Money itself has no intrinsic value. USD is a fiat currency. Only by government decree does it have any value. It’s not backed by physical commodities like gold. The Federal Reserve influences the economy by printing money. They control the money supply and interest rates. This system allows banks to create money through loans. That’s how money comes from nothing. Wealth isn’t about numbers; it's about value creation. Which is limitless and doesn’t equate with hours worked. Sam Zell’s story exe

It was 1959 when Sam Zell moved in to a fraternity house. He studied political science at the University of Michigan. He moved out of the frat house due to his solitary nature. During his junior year, an opportunity arose. He learned that a landlord was building a student apartment complex. Without prior experience, Sam and a friend pitched to manage it. They secured a deal that included free lodging. This marked Sam’s first foray into real estate. As his venture expanded, Bob Lurie joined the

In 1940, Nazi forces advanced through Eastern Europe. 200 Polish Jews sought help at the Japanese consulate in Lithuania, hoping to escape. Japan and Nazi Germany had an alliance. Japan’s policy allowed Jewish refugees to access its territories. Most countries, including the U.S., turned them away. Chiune Sugihara was Japan’s Consul General in Lithuania. He defied orders from Tokyo. Sugihara issued visas to these refugees, risking his career and reputation. His actions led to his demotion an

The judge sided with Phil and Blue Ribbon in their case against Onitsuka. Phil hired their lawyer full-time. Blue Ribbon still faced financial challenges. Blue Ribbon survived auditing issues from Nissho and creditor payments. Nissho forgave Phil’s decision to make them pay for a secret factory. The Bank of California accused Blue Ribbon of fraud. Nissho’s intervention prevented an FBI investigation. To address cash flow problems, Phil considered taking the company public. He hesitated due

In 1969, Phil Knight left his teaching job to focus on Blue Ribbon Sports. By 1972 they launched the Nike shoe at a trade show. Despite imperfections in the product, it sold well. Blue Ribbon had a reputation for telling the truth. Their relationship soured with Onitsuka, their Japanese supplier. When Blue Ribbon launched Nike, Onitsuka ended their contract, claiming damages. Phil pushed for independence. He recognized the opportunity to launch Nike. His company secured credit to survive, bu

Kidami, Onitsuka’s export manager, wasn’t satisfied with Blue Ribbon. He visited Phil in Portland. Phil discovered that Onitsuka was looking for new US distributors. Phil’s bank cancelled him. Phil made a deal with a Japanese trading company named Nissho Iwai. He gave away no equity. Phil found a factory in Guadalajara to import a new brand of athletic shoe. He hired Carolyn Davidson, a graphic design student at Portland State University. She designed the “swoosh” that would become recognizable

Creating a successful business demands significant focus and energy. Phil Knight prioritized Blue Ribbon Sports. He worked at Price Waterhouse until it took up too much time and energy. Phil transitioned to teaching accounting to focus more on his business. Blue Ribbon Sports needed to take market share from Adidas and Puma. Blue Ribbon hired competitive athletes as salesmen. Sponsoring athletes helped Blue Ribbon gain market share. Inconsistent deliveries from Onitsuka held up sales and debt r

Johnson had been attracting the Marlboro Man’s customers on the East Coast. Johnson had done all the ground work. No one promoted Tigers like he did. Now the Marlboro Man placed an ad in Track & Field News. Johnson and Phil devised a plan to cut him off. Phil flew to Japan to secure exclusive US distribution rights for Onitsuka shoes. He stretched the truth about having an East Coast office. This led to Blue Ribbon securing a three-year contract and ordering 5,000 shoes. Phil hired someone to t

Chiune Sugihara defied orders to save the lives of Sam Zell’s parents, and thousands of Jews during World War II. Sugihara issued visas for many Jewish refugees including Sam’s family. He helped them escape the Nazis, providing refuge in Japan. After a perilous journey, they arrived in the United States, settling in Chicago. That’s where Sam was born in 1941. Sam’s father, a former Polish grain merchant, reinvented himself as a jewelry merchant. The family maintained strong Jewish values. They

In 1937, anti-Semitism intensified. It culminated in the Kristallnacht pogroms in November 1938. Nazis targeted Jewish businesses and synagogues. Sam Zell’s father became aware of the growing danger for Jews in Poland. He took significant risks to secure his family’s future. He transferred money to a bank in Tel Aviv. This would ensure a financial foothold outside of Poland. His wife sewed jewelry into their clothing. They relied on coded communication to navigate these challenges. In 1939,