I’d hesitate to call Scott Galloway a self-made millionaire. After all, he doesn’t even believe there’s such a thing as “self-made.”
He’s a product of the time, place, and circumstances into which he was born. Think state-sponsored access to elite education, social privilege, and graduating with the rise of the internet.
So, how much did he manage to gather over the years? Scott Galloway’s net worth is to the tune of $40 million.
Read on to learn more about his revenue streams, biggest failures, and views on wealth.
Scott Galloway’s Revenue Streams
Let’s check out how Galloway gathered his wealth.
Entrepreneurship
View this post on Instagram
Galloway started his entrepreneurship journey pretty early. During his second year of business school, he co-founded a brand strategy consultancy firm. In 1999, he got (and passed on) an offer of $55 million for the firm. He did sell later for 2.3 times the revenues, though.
After a few years, he dipped his feet into the world of e-commerce and launched Red Envelope, which he considers a not-so-successful attempt (more details on that later).
But he struck gold at the next attempt. Galloway believes his “big win” was founding and selling L2. I can see his point, too. I mean, the company was sold for $158 million. Plus, he only had to do a single round of venture capital, so he had plenty of equity.
Speaking Gigs
Scott Galloway reportedly makes $5+ million every year from speaking gigs alone.
When you consider that he can charge $50,000 for a virtual event and a whopping $250,000 for an international event, the figure starts to make a lot more sense.
Podcasting
Been saying this for a year: #TikTok should be banned.
Thx @billmaher @RealTimers pic.twitter.com/xaGaG6J02M
— Scott Galloway (@profgalloway) March 26, 2023
Galloway has been co-hosting “Pivot” for years. Today, the podcast is one of the top 100 shows on iTunes.
He also hosts “The Prof G Pod.” Although this one isn’t among the top 100, the portfolio will register a revenue of around $10 million in 2025. Can you imagine the sort of money “Pivot” brings in?
Teaching
The podcast name is probably enough of a giveaway that Scott Galloway is also a professor. He teaches marketing at NYU.
That said, this isn’t really a revenue stream because Galloway donates 100% of the salary.
Books
Galloway is also the author of five books, including the New York Times Bestseller, “Post Corona.”
4 Must-Know Facts About Scott Galloway
Before wrapping up this post, let’s check out some interesting facts about the millionaire.
1. Red Envelope and Netflix are Two of His Professional Mistakes
Galloway believes his number one failure was Red Envelope. He got emotionally involved and lost 70% of his net worth.
He also considers investing in Netflix an egregious error. He bought shares at $12 per share and sold a few months later at a loss.
2. The Key to His Success Is Rejection
Why can’t we all get along pic.twitter.com/UhojWrJBZX
— Scott Galloway (@profgalloway) July 19, 2023
In an episode of “My First Million,” Galloway revealed that rejection was vital for his success. He learned to endure rejection and move on.
Apparently, he received a whole lot of rejection over the years—from capital providers, the marketplace, and women.
3. He Thinks a 6-Figure-Income Won’t Save You From Being a “Working Poor”
Galloway believes wealth is all about a person’s income-to-expense ratio and gives two examples to support this theory.
The first is one of his friends who makes at least $3 million a year but has tons of expenses to cover (child support, alimony, etc.). The second example is Gallowy’s father, who earns about $52,000 and spends $48,000.
So, you could say that this friend is one of the “working poor,” while the professor’s father is technically rich.
4. Economic Fear Has Always Haunted Him
Despite being worth about $40 million, Galloway is still haunted by economic fear.
Ever since he was young, financial security was super important to him. He didn’t want to become a “good” person, save the planet, or build a family. Instead, he just wanted to be wealthy.
Final Thoughts
What about you? If you were worth $40 million, would you still be worried about money?
