$950 Million in 40 Minutes by Meshulam Riklis
What makes a world-class financial genius tick?
Enter the mind of a financial mastermind who started from scratch to build a world-wide business empire. Meshulam Riklis invites you on his amazing roller coaster ride to meteoric heights, providing valuable tips for life, for success, and for survival. A billionaire shares his secrets In his story, Riklis shares with you the business techniques that he perfected; how a small fish eats a big fish, his magic formula for mergers and acquisitions based on his thesis; the effective use, or rather non-use, of cash in financial transactions, and the unshakable beliefs that allowed him to found and run some of the most desired brand names in the world such as Elizabeth Arden, Faberge, Cartier, Carnival Cruise Lines, Playtex and the Riviera Hotel & Casino in Las Vegas. But it’s not all roses, right? Riklis also reveals the personal price he had to pay: three marriages, endless girlfriends, and the relentless loneliness that shadowed him daily.
Join Riklis as he rises to the top of the business world and sinks to the oblivion of despair as you draw on his inspiring ability to overcome crises.
How Did Tycoon Meshulam Riklis Make His Fortune?
Money is to look at, not to use. – Meshulam Riklis
One of the questions that I get asked on a regular basis is about the possibility of following the tycoon growth strategy without employing debt. The answer is that it is possible to do so. Over the years I have participated on the buy-side in a number of deals with debt averse buyers. One Russian transportation company comes to mind. The management team had basically been given the company for free by the Russian government shortly after the collapse of the USSR in 1991. The managers then threw themselves fully into growing the company internationally, including in the USA. However, their steadfast rule remained “no debt.” Every acquisition had to be financed with internally generated cash.
The downside to avoiding debt is that it will take longer to get started and, thereafter, growth will be slower. However, some people just prefer to avoid the use of debt. In the Playbook we focus on those who utilize well-managed debt to grow because it’s easier to start that way and the growth rate is far higher. If you are starting out without a large war chest, it’s imperative to be creative about financing. If you wait for the heavens to drop your grubstake into your lap, you will be waiting forever. The lesson is start small and fast, then build momentum.
Meshulam Riklis on the Use of Debt and Other Insights into Success
Meshulam Riklis is one of the modern era’s pioneers in the use of creative financing to acquire companies. He is also famous for coining such lines as “The effective nonuse of cash” and “Money is to look at, not to use.” They summed up his philosophy of hoarding cash to flaunt in front of bankers and other lenders while at the same time doing most of his empire building with debt financing. As the old joke goes, bankers are the most receptive to giving you money when you can show that you don’t need any.