Alex Hormozi: We're giving away all our money.

In this video, Alex Hormozi discusses his decision to donate his entire estate to charity after he dies and the reasoning behind it, as well as the importance of giving back while still alive and transferring skills and experiences to others.

This video by Alex Hormozi was published on Aug 30, 2021.
Video length: 14:28.

In this video, Alex Hormozi discusses his decision to donate his entire estate to charity after he and his wife signed their wills.

He explains that they do not have children and do not believe in giving people a lot of money when they have not earned it. He also discusses the concept of legacy and how it is unlikely that future generations will know who they were or any of their character traits. Hormozi believes that it makes more sense to start giving away while he is alive and that the skills, experiences, and lessons he has gathered along his journey are more valuable than money.

He discusses his portfolio holding company, Acquisition.com, and how it is a way for him to transfer those lessons to others while he is still alive.

• Alex Hormozi and his wife Layla signed their wills and decided to donate their entire estate to charity after they die.
• They believe in the concept of legacy, but they think it's just a human condition thing and not reality.
• They have donated about a million dollars to various charities that they believe in.
• They want to transfer their lessons while they are alive to other people.
• Entrepreneurship can be born out of scarcity and insecurity.
• Money is just a game because we cannot keep any of it.
• Donating to causes is a way to give back and make a positive impact.

We're giving away all our money. - YouTube

Signing the Wills

• Last week, Alex Hormozi and his wife Layla signed their wills.
• They decided to donate their entire estate to charity after they die.
• They don't have kids and don't want to give a lot of money to their descendants who didn't earn it.
• They believe in the concept of legacy, but they think it's just a human condition thing and not reality.
• They feel like they've been given a lot and want to give back.

The Reasoning Behind the Decision

• They believe that some people are naturally good at business and get disproportionate returns on their time and effort.
• They think that giving back after they die is not really asking that much.
• They want to start giving away while they are alive.
• They have donated about a million dollars to various charities that they believe in.
• They think that the skills, experiences, traits, and lessons they have gathered along their journey are more valuable than money.

The Importance of Giving Back While Still Alive

• They want to transfer their lessons while they are alive to other people.
• They want to start now because they are going to give it all when they die.
• They are writing books, making courses, and doing all that to transfer their lessons.
• They believe that the skills, experiences, traits, and lessons they have gathered along their journey are more valuable than money.
• They think that giving back while still alive is more valuable than giving money after they die.

We're giving away all our money. - YouTube

The Value of Skills and Experiences

• They believe that some people are naturally good at business and get disproportionate returns on their time and effort.
• They think that the skills, experiences, traits, and lessons they have gathered along their journey are more valuable than money.
• They want to transfer their lessons while they are alive to other people.
• They want to start now because they are going to give it all when they die.
• They are writing books, making courses, and doing all that to transfer their lessons.

Shift in Motivation

• Entrepreneurship can be born out of scarcity and insecurity.
• Building businesses from this mindset can be a grindy, dark, and rage-filled experience.
• As entrepreneurs make more money, their motivation must shift.
• Once personal needs are satisfied, the drive towards satisfying those needs diminishes.
• Money can only solve money problems.

The Entrepreneurial Journey as a Casino

• Entrepreneurship is like a casino game where everyone is given a token to play.
• Players amass chips, but they cannot cash out and must leave the table.
• Other players take their seat and use their chips.
• Money is just a game because we cannot keep any of it.
• Money only solves money problems.

Donating to Causes Instead of Individuals

• Money is raw power that requires skill to wield effectively.
• Donating to individuals can ruin them and rob them of the opportunity to earn for themselves.
• Donating to causes allows for the transfer of skills and experiences to others.
• Money can be too much for one person to have.
• Donating to causes is a way to give back and make a positive impact.

The Importance of Earning and Achieving

• Winning the lottery or receiving a large sum of money can make everything one wants to do meaningless.
• Earning money and achieving goals is important for personal growth and development.
• Having people give status for having earned money can be an ego or insecurity-driven desire.
• Money should not be the ultimate scorecard for success.
• Money cannot buy happiness or solve all problems.

Reasons for Giving Away All Money

• Alex Hormozi has been fortunate in many ways, including being born in the United States, being a white male, and having a doctor as a parent.
• He believes that he has no more marginal utility for money and wants to focus on giving back while still alive.
• The most valuable assets he has are the lessons and skills he can provide to others.
• He plans to follow in Uncle Warren's footsteps and become a better allocator and multiplier of capital.
• He believes that donating his estate after he dies will make a larger impact than donating it now.

Acquisition.com and Business Model

• Acquisition.com invests in companies that are closer to the five to ten million plus mark.
• They take positions in those companies and help them grow.
• They do not sell time or offer one-on-one consulting.
• They do not sell courses, masterminds, or coaching.
• They are not affiliated with fake Alex Ramoses who are targeting their channel.
• The point of their channel is to provide tactical advice on growing businesses and wealth.

Watch the video on YouTube:
We're giving away all our money. - YouTube