Madoff's 40-Year Fraud
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Sam Parr shares the story of Bernie Madoff's massive Ponzi scheme.
"Bernie Madoff ran a $58 billion Ponzi scheme and had been running it for 40 years. The equivalent would be like Jamie Dimon at JPMorgan. When he got arrested, I believe Madoff was the chairman of either the NASDAQ or maybe the SEC - it was his job to make sure fraud didn't exist.
When he got busted, it was this massive fraud of around $58 billion. He'd been doing this for 40 years. When they asked him why he kept going, he said 'Once I was in, I just couldn't back out. I was in.'"
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.