James Altucher’s net worth: $50 million
Currently, James Altucher’s net worth is pretty close to $50 million, self reported. This figure is independent of property wealth, as he currently doesn’t own property or cars.
Technology is booming and advancing. It moves in a different way from normal business, with one company coming out of seemingly nowhere, and often disappearing as quickly as it appeared. These companies frequently become household names, but few have true longevity.
The booming tech empire also creates a lot of very wealthy entrepreneurs. We’ve all probably got our favorites. For example, everyone knows Bill Gates, and with all his philanthropy it’s hard not to love him. Another name that has made the news in a big way lately thanks to his divorce is Jeff Bezos. Mark Zuckerberg has had books and movies written about him and despite taking several knocks, seems to always come out on top anyway. Then, of course, there are my personal favorites – Larry Page, Sergey Brin, and my idol, Vint Cerf, although lately the Google boys have fallen out of favor.
I bet very few of you have heard the name James Altucher until recently, though. He doesn’t have a single, massive company. He isn’t a typical tech guru in a power suit, and he can be a bit of an enigma. Many people have followed his career and wondered just how much is he worth, anyway?
Until recently, the only real answer we had was his, “Infinite and zero.” He further explains this philosophy by saying that everyone eventually dies, and all their accumulated wealth becomes zero when that happens, but that if you are alive and content, with everything you need, then your wealth is infinite. When you think about it, this is a very Zen philosophy to espouse, and rarely found among the elite upper echelon in the 1% tax bracket. He recently released his actual net worth on a podcast, so let’s look at how he got there and how he maintains it.
Where did he come from?
James is a native of New York City who his hand in a lot of pots. He got a Bachelor’s degree in Computer Science from Cornell University in 1989, and later completed Doctoral studies in the same field at Carnegie Mellon University. He got his start working in the IT department at HBO, even hosting a program called III:am where he conducted late night interviews with Chelsea residents, before deciding that he would rather strike out on his own and try his luck with entrepreneurial spirit.
He started a company called Reset Inc. This company designed websites at a time when these were just coming into fashion, serving wealthy clients like the Wu-Tang Clan, American Express, Time Warner, and BMG. He made enough money to quit his job with HBO and strike out on his own. He eventually sold this company, garnering $10 million on his first big payday.
He proceeded to lose all of it on his next venture. In fact, he started 20 companies and only 3 of them were successful. He espouses the view that experience is curriculum and every failure teaches you something.
What does he do, exactly??
James Altucher’s net worth is built on a lot of different things. He always has multiple income streams. This is one of a few things we agree upon – diversify your income. If he had put everything into 1 of his failed attempts, he would be picking up from nothing. Instead, he has several opportunities.
You can put this into practice through creativity and side hustles. In fact, this is a great time to have side hustles because there are so many opportunities available. Creative? Open an Etsy shop. Great eye for trend and details? Up-cycle furniture and clothing you find in thrift shops and sell them online for a profit. Handy? Try places like Task Rabbit. Nearly every creative inkling you have can be turned to modest to major profits with enough energy. This is something that James Altucher knows very well.
Investments and Hedge Funds
We know about his business ventures. He puts energy into his best ideas, attempting to capitalize on them instead of letting them pass him by. On top of this, he is also an investor. He has invested in multiple successful companies, and learned how to spot great business opportunities from those likely to fold.
He also invests in stocks, dividends, and other opportunities. He’s taken some risks hoping for big payouts and also played safe elsewhere just in case. In fact, he’s gotten good enough at it that another income stream for him is in hedge fund management, where he coaches others on how to invest well and helps them manage their own investments.
Another major income stream for him is writing. He has published several books, some on business and some on self-help and improvement. He offers up his life experience and the conclusions he draws from it to others, always truthful about his failures. Several of his books have become international best sellers.
His most popular self-help book, Choose Yourself, remains popular. It addresses a changing world, where markets are crashing and the American Dream feels like a scam. It addresses how to handle an economy where a college degree isn’t a safe choice, retirement funds are unheard of, and opportunities in the corporate sector are shrinking. His philosophy is making a decision to Choose Yourself. It has mixed reviews, with many people appreciating the philosophy of ensuring your physical and emotional wellbeing while others rejecting the notion that they should get rid of stable jobs and go into business for themselves based on his prediction of the inevitable downfall of corporate America. The book was ultimately so popular that he’s pulled an excerpt, What To Do When You’re Rejected, and sold it as its own eBook.
Other books of his include Reinvent Yourself, which talks to readers about the multiple reinventions successful business leaders and entrepreneurs go through, and asserts that change is the only constant; My Daddy Owns All of Outer Space, a children’s picture book about the value of kindness towards others; the Choose Yourself Guide to Wealth, where he offers a roadmap to financial success based on some of the ways he made his own money; The Rich Employee, which outlines success pathways for people who don’t want to become entrepreneurs; and The Power of No: Because One Little Word Can Bring Health, Abundance, and Happiness.
He has several published guides, including 40 Alternatives to College; I Was Blind But Now I See; FAQ Me; How to Be the Luckiest Person Alive; Super Ca$h The New Hedge Fund Capitalism. He even has a comic called The Altucher Confidential: ideas for a World Out of Balance, A Round Table Comic.
He also teaches people how to invest with titles like Guide to Investing in the Apocalypse; Trade Like a Hedge Fund: 20 Successful Uncorrelated Strategies and Techniques to Winning Profits; and The Forever Portfolio: How to Pick Stocks that You Can Hold for the Long Run; and even Trade Like Warren Buffet.
James Altucher deserves kudos in one major area – marketing. While many of his philosophies are a bit controversial, and not everyone buys what he is selling in terms of life advice, one thing that is absolutely undeniable is his mastery of marketing. His website drives a perfect funnel into subscription based newsletters, each one ultra specialized for a very specific niche segment, and a few that are more broad reaching.
Each newsletter is linked through affiliate marketing programs, so people are drawn into his website through more business oriented, less sales pitch style newsletters form businesses they know and trust. His emails are written well and his video marketing and interviews do a great job convincing people that he’s a genuine and honest guy who is right in the thick of things with you and is letting you in on his own secrets to success.
Once you sign up for one of his newsletters, you get a series of emails telling you how to access back issues and make the most of his reports. You also get a free book he’s written on cryptocurrency that offers some decent advice for beginners.
The newsletters themselves have some decent information about businesses, and more of his life philosophies, but they are a bit light on details and specifics because the detailed information is for subscribers. He uses the newsletters to push other aspects of his online business, so that he can gain additional income this way.
His newsletter topics are pretty varied. Altucher’s Weekly Alphabrain Alert lets subscribers in on his specially developed algorithm, alleging that it delivers consistent profits within short-term stock market trades. His Investment Network continues his Choose Yourself philosophy to the next step – financial independence and freedom. This newsletter includes some general trading tips and secrets to building wealth. The Altucher Report offers broad tips on how to succeed as an entrepreneur in the new economy. He offers emerging income opportunities, stock advice, and niche business start up ideas.
Some of his targeted, specialized newsletters include his Crypto Trader newsletter, talking about how to invest in crypto currencies; his 420% Syndicate, discussing cannabis opportunities; and the Top 1% Advisory, where he offers under the radar opportunities straight from heavyweights in the industry.
As any true Internet marketing master knows, you need to drive your subscribers to purchasing classes. James is no exception, offering a master class in crypto currency as well as a more broad reaching class based around his successful book. The Choose Yourself Guide to Self Publishing encourages aspiring writers to self publish and teaches you how to do this. He will break down the entire process from writing to editing then offers his advice on how to market your books successfully. It is small wonder that his class is a success given his own success with publishing so many top rated, successful books himself.
James also has a hand in podcasting, with over 200,000 subscribers to his personal podcast – The James Altucher Show. His podcast snags big name guests for interviews, hosting Arianna Huffington, Coolio, Pete Holmes, and more.
Philosophy for Success
James Altucher has several things he attributes to his financial success. He asserts that living by these philosophies will help people grow and succeed.
He has several best practices for his own daily life that he recommends for others. Physically, he says wake up by 5 a.m. and go to bed by 9 p.m. Get a full 8 hours every night. He also recommends exercising at least 20 minutes a day and never eating after 6 p.m.
For emotional well being, he suggests removing toxic people form your life. He says ignore negative people instead of engaging them and if someone is dragging you down, let them go. He also recommends that with the new time and energy, you should help people that you love. He insists on honest but also warns that you don’t owe people explanations.
For mental health, he says that every day you should write down a list of ideas and names. Expand upon it and invest energy into creating opportunity and companies with the best ideas. List the productive things you did the previous day, and engage in crossword puzzles and Sudoku. Your brain is a muscle that needs exercise.
Finally, he believes in spiritual well being. He says that you don’t have to be religious, but you should send some positive energy and prayers to something other than yourself. Be grateful and generous and quick to forgive, and make a daily effort to visualize and thank the people you are grateful for in your life. Meditate for short periods of time, but visualize yourself meditating for an hour even in those 15-second windows. Finally, always learn. Study and read, learn philosophy from positive philosophers, think positive thoughts, appreciate your existence, and expand your horizons.
So what is James Altucher’s net worth already??
James has only mentioned his net worth on his podcast. Currently, James Altucher’s net worth is pretty close to $50 million, self reported. This figure is independent of property wealth, as he currently doesn’t own property or cars. In fact, he crashes with friends and at Air BNBs, and only carries a single duffle bag with a laptop, iPhone, 3 outfits, and a bag full of $4000 in $2 bill denominations. He says this is his way of practicing what he preaches regarding the meaninglessness of property and the ever changing market.