Dave Ramsey's Financial Comeback
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A story about how Dave Ramsey went from bankruptcy to building a massive financial empire.
"By his mid-twenties in the 1980s, Dave had a $4 million property portfolio in real estate that was generating about 5% cash return, making him around $250,000 a year. In 1988, his bank revoked his line of credit and demanded he pay it back. He couldn't sell fast enough, so he got foreclosed on and declared bankruptcy.
This was the trauma that shaped his 'no debt' philosophy. He hit rock bottom - had no money, his marriage was on the rocks, and he was even considering suicide. But he got back on his feet.
Fast forward to today, Dave's back in a big way. He now has a $600 million real estate portfolio that's fully paid off - pure equity, no debt. His media empire, Ramsey Solutions, which combines radio shows, financial courses, and training seminars, generates $300 million a year in revenue.
He built this empire teaching the same 7 steps for 30 years, running a biblically-based financial education media company. He has about 1,000 employees working at his campus in Franklin, Tennessee, where he owns all the real estate debt-free."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.