How Grant Cardone's Daughter Became a MILLIONAIRE at 14...

How much do you spend per month personally?

Not much. I don't spend a lot of money.

What do you think you spend per month?

Like $50,000, $100,000 a month.

Yeah, maybe.

You don't know if it like you you have no idea how much money you're spending per month.

Uh well, I mean, I could figure it out pretty quick right now. I don't I don't have a mortgage on the house.

Like what's on the MX statements?

Oh, that's most of that's going to be run from the through the company. So,

it's all business. This trip I'm on is a business trip. So, I have a secret

business trip. So, I have a secret meeting tomorrow here in town that I can't talk about. You'll know about it on the 13th of this month, but it's funny. I asked about it. You wouldn't

funny. I asked about it. You wouldn't

even tell me.

It'll be all over the media on the 13th.

I didn't know what it is.

But but it's a secret meeting that I'm sworn to bought the Hard Rock.

No, that's crazy.

Um that that that's something I wish I could do. Like

could do. Like I would love to own one of these big places but I'll leave that to I could see you as a casino owner. Like

a Steve Win like like you know how much you spend per month.

Oh yeah. So what do I spend a month?

like your wife, your kids.

Well, I mean, I get I get notices $27, $42. You get notices for that stone.

$42. You get notices for that stone.

Everyone my kids credit cards are tied to my phone.

And what do you look at? Just the dollar amount or what?

I hit my wife yesterday. I said, "Who the hell keeps hitting this goddamn account for $12765?"

Who was it?

She's like, "Oh, I'm buying uh Sabrina some clothes for this event she's going to do." I said, "Okay, okay. It's

to do." I said, "Okay, okay. It's

approved."

At what point?

Like like like my yesterday Elena hits me. Hey, uh, I got a bid to clean the

me. Hey, uh, I got a bid to clean the deck up on the house. It's I got one bid at 8,000, another bid at 12,000. I want

to go with the 8,000. Is it approved?

I'm like, yeah, it's approved. But I

even said, "Hey, don't do the stain. It

doesn't need to be stained."

That's funny.

Sand it. She's like, "It's more money to sand it. I've already done it." I said,

sand it. I've already done it." I said, "I don't think they can stain, right?"

She's like, "Oh, yeah, they can." I

said, "Okay, it's a brute."

So, I don't know. I don't know.

What dollar amount do they need to run it by you before spending the money?

Uh, it depends on who it is in what department. Like the ad budgets that

department. Like the ad budgets that Jared runs.

No, this is you personally. This

personal stuff.

Oh. Oh, they're supposed to run everything but me, you know.

So, even like parking?

No. No.

They listen. Valet is

No.

And you don't give them like a certain budget per month that they can or can't spend.

Well, who are you talking about?

Like your family. Like the family. Oh,

no. No. No. No, I didn't understand that. My wife has her own money.

that. My wife has her own money.

So, she she she has her money and my kids have their money. So, my kids like, "Hey, I need some money for Dude, you got money, dude. Don't call me."

They kids never call me for money. They

call their mom. That's why I keep seeing these credit card things cuz the mom always does. They will never call me for

always does. They will never call me for money because they know I'm going to say, "You got your own money."

And how are your kids making their own money? because they invest, you know,

money? because they invest, you know, they had a salary to work for the company. I thought we talked about this

company. I thought we talked about this last time, but the kids have a salary.

They have a responsibility. They haven't

gotten their salary this year. And if

they're watching, they haven't done what they contracted to do, so they won't get their salary.

Would you ever fire your kids if they're not doing a good job?

100%. Dude, would you fire everybody?

No. No. No.

Yeah, dude. I I I I had a text message you

dude. I I I I had a text message you went out today. Hey, both of the kids are not performing their duties. Don't

pay them this year.

So, are you worried about violating some labor? Now,

labor? Now, what we did, let me just go back and back. No, look, if you can't abuse your

back. No, look, if you can't abuse your kids, who can you abuse, right? So, um

and if you can't write your kids off like like you, every family should be writing their kids off as a write-off as a tax deduction. Not I can't write off an allowance.

So, if I give my kids 500 bucks a month, it's an allowance. It's an entitlement.

It's like it's a give me You can't write that off, but if I give them $500 a month as a salary, but then they have to pay tax on it.

That's right.

Yeah. But it's a way that you can you can what I do is I pay them I pay them one fee a year. I think I think the number's 50 grand. 50 grand a year they get.

Now I could give the the the 15year-old a $50,000 check, but it wouldn't be a responsible thing for me to do. So how

do I control that? I take the 50 grand.

I say this is you were paid 50 grand.

Better for them to pay taxes than me.

Yeah. Yeah.

And then I take the 50 grand and I divert it to Cardone Capital so they become an investor in my project.

Do they want to?

I get a 50. I get I get I get a one point one point when they buy one.

By the way, at one point my kid and my wife and by the way you'd pay the same one point. You're saying everybody

one point. You're saying everybody say they preferred in that in the case of the last deal.

They would they're all invested in that deal by the way. Every one of my family members are investing in that deal. My

brother, my sister invested in those deals and my kids and I at one point on the way in and on the way out. Okay?

So, watch what happens now. Um, that

money then goes to Cardone Capital and it if it pays cash flow, then that's what they live off of. So, let's say they invested 50 grand into that project and it paid 5% a year, they're only

going to get 5% 2500. What is that? 25

$200 a month. So, how much can they spend a month? How stupid can you go?

You can go as stupid as your cash flow.

So, they can spend $200 a month off that one investment. Now, Sabrina's got like

one investment. Now, Sabrina's got like $8,000 a month coming in cuz she's invested in every project. So, she could spend eight grand a month. She's 16

years old, done with co high school. She

gets 8,000 every single month. Papa, I

want a Cardier uh um panter. I'm like,

"Buy it yourself. [ __ ] it. You got your own money."

own money." And she does.

I know what she's got. I know what her net worth and she's like, "Nah, I don't want it that bad. You buy it for me."

that bad. You buy it for me."

When do you think she's going to be a millionaire?

Well, uh, she already hit it.

Yeah. Did she?

Well, she's getting 8,000 a month, so $100,000 a year.

There was another deal. There was a deal that I tal I can't talk about. It was a private deal that I can't talk about, but she as part of this transaction and

negotiations earned a million dollars.

Wow. Earned $1 million.

$1 million. She was 14 years old.

What did she do with the I can't talk about it more than that, but it was I've mentioned it already in the interview today.

I I'll give you that hint.

Okay. And but I can't go into the details of how what she did. She did I mean it was nothing nothing weird. I

mean it was but it was something brilliant.

Did that change her mentality when it comes to Well yeah because the next year last year she owed $400,000 in taxes. I said

but you understand you have a million dollar. You can only use 600. She took

dollar. You can only use 600. She took

the 600 and immediately invested it.

And I said you she's like why do I invest a whole million? I said because you you got a $400,000 tax bill next year.

It it's actually going to be 380. She

doesn't have the tax.

Why wouldn't you have her get something where she gets bonus depreciation on that and then can she needs in that case? She she just couldn't get enough to get it and she's not a professional

real she's not uh uh she doesn't she doesn't fall under 469 that the 469.

That would be the first thing I'd do is get get her to qualify real estate.

Yeah, you're probably right. We didn't

do that. So, you know, um and Wow.

What kind of car did you end up getting?

We got her a Tesla.

Okay. Model which one?

Uh why? What's the entry level?

That's what I That's what you got picked up in.

Yeah. Yeah. That's a great car.

Yeah.

Yeah. I did that really to support Elon.

Do you talk with Elon?

No, I never have.

Do you talk with Trump?

I have.

Have or do?

I have and do.

Yeah. They did the interview together.

So you Yeah. But like but when I Sure.

But like does that mean that you know you could shoot him a text and he'll like I could What's the last conversation you guys had? Christmas Day.

had? Christmas Day.

What did you say or what did he say?

Just tell him he's doing a great job. My

wife was like, "What? Why are you calling Trump on the president?"

You called him.

Yeah. On on on on Christmas Day. I said,

"Because probably nobody else will."

That's true. If he's getting one phone call that day, you know, his phone's not going to be blown up.

And what did he just say? Merry

Christmas. Like, hope you're having a great day.

Yeah.

He says, "Wait till you see what I do this year."

this year." That's hilarious.

Yeah. Yeah.

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