RICH KLEIMAN IS 1/2 of sports entertainment group Boardroom’s success. Alongside NBA superstar Kevin Durant, the two have built an empire within the sports and entertainment world. Kleiman discussed all things wealth in the latest episode of Men’s Wealth; the entrepreneur reveals his favorite way to spend his money and more in the latest episode.
When it comes to time off, Kleiman revealed that he loves to splurge on vacation and traveling. He shares that he loves to explore new cities and resorts. When it comes to his favorite place to travel? He says the Caribbean: “I love being in warm weather and being able to take people on vacation.”
Regardless of his means to travel freely now, his success did not come overnight. The businessman shared: “It took a lot of hustling and building until I was around 40, and at 40 is when I saw the fruits of my labor.”
“When you start to build a business and the main focal point of that economy you have is someone who gets paid for sponsorship and paid to show up on behalf of a brand, we had to think creatively about how we were going to build some of our opportunities and continue to build our network and access. Being in Silicon Valley at that time, sometimes when you want to be in a certain world you have to invest in yourself and pay to play a bit. Even though every investment we believed in, there were times where we had to take a leap of faith.”
Kleiman advised that the worst thing you could possibly do is invest in something you don’t have a lot of knowledge in. He advises not just looking at investments as something you can profit from, but as something you partially own and believe in bringing into the world.
When it comes to making good money decisions, he suggests taking your time and “slowing down” to think about your decisions. His favorite investment so far? Postmates.
“It’s still early days for Postmates, not just because of the success Postmates has had, but it will always remind me of the beginning a bit,” he said. “I remember when all this new on-demand access was available and it will always kind of represent the beginning of this era for us.”
To watch Rich Kleiman’s full episode, scroll above.
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