Rich Dudes│How Grant Cardone 10xed His Way To $600 Million
Grant Cardone is a real estate investor, entrepreneur, author, speaker, and sales trainer with a net worth of over $600 million. Find out how he made it and what he invests in.
Updated Mar 10, 2023
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Grant Cardone, the multi-millionaire who coined the "Cash is Trash" motto, is notorious for his ‘10X’ philosophy and successful investing. He owns various businesses, like Cardone Enterprises, Cardone Training Technologies, Cardone Group, and Cardone Acquisitions, and is also a reputed sales trainer, host of Grant Cardone TV, and founder of Cardone Sales University.
Grant Cardone is the founder and CEO of Cardone Capital, a real estate investment firm that manages over $4 billion worth of real estate.
His incredible wealth is an estimated $600 million, making him one of the wealthiest real estate investors in the U.S. But he didn't make all that money by throwing away his profits, rather he turned his "trash" into cold hard assets.
Today, we're bringing a bag full of insight into Cardone's net worth and what he did to make his money. We'll delve into his investments and golden nuggets of knowledge that have made him the mogul he is today.
Grant Cardone net worth at a glance
Net worth | $600 million |
Born | March 21, 1958 |
Nationality | American, born in Lake Charles, Louisiana. |
Became a millionaire at | 30 |
Occupations | Real estate investor, entrepreneur, author, Speaker, Sales trainer |
Sources of wealth | Cardone Capital, Cardone Enterprises, Cardone Real Estate Holdings, and the Cardone Group |
Asset classes | Real estate, private jet, helicopters, cars, and watches |
How Grant Cardone made his money
How Grant Cardone made his money
Grant Cardone is the fourth child of Curtis and Concetta Cardone and was born on March 21, 1958, in Lake Charles, Louisiana. When Cardone was only 10, his father passed away from a stroke, leaving his family to contend with poverty.
In high school, Cardone began using drugs and was often getting kicked out for being high. Despite this, he still promised his parents he would attend college and graduated from McNeese State University in 1981. He went into $40,000 of debt.
Grant started out as a car salesman and then decided to invest in real estate on the side. His first investment was a single-family property in Houston. After that, he acquired a multi-family complex in San Diego and continued to use his strategy to acquire more and more property over time.
By 2012, his company was said to have the largest private party acquisitions in Florida.
Grant Cardone has come a long way from his humble beginnings. Now, his companies reportedly own and control more than $2 billion worth of investment properties in the United States. He went from a car salesman to a millionaire in just five years, and he achieved this by investing in real estate and creating his own sales consulting business.
Over the years, Cardone has leveraged his personal brand to build a successful speaking and consulting career. He has developed a following of millions of fans through his books and speeches and has used this platform to promote his investments and products.
Grant Cardone Enterprises
Grant Cardone Enterprises is a Miami-based conglomerate of companies that helps businesses and individuals succeed financially. Founded by Grant Cardone, it’s a leading provider of financial empowerment solutions and educational opportunities for businesses and individuals.
It has 160 employees and its estimated annual revenue is currently $35 million. It has also seen a 54% increase in employee count over the past year.
The CTTI umbrella includes Cardone University, Cardone Capital, Grant Cardone Licensee, Cardone Automotive Resources, Grant Cardone TV, Cardone Advertising, Cardone Ventures, Grant Cardone Foundation, and 10X Events. The company provides a range of services including financial consulting, business development, investment advice, and educational seminars.
Grant Cardone Enterprises also provides sales and leadership training, products, and consulting services. Grant Cardone Enterprises offers a wide range of services, including sales training, consulting leadership training, marketing strategies, and business development.
Grant Cardone Enterprises has had tremendous success since its founding in 2012. The company has grown exponentially and its products and services have become popular worldwide. It’s estimated that Grant Cardone Enterprises has generates an annual $100 million in revenue.
Books
Grant Cardone makes up to $5 million annually from book royalties alone. His book The 10X Rule hit #1 on Amazon and Barnes and Noble, and made the Wall Street Journal’s and The New York Times bestseller lists with a retail price of $20 and a royalty rate of 5%, earning him $1 per book sold.
Grant Cardone makes up to $5 million annually from book royalties
Source: bossnetworth.com
Grant’s other books Sell or Be Sold, Be Obsessed or Be Average, and If You’re Not First, You’re Last have also been very successful, each selling millions of copies and with similar royalty deals attached.
Cardone University
Grant Cardone University is an online sales program created by famed salesperson and real estate mogul Grant Cardone. The program consists of a number of courses, covering everything from the basics of selling to more advanced concepts like handling objections and understanding the buyer.
It’s a comprehensive program, with a total of 830 courses covering different techniques and approaches to selling.
Grant Cardone University also teaches the art of event planning. This includes the annual 10X conference, a two-day event that brings together some of the world’s top salespeople and business leaders.
Tickets for the 10X conference range from $2,000 to $5,000. Grant and his team sold out the event, with a total of $5 million in ticket sales.
The conference was a huge success and revenue from Grant Cardone University is expected to keep growing. With the success of the conference, Grant and his team are now looking to expand with more courses, more speakers, and more events.
With a price tag of $10,000 and hundreds of sales professionals enrolling annually, Grant is poised to be making bank from this section of his business, too.
10X growth conference
Grant Cardone's 10X Growth Conference is one of the most successful business leadership conferences and has hosted some of the biggest names in the industry like Floyd Mayweather, Steve Harvey, Snoop Dogg, Tai Lopez, Lil Jon, and Rick Ross.
Cardone is one of the leading public speakers and has built a reputation for delivering powerful and inspiring talks.
Grant Cardone with Shark Tank star Daymond John at 10X Growth Conference.
Source: freshworks.com
Grant Cardone’s 10X Growth Conference held in Miami in 2019 was one of his most successful events. The conference sold out all 35,000 seats and made an estimated economic impact of $125 million on the surrounding area.
The conference was the result of Cardone’s 10X mindset, which focuses on setting daring and outrageous goals that require hard work and ambition to achieve.
Cardone planned the conference in 77 days with the help of his team and $1 million worth of billboard advertising. He committed to the event first and worked out the details later, yet sold over a third of the seats without disclosing the location, date, or speaker list.
With the success of the conference, Cardone opened himself up to a plethora of opportunities and collaboration. The 10X Growth Conference in Miami serves as another example of the true power of the 10X mindset Cardone preaches.
Grant Cardone charges fees to speak at an event starting at $200,000 and above for a live event and ranging between $100,000 to $200,000 for a virtual event. Grant Cardone is known for providing the most current, most relevant, and most effective online sales training courses and sales motivation available in the marketplace.
He’s able to connect with clients and move their organizations to another level by providing tips, strategies, and sales and marketing training. Booking Grant Cardone to speak is an investment in education, with the potential to electrify any cohort of likeminded entrepreneurs.
How Grant Cardone invests
How Grant Cardone invests
Grant Cardone is the founder and CEO of Cardone Capital, a real estate investment firm that manages over $4 billion in properties. Cardone also owns a Gulfstream G650ER private jet, two August 139 VVIP helicopters, and an impressive collection of cars and watches worth over $5 million.
Real estate – Cardone Capital
Grant Cardone had a passion for real estate from a young age. So when he was 29, he made a bold move and purchased a single-family home in Houston, which he used as a rental property.
But he wasn't done just yet. He took a huge leap of faith the following year by acquiring a 38-unit complex in San Diego with a $350,000 down payment. And so began his real estate empire.
Before long, Cardone Capital was managing over 1,000 apartments worth $58 million. Cardone began expanding his portfolio to include a number of high-end office and retail spaces, such as the Promenade Corporate Center in Scottsdale, Arizona. He even managed to acquire the asset for $40 million more than the asking price.
In 2016, Cardone Capital raised $935 million from over 11,500 investors, enabling Cardone to continue to grow his real estate portfolio to over 11,900 apartment units and 500,000 square feet of commercial office and retail space.
His success and ambition to provide everyday investors access to the same opportunities as the biggest players in the market have allowed Cardone to build an impressive real estate portfolio valued at over $4 billion.
Real estate
Grant Cardone purchased a $40 million vacation home in Malibu, California, in January 2022. The 9,500-square-foot home is located on Carbon Beach, near billionaires Larry Ellison and Jeffrey Katzenberg. It boasts a grassy lawn with a lap-lane swimming pool and stunning ocean views, as well as six bedrooms and ten bathrooms.
Grant Cardone's $40 million home on Malibu, California's Carbon Beach.
Source: bjtonline.com
Cardone previously lived in a lavish mansion on Sunset Strip in Los Angeles, which he sold in 2012 to Walmart heiress Sybil Robson Orr. He then moved to Florida for tax reasons and expanded his business there, eventually buying a $28 million mansion in Miami that had previously been owned by fashion designer Tommy Hilfiger. This is now his primary residence.
Private jets & helicopters
Grant Cardone is the proud owner of a Gulfstream G650ER, a $50 million private jet, purchased in 2020. Despite the hefty price tag, Grant was able to take advantage of 100% bonus depreciation in the first year of ownership, making the purchase more manageable.
The jet boasts a capacity of eighteen passengers with room for two crew members and a wingspan of 99 feet. The cabin is 8 feet in width and 46 feet in length. It also features two engines that allow for a maximum speed of 616 knots.
Grant Cardone has his name inscribed on his Gulfstream G650ER
Source: jetsetmag.com
On the inside, the jet is as luxurious as you would expect from a multi-millionaire. Soft tan carpeting, cream recliners, and a comfortable couch provide comfort and relaxation during the flight. Chanel throw pillows and Grant's own initials “GC” adorn the inside of the jet, making it truly unique.
Grant's journey from charter to private jet is an inspiring story of a man who values his time and resources. With the help of some clever tax planning, he was able to go from charter to the grandeur of a Gulfstream G650ER. Grant also owns two August 139 VVIP Helicopters.
Cars
Cardone owns an incredible collection of luxury cars. He splurged and purchased two exotic automobiles which can cost over $100,000 each. One of his most impressive rides is his $3.6 million LaFerrari.
The American businessman is a car enthusiast who owns one of the most expensive collections in the world featuring world-renowned luxury brands like Mercedes-Benz, Ferrari, McLaren, Rolls-Royce, and Bentley.
Grant Cardone owns several luxury cars from makes like Rolls Royce and Ferrari.
Source: mphclub.com
His collection consists of a 2017 Mercedes-Benz S 550, 2020 McLaren 600LT, 2019 Ferrari 488 Spider, 2021 Ferrari 812 Superfast, 2022 Rolls-Royce Cullinan, 2019 Bentley Mulsanne, and 2022 Rolls-Royce Phantom. The cars range from $180,000 to $650,000 each and feature powerful engines and transmissions that allow for incredible performance.
Cardone’s 2020 McLaren 600LT is priced at $256,500 and has a 3.8L twin turbo V8 engine coupled to a 7-speed automatic transmission that delivers 592 horsepower and 457 lb-ft of torque.
The 2019 Ferrari 488 Spider is priced at $284,700 and features a 3.9L twin turbo V8 engine and 7-speed automatic transmission that produces 660 horsepower and 560 lb-ft of torque.
Lastly, the 2022 Rolls-Royce Phantom is the most expensive car in Cardone’s collection, costing $650,000 and boasting a 6.75L turbocharged V12 engine and 8-speed automatic transmission that delivers 570 horsepower and 663 lb-ft of torque.
Watches
Grant Cardone is a man of many assets and investments, one of them being his watch collection. His watch investments also have a special meaning to him. He was first introduced to watches when he was working in the car business and everyone had a Rolex. He loves to buy watches as a form of self-expression, but he doesn’t view them as an investment, instead only buys them if he has surplus passive income.
He has a distinct style, and he likes watches that are larger and sporty, often in precious metals. His collection includes some of the most expensive watches around. He started his collection with a stainless steel two-tone Rolex Datejust 16233, which he bought for $800. He then bought a Roger Dubuis in Venice on his honeymoon for over $55,000.
His collection now includes several rose gold chronographs, including a Hublot limited edition for $400,000 and an Audemars Piguet Royal Oak Offshore for around $300,000. He also owns a Patek Philippe Nautilus 5980 and the 40th-anniversary limited edition Patek Philippe 5976 in white gold with a blue dial.
However, it’s important to note that Grant Cardone only buys watches with passive income and he doesn’t look at watches as an investment.
Grant Cardone Ventures
Grant Cardone Ventures is a venture capital firm founded by Grant Cardone, Elena Cardone, Brandon Dawson, and Natalie Workman. The firm focuses on investing in early-stage startups and providing them with the resources they need to become successful. It provides 360-degree business consulting for entrepreneurs to help them unlock their full potential.
One of the unique aspects of Grant Cardone Ventures is its focus on investing in startups that have the potential to disrupt traditional industries. Grant Cardone Ventures aims to bring innovation to industries that have been stagnant for too long by investing in innovative startups.
Grant Cardone speaking at a Cardone Ventures seminar.
Source: cardoneventures.com
In addition to providing funding, Grant Cardone Ventures also offers a range of resources to help startups grow and succeed like mentorship, networking opportunities, and access to a range of experts in various fields.
Through its operations, marketing, finance, and people-focused strategies, Cardone Ventures has achieved an estimated net worth of $50 million as of 2023 and has helped to support a range of startups across various industries.