The Charlie Kirk Show - January 21, 2024


American Hustle: How Grant Cardone Got Rich...and How You Can Too.


Episode Stats

Length

37 minutes

Words per Minute

202.04405

Word Count

7,644

Sentence Count

879


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Transcript

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00:00:00.000 Hey everybody, happy Sunday.
00:00:01.000 My conversation with Grant Cardone.
00:00:03.000 Very popular financial mind, very successful as we talk about markets, real estate, investment, depreciation, and more.
00:00:10.000 Email us as always, freedom at charliekirk.com.
00:00:13.000 Listen to all of our episodes advertised or free by going to members.charliekirk.com.
00:00:17.000 That is members.charlikirk.com.
00:00:20.000 Buckle up, everybody.
00:00:20.000 Check it out right now.
00:00:21.000 Here we go.
00:00:22.000 Charlie, what you've done is incredible here.
00:00:24.000 Maybe Charlie Kirk is on the college campus.
00:00:26.000 I want you to know we are lucky to have Charlie Kirk.
00:00:29.000 Charlie Kirk's running the White House, folks.
00:00:33.000 I want to thank Charlie.
00:00:34.000 He's an incredible guy.
00:00:35.000 His spirit, his love of this country, he's done an amazing job building one of the most powerful youth organizations ever created.
00:00:42.000 Turning point USA.
00:00:43.000 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.
00:00:52.000 That's why we are here.
00:00:55.000 Noble Gold Investments is the official gold sponsor of the Charlie Kirk Show, a company that specializes in gold IRAs and physical delivery of precious metals.
00:01:05.000 Learn how you could protect your wealth with Noble Gold Investments at noblegoldinvestments.com.
00:01:12.000 That is noblegoldinvestments.com.
00:01:14.000 It's where I buy all of my gold.
00:01:16.000 Go to noblegoldinvestments.com.
00:01:20.000 All right, everybody, very special conversation with Grant Cardone.
00:01:24.000 Say that right?
00:01:25.000 Yes, sir.
00:01:26.000 You said it perfectly.
00:01:27.000 Welcome, man.
00:01:29.000 Good to be here.
00:01:30.000 You have a huge following, a lot of fans.
00:01:33.000 Not as many as you.
00:01:34.000 Well, it's very sweet.
00:01:36.000 I do think I have more enemies.
00:01:38.000 Well, I don't know, bro.
00:01:39.000 See, you don't know.
00:01:40.000 We can compare notes.
00:01:41.000 Okay, I mean, let's talk about hater wars.
00:01:44.000 We both have a fair amount of enemies, I think.
00:01:46.000 I want you just to tell your story.
00:01:48.000 It's a uniquely American story.
00:01:50.000 I love following your stuff on social.
00:01:51.000 It's always high energy.
00:01:52.000 It's about improving your life.
00:01:54.000 Tell us the Grant story.
00:01:55.000 Yeah, so I grew up raised by a single mother.
00:01:59.000 My dad died when I was 10 in Lake Charles, Louisiana, a refinery town.
00:02:04.000 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.
00:02:12.000 I didn't really fit either one of those.
00:02:14.000 Or you were going to be a fisherman out of Cameron, whatever.
00:02:17.000 So my dad died at 10, and my life, like, I was kept waiting, Charlie, for a male figure to show up.
00:02:23.000 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.
00:02:33.000 And that was the case for me.
00:02:34.000 I ended up on drugs when I was 15 years old.
00:02:37.000 Daily drug user for the next 10 years, black sheep of the family.
00:02:42.000 Grades went bad, like everything.
00:02:44.000 I just like my whole life was destroyed.
00:02:47.000 And so at 25, I went to Treatment Center for Drug Addiction, kicked the drugs.
00:02:51.000 I hadn't used drugs, thankfully, in 40 years.
00:02:54.000 Wow.
00:02:54.000 Yeah.
00:02:54.000 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.
00:03:06.000 And now you have an incredibly impressive portfolio, upwards of $4 billion.
00:03:10.000 Is that right?
00:03:11.000 That's right.
00:03:11.000 That's right.
00:03:12.000 How did that happen?
00:03:13.000 There's about, well, one deal at a time.
00:03:15.000 That's how it happened, you know.
00:03:16.000 So I bought a single family home when I was 28.
00:03:19.000 I didn't buy it to live in.
00:03:20.000 I bought it to rent it because I wanted the income.
00:03:23.000 Bought a second one 20 days later.
00:03:25.000 One of the tenants moved out.
00:03:27.000 Terrified me.
00:03:28.000 Sold the property.
00:03:30.000 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.
00:03:38.000 I didn't want to be a manager.
00:03:39.000 I didn't want to handle the tenants and the termites and the toilets.
00:03:42.000 I didn't want to do the evictions.
00:03:43.000 I just wanted the cash flow.
00:03:45.000 I wanted the tax write-offs.
00:03:47.000 The depreciation.
00:03:48.000 Yeah, the big D, vitamin D, which I believe will keep people healthier than anything.
00:03:53.000 Oh, that's funny.
00:03:54.000 And I wanted the appreciation, the long-term appreciation.
00:03:54.000 Yeah.
00:03:58.000 And so that was, I don't know, $4.5 billion ago.
00:04:01.000 We have 20 other companies I'm either a founder, CEO, or an investor in that are probably worth another $3 or $4 billion.
00:04:09.000 I mean, to me, it's like mind-boggling.
00:04:11.000 Like, because I know where I was, where I started.
00:04:15.000 I remember not being able to make my rental payments, you know, my $275 a month.
00:04:20.000 So, you know, you can come a long way in America if you stay focused.
00:04:25.000 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.
00:04:31.000 But what are some of the principles, the eternal principles that guided you to the success you have?
00:04:36.000 Well, I mean, the first thing for me was, you know, I had to clean up.
00:04:39.000 Like, if I wouldn't have cleaned up, I had to, like, I had to.
00:04:43.000 Sobriety.
00:04:44.000 Yeah, I had to quit using drugs.
00:04:46.000 I didn't have an alcohol problem.
00:04:47.000 I had a drug problem.
00:04:48.000 So I quit drinking because the drinking always led to the drugs.
00:04:52.000 I mean, at the end of the day, I had to change.
00:04:54.000 And probably the loss of my dad and being maybe marginally brighter than the other students I was going to school with.
00:05:04.000 School was a disaster for me, dude.
00:05:07.000 Like, we pulled our kids out of the school system because it was an effing disaster.
00:05:11.000 Every bad habit I've ever had, I learned in a school, in a classroom.
00:05:15.000 Name one.
00:05:16.000 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.
00:05:32.000 It didn't matter whether I got a B or C, nothing changed.
00:05:35.000 So, and then I spent five years in school, so I got the debt to go with it.
00:05:39.000 I wouldn't recommend no one ever spend 12 years in high school, much less another four or five in college.
00:05:45.000 And so you started getting into the real estate game.
00:05:47.000 What year was that?
00:05:48.000 That was, let's see, I was 28, so this is 50, what it 98?
00:05:53.000 Yeah, 95.
00:05:55.000 Yeah.
00:05:55.000 95.
00:05:56.000 And so you start building this, but you built it largely without leverage.
00:06:02.000 Is that right?
00:06:03.000 So I bought the first two houses with leverage.
00:06:05.000 Okay.
00:06:05.000 I guess this was 88.
00:06:07.000 Yeah, this is I'm 30 years old, so it's 88.
00:06:10.000 They did not work, and then in 1991, I would buy my first apartment building.
00:06:15.000 Wow.
00:06:16.000 With leverage.
00:06:17.000 Yeah, 100%.
00:06:18.000 Yeah, I love debt.
00:06:18.000 Okay.
00:06:20.000 I mean, you can't do debt.
00:06:23.000 You can't do deals.
00:06:23.000 You see, this is a little different than Mr. Ramsey.
00:06:27.000 Come on.
00:06:28.000 So what do you think about?
00:06:28.000 Because he's like, that's the worst thing ever.
00:06:30.000 Don't do that.
00:06:31.000 Dave's stuck in an incident that's long gone past, and he's still stuck in it.
00:06:38.000 It'd be like, like, Dave's like, he had a girlfriend.
00:06:41.000 It didn't go well, so he decided never to get married.
00:06:44.000 That's what he's doing with debt.
00:06:46.000 Okay.
00:06:46.000 He had one form of debt, and now he thinks all debt is equal, and it's not.
00:06:50.000 It'd be like saying I'm not trying to pick on Dave.
00:06:52.000 No, no, I'm not.
00:06:54.000 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.
00:07:00.000 I have no credit card debt.
00:07:01.000 I have no personal debt of my own.
00:07:03.000 Yes.
00:07:03.000 Zeros.
00:07:04.000 No, I totally agree with you.
00:07:05.000 Yeah, I know you do.
00:07:06.000 And so I own two homes.
00:07:07.000 I own nothing on them.
00:07:09.000 I own $4.5 billion worth of real estate.
00:07:12.000 I owe $2.2 billion on the real estate.
00:07:14.000 I'm not paying that debt.
00:07:16.000 And it comes with all these beautiful benefits that are just written by the congressman in this country.
00:07:22.000 Yes, you have $2 billion in debt, which means that you write off probably $400 million in interest.
00:07:28.000 I mean, that's...
00:07:29.000 Every year I write off without limitation, $80 million.
00:07:33.000 Just interest payments.
00:07:33.000 Interest, another $40 million in property taxes.
00:07:36.000 And then the depreciation is probably $500 to $600 million.
00:07:39.000 Yeah, probably.
00:07:40.000 I'm not trying to put you on this.
00:07:41.000 No, no, look, the IRS knows Charlie can know.
00:07:44.000 Yeah, okay.
00:07:44.000 Like people ask me financial questions, by the way, anybody giving anyone financial advice, they're telling you their own business.
00:07:49.000 Oh, I respect that.
00:07:50.000 Yeah.
00:07:51.000 Like, I would just tell your audience, so anybody's going to give you financial advice?
00:07:54.000 Show me what you own.
00:07:55.000 Show me your portfolio.
00:07:57.000 Show me how much gold you have.
00:07:58.000 If you're going to get gold advice, show me the gold.
00:08:00.000 Show me the silver.
00:08:01.000 Show me the Bitcoin.
00:08:03.000 If they won't show you, you shouldn't listen to them.
00:08:05.000 So every property, the beautiful thing about real estate, as you know, Charlie, is it's all recorded data, right?
00:08:10.000 Like, I can't really tell you how many books I've sold.
00:08:13.000 I don't know because nobody kept a record of the number of books I sold.
00:08:16.000 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.
00:08:28.000 I know what I paid.
00:08:28.000 It's a recorded event.
00:08:29.000 So you can't get tricked in real estate as easily.
00:08:32.000 So the story continued to grow.
00:08:35.000 And you...
00:08:37.000 Well, real estate wasn't the first money.
00:08:39.000 I was hustling.
00:08:40.000 I was basically, I worked for a car dealer.
00:08:42.000 I got out of a treatment center, and the only place I could get a job was as a car salesman.
00:08:48.000 And so I'm like, I took the job.
00:08:50.000 I didn't want the job.
00:08:51.000 I hated the job.
00:08:52.000 I had an accounting degree.
00:08:53.000 I'm like, what am I doing being a car salesman?
00:08:55.000 Dude, this is crazy.
00:08:55.000 I'm going backwards.
00:08:56.000 But it was my only choice.
00:08:58.000 So I decided I made a commitment back to these principles you're talking about.
00:09:02.000 I made a commitment to become great.
00:09:06.000 It's something that was disgusting.
00:09:08.000 And that has been a story of my life now for 40 years.
00:09:11.000 Like, if I don't like something, I'm going to learn how to get good at it.
00:09:14.000 Or I'm going to find somebody else that is exceptional.
00:09:17.000 The next thing you know, I'm a decent salesperson.
00:09:19.000 And I started looking at the problems with you going to a car dealer.
00:09:25.000 And the experience was so negative.
00:09:27.000 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.
00:09:34.000 And it became very successful.
00:09:36.000 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.
00:09:42.000 And so HVAC, solar, plumbing, chiropractic.
00:09:47.000 What's the hardest business you own?
00:09:48.000 Here's the way it usually works.
00:09:49.000 Let me guess.
00:09:50.000 There's one business that's 1% of your revenue and 99% of your problems.
00:09:54.000 Which one is that?
00:09:55.000 No, let me see.
00:09:57.000 Which one?
00:09:58.000 Look, the real estate is the best of all of them.
00:10:00.000 Okay.
00:10:00.000 There's no better business.
00:10:02.000 Is there one that's a disproportionate amount of headaches that doesn't necessarily bring home the yeah, probably the event business.
00:10:08.000 We do big events.
00:10:08.000 Yeah.
00:10:09.000 You know how hard.
00:10:10.000 We do events.
00:10:11.000 It's hard.
00:10:12.000 We don't have to make money on them because we're a nonprofit.
00:10:14.000 We just try to break even.
00:10:15.000 I don't know how you guys do it.
00:10:16.000 Yeah, I try to make money on everything.
00:10:18.000 I highly recommend this as a thesis.
00:10:21.000 Make money on everything, folks.
00:10:23.000 You deserve to.
00:10:23.000 You live in the greatest country in the world and you traded time for energy.
00:10:27.000 You had an idea, make money on it.
00:10:29.000 Like, why not?
00:10:30.000 But I get a lot of hate for that comment right there.
00:10:32.000 I agree with it completely.
00:10:34.000 He's all driven on the money thing.
00:10:36.000 No, you should be rewarded.
00:10:37.000 And you should be rewarded in a way that you consider to be whatever value is.
00:10:40.000 That's how you should be rewarded.
00:10:41.000 And if it's money, so be it.
00:10:44.000 So you think we're headed for a correction.
00:10:47.000 What do you mean by that?
00:10:48.000 Walk us through it.
00:10:50.000 I believe that we'll experience the greatest real estate correction in my lifetime, 65 years.
00:10:54.000 More than 08.
00:10:56.000 Oh, 100%.
00:10:56.000 So you're a 40 to 45% correction then.
00:10:59.000 But it will not be in housing.
00:11:01.000 It will not be in single-family housing.
00:11:02.000 It's an office.
00:11:03.000 It's going to be an office.
00:11:04.000 It's going to be in multifamily, these large complexes from Tempe to May 16.
00:11:07.000 Why are you buying them then?
00:11:08.000 Because I'm stealing them.
00:11:10.000 They're going down in value?
00:11:11.000 Dude, I'm stealing stuff right now.
00:11:13.000 Literally, I woke up this morning and said, please don't arrest me today.
00:11:16.000 Let me get away with this for another two years.
00:11:18.000 This is the biggest correction in my lifetime.
00:11:20.000 So you're saying the correction is already underway.
00:11:22.000 It's underway.
00:11:23.000 It's happening right now.
00:11:24.000 And the American public does not know what to look for because the American public is still trying to buy a house.
00:11:30.000 And you shouldn't be.
00:11:31.000 This is not a house moment.
00:11:32.000 This is a neighborhood community moment.
00:11:35.000 So the housing might go down 5% or 10%.
00:11:37.000 Maybe, maybe, and maybe it might not go down any.
00:11:40.000 I believe that when interesting.
00:11:41.000 I'm trying to agree with you.
00:11:42.000 Yeah.
00:11:43.000 That housing, I think, is actually more stable than people realize.
00:11:46.000 49% of all the homes in America, a renter's living in them, not an owner.
00:11:51.000 Most people don't know.
00:11:52.000 30%?
00:11:52.000 49%.
00:11:53.000 49%.
00:11:54.000 Yeah.
00:11:55.000 Okay.
00:11:55.000 90% of all the loans in America on single-family homes are below 5%, 90%.
00:12:02.000 40%.
00:12:03.000 50% remaining on their loan?
00:12:04.000 No, no, 90% of all the loans under a 5% interest rate.
00:12:07.000 Oh, they're locked in.
00:12:09.000 They're not.
00:12:09.000 Yeah, rates are 7.5% or 8%.
00:12:11.000 40% of all the loans on American homes today are under 3% interest.
00:12:16.000 There's no, there's on a 30-year mortgage.
00:12:18.000 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%.
00:12:35.000 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.
00:12:46.000 These are these big monsters.
00:12:48.000 Or insurance companies, yeah.
00:12:49.000 Yeah, or insurance companies.
00:12:50.000 They're big players.
00:12:51.000 Well, that debt is in massive trouble.
00:12:54.000 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.
00:13:03.000 And so what does that look like?
00:13:05.000 Looks like an opportunity for me.
00:13:07.000 So, but do you think that you're buying office buildings?
00:13:10.000 Do you think that they're going to come home eventually?
00:13:12.000 Yes, 100%.
00:13:14.000 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.
00:13:20.000 So, you don't think it's a permanent.
00:13:22.000 So, it's a phase.
00:13:23.000 Yeah, the only people that want to keep working from home are people that are home, barely working.
00:13:28.000 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.
00:13:34.000 Every one of them reversed.
00:13:35.000 There's not one man standing now that believes remote.
00:13:40.000 And Elon started it.
00:13:41.000 He stood up from the beginning.
00:13:43.000 That's not happening on my watch.
00:13:45.000 And we have two companies, three different locations with almost 1,000 employees.
00:13:52.000 The entire time, even through COVID, they were coming to work.
00:13:54.000 No, I think that's great.
00:13:56.000 And so you're looking at two places of opportunity.
00:13:59.000 Corrections underway.
00:14:00.000 Yeah.
00:14:00.000 So how much has, let's just say.
00:14:02.000 Nothing, nothing compared to what's going to happen.
00:14:04.000 Okay.
00:14:04.000 So you're still happy buying at the near top then if you think that there's a big correction.
00:14:10.000 No, we're already getting it.
00:14:11.000 Like we just bought, we bought a deal in Tampa last week.
00:14:16.000 What, 12 million?
00:14:17.000 You know, we're 12 million behind what they paid for it.
00:14:20.000 Oh, wow.
00:14:20.000 No, I'm stealing, man.
00:14:21.000 I'm telling you.
00:14:22.000 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.
00:14:34.000 People need to look at these big complexes that people have spent.
00:14:38.000 Like, why would I not build what you asked me right now?
00:14:40.000 Yeah, no, if that's safe.
00:14:42.000 Because they're going to build and they're going to spend $100 million and I'm going to buy it for $80 million.
00:14:46.000 And I didn't go through the stress of having to build.
00:14:51.000 Now, what's going to happen in this cycle, like 08, okay?
00:14:53.000 It'll be two or three or four years, 25, 26, 27.
00:14:58.000 All building will stop between now and 27.
00:15:02.000 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.
00:15:12.000 You seem really confident about that.
00:15:13.000 I am very confident.
00:15:14.000 Yeah, well, you're putting your money where your mouth is.
00:15:17.000 Yeah, exactly.
00:15:18.000 And I'm extremely conservative with money.
00:15:20.000 Like, I am the most frugal person you've ever met.
00:15:25.000 And so the regardless of what you see about me doing on Instagram.
00:15:28.000 No, no, no.
00:15:29.000 That's just attention getting stuff?
00:15:31.000 Totally.
00:15:32.000 I think it's great.
00:15:33.000 Yeah, yeah.
00:15:34.000 So the whole part where you say you buy helicopters to.
00:15:36.000 No, I bought a helicopter.
00:15:37.000 I bought two helicopters.
00:15:38.000 That wasn't the attention getting thing.
00:15:40.000 No, that was me trying to whack the IRS.
00:15:43.000 No, tell me about it.
00:15:44.000 I think this is fascinating.
00:15:45.000 Tell me about this.
00:15:45.000 Yeah, so I've done this before.
00:15:47.000 I mean, the first time I did this, I had a big tax bill, massive tax bill.
00:15:51.000 And look, I'm happy about it.
00:15:53.000 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.
00:16:01.000 And I'm like, oh, I got a tax issue in October.
00:16:04.000 And so I need to pay attention to this.
00:16:07.000 November comes.
00:16:08.000 I hadn't done anything about it.
00:16:09.000 December, I'm like, bro, I got a private jet tax problem.
00:16:15.000 So I went to my accounting guy and I said, hey, what can I do?
00:16:17.000 And he's like, nothing you can do about it.
00:16:19.000 So anytime I hear nothing you can do about it, I'm like, I know there's something I can do about it.
00:16:24.000 So I called Gulfstream up.
00:16:25.000 I don't own a jet at the time.
00:16:26.000 What year is this?
00:16:27.000 This is 20?
00:16:30.000 So before the heavy machinery deduction, 100%.
00:16:33.000 It was still on.
00:16:34.000 The 100% was still on.
00:16:36.000 So that was like 18 or 19.
00:16:37.000 Yeah, yeah.
00:16:38.000 Okay.
00:16:38.000 And I said, look, guys, I want to buy a Gulfstream.
00:16:41.000 You call up Savannah, Georgia, and you say, I want to buy a Gulfstream.
00:16:43.000 I want to buy a Gulfstream.
00:16:44.000 They don't know me.
00:16:44.000 I don't know them.
00:16:45.000 I had a little jet at the time, right?
00:16:48.000 So you get like an $80 million depreciation.
00:16:51.000 Yeah.
00:16:51.000 So I call them up and they say, we don't have a jet.
00:16:54.000 It literally has 14 days left in the month of December.
00:16:58.000 But you have to fly one business trip on that.
00:17:00.000 That's right.
00:17:01.000 One 20-minute flight.
00:17:02.000 You know what I'll do?
00:17:03.000 You looking for a jet?
00:17:04.000 No, of course not.
00:17:05.000 The only people that know this is people that are looking at jets.
00:17:08.000 I hang around a lot.
00:17:10.000 Okay, guys.
00:17:10.000 I've heard all of it.
00:17:11.000 I don't have Gulfstream money yet.
00:17:13.000 So maybe one day the show will get some place.
00:17:15.000 Guarantee you will.
00:17:16.000 Rush Limbaugh program and we'll have it.
00:17:18.000 So they said, we don't have a jet to sell you until next year.
00:17:21.000 We could deliver next year.
00:17:22.000 I said, okay, thank you.
00:17:24.000 I had my CEO find out what their routing numbers were for their wiring department.
00:17:28.000 We wired full amount for the jet.
00:17:31.000 I called the president back and said, look, check your accounting department.
00:17:35.000 He said, hold on a second.
00:17:36.000 What do you got, Grant?
00:17:36.000 What are you doing?
00:17:37.000 I said, look, just look, check.
00:17:38.000 He's like, God damn, nobody's ever done that.
00:17:40.000 So I wired the entire amount and they found me a jet.
00:17:43.000 That was the first year.
00:17:44.000 So I whacked the IRS up.
00:17:46.000 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?
00:17:55.000 5,000 pounds, 10,000 pounds, right?
00:17:58.000 Yes, definitely over 6,000 pounds.
00:18:03.000 Included jets, included RVs, included RVs, all the trucks, Range Rovers.
00:18:07.000 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.
00:18:13.000 And it's a second.
00:18:14.000 Yeah, but you write it off.
00:18:14.000 Like I bought it.
00:18:16.000 It's a full deduction.
00:18:17.000 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.
00:18:25.000 I mean, it's one of the greatest loopholes in the world.
00:18:28.000 The following year, we had another tax problem.
00:18:31.000 Okay, I continue to grow.
00:18:32.000 That was a good thing.
00:18:33.000 I'm growing, but all I got to do is read, just read and be committed.
00:18:37.000 And so we bought two Augusta 139s from, what, Pfizer?
00:18:44.000 Yeah, they were selling a lot of products.
00:18:46.000 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.
00:18:55.000 For those that don't know, Augusta is a helicopter.
00:18:58.000 Yeah, it's a helicopter.
00:18:59.000 It's a two-engine, unbelievable.
00:19:01.000 Yeah, it's an Italian company.
00:19:03.000 I think it's an Italian company, right?
00:19:04.000 Yeah, that's right.
00:19:05.000 So what other ways do you beat the, because you say you want to go broke twice a year.
00:19:10.000 That's your first time.
00:19:11.000 So what do you mean by that?
00:19:12.000 If I have money, I want to get rid of it.
00:19:14.000 I want to add assets.
00:19:15.000 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.
00:19:24.000 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.
00:19:35.000 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?
00:19:43.000 So I need something juicy.
00:19:46.000 Magnus.
00:19:46.000 See, like a house for the audience, it gets written off over 27 years.
00:19:51.000 So a $2,700,000 house for simplicity, you can write off $100,000 a year.
00:19:57.000 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.
00:20:05.000 And it would take me 27 years to do that with a house.
00:20:08.000 So do you own stocks, buying?
00:20:11.000 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.
00:20:24.000 It's taxes.
00:20:27.000 And it should be your desire and your goal to reduce your federal tax bill to zero or below, meaning refunds.
00:20:36.000 Now, paying me, I paid $40 million in property, local property taxes.
00:20:40.000 I don't mind paying those.
00:20:41.000 I don't like that.
00:20:41.000 You almost can't avoid those.
00:20:43.000 But I'm supporting my community.
00:20:45.000 I don't want to support the White House in a war.
00:20:48.000 Yes.
00:20:49.000 I'm not interested.
00:20:50.000 And for all of you that are against that, you need to figure out how to stop doing that because you're funding this.
00:20:55.000 No matter how you vote, you're funding the federal government.
00:20:58.000 What other deductions are popular for entrepreneurs to explore?
00:21:01.000 Trucks.
00:21:02.000 I bought a G wagon before the end of the year because it weighs 7,000 pounds.
00:21:06.000 Is it still 100% free machinery deduction even this year?
00:21:10.000 Or last year?
00:21:10.000 Yeah.
00:21:11.000 So I'm going to buy a car.
00:21:13.000 Okay, what car can I write off?
00:21:14.000 That's how I put it in.
00:21:16.000 I'm going to buy a belt.
00:21:17.000 All right.
00:21:17.000 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.
00:21:26.000 The shoes I have on, I would never buy these shoes.
00:21:29.000 They're $900.
00:21:31.000 Somebody gave them to me as a gift.
00:21:32.000 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.
00:21:37.000 Advertising, marketing.
00:21:39.000 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.
00:21:52.000 Yeah, you could phase it out and you could have, I mean, you could space it out and all that.
00:21:56.000 Yeah, yeah.
00:21:56.000 But you need cash to do that, right?
00:21:58.000 You need money to make that move.
00:22:00.000 It's better to invest than to give it to the internal revenue system.
00:22:03.000 It's better to invest than it is to spend.
00:22:04.000 Yeah, you're one of the few people I've heard that's actually isolated that problem.
00:22:07.000 Yeah.
00:22:07.000 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.
00:22:14.000 Where do you fall or in your portfolio if you're comfortable talking about it in stocks, bonds, mutual funds?
00:22:21.000 I have a little bit of Bitcoin.
00:22:23.000 I hate stocks.
00:22:24.000 Why don't you hang bonds?
00:22:26.000 I hate paper.
00:22:27.000 We made up one piece of paper.
00:22:29.000 They put In God We Trust on it.
00:22:32.000 Do you like gold then or no?
00:22:33.000 I hate gold.
00:22:34.000 Okay, but that's not paper.
00:22:34.000 Yeah, what is this?
00:22:35.000 That's a thing of silver from Noble Gold Investments.
00:22:37.000 I don't know what to do with it, dude.
00:22:38.000 I love Noble Gold Investments.
00:22:40.000 They're good dudes.
00:22:41.000 Yeah, no, I don't know.
00:22:41.000 You put it in your teeth.
00:22:42.000 I know they are.
00:22:44.000 But I don't know what to do with it.
00:22:46.000 Okay, so I like cash flow.
00:22:48.000 I like cash flow.
00:22:49.000 You like things that pay you back.
00:22:51.000 I want to be paid no more.
00:22:52.000 I want to do something.
00:22:53.000 Okay, let me play devil's advocate.
00:22:54.000 You got a stock that pays a dividend.
00:22:57.000 They only pay every quarter in most dividend stocks.
00:22:59.000 Apple pays a 0.01%.
00:23:01.000 Or like, okay, Campbell's Soup is like 5%.
00:23:03.000 But no, I hear you.
00:23:04.000 And I'm not even saying I'm not angry.
00:23:05.000 I'm with you.
00:23:06.000 I love conversation.
00:23:07.000 I love the dialogue.
00:23:10.000 As long as it's a friendly debate without defamation.
00:23:13.000 I got you.
00:23:14.000 Which we do want to talk about.
00:23:15.000 But no, what would somebody say, hey, dividends are the greatest thing ever?
00:23:18.000 You buy Campbell's Soup, they give you 4%.
00:23:20.000 Yeah, but those stocks don't typically do well.
00:23:23.000 No, that is true.
00:23:24.000 And there's a reason why they're offering you that dividend because they don't want you to sell the stock.
00:23:27.000 Exactly.
00:23:28.000 So, you know, but the great tech stocks.
00:23:31.000 Look, if you take the S ⁇ P 500 last year and you take seven stocks out, you have a loser.
00:23:36.000 Yeah, if you take out Amazon, Microsoft.
00:23:39.000 Take the big magical seven out, and they won't be magical forever.
00:23:43.000 My apartment buildings will be around longer than Google.
00:23:45.000 Google, Facebook, Microsoft, all those companies can get wiped out in any tech boom.
00:23:50.000 So you've tried to solve this problem, which I think is super unique.
00:23:54.000 You allow everyday people to invest into your deal, which I got to give you credit.
00:23:59.000 You have chutzpah, man.
00:24:01.000 Because you know, why do you say that?
00:24:02.000 You know the risk.
00:24:03.000 Well, yeah, I mean, I think about this stuff.
00:24:05.000 I mean, if you're going to take on, how many limited partners do you have?
00:24:08.000 10,000?
00:24:09.000 13,000 and growing.
00:24:10.000 I want it to be 130,000.
00:24:13.000 That's just one day.
00:24:15.000 How big is it?
00:24:16.000 Because it's the compliance department.
00:24:17.000 I mean, just to be able to feel that.
00:24:18.000 Because look, if I could distribute, we sent out 13,000 checks last month, $7 million.
00:24:23.000 November, we did the same thing.
00:24:25.000 October, the same thing.
00:24:26.000 September, the same thing.
00:24:27.000 Like, every month, we sent money out to people.
00:24:30.000 As a distribution.
00:24:31.000 As a distribution.
00:24:32.000 Okay.
00:24:32.000 Now, I'm a sales guy.
00:24:33.000 I've been selling.
00:24:34.000 I've been hustling people my whole life.
00:24:37.000 Hustling.
00:24:38.000 I got something to sell.
00:24:38.000 I got an idea.
00:24:39.000 Buy this, buy this, fund this.
00:24:40.000 But, you know, I've raised hundreds of millions of dollars for charity.
00:24:43.000 I don't like apologize about any of that.
00:24:45.000 I think that's very important for people to learn how to do.
00:24:47.000 But I am most proud that I send money back to people.
00:24:52.000 Like, this is you.
00:24:53.000 You made an investment with me.
00:24:55.000 These are life insurance quality real estate.
00:24:58.000 This is the best real estate people can invest in.
00:25:02.000 Blackstone, BlackRock, Goldman, J.P. Morgan, Allstate, MetLife.
00:25:06.000 I mean, these are the biggest, these are trillion-dollar companies that invest in these products.
00:25:10.000 So rather than them buying it, these wealthy institutions, mostly, yeah, wealthy institutions and country club money, I buy it, everyday guy.
00:25:20.000 And I do it amongst regular, everyday people.
00:25:23.000 I will not take money from the banks or the institutions.
00:25:27.000 Now, they've never offered me enough to tend to it.
00:25:29.000 Now, just so I'm clear, you said you have $2.2 billion in debt.
00:25:33.000 Is that issued from banks or is that...
00:25:34.000 Oh, yeah, that's long-term bank money, though.
00:25:37.000 This is fanny medicine.
00:25:38.000 So what do you mean you'll never take, you won't take investment money from banks?
00:25:40.000 Yeah, banks are heavily involved in the equity portion of the real estate.
00:25:45.000 You got it.
00:25:45.000 So you won't take them as limited partners.
00:25:48.000 Yeah, but again, I've said it's only because they've never offered me enough money.
00:25:51.000 If they came to me and said, hey, we'll give you a billion dollars in cash, I'd be like...
00:25:54.000 But you'll have them issue some debt, obviously.
00:25:57.000 And not that there's anything wrong with it, right?
00:25:59.000 Well, no, we would put long-term debt.
00:26:01.000 We would put long-term debt on our deals.
00:26:02.000 Okay.
00:26:03.000 Right now, in this cycle, we're not using banks or institutions for either the equity or the loan.
00:26:08.000 That's amazing.
00:26:09.000 Because the banks are not friendly right now.
00:26:11.000 The banking system is...
00:26:13.000 I think we have 300 bank failures in the next 24 months.
00:26:17.000 We have 300.
00:26:18.000 Wow.
00:26:19.000 And I think we have multiple pension funds that will fail as well.
00:26:23.000 And we will have institutional syndicators.
00:26:26.000 You're talking about a systemic collapse then.
00:26:28.000 I'm talking about something that the federal government will have to step in and lower rates back to zero again.
00:26:32.000 Yeah, which means inflation will go to 20 to 30 percent.
00:26:35.000 Whatever.
00:26:36.000 But you've got to save the system.
00:26:38.000 So, you know, the inflation thing, also, like, I don't think printing money is the cause of inflation, personally.
00:26:44.000 What is the cause of inflation?
00:26:45.000 People doing stupid with money.
00:26:48.000 So misallocation of resources.
00:26:49.000 I give you, look, you give me $1,400.
00:26:51.000 You give me a billion dollars.
00:26:54.000 I'm not going to go be stupid.
00:26:56.000 I'm going to pay what something's worth.
00:26:58.000 It doesn't matter how much money you give me.
00:27:00.000 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.
00:27:07.000 They sent out $1,400 checks to help people live.
00:27:10.000 And what did they do?
00:27:11.000 They went and bought shoes.
00:27:12.000 Luxury goods.
00:27:13.000 The wealthiest man on the planet was the Louis Vuitton guy from France.
00:27:17.000 It's crazy.
00:27:17.000 They didn't buy Gucci stock.
00:27:18.000 They bought Gucci's.
00:27:20.000 So anybody that did that, hey, inflation is caused by supply and demand.
00:27:24.000 It is not caused by the printing of money.
00:27:26.000 If you print money, the federal government prints money and fills this building up with money.
00:27:30.000 There was nothing happened.
00:27:31.000 Nothing changed.
00:27:31.000 No pricing changed.
00:27:32.000 They just did a print.
00:27:34.000 If they distribute that money to responsible people and we don't go overspend, we don't create inflation.
00:27:40.000 But when you give a billion dollars or $7 trillion out and people do stupid with it, well, guess what?
00:27:49.000 You're going to inflate everything.
00:27:50.000 Malinvestment.
00:27:52.000 Yeah.
00:27:52.000 So let's talk for a second here.
00:27:54.000 You recently had some pointed advice to Gen Z as to why they can't get ahead.
00:27:59.000 Yeah, what did I say?
00:27:59.000 I forget.
00:28:00.000 I write a lot of stuff.
00:28:01.000 So I don't know.
00:28:02.000 What did you say?
00:28:02.000 Well, I probably said go to work.
00:28:03.000 Because I read the headline and I just said Grant Cardone has advice for Gen Z.
00:28:08.000 It would be go to work.
00:28:09.000 Oh, by the way, those guys are a lot brighter than my generation.
00:28:13.000 Let me just say that.
00:28:14.000 You guys don't believe in homes and you're right.
00:28:16.000 Yahoo Finance.
00:28:16.000 Grant Cardone to Gen Z.
00:28:18.000 Yeah.
00:28:18.000 These money mistakes prevent you from getting rich.
00:28:20.000 Is that what you call an interview?
00:28:21.000 You just read headlines like most people.
00:28:23.000 Hey, I go a little, I go to the second paragraph.
00:28:25.000 Okay.
00:28:27.000 Things are more expensive.
00:28:29.000 College debt sucks.
00:28:30.000 Finding a job is hard, but that doesn't mean getting rich is impossible.
00:28:32.000 Let's talk about Gen Z. They'll say this: they'll say, Grant, love your story.
00:28:37.000 Love the ambition.
00:28:38.000 You're the outlier, not the rule.
00:28:39.000 I can't own anything.
00:28:40.000 I can't afford anything.
00:28:42.000 And I don't agree with them, but there's a sliver of truth.
00:28:46.000 It's harder to get in the game.
00:28:47.000 I agree with that.
00:28:48.000 I agree.
00:28:49.000 But let's just say what they do right.
00:28:50.000 First of all, they believe that people are working too hard and not getting paid anything for it.
00:28:55.000 I agree with that.
00:28:56.000 Okay.
00:28:57.000 They believe the house is a scam.
00:28:58.000 They watched their parents lose their homes in 2008.
00:29:01.000 Unfortunately, everybody's forgot about that.
00:29:03.000 Now they think that a house is a great deal.
00:29:05.000 They believe the banking system is a complete scam.
00:29:07.000 I agree with you guys on that.
00:29:09.000 They believe that college is a complete waste of time, and you guys are right on that.
00:29:12.000 I don't know where you're at on college.
00:29:13.000 There you go.
00:29:14.000 Complete scam.
00:29:15.000 And everybody should read that book right now.
00:29:16.000 I wrote the whole book, The College Scam.
00:29:18.000 I didn't go to college.
00:29:19.000 It is its biggest scam.
00:29:20.000 And I went, so I can attest to it.
00:29:22.000 Yep.
00:29:23.000 It is as big a scam that's ever been perpetuated on the American public.
00:29:27.000 That you have to go to college, particularly on black and brown communities that are told this is your only way up.
00:29:33.000 You have to go to college.
00:29:34.000 It's not true.
00:29:36.000 So that's Gen Z.
00:29:37.000 I think that's Gen Z. What age is that?
00:29:39.000 Gen Z's like 18 to 29.
00:29:41.000 Yeah, now the other thing is you guys can't all be influencers and make a living.
00:29:45.000 That's what you say here.
00:29:45.000 Allow social media to influence your spending.
00:29:47.000 Yeah, it's a stupid job to think you're going to be an influencer.
00:29:50.000 Everybody cannot be an influencer.
00:29:52.000 And you're just being a bit of a prostitute.
00:29:55.000 Yes.
00:29:55.000 Let's keep it real.
00:29:56.000 Like, it's just another form of, I'm an influencer, whatever that means.
00:30:00.000 You're going to get likes and followers.
00:30:01.000 You're not going to get money.
00:30:02.000 There's no money in most influencers.
00:30:05.000 So even the big influencers don't actually make any money.
00:30:09.000 So you also have, you have 10x, which is kind of your biggest thing.
00:30:12.000 10x is my brand.
00:30:12.000 Yeah.
00:30:13.000 Yes.
00:30:13.000 It's a book I wrote.
00:30:14.000 Riff on that.
00:30:14.000 The 10x rule.
00:30:15.000 It's a bigger thing.
00:30:16.000 It's like, okay, that generation of people.
00:30:19.000 Like, if you think you need to do one thing to get something accomplished, multiply it times 10.
00:30:25.000 And that's really what it's going to take.
00:30:26.000 If you think $10 is going to make you happy, multiply it times 10.
00:30:29.000 If you think a million is going to make you happy, multiply it times 10.
00:30:32.000 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.
00:30:38.000 And you have 10x Health as well.
00:30:40.000 Talk about that.
00:30:40.000 Yep.
00:30:41.000 It's a company we bought two years ago.
00:30:43.000 Gary Breck is our partner.
00:30:45.000 You might have seen him online.
00:30:46.000 And I was a customer.
00:30:49.000 I think at 62 years old, I got involved with it.
00:30:51.000 It helped me immensely.
00:30:53.000 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.
00:30:58.000 Yeah, and it's grown like wild.
00:31:00.000 Yeah.
00:31:01.000 Yeah.
00:31:02.000 So I want to end with some politics.
00:31:04.000 Okay.
00:31:06.000 Country's a mess.
00:31:07.000 Yep.
00:31:08.000 Where do you think you're a man of predictions?
00:31:10.000 Okay.
00:31:10.000 Of trends.
00:31:11.000 Where do you think this thing ends politically?
00:31:12.000 As you're kind of in, not really in politics, but you see things other people don't see.
00:31:17.000 Thank you.
00:31:18.000 So tell our audience, truthfully, if it's bad news, we want to hear it.
00:31:21.000 No, I don't think Joe runs.
00:31:24.000 Okay.
00:31:24.000 They pull him.
00:31:25.000 I think that's smart.
00:31:26.000 Yeah.
00:31:27.000 That he doesn't run.
00:31:27.000 No, I agree with you.
00:31:28.000 I think that he.
00:31:29.000 Yeah, I don't think he runs.
00:31:30.000 I've been saying this.
00:31:31.000 I don't think he's going to make it.
00:31:32.000 I don't think it's about making it.
00:31:33.000 I think he drops.
00:31:35.000 I think they move him out.
00:31:36.000 I don't really understand politics the way you do, but I think they pull him.
00:31:40.000 I actually think Michelle runs.
00:31:42.000 I think even with no experience or whatever she's hiding, she still gets 80 million votes without even a platform.
00:31:52.000 I think she's done everything based on what he did, what Barack did prior to.
00:31:56.000 She's checked every box.
00:31:58.000 She's come in public now.
00:31:59.000 She just did Shetty's show.
00:32:01.000 So she did a light show, I think, to give her coverage and see what the response is.
00:32:06.000 And I think she would be a problem for us.
00:32:10.000 I agree.
00:32:11.000 On the other side.
00:32:11.000 Yeah.
00:32:12.000 And so are you supportive of Trump?
00:32:14.000 Very much so.
00:32:15.000 Tell the audience why.
00:32:17.000 Look, I know him, and I know when.
00:32:20.000 He's an admirer of yours, too.
00:32:21.000 Yeah, thank you.
00:32:23.000 He's a good dude.
00:32:23.000 Yeah.
00:32:24.000 He's a good dude.
00:32:25.000 And, you know, when people that do know him know who he really is.
00:32:31.000 And I'm just, I'm a mass supporter.
00:32:34.000 I have for 40 years of my life wanted a non-politician to tell me the truth.
00:32:39.000 I don't care how you say it to me, by the way.
00:32:41.000 Don't water it down.
00:32:43.000 Don't change it.
00:32:44.000 Don't have anybody write your bullet.
00:32:45.000 Just give me like it is.
00:32:47.000 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.
00:32:53.000 I want the truth.
00:32:54.000 And I expect him, by the way, to be self-serving to some degree.
00:32:58.000 I am self-serving, but I don't hurt anybody around me.
00:33:02.000 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.
00:33:09.000 And I think that's what Donald Trump does.
00:33:11.000 We asked our audience to send in some questions because we mentioned you were coming on.
00:33:14.000 Somebody's wanted, they wonder about your daily routine.
00:33:17.000 Try to beat the sun up.
00:33:19.000 Okay.
00:33:19.000 I didn't do it today because I've been traveling.
00:33:21.000 I did three cities in the last day and a half.
00:33:23.000 How many days do you travel a year, do you think?
00:33:25.000 I don't know.
00:33:25.000 I don't know.
00:33:26.000 Last year, maybe, I don't know.
00:33:28.000 I don't know.
00:33:29.000 I don't travel a lot anymore.
00:33:30.000 Oh, okay.
00:33:31.000 We do massive amounts of work on that.
00:33:33.000 Do you try to beat up the sun?
00:33:34.000 Try to beat the sun up.
00:33:35.000 Try to eat good every day.
00:33:36.000 I spend time with my kids every single day.
00:33:39.000 And I'm a very active father.
00:33:40.000 We homeschool our kids.
00:33:41.000 Amazing.
00:33:42.000 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.
00:33:50.000 And so I pay attention to my money.
00:33:52.000 So you're in the office by 7.30, 8 a.m.?
00:33:54.000 No, probably 9.
00:33:54.000 Oh, okay.
00:33:55.000 We do a meeting every day.
00:33:55.000 9.
00:33:56.000 Sometimes I'm at that meeting, sometimes I'm not.
00:33:59.000 And then we get going.
00:33:59.000 Then I take whatever comes my way during the day.
00:34:02.000 And get home around.
00:34:04.000 Try to get to sleep at 9, 10 o'clock at night.
00:34:06.000 Try to stay away from too much political stuff.
00:34:08.000 Yeah, and fitness and health.
00:34:11.000 Where does that go?
00:34:11.000 I work out every day.
00:34:13.000 Every day.
00:34:13.000 Yeah.
00:34:14.000 So I do my best to work out every day.
00:34:16.000 My body needs it.
00:34:16.000 It likes it.
00:34:17.000 It wants it.
00:34:19.000 And then I fast probably until about 2 o'clock in the afternoon.
00:34:22.000 Oh, wow.
00:34:23.000 So big fasting window.
00:34:24.000 It doesn't feel like it's a big thing.
00:34:27.000 And then you've also...
00:34:29.000 I think people eat like, they just eat to eat.
00:34:32.000 Correct.
00:34:34.000 You know, fasting's amazing for you.
00:34:35.000 Yeah.
00:34:35.000 Yeah, the benefits are.
00:34:36.000 I used to do one day a week, every Monday, I would not eat that day.
00:34:40.000 And it was just a thing for me to trick myself into believing I had more discipline than I have.
00:34:46.000 Final advice, thoughts, things you want to plug?
00:34:50.000 Well, yeah, sure, man.
00:34:51.000 You guys need to fight harder.
00:34:53.000 Like that thing dropped today about this defamation suit.
00:34:56.000 Yeah, yeah.
00:34:57.000 Talk about that.
00:34:57.000 While I can't, you know, talk about exactly about the lawsuit itself.
00:35:02.000 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.
00:35:15.000 I can read the story if you'd like me to.
00:35:16.000 Is that helpful for you, Grant?
00:35:17.000 No, I mean, I'm just, I want to help you out here.
00:35:19.000 Whatever, go ahead.
00:35:20.000 It's New York Post.
00:35:21.000 Finance guru, Garant Cardone, slaps telecom big, John Legier with a $100 million defamation suit.
00:35:28.000 And it says here that he called you some bad stuff.
00:35:32.000 I'm not going to repeat it here on air.
00:35:34.000 It's not worthy of repetition.
00:35:37.000 And you're suing him for $100 million.
00:35:39.000 Yeah.
00:35:39.000 Yeah.
00:35:40.000 And it'll probably be worth more than that.
00:35:42.000 So, and what's happened, Charlie, is you know, by the way, there's, and this is just one guy.
00:35:48.000 I don't know what's going on with this cat.
00:35:49.000 He knows better.
00:35:51.000 He ran a $140 billion company that's based on brand and reputation.
00:35:57.000 Now, this has become very popular online with podcasters, clickbaiters, YouTubers, influencers.
00:36:04.000 They get to say whatever they want about whoever they want.
00:36:07.000 I know you are.
00:36:09.000 So, this fight is not just to protect my brand, my name, my reputation, and my businesses.
00:36:14.000 And there's been hundreds of millions of dollars in damages.
00:36:16.000 It's also provable damages.
00:36:18.000 Oh, I can 1,000% validate and prove.
00:36:22.000 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.
00:36:40.000 Like, none of this has research or due diligence, no package to back it.
00:36:44.000 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.
00:36:53.000 Okay, well, you don't have the right to defame or slander.
00:36:58.000 To knowingly defame.
00:37:00.000 That's right.
00:37:00.000 Particularly if you're a guy that ran a $140 billion publicly traded company.
00:37:06.000 That's right.
00:37:07.000 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.
00:37:20.000 I'm hoping I can do something good to put that to rest.
00:37:24.000 Well, I thank you for standing up against people that spread lies.
00:37:27.000 Yeah.
00:37:27.000 It's important because nobody's holding them accountable.
00:37:30.000 Well, Grant, great to have you here, man.
00:37:31.000 Thank you.
00:37:32.000 And you're expanding here in Arizona.
00:37:34.000 I love it.
00:37:34.000 I love seeing the expanded presence, and it's great to meet you, man.
00:37:38.000 Appreciate it.
00:37:38.000 God bless.
00:37:39.000 Thanks.
00:37:39.000 Thanks so much for listening, everybody.
00:37:40.000 Email us as always, freedom at charliekirk.com.
00:37:42.000 Thanks so much for listening, and God bless.
00:37:46.000 For more on many of these stories and news you can trust, go to CharlieKirk.com.