American Hustle: How Grant Cardone Got Rich...and How You Can Too.
Charlie sits down with Grant Cardone to discuss his intense past, hitting rock bottom, and becoming an incredibly successful equity fund manager with booming businesses, a huge platform, and a portfolio of more than $4 billion. How did he become the highly sought-after businessman he is today? Who is he backing in the 2024 election? And how can a young person today get involved with the business world right away instead of wasting years inside a system rigged against them? For more content, become a member at members.charliekirk.com! Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.
Transcriber: nvidia/parakeet-tdt-0.6b-v2, sat-12l-sm, and large-v3-turbo
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Grant Cardone and Financial Success00:01:26
Hey everybody, happy Sunday.
My conversation with Grant Cardone.
Very popular financial mind, very successful as we talk about markets, real estate, investment, depreciation, and more.
Email us as always, freedom at charliekirk.com.
Listen to all of our episodes advertised or free by going to members.charliekirk.com.
That is members.charlikirk.com.
Check it out right now.
Buckle up, everybody.
Here we go.
Charlie, what you've done is incredible here.
Maybe Charlie Kirk is on the college campus.
I want you to know we are lucky to have Charlie Kirk.
Charlie Kirk's running the White House, folks.
I want to thank Charlie.
He's an incredible guy.
His spirit, his love of this country, he's done an amazing job building one of the most powerful youth organizations ever created.
Turning point USA.
We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
That's why we are here.
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All right, everybody, very special conversation with Grant Cardone.
Say that right?
Yes, sir.
Turning Point USA Mission00:15:33
You said it perfectly.
Welcome, man.
Good to be here.
You have a huge following, a lot of fans.
Not as many as you.
Well, it's very sweet.
I do think I have more enemies.
Well, I don't know, bro.
See, you don't know.
We can compare notes.
Okay, I mean, let's talk about hater wars.
We both have a fair amount of enemies, I think.
I want you just to tell your story.
It's a uniquely American story.
I love following your stuff on social.
It's always high energy.
It's about improving your life.
Tell us the Grant story.
Yeah, so I grew up raised by a single mother.
My dad died when I was 10 in Lake Charles, Louisiana, a refinery town.
So your choices there were you were going to be in a refinery or you're going to probably work for some small company that was doing accounting work for a refinery.
I didn't really fit either one of those.
Or you were going to be a fisherman out of Cameron, whatever.
So my dad died at 10, and my life, like, I was kept waiting, Charlie, for a male figure to show up.
It's one of the things I'm most passionate about: when the father goes away in the family, things tend to go metrically negative.
And that was the case for me.
I ended up on drugs when I was 15 years old.
Daily drug user for the next 10 years, black sheep of the family.
Grades went bad, like everything.
I just like my whole life was destroyed.
And so at 25, I went to Treatment Center for Drug Addiction, kicked the drugs.
I hadn't used drugs, thankfully, in 40 years.
Wow.
Yeah.
And been building business, been building companies ever since, rebuilding myself, my self-esteem, my finances, and trying to give back and help other people along the way.
And now you have an incredibly impressive portfolio, upwards of $4 billion.
Is that right?
That's right.
That's right.
How did that happen?
There's about, well, one deal at a time.
That's how it happened, you know.
So I bought a single family home when I was 28.
I didn't buy it to live in.
I bought it to rent it because I wanted the income.
Bought a second one 20 days later.
One of the tenants moved out.
Terrified me.
Sold the property.
And then I started studying real estate, how to buy it and scale so that if one person moved out or two people moved out, I wasn't being the manager.
I didn't want to be a manager.
I didn't want to handle the tenants and the termites and the toilets.
I didn't want to do the evictions.
I just wanted the cash flow.
I wanted the tax write-offs.
The depreciation.
Yeah, the big D, vitamin D, which I believe will keep people healthier than anything.
Oh, that's funny.
Yeah.
And I wanted the appreciation, the long-term appreciation.
And so that was, I don't know, $4.5 billion ago.
We have 20 other companies I'm either a founder, CEO, or an investor in that are probably worth another $3 or $4 billion.
I mean, to me, it's like mind-boggling.
Like, because I know where I was, where I started.
I remember not being able to make my rental payments, you know, my $275 a month.
So, you know, you can come a long way in America if you stay focused.
I mean, you've written a ton of books and all this, and I don't want to share anything that people should go to your seminars to learn.
But what are some of the principles, the eternal principles that guided you to the success you have?
Well, I mean, the first thing for me was, you know, I had to clean up.
Like, if I wouldn't have cleaned up, I had to, like, I had to.
Sobriety.
Yeah, I had to quit using drugs.
I didn't have an alcohol problem.
I had a drug problem.
So I quit drinking because the drinking always led to the drugs.
I mean, at the end of the day, I had to change.
And probably the loss of my dad and being maybe marginally brighter than the other students I was going to school with.
School was a disaster for me, dude.
Like, we pulled our kids out of the school system because it was an effing disaster.
Every bad habit I've ever had, I learned in a school, in a classroom.
Name one.
Drugs, alcohol, doodle time, skipping school, stealing, driving too fast, lying, perpetual lying, putting stuff off, not doing it, realizing nobody was going to actually hold me accountable.
It didn't matter whether I got a B or C, nothing changed.
So, and then I spent five years in school, so I got the debt to go with it.
I wouldn't recommend no one ever spend 12 years in high school, much less another four or five in college.
And so you started getting into the real estate game.
What year was that?
That was, let's see, I was 28, so this is 50, what it 98?
Yeah, 95.
95.
Yeah.
And so you start building this, but you built it largely without leverage.
Is that right?
So I bought the first two houses with leverage.
Okay.
I guess this was 88.
Yeah, this is I'm 30 years old, so it's 88.
They did not work, and then in 1991, I would buy my first apartment building.
Wow.
With leverage.
Yeah, 100%.
Okay.
Yeah, I love debt.
I mean, you can't do debt.
You can't do deals.
You see, this is a little different than Mr. Ramsey.
Come on.
So what do you think about?
Because he's like, that's the worst thing ever.
Don't do that.
Dave's stuck in an incident that's long gone past, and he's still stuck in it.
It'd be like, like, Dave's like, he had a girlfriend.
It didn't go well, so he decided never to get married.
That's what he's doing with debt.
Okay.
He had one form of debt, and now he thinks all debt is equal, and it's not.
It'd be like saying I'm not trying to pick on Dave.
No, no, I'm not.
But I think people don't understand the kind of debt he's saying to avoid is I went and bought a belt and I used my credit card to do it.
I have no credit card debt.
I have no personal debt of my own.
Yes.
Zeros.
No, I totally agree with you.
Yeah, I know you do.
And so I own two homes.
I own nothing on them.
I own $4.5 billion worth of real estate.
I owe $2.2 billion on the real estate.
I'm not paying that debt.
And it comes with all these beautiful benefits that are just written by the congressman in this country.
Yes, you have $2 billion in debt, which means that you write off probably $400 million in interest.
I mean, that's...
Every year I write off without limitation, $80 million.
Just interest payments.
Interest, another $40 million in property taxes.
And then the depreciation is probably $500 to $600 million.
Yeah, probably.
I'm not trying to put you on this.
No, no, look, the IRS knows Charlie can know.
Yeah, okay.
Like people ask me financial questions, by the way, anybody giving anyone financial advice, they're telling you their own business.
Oh, I respect that.
Yeah.
Like, I would just tell your audience, so anybody's going to give you financial advice?
Show me what you own.
Show me your portfolio.
Show me how much gold you have.
If you're going to get gold advice, show me the gold.
Show me the silver.
Show me the Bitcoin.
If they won't show you, you shouldn't listen to them.
So every property, the beautiful thing about real estate, as you know, Charlie, is it's all recorded data, right?
Like, I can't really tell you how many books I've sold.
I don't know because nobody kept a record of the number of books I sold.
Or I don't have a record to show you how many people paid to come to an event or listen to me online, but I know the address. of the Goldman deal that I bought from Goldman Sachs and put my name on.
I know what I paid.
It's a recorded event.
So you can't get tricked in real estate as easily.
So the story continued to grow.
And you...
Well, real estate wasn't the first money.
I was hustling.
I was basically, I worked for a car dealer.
I got out of a treatment center, and the only place I could get a job was as a car salesman.
And so I'm like, I took the job.
I didn't want the job.
I hated the job.
I had an accounting degree.
I'm like, what am I doing being a car salesman?
Dude, this is crazy.
I'm going backwards.
But it was my only choice.
So I decided I made a commitment back to these principles you're talking about.
I made a commitment to become great.
It's something that was disgusting.
And that has been a story of my life now for 40 years.
Like, if I don't like something, I'm going to learn how to get good at it.
Or I'm going to find somebody else that is exceptional.
The next thing you know, I'm a decent salesperson.
And I started looking at the problems with you going to a car dealer.
And the experience was so negative.
And I actually wrote a book about how that would change and went around and started teaching it to the manufacturers and the car dealers.
And it became very successful.
And so you now have 20 companies that you're an either investor or you're involved in and everything from health to real estate.
And so HVAC, solar, plumbing, chiropractic.
What's the hardest business you own?
Here's the way it usually works.
Let me guess.
There's one business that's 1% of your revenue and 99% of your problems.
Which one is that?
No, let me see.
Which one?
Look, the real estate is the best of all of them.
Okay.
There's no better business.
Is there one that's a disproportionate amount of headaches that doesn't necessarily bring home the yeah, probably the event business.
We do big events.
Yeah.
You know how hard.
We do events.
It's hard.
We don't have to make money on them because we're a nonprofit.
We just try to break even.
I don't know how you guys do it.
Yeah, I try to make money on everything.
I highly recommend this as a thesis.
Make money on everything, folks.
You deserve to.
You live in the greatest country in the world and you traded time for energy.
You had an idea, make money on it.
Like, why not?
But I get a lot of hate for that comment right there.
I agree with it completely.
He's all driven on the money thing.
No, you should be rewarded.
And you should be rewarded in a way that you consider to be whatever value is.
That's how you should be rewarded.
And if it's money, so be it.
So you think we're headed for a correction.
What do you mean by that?
Walk us through it.
I believe that we'll experience the greatest real estate correction in my lifetime, 65 years.
More than 08.
Oh, 100%.
So you're a 40 to 45% correction then.
But it will not be in housing.
It will not be in single-family housing.
It's an office.
It's going to be an office.
It's going to be in multifamily, these large complexes from Tempe to May 16.
Why are you buying them then?
Because I'm stealing them.
They're going down in value?
Dude, I'm stealing stuff right now.
Literally, I woke up this morning and said, please don't arrest me today.
Let me get away with this for another two years.
This is the biggest correction in my lifetime.
So you're saying the correction is already underway.
It's underway.
It's happening right now.
And the American public does not know what to look for because the American public is still trying to buy a house.
And you shouldn't be.
This is not a house moment.
This is a neighborhood community moment.
So the housing might go down 5% or 10%.
Maybe, maybe, and maybe it might not go down any.
I believe that when interesting.
I'm trying to agree with you.
Yeah.
That housing, I think, is actually more stable than people realize.
49% of all the homes in America, a renter's living in them, not an owner.
Most people don't know.
30%?
49%.
49%.
Yeah.
Okay.
90% of all the loans in America on single-family homes are below 5%, 90%.
40%.
50% remaining on their loan?
No, no, 90% of all the loans under a 5% interest rate.
Oh, they're locked in.
They're not.
Yeah, rates are 7.5% or 8%.
40% of all the loans on American homes today are under 3% interest.
There's no, there's on a 30-year mortgage.
Now, on the other side of that is all these large apartment complexes, retail, you know, strip centers, office buildings where the debt is now sitting at 8%, 9, 10, 11, 12%.
And the way these guys structure their deals, they go to buy a building and they get debt, as you know, on part of the building, and then they borrow equity from a pension fund.
These are these big monsters.
Or insurance companies, yeah.
Yeah, or insurance companies.
They're big players.
Well, that debt is in massive trouble.
There'll be $700 billion of that debt expired this year, much of which is on adjustables and much of which is in trouble right now.
And so what does that look like?
Looks like an opportunity for me.
So, but do you think that you're buying office buildings?
Do you think that they're going to come home eventually?
Yes, 100%.
Oh, so you think that the work-from-home thing is just the work-from-home thing is one of the biggest disasters in the history of the world.
So, you don't think it's a permanent.
So, it's a phase.
Yeah, the only people that want to keep working from home are people that are home, barely working.
The whole thing, every CEO that said, all the woke CEOs that said, let's go, oh, yeah, let's stay home, let's stay home.
Every one of them reversed.
There's not one man standing now that believes remote.
And Elon started it.
He stood up from the beginning.
That's not happening on my watch.
And we have two companies, three different locations with almost 1,000 employees.
The entire time, even through COVID, they were coming to work.
No, I think that's great.
And so you're looking at two places of opportunity.
Corrections underway.
Yeah.
So how much has, let's just say.
Nothing, nothing compared to what's going to happen.
Okay.
So you're still happy buying at the near top then if you think that there's a big correction.
No, we're already getting it.
Like we just bought, we bought a deal in Tampa last week.
What, 12 million?
You know, we're 12 million behind what they paid for it.
Oh, wow.
No, I'm stealing, man.
I'm telling you.
But if people are out saving money or looking for a 5.5% return on a treasury bill or trying to, you know, pay their house off, you're not going to see these opportunities because you're not looking for them.
People need to look at these big complexes that people have spent.
Like, why would I not build what you asked me right now?
Yeah, no, if that's safe.
Because they're going to build and they're going to spend $100 million and I'm going to buy it for $80 million.
And I didn't go through the stress of having to build.
Now, what's going to happen in this cycle, like 08, okay?
It'll be two or three or four years, 25, 26, 27.
All building will stop between now and 27.
In 2028, we'll look up and have the greatest housing shortage and the biggest spike in rents that we've ever seen in this country.
You seem really confident about that.
I am very confident.
Yeah, well, you're putting your money where your mouth is.
Yeah, exactly.
And I'm extremely conservative with money.
Like, I am the most frugal person you've ever met.
And so the regardless of what you see about me doing on Instagram.
No, no, no.
That's just attention getting stuff?
Totally.
I think it's great.
Yeah, yeah.
So the whole part where you say you buy helicopters to.
No, I bought a helicopter.
I bought two helicopters.
That wasn't the attention getting thing.
No, that was me trying to whack the IRS.
No, tell me about it.
I think this is fascinating.
Tell me about this.
Yeah, so I've done this before.
I mean, the first time I did this, I had a big tax bill, massive tax bill.
And look, I'm happy about it.
I'm like, oh, dude, I've produced enough that, you know, when I have an accounting background, so I actually know how to read an accounting statement in an IRS form.
And I'm like, oh, I got a tax issue in October.
And so I need to pay attention to this.
November comes.
I hadn't done anything about it.
December, I'm like, bro, I got a private jet tax problem.
So I went to my accounting guy and I said, hey, what can I do?
And he's like, nothing you can do about it.
So anytime I hear nothing you can do about it, I'm like, I know there's something I can do about it.
So I called Gulfstream up.
I don't own a jet at the time.
What year is this?
This is 20?
So before the heavy machinery deduction, 100%.
It was still on.
The 100% was still on.
So that was like 18 or 19.
Yeah, yeah.
Okay.
And I said, look, guys, I want to buy a Gulfstream.
You call up Savannah, Georgia, and you say, I want to buy a Gulfstream.
I want to buy a Gulfstream.
They don't know me.
I don't know them.
I had a little jet at the time, right?
So you get like an $80 million depreciation.
Yeah.
So I call them up and they say, we don't have a jet.
It literally has 14 days left in the month of December.
But you have to fly one business trip on that.
Buying Jets and Accounting Hacks00:15:17
That's right.
One 20-minute flight.
You know what I'll do?
You looking for a jet?
No, of course not.
The only people that know this is people that are looking at jets.
I hang around a lot.
Okay, guys.
I've heard all of it.
I don't have Gulfstream money yet.
So maybe one day the show will get some place.
Guarantee you will.
Rush Limbaugh program and we'll have it.
So they said, we don't have a jet to sell you until next year.
We could deliver next year.
I said, okay, thank you.
I had my CEO find out what their routing numbers were for their wiring department.
We wired full amount for the jet.
I called the president back and said, look, check your accounting department.
He said, hold on a second.
What do you got, Grant?
What are you doing?
I said, look, just look, check.
He's like, God damn, nobody's ever done that.
So I wired the entire amount and they found me a jet.
That was the first year.
So I whacked the IRS up.
So just so everyone knows what's going on, is that President Trump put forward a measure that if you had a piece of equipment that was heavy machinery over what pound?
5,000 pounds, 10,000 pounds, right?
Yes, definitely over 6,000 pounds.
Included jets, included RVs, included RVs, all the trucks, Range Rovers.
If you used it for a business purpose, so if you bought it in the end of December, then the next fiscal year, you could even use it personally or whatever.
And it's a second.
Yeah, but you write it off.
Like I bought it.
It's a full deduction.
Yeah, 100% of the, let's say, $65 million was written off in the year I purchased it, even though I'd only flown it once and I would keep it forever.
I mean, it's one of the greatest loopholes in the world.
The following year, we had another tax problem.
Okay, I continue to grow.
That was a good thing.
I'm growing, but all I got to do is read, just read and be committed.
And so we bought two Augusta 139s from, what, Pfizer?
Yeah, they were selling a lot of products.
Yeah, because they owned three of them, and they were getting three more, doing the same thing I was doing, just doing it at a bigger scale.
For those that don't know, Augusta is a helicopter.
Yeah, it's a helicopter.
It's a two-engine, unbelievable.
Yeah, it's an Italian company.
I think it's an Italian company, right?
Yeah, that's right.
So what other ways do you beat the, because you say you want to go broke twice a year.
That's your first time.
So what do you mean by that?
If I have money, I want to get rid of it.
I want to add assets.
By the end of the year, I want to have more assets than cash, assets that I can write off, assets that provide me a cash flow, assets that are a business that I don't have to work in.
Real estate just happens to be the best device in the world short of me going to start my own business because there's nothing better than your own business.
So that's the other thing is you'll deploy capital into businesses where you get deductions because of payroll and because of the payroll doesn't help me enough, you know, at that point, right?
So I need something juicy.
Magnus.
See, like a house for the audience, it gets written off over 27 years.
So a $2,700,000 house for simplicity, you can write off $100,000 a year.
But a $2.7 million apartment building, I could write off the whole thing, virtually the whole thing, the first 30 minutes that I own it.
And it would take me 27 years to do that with a house.
So do you own stocks, buying?
And can I just say it's very important for the audience to start paying attention to this because your biggest expense is not your mortgage or the gas bill, the electric bill, the water bill, the utilities.
It's taxes.
And it should be your desire and your goal to reduce your federal tax bill to zero or below, meaning refunds.
Now, paying me, I paid $40 million in property, local property taxes.
I don't mind paying those.
I don't like that.
You almost can't avoid those.
But I'm supporting my community.
I don't want to support the White House in a war.
Yes.
I'm not interested.
And for all of you that are against that, you need to figure out how to stop doing that because you're funding this.
No matter how you vote, you're funding the federal government.
What other deductions are popular for entrepreneurs to explore?
Trucks.
I bought a G wagon before the end of the year because it weighs 7,000 pounds.
Is it still 100% free machinery deduction even this year?
Or last year?
Yeah.
So I'm going to buy a car.
Okay, what car can I write off?
That's how I put it in.
I'm going to buy a belt.
All right.
Rather than me buying a boss belt for $49, I'm going to have a personal belt customized that says 10x on it, and then it's a write-off.
The shoes I have on, I would never buy these shoes.
They're $900.
Somebody gave them to me as a gift.
Now, if I was going to buy this shoe, I'd put my brand on it or my name, and then I'd write it off.
Advertising, marketing.
Like I bombed one year million dollars worth of marketing in December and assumed that problem that, or resolved that problem that year, even though the marketing might last longer than that.
Yeah, you could phase it out and you could have, I mean, you could space it out and all that.
Yeah, yeah.
But you need cash to do that, right?
You need money to make that move.
It's better to invest than to give it to the internal revenue system.
It's better to invest than it is to spend.
Yeah, you're one of the few people I've heard that's actually isolated that problem.
Yeah.
Yeah, and it's better to invest than it is to spend, and it's much better to invest than spend, and it's better to invest than pay taxes.
Where do you fall or in your portfolio if you're comfortable talking about it in stocks, bonds, mutual funds?
I have a little bit of Bitcoin.
I hate stocks.
Why don't you hang bonds?
I hate paper.
We made up one piece of paper.
They put In God We Trust on it.
Do you like gold then or no?
I hate gold.
Okay, but that's not paper.
Yeah, what is this?
That's a thing of silver from Noble Gold Investments.
I don't know what to do with it, dude.
I love Noble Gold Investments.
They're good dudes.
Yeah, no, I don't know.
You put it in your teeth.
I know they are.
But I don't know what to do with it.
Okay, so I like cash flow.
I like cash flow.
You like things that pay you back.
I want to be paid no more.
I want to do something.
Okay, let me play devil's advocate.
You got a stock that pays a dividend.
They only pay every quarter in most dividend stocks.
Apple pays a 0.01%.
Or like, okay, Campbell's Soup is like 5%.
But no, I hear you.
And I'm not even saying I'm not angry.
I'm with you.
I love conversation.
I love the dialogue.
As long as it's a friendly debate without defamation.
I got you.
Which we do want to talk about.
But no, what would somebody say, hey, dividends are the greatest thing ever?
You buy Campbell's Soup, they give you 4%.
Yeah, but those stocks don't typically do well.
No, that is true.
And there's a reason why they're offering you that dividend because they don't want you to sell the stock.
Exactly.
So, you know, but the great tech stocks.
Look, if you take the S ⁇ P 500 last year and you take seven stocks out, you have a loser.
Yeah, if you take out Amazon, Microsoft.
Take the big magical seven out, and they won't be magical forever.
My apartment buildings will be around longer than Google.
Google, Facebook, Microsoft, all those companies can get wiped out in any tech boom.
So you've tried to solve this problem, which I think is super unique.
You allow everyday people to invest into your deal, which I got to give you credit.
You have chutzpah, man.
Because you know, why do you say that?
You know the risk.
Well, yeah, I mean, I think about this stuff.
I mean, if you're going to take on, how many limited partners do you have?
10,000?
13,000 and growing.
I want it to be 130,000.
That's just one day.
How big is it?
Because it's the compliance department.
I mean, just to be able to feel that.
Because look, if I could distribute, we sent out 13,000 checks last month, $7 million.
November, we did the same thing.
October, the same thing.
September, the same thing.
Like, every month, we sent money out to people.
As a distribution.
As a distribution.
Okay.
Now, I'm a sales guy.
I've been selling.
I've been hustling people my whole life.
Hustling.
I got something to sell.
I got an idea.
Buy this, buy this, fund this.
But, you know, I've raised hundreds of millions of dollars for charity.
I don't like apologize about any of that.
I think that's very important for people to learn how to do.
But I am most proud that I send money back to people.
Like, this is you.
You made an investment with me.
These are life insurance quality real estate.
This is the best real estate people can invest in.
I mean, these are the biggest, these are trillion-dollar companies that invest in these products.
So rather than them buying it, these wealthy institutions, mostly, yeah, wealthy institutions and country club money, I buy it, everyday guy.
And I do it amongst regular, everyday people.
I will not take money from the banks or the institutions.
Now, they've never offered me enough to tend to it.
Now, just so I'm clear, you said you have $2.2 billion in debt.
Is that issued from banks or is that...
Oh, yeah, that's long-term bank money, though.
This is fanny medicine.
So what do you mean you'll never take, you won't take investment money from banks?
Yeah, banks are heavily involved in the equity portion of the real estate.
You got it.
So you won't take them as limited partners.
Yeah, but again, I've said it's only because they've never offered me enough money.
If they came to me and said, hey, we'll give you a billion dollars in cash, I'd be like...
But you'll have them issue some debt, obviously.
And not that there's anything wrong with it, right?
Well, no, we would put long-term debt.
We would put long-term debt on our deals.
Okay.
Right now, in this cycle, we're not using banks or institutions for either the equity or the loan.
That's amazing.
Because the banks are not friendly right now.
The banking system is...
I think we have 300 bank failures in the next 24 months.
We have 300.
Wow.
And I think we have multiple pension funds that will fail as well.
And we will have institutional syndicators.
You're talking about a systemic collapse then.
I'm talking about something that the federal government will have to step in and lower rates back to zero again.
Yeah, which means inflation will go to 20 to 30 percent.
Whatever.
But you've got to save the system.
So, you know, the inflation thing, also, like, I don't think printing money is the cause of inflation, personally.
What is the cause of inflation?
People doing stupid with money.
So misallocation of resources.
I give you, look, you give me $1,400.
You give me a billion dollars.
I'm not going to go be stupid.
I'm going to pay what something's worth.
It doesn't matter how much money you give me.
But if you give a billion people, a billion idiots, a billion dollars, they're going to do stupid, just like they did during COVID.
They sent out $1,400 checks to help people live.
And what did they do?
They went and bought shoes.
Luxury goods.
The wealthiest man on the planet was the Louis Vuitton guy from France.
It's crazy.
They didn't buy Gucci stock.
They bought Gucci's.
So anybody that did that, hey, inflation is caused by supply and demand.
It is not caused by the printing of money.
If you print money, the federal government prints money and fills this building up with money.
There was nothing happened.
Nothing changed.
No pricing changed.
They just did a print.
If they distribute that money to responsible people and we don't go overspend, we don't create inflation.
But when you give a billion dollars or $7 trillion out and people do stupid with it, well, guess what?
You're going to inflate everything.
Malinvestment.
Yeah.
So let's talk for a second here.
You recently had some pointed advice to Gen Z as to why they can't get ahead.
Yeah, what did I say?
I forget.
I write a lot of stuff.
So I don't know.
What did you say?
Well, I probably said go to work.
Because I read the headline and I just said Grant Cardone has advice for Gen Z.
It would be go to work.
Oh, by the way, those guys are a lot brighter than my generation.
Let me just say that.
You guys don't believe in homes and you're right.
Yahoo Finance.
Grant Cardone to Gen Z.
Yeah.
These money mistakes prevent you from getting rich.
Is that what you call an interview?
You just read headlines like most people.
Hey, I go a little, I go to the second paragraph.
Okay.
Things are more expensive.
College debt sucks.
Finding a job is hard, but that doesn't mean getting rich is impossible.
Let's talk about Gen Z. They'll say this: they'll say, Grant, love your story.
Love the ambition.
You're the outlier, not the rule.
I can't own anything.
I can't afford anything.
And I don't agree with them, but there's a sliver of truth.
It's harder to get in the game.
I agree with that.
I agree.
But let's just say what they do right.
First of all, they believe that people are working too hard and not getting paid anything for it.
I agree with that.
Okay.
They believe the house is a scam.
They watched their parents lose their homes in 2008.
Unfortunately, everybody's forgot about that.
Now they think that a house is a great deal.
They believe the banking system is a complete scam.
I agree with you guys on that.
They believe that college is a complete waste of time, and you guys are right on that.
I don't know where you're at on college.
There you go.
Complete scam.
And everybody should read that book right now.
I wrote the whole book, The College Scam.
I didn't go to college.
It is its biggest scam.
And I went, so I can attest to it.
Yep.
It is as big a scam that's ever been perpetuated on the American public.
That you have to go to college, particularly on black and brown communities that are told this is your only way up.
You have to go to college.
It's not true.
So that's Gen Z.
I think that's Gen Z. What age is that?
Gen Z's like 18 to 29.
Yeah, now the other thing is you guys can't all be influencers and make a living.
That's what you say here.
Allow social media to influence your spending.
Yeah, it's a stupid job to think you're going to be an influencer.
Everybody cannot be an influencer.
And you're just being a bit of a prostitute.
Yes.
Let's keep it real.
Like, it's just another form of, I'm an influencer, whatever that means.
You're going to get likes and followers.
You're not going to get money.
There's no money in most influencers.
So even the big influencers don't actually make any money.
So you also have, you have 10x, which is kind of your biggest thing.
10x is my brand.
Yeah.
Yes.
It's a book I wrote.
Riff on that.
The 10x rule.
It's a bigger thing.
It's like, okay, that generation of people.
Like, if you think you need to do one thing to get something accomplished, multiply it times 10.
And that's really what it's going to take.
If you think $10 is going to make you happy, multiply it times 10.
If you think a million is going to make you happy, multiply it times 10.
If you think 10 friends or 10 employees or 10 trips are going to get it done, multiply it times 10 and you're going to be closer to the truth.
And you have 10x Health as well.
Talk about that.
Yep.
It's a company we bought two years ago.
Gary Breck is our partner.
You might have seen him online.
And I was a customer.
I think at 62 years old, I got involved with it.
It helped me immensely.
And I said, Gary, I want to buy the company and make sure tens of millions of people can be on this rather than a handful.
Yeah, and it's grown like wild.
Yeah.
Yeah.
So I want to end with some politics.
Okay.
Country's a mess.
Yep.
Where do you think you're a man of predictions?
Okay.
Of trends.
Where do you think this thing ends politically?
As you're kind of in, not really in politics, but you see things other people don't see.
Thank you.
So tell our audience, truthfully, if it's bad news, we want to hear it.
No, I don't think Joe runs.
Okay.
They pull him.
I think that's smart.
Yeah.
That he doesn't run.
No, I agree with you.
I think that he.
Yeah, I don't think he runs.
I've been saying this.
I don't think he's going to make it.
I don't think it's about making it.
I think he drops.
I think they move him out.
I don't really understand politics the way you do, but I think they pull him.
I actually think Michelle runs.
I think even with no experience or whatever she's hiding, she still gets 80 million votes without even a platform.
I think she's done everything based on what he did, what Barack did prior to.
She's checked every box.
She's come in public now.
She just did Shetty's show.
So she did a light show, I think, to give her coverage and see what the response is.
And I think she would be a problem for us.
I agree.
On the other side.
Yeah.
And so are you supportive of Trump?
Very much so.
Tell the audience why.
Politics, Running, and Expectations00:04:42
Look, I know him, and I know when.
He's an admirer of yours, too.
Yeah, thank you.
Yeah.
He's a good dude.
He's a good dude.
And, you know, when people that do know him know who he really is.
And I'm just, I'm a mass supporter.
I have for 40 years of my life wanted a non-politician to tell me the truth.
I don't care how you say it to me, by the way.
Don't water it down.
Don't change it.
Don't have anybody write your bullet.
Just give me like it is.
And then I'll decipher for myself whether you say it to me the way I want to hear it or not is not what I wanted.
I want the truth.
And I expect him, by the way, to be self-serving to some degree.
I am self-serving, but I don't hurt anybody around me.
And I like that about me, that I'm self-serving, trying to help myself and my family, but I do it in a way where other people benefit as well.
And I think that's what Donald Trump does.
We asked our audience to send in some questions because we mentioned you were coming on.
Somebody's wanted, they wonder about your daily routine.
Try to beat the sun up.
Okay.
I didn't do it today because I've been traveling.
I did three cities in the last day and a half.
How many days do you travel a year, do you think?
I don't know.
I don't know.
Last year, maybe, I don't know.
I don't know.
I don't travel a lot anymore.
Oh, okay.
We do massive amounts of work on that.
Do you try to beat up the sun?
Try to beat the sun up.
Try to eat good every day.
I spend time with my kids every single day.
And I'm a very active father.
We homeschool our kids.
Amazing.
And as soon as I get to work in the morning, first thing I look at, a piece of paper like this comes to me with my accounts, every one of my accounts, where they're at.
And so I pay attention to my money.
So you're in the office by 7.30, 8 a.m.?
No, probably 9.
Oh, okay.
9.
We do a meeting every day.
Sometimes I'm at that meeting, sometimes I'm not.
And then we get going.
Then I take whatever comes my way during the day.
And get home around.
Try to get to sleep at 9, 10 o'clock at night.
Try to stay away from too much political stuff.
Yeah, and fitness and health.
Where does that go?
I work out every day.
Every day.
Yeah.
So I do my best to work out every day.
My body needs it.
It likes it.
It wants it.
And then I fast probably until about 2 o'clock in the afternoon.
Oh, wow.
So big fasting window.
It doesn't feel like it's a big thing.
And then you've also...
I think people eat like, they just eat to eat.
Correct.
You know, fasting's amazing for you.
Yeah.
Yeah, the benefits are.
I used to do one day a week, every Monday, I would not eat that day.
And it was just a thing for me to trick myself into believing I had more discipline than I have.
Final advice, thoughts, things you want to plug?
Well, yeah, sure, man.
You guys need to fight harder.
Like that thing dropped today about this defamation suit.
Yeah, yeah.
Talk about that.
While I can't, you know, talk about exactly about the lawsuit itself.
You know, I just got put in a situation with this gentleman where I had no alternative but to say, hey, look, dude, I've told you once, I told you twice, you're the ex-CEO of T-Mobile.
I can read the story if you'd like me to.
Is that helpful for you, Grant?
No, I mean, I'm just, I want to help you out here.
Whatever, go ahead.
It's New York Post.
Finance guru, Garant Cardone, slaps telecom big, John Legier with a $100 million defamation suit.
And it says here that he called you some bad stuff.
I'm not going to repeat it here on air.
It's not worthy of repetition.
And you're suing him for $100 million.
Yeah.
Yeah.
And it'll probably be worth more than that.
So, and what's happened, Charlie, is you know, by the way, there's, and this is just one guy.
I don't know what's going on with this cat.
He knows better.
He ran a $140 billion company that's based on brand and reputation.
Now, this has become very popular online with podcasters, clickbaiters, YouTubers, influencers.
They get to say whatever they want about whoever they want.
I know you are.
So, this fight is not just to protect my brand, my name, my reputation, and my businesses.
And there's been hundreds of millions of dollars in damages.
It's also provable damages.
Oh, I can 1,000% validate and prove.
This is done every day to everyday people with a podcaster that wants to build their YouTube channel and they use your name or my name or someone's name, add some terrible clickbaity, attention-grabbing fraud, stole the hundred million.
Like, none of this has research or due diligence, no package to back it.
There's nobody done any homework, and they say it and they pretend to hide underneath you're a public figure, and I have my First Amendment rights.
Okay, well, you don't have the right to defame or slander.
To knowingly defame.
Defamation Rights and Sponsorship00:00:50
That's right.
Particularly if you're a guy that ran a $140 billion publicly traded company.
That's right.
So, this is also to send a message to him and to others that have tried to benefit, raise money off my name, or build an audience off my name, and then get sponsorship off my name.
I'm hoping I can do something good to put that to rest.
Well, I thank you for standing up against people that spread lies.
Yeah.
It's important because nobody's holding them accountable.
Well, Grant, great to have you here, man.
Thank you.
And you're expanding here in Arizona.
I love it.
I love seeing the expanded presence, and it's great to meet you, man.
Appreciate it.
God bless.
Thanks.
Thanks so much for listening, everybody.
Email us as always, freedom at charliekirk.com.
Thanks so much for listening, and God bless.
For more on many of these stories and news you can trust, go to CharlieKirk.com.