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- [00:00]
A
Today on Real Estate Without Borders, we are going to be talking about rich people, I think, right?
- [00:05]
B
Oh, it's only rich people today. Today's going to be a fun one because we're just following wealth migration, I think, to, to an extent. And we're going to talk about where they're moving, where the billionaires are going, why they're going there, and we're to compare different cities and countries on where these immigrant billionaires are going to. And I think this what a fun topic. Who doesn't want to know where all the billionaires are going? I want to go.
- [00:32]
A
And so we're going to start with where they're going, and then we're going to go to where they're coming from in the U.S. so immigration, emigration of billionaires and the countries that they're going to. The, the chart that we're going to put up is that we're going to start with comes from Henley and Partners, who have been on the show, by the way. We had Basil from Henley and Partners, but. And it was posted on Twitter by another friend of the show, Alessandro Palumbo, who came on. Let me just pull it up here. Basically, it shows. So it's a percentage of total. So it's, it's like it's really relative, right? Well, it's very relative. So in terms of relative percentage of growth, this is what Alexandra's tweet says. Why is Montenegro attracting so many millionaires? In terms of relative percentage of growth, Montenegro is winning even over the UAE. The tax rate is 9% and there's worldwide income. What am I missing? And if you look at the chart, Montenegro's millionaire growth is from 2014 to 2024 is 124%. Now, bear in mind that that's not a huge sheer number. Like, from a volume perspective, it's only 2, 800 millionaires moving to Montenegro compared to the UAE, which is in second at 98%. And 130,000 millionaires moved to the UAE.
- [01:49]
B
Wait, can you explain that again? So how, how are they, how are they getting this, this calculation as there's a. The. Like, what's the difference between those two?
- [01:57]
A
Like, how the percentage is the growth. They Montenegro had, let's say 1400 millionaires in 2014. And so it's. They had a low base. Right? It's really easy to grow from a low base. So if you only had a thousand to begin with, to go to 2800 is a much smaller jump. You only need, you know, 1800. Whereas in the UAE, if you had 70,000 before. To get to 98%, you need another, you need a, you need 70,000 people or 75,000 people to get to that number. It's easy for them to post big numbers.
- [02:32]
B
Interesting.
- [02:33]
A
Yeah, so I get it. Let's just blow through the list first here. So I'm going to. We'll go through the list and we'll say the percentage of millionaire growth and then we'll go through the list again and say how many millionaires live there? Montenegro, 124%. The UAE 98%. Malta, 87%. Poland, 82%. The USA 78%. China, 74%. Costa Rica, 72%. India, 72%. Latvia, 70% and Panama, 69%. Anything stand out to you there?
- [03:08]
B
I've heard a lot about Poland, but I haven't done enough research about it. But Poland kind of stands out to me. There's.
- [03:13]
A
Yeah, we talked about Poland on the show already. Like they basically are just really crushing on a GDP per capita basis. Like it's really a standout economic performer in the, in the, in the EU right now.
- [03:23]
B
Yeah, that's interesting. And then also I think Latvia, like, I don't think we've done enough. Labia, we've actually had. And number 10, Panama. We have an episode with an agent who is from Canada and, and has relocated and selling in Panama. If you guys are interested in listening to that. It's, it's kind of a good, it's a lot of good information on that one too.
- [03:41]
A
Panama, Costa Rica makes sense to me. Right. I think that that's probably U.S. capital or Canadian capital or North American capital moving to those countries to live there. Plus you probably see some domestic growth in millionaires. So you're probably seeing, you know, some Costa Rican folks who maybe own some real estate or whatever. And they, they, they went from being only worth 500,000 to being worth a million when property values tripled over that 10 year period of time. And then I think that domestic growth in millionaires probably is also apparent in China and India. You know, in China and India, basically their economies have been growing like crazy. Right. So from 2014 to 2024, I mean, India and China, China less so because they've been coming down a little bit. But India, I mean, tons of growth in just wealth there. So probably those are millionaires that are created within the country, not moving. There's.
- [04:35]
B
Oh, that's actually interesting. That's a good perspective of that. I honestly never even thought of it like that.
- [04:39]
A
Yeah, so the, the question that was Asked in the thread. Actually, let's go through the number of millionaires first. So do you want to just take me through this list again and just read the country and the number of millionaires in each country? Because the big one like the crazy part to me is like the US has 70, 78% growth and that's 6 million millionaires, right?
- [05:00]
B
Yeah, yeah. The numbers are like when you. Actually, the first list we went through there was the percentage. Okay, now let's cover the actual number of millionaires in these top 10 places. Number one. So Montenegro 2,800 millionaires. UAE 130,500 millionaires. Okay. Malta 12,200. Poland 41,700. USA is literally just over 6 million. China 827, 900. Costa Rica 8,400. India 310,000. Latvia 3,400. Panama 7,500. Maybe like a special shout out to the. There's also a column here that's talking about the centimillionaires and billionaires. So I'll rip through those quick. €22 centimillion was that? Yeah, 10 million plus. Yeah. UAE 325. Malta 71. Poland 82. USA 11. Interesting.
- [05:58]
A
But look at how many billionaires there are in the US that's the funny part. Yeah, we'll do billionaires after.
- [06:04]
B
Yeah, yeah, okay, okay, I'll do that after. So sent to billionaires or sent a millionaires. Sorry. So Poland 82, USA 11. China 2. What? Costa Rica.
- [06:14]
A
It's basically, it's like, there's like a disparity. There's no middle class and rich people, man. It's like there's you're either like a poor rich person and just a millionaire or you're, or you're super rich. Honestly, I think that's really the case. Like if you can, if you can figure out how to make a hundred mil. I mean it's probably not that much different to make a bill. Some billionaire is going to come in and be like, you have no idea, buddy.
- [06:35]
B
It sounds easy, dude.
- [06:37]
A
But you know, I mean, if you're in that 100 million, like if you're a centimillionaire, that's, you're, that's basically 100 mil all the way to 999 mil. So I mean really, as long as you were a decent capital allocator in the last, like in that 10 year period, you probably, it probably wasn't that. Like if you're, if you're skilled enough to get to a hundred mil, you know, it shouldn't be completely out of, you know, like, because. Because remember millionaires? Like, the number of millionaires that.600 or, sorry, 6 million millionaires in the U.S. that's a million all the way up to 99 million, right? And then you get to centimillionaires. So there's a lot of very rich people. Like, I think most people. I mean, most people would be happy being a millionaire, but mo. But, like, to be. To have like 9, you know, 50 million or 20 million or 90 million would also be very happy. Like, most people would feel like that's basically being a billionaire. Right?
- [07:27]
B
Right. No, it's not. But we need a billionaire to come on the show and tell us how to do it asap.
- [07:34]
A
I met with a billionaire the other day, and just normal folks, right? Some. Some of them. Some of them are into some weird shit, but most of the ones that I've met are pretty normal guys.
- [07:42]
B
I need to meet some YouTube. Like, I need to meet, like, Mr. Beast or something. I always see. I watch a lot of that just stuff just to melt my brain sometimes. And it's interesting.
- [07:50]
A
I just do it to learn how to be better at YouTube. Like, he's just got it so dialed, right?
- [07:54]
B
Insane. It's crazy. It's crazy what he does. Okay, so wait, where we leave off? USA, 11 centimillionaires. China 2. Costa Rica 42. India 990 2. Latvia 18. Panama 35. Now billionaires in the same order, starting with Montenegro. Billionaire billionaires 2. That's kind of a flex, though, living in Montenegro. And I am One of two billionaires. Sick. UAE 28, Holand 5. No, wait. Sorry. Malta 5, Poland 7. USA 867 billionaires versus 11 centimillionaires.
- [08:31]
A
I don't even know if I know 867 people.
- [08:34]
B
D. I don't know. 11. I don't think that's crazy. That's. That's dumb money. That's crazy. Love it. I love seeing people. We both do. We're big. We're big.
- [08:44]
A
I like seeing people win for sure.
- [08:47]
B
China 278 versus 2 centimillionaires. Costa Rica 3. Billionaires. India 114. Latvia 0. Panama 3. Crazy.
- [08:59]
A
So crazy.
- [09:00]
B
I. I think the cool thing about this is that is. And this. This chart and this episode and our show, to be honest, is like, let's research this together. Because the cool thing about this post is we're actually trying to find out why is it Montenegro that's attracting so many millionaires? Like, what. What is it? About Montenegro that's attracting these people. Why are they going there? I'm guessing the easy answer. Like we can scroll through the comments because I think everyone's got their little, their input. But like why? It seems as though tax obviously is a big thing. I think I saw 9% tax. Did you see this one go up?
- [09:41]
A
Commandments? Yeah, yeah, yeah. I think it's a joke. I think people are trying to call them lazy. But no, I mean like, look at this picture here. Right? Like, right. The. One of the, one of the top comments is like, have you not seen Montenegro? And it's like this beautiful natural port between mountains. Like it looks like one of the most beautiful places in the world. Right? So yeah, let's go through some of these comments and see what the commenters had to say. Like so, so somebody sent that picture and Alessandro's like, yes, but why not Cyprus then? Right?
- [10:05]
B
And so I don't, you know what, I had to Google this because I don't know where Cyprus is. I did ask chat GPT and I, I have some points here as to why Montenegro and not Cyprus. So they're saying there, my buddy Chachi BT is saying Montenegro has this like supercharged growth. It's a steady stream of wealthy newcomers, not just tourists, permanent residents. And serious investment power. They have tax efficiency. So personal tax is flat 9%. That says rarely exceeded even for high income earners. No inheritance or gift taxes, which is a major draw for wealth preservation. Obviously the luxury coastal lifestyle. It's got three landmark marina residential developments which maybe I should, we should look at Porto Montenegro, Lustica Bay and Porto Novi are attracting global elites with upscale home homes, resorts and nautical living. So they must have like a bunch of new developments there. I'm going to find out what these are here and I'll send them over.
- [11:07]
A
And I guess the idea is that like these areas with the nautical lifestyle, like Costa Rica has really been doing that too. They've been putting a lot of like these like yacht friendly areas around the coast. I think that that's like an easy way to attract rich people. Make it yacht friendly.
- [11:19]
B
Yeah, yeah, yeah.
- [11:21]
A
Put, put theme parks for their favorite activities. Yeah, whatever.
- [11:26]
B
I'm gonna text you this one. It's called the one and only. I'm gonna text it to you so you can pull up some of the info on it. It's like a, like it's almost like owning in a resort, but like private homes. Like you just said, it's just an amusement park for rich people.
- [11:41]
A
So one of the comments said Maybe you're missing, missing the fact that Montenegro offers EU access without EU tax slavery. It's got low tax, lacks bureaucracy, a strategic location and a government that wants high net worth migrants. Compared to the west where success gets you punished. Montenegro is basically running the opposite playbook. Why not Cyprus? Cyprus is great on paper, but you're in the EU's direct tax net and under Brussels thumb, the cost of living is higher, real estate is already inflated from years of foreign inflows, banking is slower and compliance heavy. Montenegro gives you a cleaner slate, cheaper buy in and more room for upside. It's still early game. So I mean that, that all checks out to me and I think that if you look at reasons why people are going to the UAE as well. Right. Why are people going to the uae? Well, because they're, this is all the same things, right? They're, they respect capital, right. They're not. Success isn't, isn't punishable. You don't get in trouble or you know, shamed for being successful in creating wealth. It's less bureaucratic. You know, the UA is the same thing. A lot of capital moving to Saudi, a lot of areas in the, in the like kind of wealthier Middle East. There's, I think they're all for the same reasons.
- [12:52]
B
That's actually like super. Maybe it's just hitting home for me right now, but what a crate. What a, what an incredible point. It's just all these like man, where, what's going to happen to places in the west if all these places like here and are becoming more and more discovered as our show becomes the most popular show in the world and everyone sees what's going on out there. Real estate and globally. It's like there's so many opportunities for people that are, are high income earners where they like you said, don't get punished for earning more and, and trying to level up, you know.
- [13:25]
A
Yeah, also Montenegro is a sick name. Like it's a sick name. Sounds like a James Bond movie. Is there has to be a James Bond movie like about that. But so there's that one.
- [13:34]
B
The second I go to Montenegro I'm like well we gotta book up, we gotta go to Montenegro. I don't even know where it is. I'm gonna find out.
- [13:40]
A
Let's, let's see what houses look like there. Like that to me is like also the big question, right?
- [13:44]
B
Hold on, where's Montenegro man?
- [13:46]
A
Mon of Albania.
- [13:49]
B
Interesting.
- [13:50]
A
In the Balkans.
- [13:52]
B
That's sick too. The Balkans.
- [13:54]
A
Sick name. Like you literally would say feel like a James Bond vill villain.
- [13:58]
B
If you're like, it's literally right above Albania.
- [14:02]
A
Yeah, interesting. I love it. This is the segment of the show Dave learns geography. Dave looks at a map for the first time in three weeks.
- [14:09]
B
Yesterday I was driving to Whitby. Is I. I'll be. If there's no police listening.
- [14:14]
A
I, I also how many billionaire. What's the billionaire growth in Whitby, Ontario?
- [14:20]
B
It's probably growing, probably a couple. But I was like looking on the map and I'm like, Whitby.
- [14:25]
A
Wow.
- [14:26]
B
It's Brooklyn. What's over here? No, Montenegro. Okay. This is crazy.
- [14:29]
A
These are sick houses too. Like the part that I find cool, I don't know but this house looks beautiful. Like so like what's that 400?
- [14:36]
B
What?
- [14:37]
A
500K? This is, it's like this is probably a semi. Like it's probably a unit. Yeah, but like a condo. I mean I guess it's not that good of a deal. It's expensive.
- [14:47]
B
It's like brand priced in.
- [14:48]
A
It's priced in. That's a nice little community though. It always blows my mind like how crap the MLS's are outside of like North America.
- [14:57]
B
How do people buy real estate stuff? It's crazy. Look at the pictures. This, this guy must not be getting commission. Must be a flat, flat fee realtor.
- [15:07]
A
I mean the photo, like the photos are good but they just got like compressed and it's like a weird thing.
- [15:12]
B
I'm going to, I'm going to map.
- [15:13]
A
This is a three bedroom apartment, 178 square meters. So like 2000 square feet or 1500 square feet.
- [15:19]
B
Wow. Okay. I'm trying to see here. I got like average home prices based.
- [15:22]
A
On some brand new ones. These are like what you were saying about those like resort developments. Montenegro, newly built apartment with seaview in Kotor Place. Kavak. Sorry if I offended anyone with my pronunciation there.
- [15:35]
B
I think you nailed it, man. I got here based off chat GPT. Mainstream home prices range between 1300 and 2800 per square meter. Outside the luxury marina areas, prime coastal like new build will run they say around 3,500 to €6,500 per square meter. Not square foot. And then like Porto Montenegro, which I guess so those three part. The three main spots in Montenegro are Porto Montenegro, Porto Novi and Lustica Bay. And they're around 8,000 to 12,000 Euro per square meter which if I'm not mistaken, last year when I went to Greece I inquired about this new luxury project in Athens and I believe it was around 8,000 per square meter. And I was like, whoa, all right. I could be wrong. So if we have a, any like, Greece, Greek realtors on here, please correct me. I could be wrong. But that's, that's what I'm seeing here.
- [16:41]
A
Interesting. Yeah, very cool. I, I, I always find it fascinating to find, to, like, see where wealth is coming from or. Sorry, go where wealth is going to. We are going to talk about where wealth is coming from, too. Should we get to that?
- [16:54]
B
Yeah, let's get to that. That was cool. I'm excited. I want to go to Montenegro.
- [16:57]
A
Yeah, we'll have to have somebody on. If you know anybody on from the real estate scene in Montenegro, tell them and come on the show. Give us a show. We'd love to talk to them, figure out what's going on there. Crazy. Okay, now we're going to talk about America's top immigrant billionaires.
- [17:12]
B
Love it.
- [17:13]
A
This is from our favorite. I feel like we've gotten so many episodes from Visual Capitalist. These guys are so where, where are the, where billionaires coming from that are not American, that were not American born? America's ten richest immigrant billionaires, number one. Who is it?
- [17:29]
B
Oh, Big Elon, the most loved hated man right now, I think on the Internet.
- [17:35]
A
I mean, you know what? I always think about this. Like, you go back and think about, like, household names, right? Historically, you know, Cleopatra would be like a household. Like, everybody knows who Cleopatra is. Right. Kind of, like, loosely.
- [17:49]
B
Yeah.
- [17:49]
A
Right. Hitler. For obviously the wrong reasons. People know who he was. Cleopatra, probably good reasons. I don't know. I mean, I don't know. Jesus. You know, Muhammad. Like, a lot of people know who all of these things are. Right. Like, so, but, and then you get into, like, mod, the modern era. Arnold Schwarzenegger, maybe. Maybe that's just a Western thing. But, like, I feel, I don't know, I feel like everybody knows who that is. Right.
- [18:12]
B
Of course.
- [18:12]
A
Donald Trump.
- [18:13]
B
Yeah.
- [18:14]
A
Would hear, you know, like, obviously US Presidents, I think, like, you know, politicians, Xi Jinping. I feel like everybody knows who that is, I think. Right.
- [18:23]
B
You lost me on that one. That's okay. I'm following. I got most people for sure.
- [18:29]
A
Yeah. Arnold. I feel like Arnold was like a recognizable, like, name. Right. I don't know if there's anybody else, like, in the, in the, in the famous people. Maybe Kim Kardashian or something like that.
- [18:40]
B
Yeah, I guess, depending on what you're looking at. Like, I feel like that's a lot of females are more into that. But I mean.
- [18:47]
A
Right. Yeah, there's probably some other ones in there that I don't. I'm not thinking of. But Elon Musk is certainly on that list from my perspective. Right.
- [18:53]
B
For sure.
- [18:53]
A
Is everyone in like, the. I would say like the majority, maybe the majority of the world's population is an overstatement because I think there's a lot of people who just like, live in like, ignorant bliss and have know who nobody is. Right.
- [19:03]
B
And I want to get there one day.
- [19:05]
A
Yeah. I, like, I don't. I, I, as somebody who's like in, in our scene, like in Canada, who's like, reasonably well known what you are as well. I actually don't know if it's all. That's like, you know, like, I think it's a Jim Carrey quote, right? Where he's like, I. I hope everyone gets a chance to become rich and famous, to like, understand that it's really not all it's cracked up to be or something. I don't know. It's like I, I butchered it. But it's like, along those lines. Right.
- [19:28]
B
I'll find it for you.
- [19:29]
A
Yeah. Find that for me. So, number one, Elon Musk, the richest immigrant billionaire in the U. S with a net worth of $393 billion. Number two.
- [19:40]
B
Wait, did we say where he's from?
- [19:43]
A
He's from or.
- [19:43]
B
We're not doing that yet.
- [19:44]
A
He's from South America. Do. I don't even have South Africa. South Africa. Sorry, did I say South America?
- [19:48]
B
It's okay. I got. Well, I only just basically based off of his flag. That's the only flag I know.
- [19:53]
A
Do you actually. That's epic. I didn't. I mean, I knew that he was from South Africa, but my dad's South African.
- [19:59]
B
He was born and raised in Johannesburg. Yeah, yeah.
- [20:02]
A
Where's your accent? Where's your billions?
- [20:06]
B
I got no billions. I'm not even a senti millionaire. This is kind of. But soon, soon the rest of the flags I don't know. So I got number one and that's it.
- [20:16]
A
So Sergey Brin, Russia 100. Yeah. Co founder of Google. Russia.
- [20:23]
B
Google. Oh, dude, I did not know that.
- [20:26]
A
There you go. This is why we do the show, to teach Dave stuff.
- [20:28]
B
Okay, wait, let me hear this.
- [20:30]
A
But that's the thing. Like, you know, one of the super wealthy dude full under, pretty under the radar. I think, like, most people in like, kind of tech rich people world know who he is. But like, I, I knew from. What's that, that Netflix show back in the day with Undercover Boss. No, no, no, no. Kevin Spacey. The way he was like the president of the US Anyway, he. They mentioned him in there and I just like started googling. That was like 10, 15 years ago now.
- [20:53]
B
But okay, I'm not gonna look at the flags, I'm not gonna look at their screen and I'm gonna guess by the flag. You say, you tell me the name. What's next?
- [21:00]
A
Jensen Huang.
- [21:01]
B
See, I know.
- [21:02]
A
Founder of Nvidia.
- [21:03]
B
Really? I'm gonna go Taiwan.
- [21:07]
A
Yeah, no, yeah. I mean he's a. He's in the semiconductor space and Taiwan's good at Semiconductors, right? TSMC T. Taiwan Semiconductor Manufacturing Company.
- [21:17]
B
It was 50, 50 Filipino or Taiwan. And I just went with Taiwan because that's it.
- [21:23]
A
Amis Pederfy, Founder of Interactive Brokers. Do you know what that is? It's like Bloomberg Terminal, kind of like. It's like investment trading software for your computer.
- [21:31]
B
No. Interesting. What's it called?
- [21:33]
A
Interactive Brokers.
- [21:34]
B
I'm gonna look that up. Oh, I've seen that.
- [21:36]
A
He's from Hungary.
- [21:37]
B
Wow. I was going Italy.
- [21:40]
A
Miriam Adelson and family inherited Las Vegas Sands casino empire.
- [21:45]
B
Israel.
- [21:46]
A
Israel. Rupert Murdoch and family built a global media empire. News Corp. And Fox uk.
- [21:54]
B
He. He found. What was this thing?
- [21:55]
A
Not uk.
- [21:56]
B
Not uk. No, wait, hold on, hold on. Great Britain.
- [22:00]
A
No. Where. Where did. Where did Great Britain used to send all their criminals?
- [22:04]
B
England.
- [22:05]
A
No, Australia. Australia. Australia.
- [22:08]
B
Mate, these flags me up though. I shouldn't have sworn. Oops, there goes.
- [22:11]
A
I did it already too.
- [22:12]
B
Yeah, they look the same. No, they're pretty similar.
- [22:16]
A
Yeah, kind of like, I don't know, the Union Jack is on the Australian flag. Like that thing in the top left hand corner of the Australian flag is the British flag, the Union Jack actually. Cool thing about the Union Jack is it's literally the flag of Scotland and England. And what's the other one? Not Ireland. Wow. I'm so ignorant. Anyway, it's all of them combined. You. If you overlay them, you get the Union Jack. Let me just show you.
- [22:46]
B
It's a bad guy. In the meantime, while you're opening it up, I have Jim Carrey's quote for those that were on the. Hanging on by the. On the. On the edge of their seats. I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it's not the answer.
- [23:01]
A
There you go.
- [23:02]
B
Pretty powerful stuff.
- [23:04]
A
Check this out. Okay, so you get the England flag. Scotland. Oh, it was Ireland. They had the old Irish flag before they had the three color one, the tri color one. So St. George's Crossing, Ireland. Is that. See that St. Patrick's saltire below at the bottom there?
- [23:20]
B
Got it.
- [23:21]
A
That was their old flag.
- [23:22]
B
Got it.
- [23:23]
A
They had St. George's Cross, St. Andrew's Cross, which is blue with the, with the white. So they. And they combine them all. Sick.
- [23:30]
B
That is sick. What's union flag?
- [23:32]
A
The Union Jack. That's their flag. Union flag. That's the. That's the uk. United Kingdom. Interesting because there was these three kingdoms, England, Scotland and Ireland.
- [23:41]
B
That is pretty sick.
- [23:44]
A
Cool, right?
- [23:44]
B
Very cool History stuff.
- [23:47]
A
Hey, you know we do. We cover everything on this show. You know, a little bit of geography.
- [23:53]
B
The older I get like you, you try to tell me that in grade nine and I would have been eyes rolling in the back of my head as a 36 year old male. I'm just jacked up about it.
- [24:02]
A
You're like, wow, so exciting.
- [24:05]
B
And after the episode, I'm gonna grab my bird binoculars and scope out some birds after.
- [24:12]
A
Okay, who we got next here?
- [24:13]
B
All right.
- [24:13]
A
Peter Thiel.
- [24:15]
B
Germany.
- [24:16]
A
Yeah.
- [24:17]
B
Maybe Hungary.
- [24:18]
A
That's Germany. Yeah, we already did Hungry. Peter Thiel, early Facebook investor and PayPal Co founder. Part of the PayPal mafia with Elon Musk.
- [24:27]
B
So here's part I was going to say he's with. With Elon. Interesting.
- [24:31]
A
Jay Chaudhry, founder of Zscaler cloud security firm. Never heard of it.
- [24:36]
B
India.
- [24:36]
A
Yeah, yeah. India. Jan Kuhn, co founder of WhatsApp. Acquired by Facebook. Good Ukraine job, Jan. Yeah, Ukraine.
- [24:46]
B
Say that again. He's the founder of WhatsApp.
- [24:48]
A
Yeah.
- [24:48]
B
Wow.
- [24:49]
A
Which was acquired by Facebook.
- [24:50]
B
Yeah, yeah, yeah. Wow.
- [24:52]
A
Yeah. Ukraine has a huge comp sic in like computer science, coding, all that stuff.
- [24:57]
B
Interesting.
- [24:58]
A
John. 2. 14 billion. Co founder of Kingston Technology, which I really remember a lot from USB keys back in the day. Remember, like USB keys? Everybody else said Kingston on.
- [25:08]
B
Yeah, that's his.
- [25:09]
A
I guess so. Yeah. China, man.
- [25:11]
B
Johnny's killing it.
- [25:13]
A
Go job. It's freaking usb. He was everywhere, man.
- [25:17]
B
Wow. Does it say their actual. Does it actually cover their exact net worth?
- [25:24]
A
Yeah. 14 billion, John.
- [25:26]
B
Oh, that's right. We said this already.
- [25:28]
A
Right, right, right.
- [25:28]
B
Elon's got 393 billion.
- [25:31]
A
A lot of paper wealth. Right? No offense, Elon. Like that. He's. He's commented on one of my tweets before, actually.
- [25:36]
B
Elon.
- [25:36]
A
Yeah, when, when it got retweeted by the vp, by JD Vance. He commented on it. So crazy, man.
- [25:42]
B
Have you, have you seen the, the beef back and forth on.
- [25:46]
A
On Twitter between him and Sam Altman.
- [25:48]
B
So Good.
- [25:49]
A
It's pretty funny. Yeah.
- [25:51]
B
So for people listening that don't follow, it's like, I think, I think Sam Altman, the founder of Chachi or OpenAI, accused Elon of basically like pushing his and his own company's content further on X and then damaging the people that are his competitors.
- [26:09]
A
Right, Right. But then Elon's, Elon's accusing Apple doing the same thing with, with ChatGPT. Right? So they're like deranking all other AIs in the, in the App Store. But like, I mean, this is interesting, right? We can get into it and we'll just, then we'll move on. We'll, we'll wrap up the episode. But basically. So it's such a crazy little beef. And like, I'm going to disclaimer this because I get a lot of people who mention that I have no idea what I'm talking about and I know. So disclaimer. I actually have no idea what I'm talking about when it comes to AI and, and like all this stuff. All right? So bear with me. But I think Apple obviously wanted to make a play at AI. They got chat GPT on the iPhone and I don't think that they could buy an AI company. Like, I think that because of anti antitrust and competition act laws, which is what Elon is citing as issues with this. And that's why he wants to do like this lawsuit against Apple for D ranking or like over ranking OpenAI. Like when companies get too big, like the government gets compelled to break them up, right? It almost happened to Google, it almost happened to Facebook. You know, Apple would be the same thing. So you know, Apple would be cut into like their hardware division and then their software division, iOS or whatever, maybe, I don't know, whatever. And then like that. And then Apple Music and the App Store, like they're all different businesses, right? So if company's too big, it owns too much and it can force you to go to the App Store, go, you know, like only use their, their Rails. They can really, like, they can be anti competitive, they can suppress competition, which is arguably what they're doing here. And so probably for them to get an AI play, right? Like they got chat GPT on their, on the phones for free, right? But because they probably. It would have been too expensive for them to pay, right? If. And now what they're doing is they're. In exchange, they're probably, you know, because I think like part of the deal was that there was some, some promotional benefits, right, for chat GPT So I. I think it was probably a legitimate business transaction, but they probably just can't derank others. They can rank chat GPT or promote chat GPT. There's ads all over the App Store. It's everywhere. Right. But I don't know if they can. Can do. So we'll see. We'll see what the courts say. The U.S. justice system is pretty, pretty, pretty good. So. So there's that. And then I think, you know, Elon is kind of been said to be doing the same thing on X with his brands and whatever and his content, whatever content he wants in politics. Like, right. You know, everyone's like, oh, Elon got nothing out of the, you know, Twitter acquisition. It's like, well, he kind of won the election for Trump, so, like, he might got something right for sure. I don't know.
- [28:56]
B
If I owned a company, I'd push my stuff.
- [28:58]
A
It depends. Like, maybe. But you'd probably be like, you'd go into it with that rather than saying that you're going into it with free speech. Right? So I think that's people's criticism. Criticism of him, which is, like, if you're gonna make this a free speech thing, then, like, make it free speech. Right? Like, right. So I don't know, man. It's interesting stuff. I. If you get a chance, listen to Sam Altman's conversation on Lex Talks on Lex Fridman's podcast.
- [29:19]
B
No, Pretty cool.
- [29:21]
A
It's just like, talks, Lex Talks. It's a sick podcast, but, you know, it's if. If he is, like, the dishonest person that a lot of people have said he is, like, Elon and, like, even the board and whatever, like, he is a very convincing liar, which is like, you know, some of those, like, psychopath, like, you know, killer, like, business people who are that way, like, they, you know, they. But like, I. I listened to him and I. I was like, I like this guy. Like, he's good.
- [29:47]
B
I know. Listen to him. I've listened to him speak a few times as well, and I get the same vibe. I'm like, I don't know. I feel like he's a nice guy.
- [29:54]
A
Yeah.
- [29:54]
B
I feel like he's just a good guy just helping out.
- [29:56]
A
But, I mean, yeah, I mean, I think. I think, like, people probably had, like, a similar relationship and perspective with Elon, Right? Like, when, you know, so, like, I think he. You know, a lot of these people who are powerful, like, they are either they can be, like, you know, benevolent and just do good things, and they get Rewarded for it or, like, sometimes they're not. We never know. Right? You never. We really never know.
- [30:16]
B
Right.
- [30:16]
A
Unless you know them intimately.
- [30:18]
B
So, Lex, I know this guy, Alex Fridman.
- [30:20]
A
Yeah. He has. Is like, one of the biggest podcasts in the world, dude.
- [30:23]
B
Second to. Second to Real Estate Without Borders. Right, Right. That was a. That was a fun episode. I like learning about this stuff.
- [30:30]
A
I learned. I'm still thinking, like, all I can think about is Italy, man.
- [30:33]
B
I know.
- [30:34]
A
Freaking Alessandro just fully sold me on Italy.
- [30:36]
B
I know. And every time I see teamers, I get his email. I signed up. I. I'm on his mailing list. So every time I see his emails, I might be his. Click every email. I'm like, me and Danny are this close to just packing this up and moving to and are changing our logo to this Real Estate Without Borders with the chef's kiss. Yeah. No, that was a sick episode. I think I learned where Montenegro was. I thought it was.
- [30:58]
A
It is beautiful. We're gonna have to go there. We had a. We had a long list of places to visit, man. We need to. We need to start talking to some people around these places.
- [31:05]
B
We need. I. I really want to get somebody on here that's familiar with Poland. I think Poland would be a super cool episode. It's very talked about right now. I would love if anyone listening to this has someone they know that sells real estate or bought real estate or doesn't have to be, like, a realtor. It can be someone that has any experience with, like, selling or buying real estate or investing in Poland. And obviously now we would love someone from Montenegro, too. That'd be super cool.
- [31:29]
A
I asked Chat GBT to get me podcast guests for all. All of these locations.
- [31:33]
B
Okay, let's do it. We'll fire off some DMS today.
- [31:36]
A
Heck, yeah. All right, I guess that's it. Thanks for listening. Leave us a review. Hit the subscribe button. Share this episode with your mom or your friends and your rich yacht friends who are looking for places to go park their boats in. Cool new ones. Right. Where. Something like that. I don't know. Share with your friends who want to be rich. You know, share it with your just millionaire friends to motivate them to become centimillionaires because there's so few of them in the US and we need more.
- [32:01]
B
Help us help you.
- [32:02]
A
All right, see you soon.