1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:20,159 Speaker 1: Donald J. 7 00:00:20,239 --> 00:00:21,200 Speaker 2: Trump's leadership. 8 00:00:21,480 --> 00:00:25,079 Speaker 1: I'm Christy nom the United States Secretary of Homeland Security. 9 00:00:25,440 --> 00:00:29,200 Speaker 1: Under President Trump, attempted illegal border crossings are at the 10 00:00:29,240 --> 00:00:33,080 Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal 11 00:00:33,120 --> 00:00:36,920 Speaker 1: aliens have been arrested. If you are here illegally, your 12 00:00:37,040 --> 00:00:41,160 Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned, 13 00:00:41,479 --> 00:00:42,160 Speaker 1: and deported. 14 00:00:42,600 --> 00:00:43,800 Speaker 2: You will never return. 15 00:00:44,120 --> 00:00:47,120 Speaker 1: But if you register using our CBP home app and 16 00:00:47,240 --> 00:00:50,559 Speaker 1: leave now, you could be allowed to return legally. Do 17 00:00:50,680 --> 00:00:55,800 Speaker 1: what's right. Leave now. Under President Trump, America's laws, border 18 00:00:56,000 --> 00:00:57,840 Speaker 1: and families will be protected. 19 00:00:57,920 --> 00:01:07,679 Speaker 3: Sponsored by the United States Department of Homeland Security earners. 20 00:01:07,720 --> 00:01:08,200 Speaker 4: Listen up. 21 00:01:08,400 --> 00:01:10,760 Speaker 3: When people all around the world first started going out 22 00:01:10,760 --> 00:01:13,280 Speaker 3: protesting this summer, you'd hear it over and over. 23 00:01:13,880 --> 00:01:15,759 Speaker 4: This time is different. 24 00:01:15,720 --> 00:01:17,960 Speaker 3: But how and who are the people trying to make 25 00:01:18,000 --> 00:01:22,120 Speaker 3: it Different and Gimlet's new podcast, Resistance Posts SAYI T. 26 00:01:22,319 --> 00:01:23,279 Speaker 4: John Thomas Jr. 27 00:01:23,440 --> 00:01:25,480 Speaker 3: Brings us stories from the front lines of the movement 28 00:01:25,560 --> 00:01:28,639 Speaker 3: for Black lives, told by the generation fighting for the change. 29 00:01:29,000 --> 00:01:31,440 Speaker 3: It's a show about people refusing to accept things as 30 00:01:31,480 --> 00:01:33,680 Speaker 3: they are and how we can make sure this time 31 00:01:33,920 --> 00:01:37,360 Speaker 3: really is different. Resistance is out now, follow and listen 32 00:01:37,480 --> 00:01:43,800 Speaker 3: for free on Spotify. 33 00:01:44,760 --> 00:01:48,240 Speaker 5: My graduates from my school being forced. 34 00:01:48,080 --> 00:01:52,280 Speaker 3: Back drop Mike drop backdrop. 35 00:02:03,480 --> 00:02:06,880 Speaker 5: Today we're going to talk about appraisals right home appraisals, 36 00:02:06,880 --> 00:02:09,399 Speaker 5: and we're going to attack it from a different standpoint. 37 00:02:09,440 --> 00:02:11,160 Speaker 5: So I actually wrote a post about this on my 38 00:02:11,200 --> 00:02:14,040 Speaker 5: Instagram page a while back, if anybody follows me. So, 39 00:02:14,760 --> 00:02:17,680 Speaker 5: there was a recent study by the Bookings Institute in 40 00:02:17,760 --> 00:02:22,120 Speaker 5: Gallop which shows that homes and majority black neighborhoods are 41 00:02:22,200 --> 00:02:26,959 Speaker 5: undervalued during their pazel process by forty eight thousand dollars 42 00:02:27,000 --> 00:02:30,280 Speaker 5: per home, which amounts to one hundred and fifty six 43 00:02:30,360 --> 00:02:35,000 Speaker 5: billion dollars in cumulative losses nationwide. So what happens is 44 00:02:35,040 --> 00:02:38,799 Speaker 5: that they're saying that black homes are valued at twenty 45 00:02:38,840 --> 00:02:42,400 Speaker 5: three percent lower than the white counterparts. So obviously how 46 00:02:42,440 --> 00:02:45,200 Speaker 5: they do that is that they base it like the 47 00:02:45,200 --> 00:02:48,040 Speaker 5: same home. Right, so it has to be like three bedroom, 48 00:02:48,240 --> 00:02:51,119 Speaker 5: two bath home and a black neighborhood three bedroom, Yeah, 49 00:02:51,160 --> 00:02:53,600 Speaker 5: exactly comparable what we call in the real estate industry comparables. 50 00:02:53,639 --> 00:02:53,760 Speaker 4: Right. 51 00:02:53,760 --> 00:02:56,240 Speaker 5: So they're not going to compare a one bedroom apartment 52 00:02:56,240 --> 00:02:58,919 Speaker 5: to a mansion. They compare the same exact home, same 53 00:02:58,960 --> 00:03:00,480 Speaker 5: exact space, backyard, all of. 54 00:03:00,400 --> 00:03:02,240 Speaker 4: That stuff within the same zip code. 55 00:03:02,840 --> 00:03:06,880 Speaker 5: Right. So on average, the black home is value that 56 00:03:07,080 --> 00:03:11,000 Speaker 5: forty eight thousand less than the white home. So what 57 00:03:11,080 --> 00:03:14,280 Speaker 5: happens is that now it affects people in a lot 58 00:03:14,320 --> 00:03:17,280 Speaker 5: of different ways. Right. So now when you have less 59 00:03:18,480 --> 00:03:21,639 Speaker 5: value when you sell your home, right, you're getting less money, right, 60 00:03:21,720 --> 00:03:25,200 Speaker 5: You're also it lowers your net worth, Right, it lowers 61 00:03:25,400 --> 00:03:27,720 Speaker 5: your equity that you can borrow from because the value 62 00:03:27,720 --> 00:03:29,440 Speaker 5: of the home is less. So it's a lot of 63 00:03:29,480 --> 00:03:32,160 Speaker 5: negative effects for that. Right. So some people will say, okay, well, 64 00:03:32,600 --> 00:03:37,680 Speaker 5: the reason that the black homes and then black neighborhoods 65 00:03:37,720 --> 00:03:43,040 Speaker 5: are lower than white neighborhoods is because black neighborhoods, unfortunately, 66 00:03:43,080 --> 00:03:45,400 Speaker 5: a lot of times you have higher crime rates. It 67 00:03:45,680 --> 00:03:48,920 Speaker 5: sometimes maybe a longer commute, bad schools, So all of 68 00:03:48,960 --> 00:03:51,160 Speaker 5: that stuff plays a factor in the home value, right, 69 00:03:51,160 --> 00:03:54,480 Speaker 5: and that's true, But the studies showed that that only 70 00:03:54,480 --> 00:04:00,640 Speaker 5: accounts for actually half of the devaluation. So what happened 71 00:04:00,640 --> 00:04:02,520 Speaker 5: to the other seventy eight billion? Right, So that only 72 00:04:02,520 --> 00:04:05,080 Speaker 5: accounted for one seventy eight billion, But the other seventy 73 00:04:05,120 --> 00:04:07,520 Speaker 5: eight billion is not accounting for in all those other factors. 74 00:04:07,560 --> 00:04:10,400 Speaker 5: So this is what the study show, not me. So 75 00:04:11,200 --> 00:04:13,880 Speaker 5: the Booking Institute, the Gallop, they came to the conclusion 76 00:04:13,920 --> 00:04:18,040 Speaker 5: that the other seventy eight billion dollars in devaluation was 77 00:04:18,839 --> 00:04:21,280 Speaker 5: solely due to one thing. You know what that one 78 00:04:21,320 --> 00:04:24,359 Speaker 5: thing is, Go ahead, tell me racism. Right. They just 79 00:04:24,400 --> 00:04:28,719 Speaker 5: said that they just valued black homes lower. Right, when 80 00:04:28,720 --> 00:04:31,760 Speaker 5: appraiser comes, he just looks at a black home as 81 00:04:31,800 --> 00:04:35,160 Speaker 5: being worse less than a white home. It's just that's 82 00:04:35,200 --> 00:04:37,360 Speaker 5: what it is. That's what that's what it accounted for. Right. 83 00:04:37,720 --> 00:04:42,280 Speaker 5: So this is a troubling statistic, right, for a lot 84 00:04:42,279 --> 00:04:46,280 Speaker 5: of different reasons. But the main reason is that, you know, 85 00:04:46,800 --> 00:04:48,560 Speaker 5: one of the things that you know, you always taught 86 00:04:48,600 --> 00:04:51,919 Speaker 5: in America is that you do good you buy a home. 87 00:04:52,080 --> 00:04:53,960 Speaker 5: You know, that's like the number one way to preserve 88 00:04:54,000 --> 00:04:56,000 Speaker 5: wealth for your family, do the right things, and you 89 00:04:56,000 --> 00:05:00,000 Speaker 5: can sell your home. But now, ay, it's already discriminory, 90 00:05:00,120 --> 00:05:03,080 Speaker 5: discriminatory practices and actually buying a home, right dude, that's 91 00:05:03,080 --> 00:05:06,159 Speaker 5: been proven. And now even if you do buy the home, 92 00:05:07,040 --> 00:05:10,560 Speaker 5: it's devalued just because you live in it. Right. So 93 00:05:11,279 --> 00:05:14,560 Speaker 5: it was interesting when I wrote that story because a 94 00:05:14,600 --> 00:05:17,520 Speaker 5: lot of people were going back and forth like, well, 95 00:05:17,560 --> 00:05:20,920 Speaker 5: I don't believe that. It's like, you know, a lot 96 00:05:20,920 --> 00:05:24,200 Speaker 5: of people don't believe that racism is actually real thing. 97 00:05:24,240 --> 00:05:25,760 Speaker 5: But the thing about it is that it doesn't even 98 00:05:25,760 --> 00:05:28,800 Speaker 5: affect people just in black neighborhood. They can affect white 99 00:05:28,839 --> 00:05:33,360 Speaker 5: a black family living in a white neighborhood. Right. So, 100 00:05:33,920 --> 00:05:36,000 Speaker 5: as I said, so, a lot of times people were saying, like, 101 00:05:36,080 --> 00:05:38,320 Speaker 5: this is just made up. I don't believe it. So 102 00:05:38,520 --> 00:05:44,200 Speaker 5: now being that we have a personal story to confirm it, 103 00:05:45,480 --> 00:05:46,679 Speaker 5: you're going to go into your story. 104 00:05:46,839 --> 00:05:47,039 Speaker 4: Yeah. 105 00:05:47,120 --> 00:05:48,839 Speaker 3: You know what, when you wrote the article and I 106 00:05:48,880 --> 00:05:50,680 Speaker 3: had no idea you were writing an article, I thought 107 00:05:50,800 --> 00:05:53,480 Speaker 3: you were writing it about me. I honestly were like, yo, 108 00:05:53,680 --> 00:05:54,960 Speaker 3: this guy just wrote my story. 109 00:05:55,000 --> 00:05:55,600 Speaker 4: And I called you. 110 00:05:55,640 --> 00:05:58,160 Speaker 3: I'm like you serious, and you're like, nah, this is 111 00:05:58,200 --> 00:06:02,039 Speaker 3: like factuals to the evidence and I'm like, oh wow, 112 00:06:02,120 --> 00:06:03,080 Speaker 3: this is really happening. 113 00:06:03,120 --> 00:06:07,680 Speaker 4: So two years ago, almost about two years ago, I 114 00:06:07,760 --> 00:06:08,040 Speaker 4: was in. 115 00:06:08,000 --> 00:06:11,440 Speaker 3: The process of buying a home and that comes, let's 116 00:06:11,480 --> 00:06:14,000 Speaker 3: go back. I wasn't going to be in the process 117 00:06:14,040 --> 00:06:16,120 Speaker 3: if it wasn't for you. And that was part of 118 00:06:16,160 --> 00:06:20,160 Speaker 3: the early leisure conversation. My family was about to move 119 00:06:20,240 --> 00:06:22,240 Speaker 3: and you were like, hey, why don't you go. 120 00:06:22,200 --> 00:06:22,839 Speaker 4: In and buy a home? 121 00:06:22,920 --> 00:06:24,760 Speaker 3: And I was like, I had not getten any thought. 122 00:06:24,800 --> 00:06:27,360 Speaker 3: I'm like, you know what, maybe maybe you was shot out, 123 00:06:27,440 --> 00:06:30,400 Speaker 3: maybe I should do this. So you sparked that in 124 00:06:30,440 --> 00:06:32,800 Speaker 3: my mind, I'm like, all right, Well, I presented the 125 00:06:32,880 --> 00:06:35,400 Speaker 3: proposal to my family and they were like, let's do this. 126 00:06:35,760 --> 00:06:37,320 Speaker 4: And one of the things we had to do was 127 00:06:37,360 --> 00:06:38,200 Speaker 4: get the house of Praise. 128 00:06:39,040 --> 00:06:43,919 Speaker 3: Now, my family bought the home in twenty ten, and 129 00:06:44,800 --> 00:06:48,360 Speaker 3: the house was valued at five hundred and seventy five thousand. 130 00:06:48,520 --> 00:06:50,800 Speaker 3: That's what it was valued at. We bought it for 131 00:06:50,839 --> 00:06:54,679 Speaker 3: five hundred and twenty five thousand. That was a purchase 132 00:06:54,680 --> 00:06:59,159 Speaker 3: price in twenty ten. Long story short, part of my 133 00:06:59,200 --> 00:07:01,279 Speaker 3: family wanted to move moved to another area, so I 134 00:07:01,320 --> 00:07:04,360 Speaker 3: came in and went in on a deal with my 135 00:07:04,800 --> 00:07:09,039 Speaker 3: father and we got the house and the process of 136 00:07:09,160 --> 00:07:13,400 Speaker 3: appraisal was an alarming one because when he the appraisal 137 00:07:13,560 --> 00:07:15,600 Speaker 3: I won't say his name, we're actually still in there. 138 00:07:15,840 --> 00:07:17,960 Speaker 4: We wrote a Consumer Reports review about it. 139 00:07:18,760 --> 00:07:23,080 Speaker 3: The appraisal man came in and said that the house 140 00:07:23,120 --> 00:07:26,520 Speaker 3: had devalued. Now we have added things to the home, 141 00:07:26,920 --> 00:07:29,880 Speaker 3: you know, the typical things obviously stand still, furniture, I 142 00:07:29,880 --> 00:07:32,520 Speaker 3: mean stay in still, appliances, would floors, all all the 143 00:07:32,560 --> 00:07:35,040 Speaker 3: things that you would add to, you know, increase value 144 00:07:35,080 --> 00:07:38,320 Speaker 3: in your home. And in the eight year, eight year period, 145 00:07:38,520 --> 00:07:41,880 Speaker 3: the house went from being purchased at five hundred and 146 00:07:41,880 --> 00:07:45,160 Speaker 3: twenty five thousand to now being five hundred and ten thousand. 147 00:07:45,440 --> 00:07:47,840 Speaker 5: So all right, so you bought a house in New York, 148 00:07:48,400 --> 00:07:50,720 Speaker 5: in the suburbs of New York west Chester, which is 149 00:07:50,720 --> 00:07:53,880 Speaker 5: anybody's not familiar. It's affluent, prey affluent neighborhood. 150 00:07:53,480 --> 00:07:54,320 Speaker 4: White plans in New York. 151 00:07:54,440 --> 00:07:57,480 Speaker 5: Okay, so you buy a house for five hundred and. 152 00:07:58,040 --> 00:08:02,040 Speaker 3: How much five hundred and twenty five thousand, ten Yeah, 153 00:08:02,360 --> 00:08:04,960 Speaker 3: seven years where there is no market correction. 154 00:08:05,400 --> 00:08:07,760 Speaker 5: Real estate has only gone up in New York and 155 00:08:07,800 --> 00:08:10,200 Speaker 5: across America as a whole. 156 00:08:10,200 --> 00:08:12,280 Speaker 4: But definitely and especially in this neighborhood. 157 00:08:12,440 --> 00:08:15,200 Speaker 5: Okay, you made improvements, you made improvements to the home, 158 00:08:16,200 --> 00:08:20,120 Speaker 5: and he said that the home was devalued by fifteen thousand. 159 00:08:20,200 --> 00:08:21,040 Speaker 4: Fifteen thousand. 160 00:08:21,120 --> 00:08:23,120 Speaker 3: Yeah, so like when you look at that, it's like, 161 00:08:23,120 --> 00:08:25,280 Speaker 3: oh wait, that's kind of crazy. But then you look 162 00:08:25,320 --> 00:08:29,280 Speaker 3: at the comparables because that's part of the appraisal process too. 163 00:08:29,760 --> 00:08:32,640 Speaker 3: So I looked at the comparables. Six hundred, six hundred 164 00:08:32,640 --> 00:08:36,720 Speaker 3: and fifty six hundred eighteen. We had an offer on 165 00:08:36,720 --> 00:08:38,840 Speaker 3: the table, like my brother was going to sell the 166 00:08:38,840 --> 00:08:41,280 Speaker 3: house before I stepped in, and the offer was for 167 00:08:41,320 --> 00:08:44,240 Speaker 3: six hundred, six hundred thousand, and you got to praise 168 00:08:44,320 --> 00:08:46,840 Speaker 3: at fifty five hundred and ten thousand. 169 00:08:47,960 --> 00:08:49,720 Speaker 5: And what do your neighbors look like? 170 00:08:51,559 --> 00:08:56,199 Speaker 4: My neighbors are from a different ethnic background, but ethnic background. 171 00:08:56,920 --> 00:09:01,640 Speaker 3: We have Hispanic neighbors, we have neighbors, we have a 172 00:09:01,679 --> 00:09:04,160 Speaker 3: few black neighbors down the street. 173 00:09:04,320 --> 00:09:06,520 Speaker 5: The majority of people in your neighborhood, what are white? 174 00:09:06,679 --> 00:09:07,440 Speaker 4: Majority of them? 175 00:09:07,480 --> 00:09:11,160 Speaker 5: Okay, yeah, so the comparables in the neighborhood is six 176 00:09:11,240 --> 00:09:12,040 Speaker 5: hundred thousand. 177 00:09:11,800 --> 00:09:16,640 Speaker 3: Six hundred plus at least. So the deal was time sensitive. 178 00:09:16,840 --> 00:09:20,160 Speaker 3: So not only did I was like blown away by 179 00:09:19,960 --> 00:09:21,320 Speaker 3: the number that came back. 180 00:09:21,800 --> 00:09:24,760 Speaker 4: I knew that we had to react fast because there was. 181 00:09:24,760 --> 00:09:26,400 Speaker 3: A lot of dominoes that were going to fall if 182 00:09:26,400 --> 00:09:28,559 Speaker 3: we didn't get this done. So he came in and 183 00:09:28,840 --> 00:09:31,280 Speaker 3: gave us a five hundred and ten thousand appraisal. But 184 00:09:31,360 --> 00:09:32,960 Speaker 3: on top of it, I had to pay him eight 185 00:09:33,080 --> 00:09:35,800 Speaker 3: hundred dollars to him to do that, so like, not 186 00:09:35,840 --> 00:09:38,200 Speaker 3: only was it in justice in a disservice, but I 187 00:09:38,240 --> 00:09:39,880 Speaker 3: had to pay him out of my pocket to say 188 00:09:39,920 --> 00:09:42,760 Speaker 3: thank you. He came in, he was here for maybe 189 00:09:43,160 --> 00:09:46,439 Speaker 3: ten minutes and left and that was the last time 190 00:09:46,480 --> 00:09:49,360 Speaker 3: I saw him until I had to, you know, get 191 00:09:49,360 --> 00:09:51,680 Speaker 3: in contact with him, like how did this happen? And 192 00:09:51,760 --> 00:09:55,640 Speaker 3: you know, his explanation was pretty much, you don't have 193 00:09:55,960 --> 00:09:59,240 Speaker 3: the size of the backyard as the comparables. So I 194 00:09:59,280 --> 00:10:01,160 Speaker 3: was like, no, this is this is impossible. I literal 195 00:10:01,240 --> 00:10:03,040 Speaker 3: drove around the neighborhood to the comparables. I'm like, no, 196 00:10:03,120 --> 00:10:08,199 Speaker 3: this is no way. And being that the process of 197 00:10:08,240 --> 00:10:10,520 Speaker 3: getting the house was time sensitive, I just had to say, 198 00:10:10,559 --> 00:10:12,880 Speaker 3: you know what, I'm just gonna have to take this 199 00:10:12,920 --> 00:10:14,760 Speaker 3: one and then we'll deal with this at a later time. 200 00:10:14,760 --> 00:10:16,720 Speaker 3: My mortgage broker at the time was like, you know, 201 00:10:16,840 --> 00:10:19,520 Speaker 3: I don't believe this. This is crazy, but at a 202 00:10:19,600 --> 00:10:22,360 Speaker 3: certain extent, you're at the bank's mercy, right, Like they're 203 00:10:22,360 --> 00:10:24,680 Speaker 3: the one that's approven you for the loan. They send 204 00:10:24,679 --> 00:10:27,240 Speaker 3: their appraisal, the person that do the appraisal, so it's like, 205 00:10:27,280 --> 00:10:27,719 Speaker 3: what do you do? 206 00:10:28,120 --> 00:10:30,360 Speaker 5: So at that point in time, he took ninety thousand 207 00:10:30,640 --> 00:10:35,040 Speaker 5: off the table, oh, wealth right from your family pretty much? 208 00:10:35,480 --> 00:10:35,680 Speaker 4: Yeah? 209 00:10:35,720 --> 00:10:36,920 Speaker 5: Wait, just his opinion. 210 00:10:37,040 --> 00:10:38,760 Speaker 4: Yeah, And that's the thing. 211 00:10:38,800 --> 00:10:40,880 Speaker 3: It's like a lot of people don't get to this 212 00:10:41,000 --> 00:10:43,559 Speaker 3: level to even see this type of discrimination, right because 213 00:10:43,559 --> 00:10:46,319 Speaker 3: how many people are in the position to even get 214 00:10:46,320 --> 00:10:48,400 Speaker 3: a home, you know what I mean. And it's like 215 00:10:49,559 --> 00:10:51,560 Speaker 3: I can tell this story, but it's like who else 216 00:10:51,559 --> 00:10:53,760 Speaker 3: can relate to this? Because, like I said, when you 217 00:10:53,760 --> 00:10:55,720 Speaker 3: wrote it, I was like, wait, you're writing my story 218 00:10:55,800 --> 00:10:59,079 Speaker 3: and You're like no, this is happening everywhere, and I'm like, oh, oh, 219 00:10:59,160 --> 00:11:02,040 Speaker 3: now I have to take so I have taken some access, 220 00:11:02,040 --> 00:11:03,199 Speaker 3: and it's still. 221 00:11:03,120 --> 00:11:05,480 Speaker 5: You know, what's crazy. Somebody said on my Instagram that 222 00:11:06,559 --> 00:11:08,120 Speaker 5: she told the story. I don't know for sure or not, 223 00:11:08,120 --> 00:11:09,960 Speaker 5: but I'm gonna give her the benefit down say it's true. 224 00:11:10,080 --> 00:11:12,160 Speaker 5: So she said that She had a home of praise 225 00:11:12,320 --> 00:11:16,559 Speaker 5: three times and each time, let's say it was three 226 00:11:16,640 --> 00:11:19,000 Speaker 5: hundred thousands roughly, I forget the number, but let's say 227 00:11:19,000 --> 00:11:21,280 Speaker 5: three hundred thousand. It was like solid three hundred thousands, 228 00:11:21,280 --> 00:11:24,080 Speaker 5: three times in a row. She had her white neighbor 229 00:11:24,160 --> 00:11:26,960 Speaker 5: come for the fourth appraisal. She took down all the 230 00:11:27,000 --> 00:11:30,320 Speaker 5: pictures and the white neighbor answered the door. Long story short, 231 00:11:30,360 --> 00:11:32,120 Speaker 5: the praiser thought that it was a white neighbor's home. 232 00:11:32,480 --> 00:11:34,880 Speaker 5: You know how much it was a praise for four 233 00:11:34,960 --> 00:11:38,199 Speaker 5: hundred I think like four to ten one hundred and 234 00:11:38,240 --> 00:11:41,160 Speaker 5: ten thousand dollars more, just on an opinion because he 235 00:11:41,160 --> 00:11:41,840 Speaker 5: saw a white person. 236 00:11:41,920 --> 00:12:00,880 Speaker 4: Yeah, it happens. 237 00:12:01,240 --> 00:12:04,240 Speaker 3: Look, I'm like, we're literally and I lived it and 238 00:12:04,280 --> 00:12:06,000 Speaker 3: I'm still living in it, and it's like wow, And 239 00:12:06,080 --> 00:12:07,720 Speaker 3: I try to get that message out like yo, this 240 00:12:07,800 --> 00:12:10,000 Speaker 3: is happening. But like I said, like who can relate 241 00:12:10,040 --> 00:12:12,559 Speaker 3: to it? Like a lot of my peers are you know, 242 00:12:12,720 --> 00:12:15,559 Speaker 3: are renting and they're not in the process of owning 243 00:12:15,559 --> 00:12:18,160 Speaker 3: a home yet and they will be. But it's like, oh, 244 00:12:18,160 --> 00:12:20,719 Speaker 3: this is how how is this possible? So like what 245 00:12:20,720 --> 00:12:24,360 Speaker 3: would be the answer to eliminate that? Like you know 246 00:12:24,360 --> 00:12:25,920 Speaker 3: what I mean, Like we have to get our own 247 00:12:25,960 --> 00:12:30,559 Speaker 3: independent appraiser. Yeah, but that independent appraiser doesn't necessarily work 248 00:12:30,600 --> 00:12:33,080 Speaker 3: for the bank who's giving you the loan, so it's 249 00:12:33,120 --> 00:12:33,839 Speaker 3: like what do you do? 250 00:12:35,320 --> 00:12:38,040 Speaker 5: Yeah, it was an interesting discussion on my Instagram pagecause 251 00:12:38,040 --> 00:12:39,800 Speaker 5: then some appraisers came in. It was actually hoping to 252 00:12:39,800 --> 00:12:41,440 Speaker 5: get somebody in the praiser to come in as a guest, 253 00:12:41,440 --> 00:12:45,720 Speaker 5: but we wasn't able to. But yeah, yeah, it's a 254 00:12:46,559 --> 00:12:49,120 Speaker 5: I don't know, it's an unfortunate situation that it's just 255 00:12:49,120 --> 00:12:51,320 Speaker 5: stuff like that people don't even aren't really even thinking 256 00:12:51,320 --> 00:12:53,640 Speaker 5: about right now. You had about like the hardcore racism stuff, 257 00:12:53,640 --> 00:12:57,800 Speaker 5: but little stuff like that that's real wealth. So you're ninety, 258 00:12:57,840 --> 00:13:00,360 Speaker 5: so your situation was ninety thousand dollars right now, you 259 00:13:00,360 --> 00:13:02,600 Speaker 5: can see how when hit about one hundred and fifty 260 00:13:02,640 --> 00:13:05,560 Speaker 5: six billion, Like that's a large number, but how many 261 00:13:05,600 --> 00:13:08,120 Speaker 5: people are like you ninety thousand here, one hundred thousand here, 262 00:13:08,320 --> 00:13:11,720 Speaker 5: thirty thousands up? Yeahs up, all. 263 00:13:11,679 --> 00:13:14,319 Speaker 4: Right, And like you said, like that's part of that generational. 264 00:13:13,840 --> 00:13:17,720 Speaker 5: Wealth and that's not even a black neighborhood right right. 265 00:13:18,120 --> 00:13:20,200 Speaker 3: It just was that, Hey, they saw the family that 266 00:13:20,280 --> 00:13:22,640 Speaker 3: was here, and this is what we're saying it is, 267 00:13:22,840 --> 00:13:25,440 Speaker 3: and take it or leave it. And if you leave it, 268 00:13:25,480 --> 00:13:27,240 Speaker 3: then you're not going to get this ome because we're 269 00:13:27,280 --> 00:13:28,040 Speaker 3: not approving you for this. 270 00:13:28,120 --> 00:13:28,240 Speaker 4: Mom. 271 00:13:30,679 --> 00:13:35,600 Speaker 5: Yep, well yeah, the game is rigged, all right, boys 272 00:13:35,640 --> 00:13:40,840 Speaker 5: and girls. So now is my favorite part of the show. Storytime. 273 00:13:41,240 --> 00:13:41,600 Speaker 4: All right. 274 00:13:41,640 --> 00:13:44,480 Speaker 3: So this, this story actually starts as a lesson plan. 275 00:13:45,000 --> 00:13:46,720 Speaker 3: And one of the weird things we do in the 276 00:13:46,720 --> 00:13:50,679 Speaker 3: summer is teach financial literacy. And I was listening to 277 00:13:50,720 --> 00:13:53,720 Speaker 3: Reasonable Doubt that President's tool was on and I heard 278 00:13:54,000 --> 00:13:57,080 Speaker 3: the line all black Scott is sports and entertainment until 279 00:13:57,080 --> 00:13:59,320 Speaker 3: we even and it just stuck with me, and I 280 00:13:59,400 --> 00:14:02,080 Speaker 3: was like, damn is this true? Like is Jay right? 281 00:14:02,160 --> 00:14:03,760 Speaker 3: Like is he right when he says that? Like what 282 00:14:03,760 --> 00:14:07,239 Speaker 3: does that even mean? And I started thinking about success 283 00:14:07,520 --> 00:14:10,600 Speaker 3: and what images we think of when we think of success, 284 00:14:10,640 --> 00:14:14,040 Speaker 3: and over and over I kept saying, Wow, yeah, entertainment, 285 00:14:14,200 --> 00:14:14,800 Speaker 3: Damn yep. 286 00:14:15,040 --> 00:14:16,400 Speaker 4: Sports. Okay. 287 00:14:16,920 --> 00:14:20,160 Speaker 3: So when we sat down with our kids, I came 288 00:14:20,240 --> 00:14:22,480 Speaker 3: up with this idea that, you know what, give them 289 00:14:22,640 --> 00:14:27,480 Speaker 3: eight pictures of celebrities, and lo and behold, they could 290 00:14:27,520 --> 00:14:30,000 Speaker 3: name all eight, all eight. They were eight for eight 291 00:14:30,480 --> 00:14:34,160 Speaker 3: and the celebrities up to Believe with Doctor dre Jay Z, Beyonce, 292 00:14:34,640 --> 00:14:35,680 Speaker 3: Floyd Mayweather. 293 00:14:35,440 --> 00:14:37,200 Speaker 4: Was on there, Puff was on there. It was like, 294 00:14:37,200 --> 00:14:38,440 Speaker 4: all right, well, they know all of those. 295 00:14:39,000 --> 00:14:41,440 Speaker 3: And then I gave him another sheet with eight pictures 296 00:14:41,760 --> 00:14:45,480 Speaker 3: and I asked him to name them, and they got 297 00:14:45,560 --> 00:14:47,440 Speaker 3: one out of the eight and the one person was 298 00:14:47,440 --> 00:14:51,760 Speaker 3: Oprah Winfree And I told them that the interesting thing 299 00:14:51,880 --> 00:14:54,760 Speaker 3: is that you recognize every celebrity, but you. 300 00:14:56,000 --> 00:14:56,680 Speaker 4: Ernest what's up. 301 00:14:56,760 --> 00:14:59,240 Speaker 3: You ever walk into a small business and everything just 302 00:14:59,360 --> 00:15:02,560 Speaker 3: works like, the checkout is fast, the receipts are digital, 303 00:15:03,080 --> 00:15:06,080 Speaker 3: tipping is a breeze, and you're out the door before 304 00:15:06,080 --> 00:15:10,240 Speaker 3: the line even builds. Odds are they're using Square. We 305 00:15:10,400 --> 00:15:12,920 Speaker 3: love supporting businesses that run on Square because it just 306 00:15:12,960 --> 00:15:16,200 Speaker 3: feels seamless. Whether it's a local coffee shop, a vendor 307 00:15:16,240 --> 00:15:18,520 Speaker 3: at a pop up market, or even one of our 308 00:15:18,560 --> 00:15:22,200 Speaker 3: merch partners. Square makes it easy for them to take payments, 309 00:15:22,440 --> 00:15:26,120 Speaker 3: manage inventory, and run their business with confidence, all from 310 00:15:26,240 --> 00:15:29,640 Speaker 3: one simple system. If you're a business owner or even 311 00:15:29,760 --> 00:15:33,280 Speaker 3: just thinking about launching something soon, Square is hands down 312 00:15:33,320 --> 00:15:35,640 Speaker 3: one of the best tools out there to help you start, 313 00:15:36,040 --> 00:15:39,560 Speaker 3: run and grow. It's not just about payments. It's about 314 00:15:39,600 --> 00:15:42,040 Speaker 3: giving you time back so you can focus on what 315 00:15:42,240 --> 00:15:45,880 Speaker 3: matters most ready. To see how Square can transform your business, 316 00:15:46,120 --> 00:15:50,760 Speaker 3: visit Square dot com backslash, go backslash eyl to learn 317 00:15:50,840 --> 00:15:56,040 Speaker 3: more that Square dot Com backslash, go backslash eyl. Don't wait, 318 00:15:56,320 --> 00:15:59,120 Speaker 3: don't hesitate. Let's Square handle the back end so you 319 00:15:59,160 --> 00:16:05,480 Speaker 3: can keep pushing your vision forward. This episode is brought 320 00:16:05,520 --> 00:16:07,440 Speaker 3: to you by P and C Bank. A lot of 321 00:16:07,440 --> 00:16:11,040 Speaker 3: people think podcasts about work are boring, and sure, they 322 00:16:11,080 --> 00:16:14,960 Speaker 3: definitely can be, But understanding a professionals routine shows us 323 00:16:15,000 --> 00:16:19,520 Speaker 3: how they achieve their success little by little, day after day. 324 00:16:19,600 --> 00:16:21,240 Speaker 4: It's like banking with P and C Bank. 325 00:16:21,720 --> 00:16:24,520 Speaker 3: It might seem boring to save, plan and make calculated 326 00:16:24,560 --> 00:16:27,640 Speaker 3: decisions with your bank, but keeping your money boring is 327 00:16:27,680 --> 00:16:31,000 Speaker 3: what helps you live a more happily fulfilled life. P 328 00:16:31,120 --> 00:16:35,960 Speaker 3: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly 329 00:16:36,000 --> 00:16:38,640 Speaker 3: Boring since eighteen sixty five is a service mark of 330 00:16:38,680 --> 00:16:41,920 Speaker 3: the PNC Financial Service Group, Inc. P and C Bank 331 00:16:42,320 --> 00:16:45,080 Speaker 3: National Association Member FDIC. 332 00:16:46,720 --> 00:16:47,000 Speaker 5: Coach. 333 00:16:47,120 --> 00:16:48,640 Speaker 2: The energy out there felt different. 334 00:16:48,760 --> 00:16:50,120 Speaker 6: What changed for the team today? 335 00:16:50,200 --> 00:16:52,359 Speaker 3: It was the new game day Scratches from the California 336 00:16:52,400 --> 00:16:53,400 Speaker 3: Lottery players. 337 00:16:53,440 --> 00:16:56,120 Speaker 5: Everything those games sent the team's energy through the roof. 338 00:16:56,200 --> 00:16:58,200 Speaker 6: Are you saying it was the off field play that 339 00:16:58,240 --> 00:16:59,320 Speaker 6: made the difference on the field. 340 00:17:00,200 --> 00:17:02,600 Speaker 5: Play makes your day, and today it made the game. 341 00:17:03,080 --> 00:17:03,840 Speaker 4: That's all for now. 342 00:17:04,440 --> 00:17:07,120 Speaker 6: One more question played the new Los Angeles Chargers, San 343 00:17:07,119 --> 00:17:10,120 Speaker 6: Francisco forty nine Ers and Los Angeles Ram Scratchers from 344 00:17:10,119 --> 00:17:13,840 Speaker 6: the California Lottery. A little play can make your day. Peace, 345 00:17:13,840 --> 00:17:15,840 Speaker 6: pay responsibly. Must be eighteen years or older to purchase 346 00:17:15,880 --> 00:17:16,399 Speaker 6: late or claim. 347 00:17:16,440 --> 00:17:20,040 Speaker 3: We only knew one of the wealthiest people of color 348 00:17:20,240 --> 00:17:23,959 Speaker 3: in the world, and their minds were blown. And I 349 00:17:24,040 --> 00:17:28,320 Speaker 3: was like, well, this is why, right, because all we've 350 00:17:28,359 --> 00:17:31,720 Speaker 3: been we see is sports and entertainment. So we went 351 00:17:31,720 --> 00:17:34,399 Speaker 3: to the number one person, the wealthiest black person or 352 00:17:34,400 --> 00:17:36,600 Speaker 3: person of color in the entire world, well black person 353 00:17:36,640 --> 00:17:40,399 Speaker 3: not even personal African descent. And we came to the 354 00:17:40,480 --> 00:17:46,359 Speaker 3: name Aliko than Golti, Aliko dan Goti. He's actually from 355 00:17:46,440 --> 00:17:50,480 Speaker 3: Nigeria and its networth this year, well in twenty eighteen, 356 00:17:50,640 --> 00:17:52,000 Speaker 3: was ten point seven billion. 357 00:17:53,720 --> 00:17:54,560 Speaker 4: You want to go into it. 358 00:17:54,760 --> 00:17:59,040 Speaker 5: Yeah, So Aliko Dane Gotie. We wanted to cover him 359 00:17:59,080 --> 00:18:01,800 Speaker 5: for a few different reasons. But shout out to Africa. 360 00:18:02,000 --> 00:18:04,919 Speaker 5: We have a lot of listeners in Africa and the 361 00:18:05,040 --> 00:18:08,040 Speaker 5: UK and all over. And you know, obviously we live 362 00:18:08,080 --> 00:18:10,920 Speaker 5: in America, so most of our stories are based off 363 00:18:10,920 --> 00:18:15,240 Speaker 5: of Americans. But we're bigger than's just America. Right, you know, 364 00:18:15,640 --> 00:18:17,320 Speaker 5: the world, as I always say, the world is flat. 365 00:18:17,600 --> 00:18:19,359 Speaker 5: So we want to show love to every part of 366 00:18:19,359 --> 00:18:21,720 Speaker 5: the world and to give inspiration to every part of 367 00:18:21,760 --> 00:18:23,440 Speaker 5: the world as well. Right. So, as you said, the 368 00:18:23,520 --> 00:18:25,720 Speaker 5: richest black person in the world, African descent, whatever you 369 00:18:25,760 --> 00:18:29,160 Speaker 5: want to call it, is from Nigeria. Right, He's worth 370 00:18:29,160 --> 00:18:30,879 Speaker 5: ten billion dollars. So we're going to tell his story. 371 00:18:31,640 --> 00:18:34,359 Speaker 5: So because I'm pretty sure that most people aren't familiar 372 00:18:34,359 --> 00:18:34,640 Speaker 5: with him. 373 00:18:34,680 --> 00:18:36,760 Speaker 3: Yeah, I mean, every time I've brought him up in conversation, 374 00:18:37,080 --> 00:18:40,600 Speaker 3: people will say who is that, and it's it's ironic, 375 00:18:40,600 --> 00:18:42,200 Speaker 3: like we know who Floyd Mayweather is, and we know 376 00:18:42,200 --> 00:18:45,320 Speaker 3: who Jay Z and I mean, they've had a huge 377 00:18:45,320 --> 00:18:49,240 Speaker 3: amount of success, but those three people, they're not worth 378 00:18:49,560 --> 00:18:51,760 Speaker 3: doesn't even add up to his No, it's not even close. 379 00:18:51,840 --> 00:18:55,120 Speaker 5: So all right, so Aliko, he he comes from Nigeria, 380 00:18:55,359 --> 00:18:59,800 Speaker 5: right and he uh, he starts in twenty one and 381 00:19:00,240 --> 00:19:02,960 Speaker 5: the concrete business. So he comes from a wealthy family 382 00:19:02,960 --> 00:19:06,680 Speaker 5: already nowhere near where he is now. But he comes 383 00:19:06,720 --> 00:19:08,880 Speaker 5: from a wealthy family. So that's no. That's another thing too. 384 00:19:08,920 --> 00:19:10,399 Speaker 5: We have to keep in mind because even with the 385 00:19:10,440 --> 00:19:12,360 Speaker 5: whole thing with Kylie Jenner, as far as what self made, 386 00:19:12,359 --> 00:19:15,320 Speaker 5: that's that was big on the page. And we have 387 00:19:15,320 --> 00:19:19,280 Speaker 5: to keep in mind that there are black wealthy people, right. 388 00:19:19,200 --> 00:19:22,919 Speaker 3: Like his grandfather was wealthy, the wealthiest person in West Africage. 389 00:19:22,960 --> 00:19:26,800 Speaker 5: Yeah, so and there's nothing wrong with we have to 390 00:19:26,840 --> 00:19:29,159 Speaker 5: get out of that mind like, there's nothing to be 391 00:19:29,160 --> 00:19:31,320 Speaker 5: embarrassed about if your if your family has money. But 392 00:19:31,359 --> 00:19:33,480 Speaker 5: that's what we should strive to do to actually leave 393 00:19:33,520 --> 00:19:35,959 Speaker 5: a legacy for our kids. And it's like we almost 394 00:19:36,119 --> 00:19:40,960 Speaker 5: like are embarrassed if we have any leg up. I 395 00:19:41,000 --> 00:19:43,160 Speaker 5: mean like it's it's kind of backwards way of thinking. 396 00:19:43,320 --> 00:19:46,280 Speaker 5: But so, yeah, he comes from a wealthy family, but 397 00:19:47,080 --> 00:19:49,239 Speaker 5: nowhere near where he is now. So at twenty one, 398 00:19:49,280 --> 00:19:54,000 Speaker 5: he starts a concrete business, right and from there it's 399 00:19:54,000 --> 00:19:55,720 Speaker 5: a five thousand dollars alone that he got from his 400 00:19:55,800 --> 00:19:59,240 Speaker 5: uncle to start the business. From there, he parlayed that 401 00:19:59,720 --> 00:20:08,280 Speaker 5: and to pretty much everything agriculture, food, telecommunications. 402 00:20:07,240 --> 00:20:10,560 Speaker 4: Banking, petroleum, banking, controleum, sugar flowers. 403 00:20:10,320 --> 00:20:13,960 Speaker 5: Sugar flower everything. He's like guys, guy's hands and everything. 404 00:20:14,040 --> 00:20:16,800 Speaker 5: Everything in the country is pretty much he's involved with 405 00:20:17,040 --> 00:20:20,120 Speaker 5: in one way or the other. He's heavy in politics everything. Right, 406 00:20:20,480 --> 00:20:24,359 Speaker 5: So what he's doing now is that he is taking 407 00:20:24,400 --> 00:20:27,840 Speaker 5: a major risk. But that's what business is about, right. 408 00:20:28,119 --> 00:20:32,600 Speaker 5: He's taking a major risk and building a twelve billion 409 00:20:32,680 --> 00:20:37,399 Speaker 5: dollar petroleum refinery, yes, right in Nigeria. 410 00:20:37,040 --> 00:20:40,040 Speaker 3: So just a quick a couple of things about Nigeria. 411 00:20:41,080 --> 00:20:44,480 Speaker 3: Nigeria is Africa's largest oil producer, so that's just the 412 00:20:44,480 --> 00:20:46,800 Speaker 3: first thing. Now, they have the control of I think 413 00:20:46,920 --> 00:20:49,640 Speaker 3: the tenth largest oil reserves in the country. 414 00:20:49,920 --> 00:20:50,720 Speaker 4: Oh and I'm sorry in. 415 00:20:50,720 --> 00:20:54,440 Speaker 3: The world, in the world, but they don't there take 416 00:20:54,480 --> 00:20:58,200 Speaker 3: their resource, not their resources, but they don't have refineries 417 00:20:58,200 --> 00:21:01,400 Speaker 3: that are efficient enough to get it throughout the entire time. 418 00:21:01,520 --> 00:21:01,680 Speaker 4: Yeah. 419 00:21:01,720 --> 00:21:03,480 Speaker 5: So the thing about Nigeria is that they have the 420 00:21:03,560 --> 00:21:06,600 Speaker 5: tenth largest oil reserves, like you said, in the world, 421 00:21:07,160 --> 00:21:11,160 Speaker 5: but they only have four state run refineries and those 422 00:21:11,200 --> 00:21:14,040 Speaker 5: are old. So what happens is that they have to 423 00:21:14,400 --> 00:21:17,760 Speaker 5: import most of their petroleum, which makes no sense, right 424 00:21:17,760 --> 00:21:21,919 Speaker 5: because you have so much petroleum in your backyard literally, 425 00:21:22,280 --> 00:21:24,320 Speaker 5: but you have to import it because you don't have 426 00:21:24,320 --> 00:21:27,320 Speaker 5: the infrastructure to actually produce it yourself. So that's his thing. 427 00:21:27,359 --> 00:21:29,040 Speaker 5: His thing is like, why do why don't we have 428 00:21:29,080 --> 00:21:30,680 Speaker 5: to bring in all of this stuff from the Middle 429 00:21:30,720 --> 00:21:32,840 Speaker 5: East and all these other from countries when we have 430 00:21:32,960 --> 00:21:36,320 Speaker 5: it right here. So he's building a twelve billion dollar 431 00:21:36,480 --> 00:21:41,160 Speaker 5: refinery and what that will do is make it well 432 00:21:41,240 --> 00:21:44,119 Speaker 5: as going to be the largest petroleum refinery. 433 00:21:43,840 --> 00:21:44,280 Speaker 4: In the world. 434 00:21:44,359 --> 00:21:45,000 Speaker 5: Yeah, in the world. 435 00:21:45,320 --> 00:21:48,520 Speaker 3: Literally he went out and this is built on wasteland. 436 00:21:48,640 --> 00:21:52,960 Speaker 3: So he I mean again, his business helps with this process, 437 00:21:53,000 --> 00:21:55,959 Speaker 3: right because he has the concrete, and he has the 438 00:21:56,040 --> 00:21:58,439 Speaker 3: trucks and he has all these things to help build it. 439 00:21:58,640 --> 00:22:00,880 Speaker 3: So he's building it right now. I believe it's off 440 00:22:00,880 --> 00:22:04,440 Speaker 3: the south coast of Nigeria. But yeah, like, let's build 441 00:22:04,440 --> 00:22:07,800 Speaker 3: this refinery because there's no point of us as important anymore. 442 00:22:08,200 --> 00:22:11,639 Speaker 5: Right, So that's going to take if all goes well. 443 00:22:11,720 --> 00:22:14,680 Speaker 5: So right now, his company made four billion dollars in revenue. 444 00:22:14,760 --> 00:22:16,960 Speaker 5: That shit, if all goes well, that's going to take 445 00:22:16,960 --> 00:22:19,600 Speaker 5: it from his company from four billion to thirty billion. 446 00:22:19,680 --> 00:22:19,880 Speaker 4: Yeah. 447 00:22:19,920 --> 00:22:23,479 Speaker 3: So the key part about that is that sixty percent 448 00:22:23,600 --> 00:22:26,399 Speaker 3: of Nigeria, right is not they're not connected to the 449 00:22:26,680 --> 00:22:29,760 Speaker 3: power grid sixty percent and when the people who are, 450 00:22:29,800 --> 00:22:31,720 Speaker 3: they have like four hours of power at a time. 451 00:22:31,840 --> 00:22:34,720 Speaker 3: So there's like long history of blackouts in the country. 452 00:22:34,960 --> 00:22:37,800 Speaker 3: So he has a chance to provide electricity now to 453 00:22:37,880 --> 00:22:38,920 Speaker 3: an entire country. 454 00:22:39,080 --> 00:22:41,040 Speaker 5: Well, yes, he has a chance to change the course 455 00:22:41,080 --> 00:22:44,320 Speaker 5: of Nigeria forever, forever and also change the cost of 456 00:22:44,400 --> 00:22:45,560 Speaker 5: Africa as. 457 00:22:45,400 --> 00:22:46,480 Speaker 4: Well, the entire continent. 458 00:22:46,560 --> 00:22:49,600 Speaker 5: Right, yeah, exactly, So what he's doing is more than 459 00:22:49,640 --> 00:22:54,120 Speaker 5: just money, right, he has actual chance to really leave 460 00:22:54,400 --> 00:22:57,359 Speaker 5: a legacy forever when it comes to Africa. And then 461 00:22:57,400 --> 00:22:59,200 Speaker 5: of course money plays a part as well as let's 462 00:22:59,200 --> 00:23:01,359 Speaker 5: say it takes his company from four billion to thirty billion, 463 00:23:01,400 --> 00:23:04,159 Speaker 5: So now he's a billionaire. Now. I think he was 464 00:23:04,160 --> 00:23:05,240 Speaker 5: like number hundred. 465 00:23:04,920 --> 00:23:07,760 Speaker 3: On the list, yeah he I think his highest rank 466 00:23:07,800 --> 00:23:09,479 Speaker 3: on the list was like twenty five. He was up 467 00:23:09,520 --> 00:23:12,920 Speaker 3: to like twenty twenty. Yeah, a couple of things. 468 00:23:12,920 --> 00:23:14,560 Speaker 5: But this does now, this puts him in like the 469 00:23:14,560 --> 00:23:17,840 Speaker 5: top twenty. Now now he's in there with Bloomberg and 470 00:23:18,119 --> 00:23:21,439 Speaker 5: guys like that. Right, So that changed the trajectory of 471 00:23:21,480 --> 00:23:23,960 Speaker 5: wealth as well. But as I said, more importantly, like 472 00:23:24,000 --> 00:23:26,240 Speaker 5: you said, sixty pent of the country doesn't have electricity. 473 00:23:27,440 --> 00:23:30,720 Speaker 5: They're the tenth largest oil producing country, but they have 474 00:23:30,840 --> 00:23:34,760 Speaker 5: to import all their oil, so they make themself reliant. 475 00:23:35,280 --> 00:23:38,000 Speaker 5: They can keep all their resources at home now and 476 00:23:38,040 --> 00:23:41,439 Speaker 5: it sets a trend for West Africa and the whole 477 00:23:41,480 --> 00:23:45,200 Speaker 5: Sub Saharan Africa as a whole, right, because we all 478 00:23:45,240 --> 00:23:48,360 Speaker 5: know that Africa is the richest continent as far as 479 00:23:48,480 --> 00:23:52,960 Speaker 5: minerals and what's in the earth, but unfortunately it's the 480 00:23:53,000 --> 00:23:57,080 Speaker 5: poorest continent economically, right, So hopefully this will be a 481 00:23:57,119 --> 00:24:00,520 Speaker 5: trend that countries can follow in busines, this man in 482 00:24:00,560 --> 00:24:03,119 Speaker 5: the countries can follow where now the wealth is actually 483 00:24:03,200 --> 00:24:06,040 Speaker 5: kept in Africa and they're producing for themselves and they're 484 00:24:06,119 --> 00:24:08,359 Speaker 5: keeping it for themselves, right, So there's two sides to 485 00:24:08,480 --> 00:24:12,040 Speaker 5: every story, right. So a lot of people aren't big 486 00:24:12,080 --> 00:24:15,920 Speaker 5: fans of his because they said that, you know, he 487 00:24:16,400 --> 00:24:19,479 Speaker 5: has a lot of money off shore and some shaky 488 00:24:19,520 --> 00:24:22,680 Speaker 5: business practices, political pays on the politicians. 489 00:24:25,760 --> 00:24:27,800 Speaker 3: So his wealth, right, and when we look at our 490 00:24:27,840 --> 00:24:30,920 Speaker 3: country and we think of the wealthiest people in the world, 491 00:24:30,920 --> 00:24:34,200 Speaker 3: and we know that one percent of the population has 492 00:24:34,200 --> 00:24:37,480 Speaker 3: more money than ninety nine percent, so his statistic is 493 00:24:37,520 --> 00:24:40,040 Speaker 3: even larger because yes, I think fifty percent of the 494 00:24:40,040 --> 00:24:42,119 Speaker 3: country does live in poverty, and you have now a 495 00:24:42,160 --> 00:24:44,760 Speaker 3: man who's in the top one hundred wealthiest people in 496 00:24:44,760 --> 00:24:46,760 Speaker 3: the world, so the disparacy is even greater. 497 00:24:46,840 --> 00:24:48,560 Speaker 4: So people are looking at that, like, but. 498 00:24:48,600 --> 00:24:51,040 Speaker 5: That's not just his I mean, look at Carlos Slim. 499 00:24:50,800 --> 00:24:52,240 Speaker 4: Right in Mexico. Another person. 500 00:24:52,280 --> 00:24:55,240 Speaker 5: I look at his brillion of billionaires in India or 501 00:24:55,240 --> 00:24:59,240 Speaker 5: even America, right, so that's all over the world. Yeah, 502 00:24:59,440 --> 00:25:01,680 Speaker 5: but like I said this, you know, there's there's some 503 00:25:01,680 --> 00:25:04,280 Speaker 5: some rumors that you know, he's done some things, which 504 00:25:04,520 --> 00:25:07,120 Speaker 5: I mean most business people have on a certain level. Right, 505 00:25:07,240 --> 00:25:09,600 Speaker 5: But then he also has a charity where he's donated 506 00:25:09,640 --> 00:25:11,400 Speaker 5: one point two billion dollars of his own wealth. 507 00:25:11,440 --> 00:25:13,600 Speaker 4: Yeah, I believe him and Bill Gates or doing. 508 00:25:13,400 --> 00:25:15,080 Speaker 5: He's doing some stuff with Bill Gates. Well, but then 509 00:25:15,119 --> 00:25:18,080 Speaker 5: he also built two hundred homes for poor people. 510 00:25:18,520 --> 00:25:22,000 Speaker 3: So and he said his favorite So he for the 511 00:25:22,000 --> 00:25:24,320 Speaker 3: first twenty years of business, so he started his company 512 00:25:24,359 --> 00:25:27,200 Speaker 3: I believe in nineteen seventy seven, first twenty years of business, 513 00:25:27,600 --> 00:25:29,680 Speaker 3: refused to travel, did not travel at all. 514 00:25:29,880 --> 00:25:32,240 Speaker 5: Yeah, that's into no vacation. So that's because that goes 515 00:25:32,240 --> 00:25:33,960 Speaker 5: back to the college. Different thing right where I said, Okay, 516 00:25:34,680 --> 00:25:36,680 Speaker 5: you start with money. Obviously, if you start with money, 517 00:25:36,720 --> 00:25:38,720 Speaker 5: you have a leg up. It's obvious, right, But you 518 00:25:38,760 --> 00:25:41,240 Speaker 5: still have to work the money to make it more money. 519 00:25:41,280 --> 00:25:43,720 Speaker 5: So the guy didn't take a vacation for twenty years. 520 00:25:43,800 --> 00:25:46,800 Speaker 5: Twenty years now he takes vacation now, But for the 521 00:25:46,800 --> 00:25:48,879 Speaker 5: first twenty years in business, he didn't take a vacation. 522 00:25:48,960 --> 00:25:50,680 Speaker 3: His ratio now is for every two weeks he works, 523 00:25:50,720 --> 00:25:52,760 Speaker 3: he takes a vacation. I got to get We have 524 00:25:52,800 --> 00:25:54,159 Speaker 3: to get to that, right, Yeah, I mean that's an 525 00:25:54,200 --> 00:25:54,879 Speaker 3: amazing question. 526 00:25:55,400 --> 00:26:00,560 Speaker 5: It's like, how many people take vacations just got here. 527 00:26:00,640 --> 00:26:01,320 Speaker 4: It shouldn't be. 528 00:26:01,600 --> 00:26:03,680 Speaker 5: He can't afford it, right, you you. 529 00:26:03,560 --> 00:26:05,919 Speaker 4: Have no money and you're still taking vacations just for 530 00:26:05,920 --> 00:26:06,320 Speaker 4: the hell of it. 531 00:26:06,320 --> 00:26:08,359 Speaker 5: You're going Miami just just cause it's funny. 532 00:26:08,359 --> 00:26:10,359 Speaker 4: You said Miami. Because when he said the two favorite 533 00:26:10,359 --> 00:26:11,280 Speaker 4: places of travel. 534 00:26:11,000 --> 00:26:14,879 Speaker 5: Atlanta in Miami, Atlanta in Miami, that's pretty random. I'ma 535 00:26:14,880 --> 00:26:17,160 Speaker 5: be honest with you. If I'm one of the richest 536 00:26:17,160 --> 00:26:20,000 Speaker 5: people in the world, I love Miami. I love Atlanta too, 537 00:26:21,000 --> 00:26:23,200 Speaker 5: Those would not be my two top travel desers. 538 00:26:23,240 --> 00:26:25,160 Speaker 4: Well, where you're coming from though you're coming from New York. 539 00:26:25,240 --> 00:26:26,600 Speaker 5: It doesn't no matter where I'm coming from. 540 00:26:27,119 --> 00:26:29,120 Speaker 3: Somebody who's in Nigeria that may look at that as 541 00:26:29,160 --> 00:26:32,439 Speaker 3: like that's a tourist destination, and we do it like 542 00:26:32,480 --> 00:26:33,119 Speaker 3: pretty regularly. 543 00:26:35,800 --> 00:26:41,800 Speaker 5: Shotlana Shot to Miami too. It's just a little random 544 00:26:41,800 --> 00:26:44,439 Speaker 5: for me, that's all. But yeah, those are his two favorite. 545 00:26:44,440 --> 00:26:46,000 Speaker 5: He actually owns a lot of property in Atlanta. 546 00:26:46,119 --> 00:26:49,800 Speaker 3: Yeah, he I think he had a residency out there, 547 00:26:50,240 --> 00:26:52,800 Speaker 3: But now I think he's saying at some like luxurious 548 00:26:53,400 --> 00:26:54,480 Speaker 3: like resort there. 549 00:26:54,520 --> 00:26:57,040 Speaker 5: Now, yeah, I mean, Nigga, he's bawling out of control. 550 00:26:57,080 --> 00:26:58,879 Speaker 5: But the thing about it also is that so this 551 00:26:58,960 --> 00:27:01,119 Speaker 5: flip sides to every coin. So some people say he's 552 00:27:01,119 --> 00:27:02,680 Speaker 5: a bad guy, some people say he's a good guy. 553 00:27:04,160 --> 00:27:07,919 Speaker 5: I learned that life is complicated, right, So when I 554 00:27:08,000 --> 00:27:10,320 Speaker 5: was in Columbia. I went to Columbia a little while ago. 555 00:27:10,720 --> 00:27:14,600 Speaker 5: And obviously when you think of Columbia, who do you 556 00:27:14,600 --> 00:27:20,840 Speaker 5: think of It's a legend. So everybody knows Pablo Escobar story. 557 00:27:20,840 --> 00:27:22,679 Speaker 5: I don't have to tell a story. Half of the 558 00:27:22,720 --> 00:27:26,320 Speaker 5: country hates him, despises him, and half of the country 559 00:27:26,400 --> 00:27:28,800 Speaker 5: loves them. Right, So depending on who you talk to, 560 00:27:29,119 --> 00:27:32,240 Speaker 5: you're gonna get a different story. So if you talk 561 00:27:32,280 --> 00:27:34,480 Speaker 5: to some of the people that he might be responsible 562 00:27:34,520 --> 00:27:38,200 Speaker 5: for killing and you know, ruining lives and all the things, 563 00:27:38,200 --> 00:27:39,879 Speaker 5: then they would tell you that he's the devil, he's 564 00:27:39,920 --> 00:27:41,720 Speaker 5: the worst person in the world. But then I went 565 00:27:41,760 --> 00:27:43,760 Speaker 5: to a community, I forget what it's called, but it's 566 00:27:43,800 --> 00:27:46,760 Speaker 5: Pablo Eskebar community where he built I think like three 567 00:27:46,800 --> 00:27:50,000 Speaker 5: hundred homes for poor people, right, And he built the 568 00:27:50,000 --> 00:27:54,080 Speaker 5: whole community. He built the hospital, he built homes, restaurants, 569 00:27:54,359 --> 00:27:56,960 Speaker 5: grocery stores, He literally built the community for poor people, 570 00:27:56,960 --> 00:28:00,400 Speaker 5: and everybody lived rent free, everybody had a home. They 571 00:28:00,400 --> 00:28:03,239 Speaker 5: got murals of them on the wall. To this day, 572 00:28:03,240 --> 00:28:07,920 Speaker 5: they still got murals of them, like he's he's a saint. Right. 573 00:28:08,000 --> 00:28:10,560 Speaker 5: So life is complicated, right, And depending on who you 574 00:28:10,600 --> 00:28:14,400 Speaker 5: ask opinion, you're gonna get a clearly different answer. 575 00:28:14,440 --> 00:28:14,560 Speaker 4: Yea. 576 00:28:14,800 --> 00:28:18,560 Speaker 3: So there was in the part where he's building the refinery, 577 00:28:18,800 --> 00:28:22,240 Speaker 3: there was some some some negative press where people had 578 00:28:22,280 --> 00:28:23,480 Speaker 3: lived near the land. 579 00:28:23,240 --> 00:28:26,000 Speaker 5: And he came in, he cleared the land, so that's 580 00:28:26,320 --> 00:28:26,520 Speaker 5: that's it. 581 00:28:26,760 --> 00:28:28,800 Speaker 4: Then didn't provide homes or anything. 582 00:28:28,880 --> 00:28:30,760 Speaker 5: So they said he cleared off the land to make 583 00:28:30,880 --> 00:28:34,000 Speaker 5: wrong but then he build two hunchd homes for poor people. 584 00:28:34,720 --> 00:28:35,360 Speaker 5: So it's like. 585 00:28:35,600 --> 00:28:36,960 Speaker 3: And his thing is like he doesn't even want to 586 00:28:36,960 --> 00:28:39,840 Speaker 3: be remembered as the wealthiest person of African descent. He'd 587 00:28:39,920 --> 00:28:42,680 Speaker 3: rather be known as a philanthropist and that's honorable. Like 588 00:28:42,760 --> 00:28:45,160 Speaker 3: he just wants to be the person that has given back, 589 00:28:45,360 --> 00:28:47,360 Speaker 3: and he has a chance to like what we said, 590 00:28:47,640 --> 00:28:51,240 Speaker 3: if you think about it, like his country relies on imports, 591 00:28:51,320 --> 00:28:54,840 Speaker 3: he has a chance to reverse their entire trajectory and 592 00:28:54,920 --> 00:28:58,640 Speaker 3: be a country that is pretty much making their revenue 593 00:28:58,720 --> 00:29:00,920 Speaker 3: from exporting their resources. 594 00:29:00,920 --> 00:29:02,880 Speaker 5: So that's I mean, now that's a good story. And 595 00:29:02,920 --> 00:29:06,959 Speaker 5: then also it's just you know, we like to highlight 596 00:29:07,760 --> 00:29:12,400 Speaker 5: business people and we want to give people inspiration and 597 00:29:12,480 --> 00:29:15,000 Speaker 5: hope and just just different figures. Right, Like we all 598 00:29:15,040 --> 00:29:17,200 Speaker 5: know who Warren Buffett is. We know who Bill Gates is, 599 00:29:17,240 --> 00:29:19,080 Speaker 5: so why should we not know who he is? 600 00:29:19,960 --> 00:29:22,920 Speaker 3: I doubt and I mean I work in schools. This 601 00:29:22,960 --> 00:29:24,479 Speaker 3: is his name is never being brought up. 602 00:29:25,720 --> 00:29:27,680 Speaker 5: But there's a bunch of people. We got Robert Smith, 603 00:29:27,960 --> 00:29:31,600 Speaker 5: who's the richest black American. He's a billionaire, and a 604 00:29:31,640 --> 00:29:32,720 Speaker 5: lot of people don't know he. 605 00:29:32,760 --> 00:29:35,040 Speaker 4: They have well, Rob Johnson before him, and he wasn't 606 00:29:35,080 --> 00:29:35,440 Speaker 4: brought up. 607 00:29:35,640 --> 00:29:37,720 Speaker 5: But even Rob Johnson, he's still in sports entertainment on 608 00:29:37,760 --> 00:29:40,120 Speaker 5: a certain level, but Robert Smith is in private equity. 609 00:29:40,240 --> 00:29:43,920 Speaker 5: So we're going to try to highlight different people from 610 00:29:43,920 --> 00:29:47,920 Speaker 5: different walks of life, but business in particular, because I 611 00:29:47,960 --> 00:29:52,240 Speaker 5: think it's important for people to see these people and 612 00:29:52,320 --> 00:29:53,600 Speaker 5: to just know about him. You don't have to be 613 00:29:53,680 --> 00:29:55,480 Speaker 5: a fan of him or not, but at least you 614 00:29:55,480 --> 00:29:56,560 Speaker 5: should be aware of the. 615 00:29:56,480 --> 00:29:59,719 Speaker 3: Power of presence and the power of perceptions. Like at 616 00:29:59,760 --> 00:30:02,000 Speaker 3: least I've seen somebody who can do that, is doing this. 617 00:30:02,400 --> 00:30:05,240 Speaker 3: It's powerful. If we've never seen that, like, then we 618 00:30:05,320 --> 00:30:09,920 Speaker 3: may expire to be an athlete or somebody entertainment. It's like, 619 00:30:09,920 --> 00:30:12,600 Speaker 3: oh wait, there's somebody doing something else in this avenue. 620 00:30:13,160 --> 00:30:15,160 Speaker 3: Oh I can do this too, right, So the power 621 00:30:15,440 --> 00:30:21,240 Speaker 3: of just seeing yourself and somebody successful, you can't measure. 622 00:30:20,960 --> 00:30:23,240 Speaker 5: It now, you can't. And once again, shout out to Africa, 623 00:30:23,800 --> 00:30:32,800 Speaker 5: uh South Africa, to Nigeria, Ghana, Ethiopia, Somalia, all that, Egypt. 624 00:30:33,160 --> 00:30:36,719 Speaker 5: We're gonna go to Africa very soon. I have unfortunately 625 00:30:36,760 --> 00:30:40,200 Speaker 5: I have not been to Africa yet. I've been a 626 00:30:40,200 --> 00:30:42,120 Speaker 5: lot of different places but I have not been to Africa, 627 00:30:42,160 --> 00:30:45,080 Speaker 5: so that's on my to do list. I'm looking forward 628 00:30:45,120 --> 00:30:48,360 Speaker 5: to it. I'm very excited and yeah, we're gonna get 629 00:30:48,360 --> 00:30:49,040 Speaker 5: out there for sure. 630 00:30:49,120 --> 00:30:49,680 Speaker 4: Absolutely. 631 00:30:52,280 --> 00:30:58,640 Speaker 5: My graduates from my school being forced bad, drop, drop, 632 00:30:59,560 --> 00:31:00,520 Speaker 5: drop a job. 633 00:31:10,960 --> 00:31:13,760 Speaker 2: Thanks for selling your car to Carvana. Here's your check. WHOA, 634 00:31:13,920 --> 00:31:15,440 Speaker 2: When did I get here? What do you mean? 635 00:31:15,600 --> 00:31:17,600 Speaker 1: I swear it was just moments ago that I accepted 636 00:31:17,640 --> 00:31:19,280 Speaker 1: a great offer from Carvana online. 637 00:31:19,480 --> 00:31:21,880 Speaker 2: I must have time traveled to the future. It was 638 00:31:22,080 --> 00:31:24,400 Speaker 2: just moments ago. We do same day pickup. Here's your 639 00:31:24,440 --> 00:31:28,480 Speaker 2: check for that great offer. It is the future, it's 640 00:31:28,560 --> 00:31:31,240 Speaker 2: the present and just the convenience of Carvana. Sorry to 641 00:31:31,280 --> 00:31:31,920 Speaker 2: blow your mind. 642 00:31:32,240 --> 00:31:32,800 Speaker 4: It's all good. 643 00:31:33,120 --> 00:31:33,920 Speaker 5: Happens all the time. 644 00:31:34,600 --> 00:31:38,080 Speaker 2: Sell your car the convenient way to Carvana. 645 00:31:38,640 --> 00:31:40,320 Speaker 6: Pickup times may vary, and fees may apply.