the original novel, the story features evil witches who masquerade as ordinary women and hurt children. However, a boy and his grandmother need to find a way to foil and destroy them.

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The witches decide they will open up, get this, chocolate shops to lure poor unsuspecting children.

This is where the story begins.

GUARDIANS OF THE MILKY WAY GALAXY

While on vacation in Norway, eight-year-old American boy Luke Eveshim is warned about the witches, female demons with a boundless hatred for children and various methods of destroying or transforming them.

Helga, Luke’s Grandmother, becomes his legal guardian after the passing of his parents. They move to England. His grandmother is advised to take a vacation for a summer by the sea for fresh air after discovering she has diabetes.

Also staying at the hotel are a convention of witches, masquerading as the Royal Society for the Prevention of Cruelty to Children, with the Grand High Witch, the all-powerful leader of the world’s witches, attending their annual meeting under the name Eva Ernst (played by Academy Award Winner Angelica Houston).

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Really? They have some nerve naming their coven the Prevention of Cruelty to children. Hiding in plain sight like that, but open to interpretation. Yes, indeed.

Let us examine the fact that Luke had a grandmother that not only decided to raise him, but has the financial means to take a vacation by the sea.

I have it on good authority that if you try to rent a house on Virginia Beach for a week it can set you back $5,000!

I wouldn’t mind paying that if I had investments like interest earned from stocks or royalties to pay for it.

If you have $25,000, you could earn over 2 percent in a high yield savings account. That’s the ish I’m talking about right there. Making money for breathing. That is the equivalent of doing a part-time gig and earning $500 a year.

I find the idea of earning money just for having a pulse so sexy.  I find that It’s like Beyoncé says in her song Rocket. Shhh. Just listen.  To the words. Hell yeah, you the sh*t That’s why you’re my equivalent So sexy! Haha

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See my posts

How Beyonce and Jay-Z became a $1 billion couple

Earn Money with High Yield Savings Accounts

FOR THE LOVE OF CHOCOLATE

The witches are going to open up chocolate shops!

Inside a ballroom where the witches hold their meeting, Luke spies upon them as the Grand High Witch unveils her latest creation: a magic potion to turn children into mice, which they will use on confectionery products in sweet shops and candy stores to be opened using money provided by her.

They know how to make their vision a reality.

You have to chart a course and follow that path to where you want to go. What path? You just point to the top and go! That’s what I learned from Dwayne “The Rock” Johnson 😉

I have also learned that when you own something to hold onto it.

It doesn’t matter of it is a taco stand, food truck, or blog. If you own 100%, then it’s yours to do with as you wish. Hold on to as much equity and ownership in your company as possible. I learned that from Shark Tank’s Daymond John. Like McDonald’s does to its hamburgers, keep grinding.

And try to be cash heavy. Meaning stay away from debt. I learned that from Warren Buffet. 😉 They say his company Berkshire Hathaway aims to keep $1 billion or more in cash to snap up businesses and be able to make quick decisions when buying stocks.

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In addition, they say Apple does the same. The world’s first EVER $1 trillion-dollar company keeps billions in cash.  

Therefore, you should do the same and follow in their example. ALWAYS have cash reserves. NO EXCUSES!!!

Like Mr. Money Mustache once said, “Salads and barbells every day, no goddamned excuses!!!”

WE ALL WANT TO BE ROYALS

And I don’t mean Prince William and Kate Middleton.

I mean getting royalty checks in the mail.

I saw an article in which Don McLean owns only 2 stocks: Google and Amazon.

I also recently read that Don McLean continues to receive royalties off his music he wrote almost 50 years ago. Yes, this artist still makes $300,000 per year from something he created in 1971.

In the article by Sovereign Man, it retells McLean’s story.

Early spring in 1971 when an obscure American folk singer wrote a song that would change his life forever.

Sitting at a café in Saratoga Springs, New York, Don McLean scribbled the lyrics to a long ballad about an experience he had as a 13-year-old boy.

It began with a radio bulletin that said that Buddy Holly had died in a plane crash. In 1959, when this happened they called it the day the music died. The boy was crushed. But the man used this emotion to write a song that would take the world by storm.

Of course, that song was “American Pie.”

It stayed atop the Billboard music charts for more than a year. And it turned this once obscure folk singer into a global sensation.

Ah yes, the power of the pen.

More than that – McLean was immediately set for life: he still makes more than $300,000 a year from that song.

Imagine getting paid hundreds of thousands of dollars a year for something you did in 1971!

That is what stocks can do for you! That is why we must invest. Unless you can write the next hit song for Beyoncé, you must invest in the stock market to make money on your money. You already earned it and now your money works for you and this is your equivalent to getting royalties.

This story holds the key to one of the greatest business models ever invented: the idea that you can create something once and get paid on it for life.

“The idea is not to live forever, it is to create something that will.” – Andy Warhol

For more information on the price of genius and Andy Warhol, see my post The Man Behind the Mohawk: An Interview with Budgets are Sexy.

It’s the royalty business. That’s right. I did the work like 20 years ago. Now cut the check!

In case you’re not familiar with the term, a royalty is a cash payment that you receive over and over again from an asset that you created, developed, or own.

For example, songwriters collect a royalty every time a song they write is played, purchased, downloaded or streamed. Some more than others.

That is why Taylor Swift was mad at Apple iTunes for giving away artists music, such as herself, for free for three months!

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That’s why McLean still makes money from American Pie. You have to pay to play. Music that is. In this case anyway.

Royalties are also common in natural resources. Royalty companies often provide financing to oil and mining companies… and those borrowers pay a royalty on every ounce of gold or gallon of oil that the land produces.

Authors earn a royalty every time somebody buys their book. Inventors receive royalties from their patents. Why do you think Beyoncé trademarked Blue Ivy, Taylor Swift trademarked Swiftmas, and Cardi B is trying to trademark OKrrrrrrr?!!!

Patents equals paychecks.  

And people who own royalties don’t have to do anything else to make money… except cash the checks.

The powerful cashflow of this model can be incredibly appealing to investors, and there are even some companies that specialize in acquiring assets that produce royalty income.

Therefore, if you are good at something, don’t give it away for free.

Even though I am a HUGE Marvel comics fan, I actually got the last comment mentioned above from DC Comics The Joker. 😉

It’s still true though. You have to admit.

If I could, I would tap dance on Twitter, if they paid me.

Me and my lipstick confessions charge a premium for the really good stuff.

I would hand draw or smack lipstick stickers 💋on Kylie Jenner’s lip kits if she paid me $400.

Joan Rivers wrote jokes for days. She once said jokingly, that she would, “write for Hitler for $500.”

See my post on Money gems from Joan Rivers

Whatever you do that is great, DON’T DO IT FOR FREE.

That’s just my 2 cents. And I take cash, check, or charge.

I’m like the girl scouts. Out there selling those cookies. You don’t see them giving it away for FREE.

I’m just saying. Have a plan for your life and your money, then make it happen.

Don’t let anyone tell you what you can’t accomplish or do. No matter how small you are. Even if you are just a kid.

The Witches always remind of that.

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Millionaire Pets: Pets With Their Own Line Of Credit

Cat, Kitten, House, Animal, Pet, Red

After 12 years of reading about personal finance, it never ceases to amaze me all the things you can learn. I not only learn about money, but I also get a history lesson in the process.

Did you know that credit cards have only been in widespread use since the 1950’s?

Before 1950, credit was rare.

Most places did not offer much in the way of credit. They wanted cold, hard cash.

Stores may have provided familiar faces and those in the community with a store credit, but you better believe it was not a $25,000 limit!

I decided to have some fun last summer and see if I could get approved for $5,000 on some random credit card. Well, guess what? I got approved for over $20,000 in credit limits!

However, that pales in comparison to some offers that some people have claimed their pets have received in the mail. You read that right, pets!

I have read numerous books and articles where people have received credit card offers for their pets.

Come on, America! 

If the pet’s owner cannot afford a $400 emergency, as the media claims, then how is an unemployed Yorkie going to payback over $50,000. And yes, that is a limit I read one couple stated their dog received. And that was only one offer. They also received others with one being $100,000!

However, there are some pets who earn their keep and make millions for their owners.

This post, for now, will focus on how Fido is able to write checks for his own bone and chew toys that his puppy paws can cash.

MILLIONAIRE PETS

If you read my post 4 Financial Futuristic Nuggets: The Economics of the Jetsons, I discussed Millionaire Pets in that article.

Let’s take this a step further shall we and discuss real life ones!

It was recently reported that celebrity designer to the stars Karl Lagerfeld has passed away last month. He leaves behind an estimated $100 million-dollar fortune. The media was speculating that his cat may inherit a chunk of that money. Holy cow! Or should I say, MEOW!!!

In addition, Real Estate heiress Leona Helmsley left her pet dog $12 Million in 2007. The will was contested and the pet received death threats, which caused money to be diverted for security! Unbelievable! Any who, the pet ended up receiving a mere $2 million after the case was settled. That sure buys a heck of a lot of Puppy Chow!

Can you believe that?! A pet that literally has their own access to a line of credit to pay bills including for their own security guards!

See my post on The Jetsons

CREDIT CARDS: EASY MONEY THE HARD WAY 

Once credit cards started being more the norm, it exploded!

Once you turn 18, it used to be time to go down to the MVA and sign up to vote. Now, it’s when credit card offers come in the mail.

I remember when I got my very first credit card for $250! I even had a secure credit card for $500. That’s a far cry from the $20k, I was approved for last year.

After the 2008-2009 financial crisis, credit dried up faster than nail polish. They were slashing limits faster than prices at Wal-Mart! Then it slowly started creeping back up. As it stands, credit card debt is now higher than it was in 2009!  It stands now at over $1 trillion! The current outstanding revolving debt in the U.S. is $1.05 trillion.

The average debt in America has increased 18.5 percent since 2013! In 2015, the average American was in $5,700 dollars of credit card debt. As of the end of 2017, it is up to $6,354.

The laissez faire capitalism in America allows you to actually have access to $100,000 of credit while only making less than half of that.

See my post How to get access to $250,000 in credit with $0 of your own money

 Debt is crippling. It can have long lasting consequences if not handled quickly. You have to pay off debt ASAP.

A guideline I use is anything you have that is under 7%, you do not have to pay off right away if you have other higher interest debt to take care of. However, if that debt is higher than 7%, you need to attack that debt like your financial house is on fire. Your financial destiny is depending on you to get your financial house in order.

Once you have the debt paid off, then you can build your financial foundation on solid financial footing. All the money going to creditors will now stay in your bank account and can be invested.

That is how wealth is built.

Money gems from Joan Rivers: How she paid off $37 Million of Debt and became a $100 Million-Dollar Funny Lady

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“People say that money is not the key to happiness, but I always figured if you have enough money, you can have a key made.”― Joan Rivers

Joan Rivers was a comedic force to be reckoned with, but it didn’t start out that way. She was born in 1933. Her parents were immigrants and even though her father was a medical doctor, he was more frugal than her upwardly mobile mother wanted.

Joan’s attitude toward money was shaped early. She saw that men managed the finances and women were financially dependent on their husbands. It would be many years later before Joan would learn that is a grave financial mistake.

On my quest to study the self-made, I decided to look into the life of Joan Rivers. I was not disappointed. You can also read some of my other posts on celebrities and money.

Gene Simmons: On Power

Rihanna from music maven to mogul

How Dave Grohl turned passion into profits

Joan wound up in $37 Million dollars of debt at the age of 54. Her grueling and formidable work ethic is the only thing that saved her from poverty. At the time of her passing, at the age of 81, Joan Rivers was estimated to be worth $150 Million.  

Here is her story.

EVERYONE LOVES A CLOWN

I succeeded by saying what everyone else is thinking. –Joan Rivers

Joan was the vice president of her high school drama club. She graduated from Barnard College in 1954 in Literature. She worked numerous jobs to support herself. Joan was a writer, tour guide, and fashion consultant.

Joan was quick-witted, very sharp, and had a penetrating and original intelligence that was like none other. A female comic was a hard living, but that is the life she chose. Her gift of gab became her meal ticket.

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Joan Rivers once said that she liked the comedy business and being a comedienne. This job had nothing to do with race, wealth, privilege, your background, religion, or gender. Either you have talent or you don’t.  

For a decade, Joan couldn’t really catch much of a break. She did learn that comedy was her gift. Even without the support of her parents, she continued her grind and gift of gags. This work ethic finally paid off in 1965. After 3 years and 7 auditions, she booked the Johnny Carson show.

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There was no stopping her now.

WORK, WORK, WORK, WORK, WORK

I hate housework! You make the beds, you do the dishes and six months later you have to start all over again.

I wish I had a twin, so I could know what I’d look like without plastic surgery.

Women should look good. Work on yourselves. Education? I spit on education. No man is ever going to put his hand up your dress looking for a library card.

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From 1965-1986, all Joan did was WORK! She wrote jokes, movie and television scripts, made guest appearances on television shows, did stand-up comedy gigs, and directed film.

If the job came with a paycheck, Joan did it. She was fearless and took on every paying gig that came her way. She even won a Grammy Award for Best Comedy Album in in 1983.

She hit the big time when, in 1986, Fox Television Network gave her a late night talk show, The Late Show Starring Joan Rivers, making Rivers the first woman to have her own late-night talk show on a major network.

However, unbelievable tragedy struck. She and her husband were fired from the show and following his death that same year, she learned she was in debt to the tune of $37 Million!

Broke, alone, and jobless for once in her life, Joan was without words. However, she did what she knows best; she went back to work.

THE FASHIONABLY BROKE POLICE

Yesterday is history, tomorrow is a mystery, today is God’s gift, that’s why we call it the present.

I was a financial idiot.

Others may be smarter than you and know how to manage your money better, but you care more.

It was in 1989, The Joan Rivers Show, which ran for five seasons, put Joan back on the map and in the driver’s seat of her financial life.

Joan designed a jewelry line, clothing and beauty products and sold them on QVC. She said that she had bills to pay as to the reason to become a celebrity entrepreneur selling products on QVC. By the time of her death, sales of her products exceeded $1 billion!

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During this time in the 1990’s, Joan wrote best-selling books, hosted television shows and won an Emmy!

Joan had charted her own path to success and financial security.

Don’t follow any advice, no matter how good, until you feel as deeply in your spirit as you think in your mind that the counsel is wise.

One of my favorite stand-up comedians is Chris Rock. I once saw an interview where he said Joan was an underrated comic.

On another interview, this is what Chris Rock said:

 You think she’s better than Robin Williams?

Yeah, well, put it this way, she could definitely follow him. That’s it. You as a reporter might go one way or the other. But put a bunch of comedians in a room and go, “Okay, who’s going to have a good set?” Who could Joan Rivers NOT follow? You’re not going to come up with anybody’s name. There’s literally no one in the world Joan Rivers couldn’t follow and blow off the stage.

It’s problematic to label her a female comedian?

You know, she did do a lot for women, but she did a lot for comedy. Please! A lot of my style is Joan Rivers. A lot! But, you know, nobody would ever say that because we don’t look alike. She’s one of the greatest to ever live!

What do you mean a lot of your style is Joan Rivers?

I mean, just watch me on any awards show telling jokes about celebrities. Who started that shit? Joan Rivers! [Laughs.]

Joan continued her grueling work schedule in the 2000’s.

The comedian hosted E!’s “Live from the Red Carpet” from 1996 to 2004 and later became a co-host on E!’s “Fashion Police,” which premiered in 2002. She did this with her daughter Melissa Rivers.

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Joan was hilarious on this show. Remember that one time she tried to give Kelly Osbourne dating advice. You don’t? No problem. I found someone on Twitter who stays well-informed on all things fashion.

Joan insisted she date an older man.

Kelly Osbourne: “I don’t want old balls, Joan.”

Joan: “Old balls roll to Tiffany’s.” 😂

In 2009, she won “The Celebrity Apprentice.” Then starred in “Joan & Melissa: Joan Knows Best?” and constantly toured doing comedy gigs and guest starring on television shows.

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THE LAST LAUGH ALL THE WAY TO THE BANK

And JOAN GOT PAID!!!!

Some of Joan’s best jokes were about money. She made a mint off of telling jokes about wealth. Smart lady!

I don’t exercise. If God had wanted me to bend over, he would have put diamonds on the floor.

The first time I see a jogger smiling, I’ll consider it.

Every woman in this room tonight: Think like a second wife. You grab and you take. You grab and you take. And when you die, whatever you got out of him you have buried on you. If the next bitch wants it, make her dig for it. 😂

I’ll write for Hitler for $500

“Elle says she and Dakota are ‘normal sisters’ who just go to school and play together…In their six-hundred-room mansion on the island they own.”

Joan even joked about marriage and divorce. Nothing was off limits!

“Half of all marriages end in divorce—and then there are the really unhappy ones.”

“I would never get married again. Never, absolutely not – but for 10 carats, maybe.” 😁😂

That reminds me of a hilarious joke I remember from the late Robin Williams.

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He said:  Divorce is expensive. I used to joke they were going to call it “all the money”, but they changed it to “alimony”. It’s ripping your heart out through your wallet.

She wrote 13 best-selling books. Her work calendar was FULL! She had gigs lined up for months.

Joan said that for her a calendar full of gigs equals happiness.

I saw in one television documentary about her that she would write all her jokes down and put them in a large file cabinet with toms of tiny draws to house her wit. She said at her age, people forget things, and that includes jokes so she writes them down.

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Joan Rivers: A Piece of Work

Her biggest money-maker was her QVC royalties. At the time of her passing, it was reported that she was earning as much as $50 million per year!

She enjoyed a lavish lifestyle. She has a Penthouse in Manhattan reportedly worth $35 million, antique furniture, rare books and other assets of valuable such as diamond jewelry and artwork.

When asked why she works so much as she can retire rich, she replied that she wanted to live lavish and opulently. She did not want to cut back. She wanted to enjoy creature comforts, spend her wealth, and help and support others with it. Working allowed her to do that.

Not bad for a woman who nobody though would make it. Underestimated, underrated, undervalued, and unappreciated in every way. But in the end, the duckling turned into a beautiful swan.

A very rich one.

So, cheers to you Ms. Joan Rivers. Joan may be gone but she’s still getting applause.

And when it comes to finances, from me she is getting a standing ovation.

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Gene Simmons On Power

“Walk amongst the natives by day, but in your heart be Superman.” ― Gene Simmons

In 2017, Gene Simmons wrote a book called, On Power: My Journey Through the Corridors of Power and How You Can Get More Power.

This book was nothing like I expected.

It was MORE.

Like the title says, it’s about getting more power. Become more powerful than you ever thought you could be. It all starts with your actions.

Let’s get right into it.

WHO IS GENE SIMMONS?

Image: Forbes.com

The short version is that he is a co-founder and front-man of the band KISS, that he helped start in the 1970’s. They are America’s #1 gold record-award-winning group of all time.

Image: New York Post

Gene grew up dirt poor. He practiced guitar for hours after watching The Beatles on an appearance of the Ed Sullivan show, he knew then that he wanted to be a rock star.

According to Harper Collins, the book was inspired by Niccolo Machiavelli’s The Prince, Simmons offers his unique take on the dynamics of power in every realm of life, from the bedroom to the boardroom, to the world of rock, celebrity, and social media, to politics. With one-of-a-kind anecdotes from his life and career, as well as stories from historical and contemporary masters of power, including Winston Churchill, Napoleon Bonaparte, Warren Buffett, Michael Jordan, Oprah, and Elon Musk, Simmons crafts a persuasive and provocative theory on how the pursuit of power drives civilization and defines our lives.

Gene Simmons has an estimated net worth of over $50 million dollars. So, I decided to give the book a quick read. Glad I did.

POWER IS WHAT EVERYONE WANTS

People want power.

  • Power over their lives
  • Power over their time
  • Power over their professional lives and career
  • Power over their money

So, how do you get this so-called power.

It’s a power grab for sure.

Gene takes a no-holds-barred approach to his life and on power. It’s dog eat dog out there. You have to be one of the big dogs.

Gene believed that everyone deserves power and that it is yours for the taking.

In his book, he gives you the key to unlock the doors to the temple of power.

GENE ON EDUCATION

“It’s up to you to educate yourself.”

“It’s up to you to learn speaking skills and people skills.”

“It’s up to you to try (and usually fail, but to try again) all sorts of ventures.”

“Believe me, the library is the temple of God. Education is the most sacred religion of all.” 

He graduated from Richmond College in New York City getting a bachelor’s degree in education. At one point, he was a school teacher in the Upper West Side.

Gene also speaks multiple languages such as German and Hebrew.

I noticed this was also a theme of Scrooge McDuck. Get a good education, become a linguist, and get to work.

I read everything I can get my little hands on. I go to the library every month. I regularly check out 4-5 books at a time. Sometimes more. I do believe in being well-read.

GENE ON SUCCESS

The rest is a combination of hard work, being at the right place …at the right time…with the right thing…oh yes…and more (never ending) hard work.” 

You want success? Well, you have to work for it.

Gene puts his money where his mouth is.

He worked for a butcher hauling up huge slabs of meat and cleaning the blood off the butcher block. Gene has worked as a typist and sold fruit on the side of the road when he was 8 years old.

Make no mistake. Gene is a hard worker and a hustler. He was working multiple jobs to get ahead. Similar to Jay Leno.

As for myself, at one point, I was working as a waitress, cashier, or in sales. In addition, to going to college and studying at times up to 5-7 hours a day! Going to bed at 1 am and getting up at 6 am. Rinse and repeat! I did that for years.

GENE ON ENTREPRENEURSHIP AND CAPITALISM

“Before I ever knew what the word Entrepreneur was, I realized in America and in the Western part of the world in general, you are given the opportunity to be whatever you want to be. And that is all anyone should ever expect from the Capitalist system. The rest is up to you.”

Yep. America is the land of YOYO (You’re on your own).

You learn real quick that no one is coming to save you. You have to create your own safety net. You can’t depend on the government. The only person to depend and rely on is self. Get it? Got it? Good.

GENE ON MONEY

“So much of our popular mythology focuses on the negative aspects of power that we forget that gaining power is, perhaps, the only way to enable ourselves to make a difference in our lives and in the lives of others.”

Gene says you must first get your financial house in order before you can espouse love.

This is similar to what I once heard Tyra Banks mother say, “you have to get yourself together first, before you can help anybody else.”

You should always be looking for ways to earn and expand those earnings. KISS started out with nothing. They slowly built a following. IT. TOOK. YEARS. They were riding around in an old van going from gig to gig and living off hot dogs.

But KISS got smart. They started licensing their name. Everything from lunchboxes to t-shirts. Their moniker is big. Multi-million dollar deals got them to the top of the heap. Monetize everything is Gene’s motto. And he has. And it’s been lucrative to say the least.

So, there you have it. Gene Simmons on power. If you want it bad enough, you just have to work and rock-n-roll all night, like KISS, to get it.

The Capitalist Code by Ben Stein

The first step to getting the things you want out of life is this: Decide what you want. – Ben Stein

Ben Stein is an economist and actor, who wrote a book in 2017, called The Capitalist Code: It Can Save Your Life and Make You Very Rich. He has an estimated net worth of over $5 million. So, I thought I would check his book out.

On my quest to follow the money, I have discovered lots of books, blogs, and information about money.

I have been told I am seriously into all things money. Friends sometimes call me “the money lady.” That’s fine with me. I take that as a compliment. There are much worse things to be called than that.

But, I get it. I do have a laser-like focus when it comes to getting things done. I can be a task-master. It comes naturally to me. I just can’t help it because I believe in finishing what I start.

I learned that lesson from one of my favorite childhood books Where the Red Fern Grows.

You could say I’m a bit obsessed with learning about money. However, it has served me well to know about personal finance. I have a six-figure retirement and save over 40 percent of my income. All that came from reading finance books!

That is how I came to find this book. It is a quick read as the book is on the small side at 146 pages in length. I knew the name Ben Stein, but I wanted to find out What is The Capitalist Code?

But first…

WHO IS BEN STEIN?

“I’m an economist by training. I don’t really work as an economist. I only worked briefly as an economist.”

There is a short bio description of him online at goodreads which states:

Jewish-American economic and political commentator, writer, actor and attorney. He gained early success as a speechwriter for American presidents Richard Nixon and Gerald Ford. Later he entered the entertainment field and became an Emmy Award-winning actor, comedian, and game show host. He is famous for his monotonous yet humorous voice in acting.

For those who may not be that familiar with the name you may remember him from his self-titled television show, “Win Ben Stein’s Money” or from the film, Ferris Bueller’s Day Off.

“As to a media personality, well that just happened in large measure because people found me amusing, and I did lots and lots of T.V. news interview shows.”

“It’s a great stretch for me to do my game show. It’s very hard. It’s not me at all. The only part that’s me is sort of when I’m sitting in the booth looking tormented. That’s the only part that’s the real me.”

In Ferris Bueller, he is actually discussing a real topic of the era. During the 1980’s, Reaganomics was also referred to as voodoo economics or trickle-down economics. I’ll give you more on this topic later, in a future post. 😉

Ben has written for publication’s such as Barron’s, The New York Times, Fortune, and the Wall Street Journal. And numerous financial books including this one.

WHAT IS CAPITALISM?

By definition, an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state. You will often hear it referred to as a free market or free enterprise.

Simply put, capitalism is a system of investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained by individuals and corporations instead of by state-owned means.  Participants privately own capital.

Ben says, “Free market capitalism is a fantastic wealth-producing system and allows individuals to amass wealth.”

In addition, “There is no freer, more diverse, and more equal opportunity employer than capitalism. . . If you can produce a large amount of excess over your costs, you get well paid. And if you produce very much more than you cost, you get rich.”

A free market of competition, not a central government or regulating body, dictates production levels and prices. True capitalism needs a competitive market because without competition, monopolies exist.

See my post in which I discuss monopolies for more information

WHAT IS BEN’S ADVICE ON CAPITALISM?

“If there’s a recession, I’d buy stocks. That’s when you make money: when markets are spooked.”

His primary objection of this book, is to get people off the sidelines and into the market.

“The sad fact is that spending rises every year, no matter what people want or say they want.”

This book gives you the #1 simple thing you can start doing today to grow your wealth — thanks to this “rigged” system known as capitalism.

Anyone can do it. You don’t need to have a Harvard or Economics degree or be a financial expert.

Basically, he wants you to do this: Invest in the stock market.

It’s a way to own a tiny piece of a big business and minimize your risk. Your piece of the American financial pie.

More specifically: invest in an index fund of the S&P 500.

You’ll own a tiny piece of a bunch of businesses and you’ll have more money when it’s time to retire.

That is also Warren Buffet’s advice among others.

See my post below on stock ownership

Patience is the key to wealth 

BEN ON WALL STREET

“Trying to pick individual stocks is a trap. I can’t do it. Warren Buffett can, but hardly anyone else can beat the indexes over a long period of time.”

It’s easy to think of big business as morally bankrupt, but it isn’t, really. Business leadership can make poor/unethical decisions, but being big doesn’t make them inherently wicked, and being a small business doesn’t make it inherently virtuous.

“I agree that there are some bad apples on Wall Street. I spent about ten years exposing corporate and financial fraud for ‘Barron’s’ magazine and I found a lot to write about.”

If you want to know more about stocks, you can read numerous books and magazines on the topic such as Value Line, The Intelligent Investor, and anything by Jack Bogle.

The key point is this: Free market capitalism is an incredible machine for making wealth. Corporations “rain money” year after year. If you don’t participate, you are making a huge blunder. It doesn’t take a genius, but it does take a plan—a “little bit of knowledge and an even smaller amount of action.”

SCARY STATISTICS

“The education system should teach us about money; it’s an incredibly big subject. I run into people all the time that don’t have the first clue of what they should do about money.”

Ben states the following about personal finance in America:

  • Most Americans have not inherited wealth or a successful business that could set them up for life
  • 80% of millennial’s have no plan whatsoever for retirement savings
  • Many Americans are saving NOTHING
  • The average person says they need about $50,000 per year for retirement; but only has savings to achieve 20% of that number
  • We live in a country where more than half the people couldn’t come up with $500 in cash today if they had a family emergency

Source: GoBanking

WHAT YOU NEED TO DO

According to Ben, you need to save first, and then spend— automatically.

That’s similar advice that Shark Tank’s Kevin O’Leary says: “Don’t spend too much. Mostly save. Always invest.”

Barnes and Noble provides this overview of the book: harness the incredible power of the U.S. economy for enjoyment and security by being owners of profitable businesses-by consistent, conservative investment starting as young as possible in a diversified port- folio of stocks. Anyone can be a capitalist—and should be. All it takes is a little bit of knowledge and an even smaller amount of action. All it takes is The Capitalist Code.

BEN ON EDUCATION

“There is a clear, unequivocal, if generalized, connection between the amount of education that a man or woman achieves and the amount he or she earns.”

In the book, he shows what women can earn with a degree…

And men.

Agreed. I notice that the more education you have, the more informed decisions people tend to make.

Although, in my opinion, education is not an equalizer it does; however, provide you with increased opportunity, knowledge and exposure to scholarly information.

For most folks, a bachelor’s degree is enough. Particularly, from a reputable in-state public or private accredited institution.

I will never forget when I was reading Arnold Schwarzenegger’s biography when he saw a PhD professor driving up in an old, beat up car and he said to himself that if that is what an advanced degree gets you, then that guy was in the wrong career.

BEN ON SPENDING

“You must arrange your life from the very get-go so that you are spending less than you earn.”

Yep. I have learned it is not what you make, but what you spend.

You can totally blow through $200,000 USD a year after taxes! Just keep buying big homes and expensive cars.

BEN ON PICKING STOCKS

How should you invest?

“You don’t need to “play the market” and try to pick stocks. Just buying and holding index funds is a simple, effective method that beats money managers most of the time.”

How long should I hold onto stocks?

Hold onto these funds as long as possible.”

Should I sell as soon as I get a sizable gain?

“Take advantage of huge tax subsidies for deferring investment gains.”

BEN ON WEALTH

“A highly disproportionate amount of the good things in life accrue to those who have financial capital. The easiest way is to own index funds.”

He states you must acquire wealth.

I too have read you must pursue wealth. You may not want to chase money, but sitting on your laurels won’t attract money and abundance to you. Wealth is something that is attracted to those that have beat inertia and exhibit exertion.

Well, there you have it.

Straight from the guy who is pretty focused on one-task himself as he continued to utter that famous line, Bueller? Bueller? Bueller? Bueller? 

Just like someone had pity on him and answered him in the movie, Mr. Stein has answered a lot of your money answers in his book. The code is capitalist. He has given you the key to unlock the secrets on how to build wealth. So, use his key. Because guess what? The secret is out!