05/13/2023
As a top-selling luxury real estate agent in NYC, and CEO of SERHANT., I've worked with 94 billionaires.
Here are 6 things I've learned about their habits and routines:
1. Texting over calling.
Billionaires value their time immensely.
So, they will always opt for quick texts over lengthy calls.
It's not uncommon that I will negotiate $50M - $100M+ deals over iMessage with billionaire clients. Although, they will frequently use secure platforms like Signal for discussions involving sensitive financial details.
2. Efficiency is key.
When I went to dinner with my first billionaire client (many many years ago now), he ordered the minute the waiter arrived.
There's no time wasted in asking about "tonight's specials."
At another dinner, one of my billionaire clients returned the menu to the waiter unopened and said, "surprise us."
When you're at a good restaurant, you know the food is going to be good... so don't overthink!
Billionaires make small decisions without thinking, big decisions in the blink of an eye, and massive decisions with a few minutes of thought and counsel.
3. They're cautious.
If you're a billionaire, chances are good that you've been taken advantage of in the past...
So, it's hard to work your way into a billionaire's "circle of trust."
One of my tricks to getting billionaire clients to trust me has been working for free.
Obviously, they can afford my services... but it's about the gesture:
By working for free, I'm demonstrating my dedication to their interests, not their wealth.
4. Growth > possessions.
Billionaires are not afraid to spend money, and while that may sound obvious, it's interesting to watch HOW:
You'll see them be incredibly frugal in one area, and then extravagant in another.
One deal might be dropped over a $5 discrepancy, yet they'll overspend by millions, tens of millions, or even hundreds of millions on another deal because there is greater potential for return.
Now, while most billionaires have luxurious assets - mansions, planes, yachts - if you just saw them walking down the street, you might not know any better.
Most of the time, they're not wearing their wealth on their clothes.
Warren Buffet is one of the best examples of this: same house, same car, same clothes, and same breakfast from McDonalds.
Their eyes are on return, not display.
5. Focus + Delegation.
Billionaires concentrate on their strengths and then delegate the rest.
Any of the work that falls under the absolute biggest, most important decisions of the day is delegated.
Billionaires leverage other people's skills more than anyone else, maximizing productivity and efficiency.
6. They're human.
Believe it or not, billionaires are regular people with regular problems.
They still get sick, they get divorced, and they have relatives pass away.
And, in the same way that your car may break down, their private jet might have a mechanical issue.
They're both transportation issues, just at a different price point.
