Legendary Investor & Home Depot Founder Ken Langone on Leadership, Courage & Defeating the Bad Guys
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- Опубликовано: 2 июл 2024
- Follow Joe / jtlonsdale & find his writings here: blog.joelonsdale.com/
Ken Langone's father was a plumber and his mother a cafeteria worker - neither made it past 8th grade - yet Ken became a multi-billionaire investor, builder, and philanthropist. And he did it as an outspoken patriot, defender of capitalism, and man of honor, famously taking on one of the most corrupt politicians of our time - and winning!
In our conversation, we begin with Ken's investment philosophy, including how he became the largest shareholder in Eli Lilly. Next, we dive into leadership lessons and how he co-founded and grew Home Depot into an American icon valued at over $400 billion. But Ken is most proud of the fact that 3,000 associates who began pushing carts in the parking lot have gone on to become multi-millionaires within the company - a feat only possible under capitalism he says.
In the 2000s, Ken had a front-page showdown with then-NY Attorney General Eliot Spitzer. Most of the Wall Street bigwigs in Spitzer's crosshairs cowered and ran, but not Ken. He fought back and won, exposing Spitzer's abuse of power. Ken hilariously recounts his epic battles and demonstrates the importance of fighting for justice and defending the honor of your colleagues, no matter the cost.
Finally, we discuss the impact of Ken's prolific philanthropy, such as his recent $200 million donation to help make NYU Medical School tuition-free. For decades, he's also been a leader in education reform, including one of the greatest urban success stories: Harlem Children's Zone. They have proven that kids from the most difficult areas and family backgrounds can succeed, and have revealed the failings of the teachers' unions and education establishment.
I'm fortunate to call Ken a friend and mentor. There will never be another quite like him, but we should do our best to follow his lead! 
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Ken Langone is the GOAT! 🧡
Agreed!
Truly an incredible person. I worked with someone who had him as a boss previously. Couldn't speak more positively about him. Regret not having been able to get in front of him when I was in finance.
Several months ago I was having lunch with a family member at Gallagher's Steakhouse in Boca Raton. The waiter seated us across two people that looked surprisingly familiar. It was none other than Ken Langone and Bernie Marcus. I wanted to walk over and say hello, but I exercised restraint and let them have their lunch. It made my lunch experience that much more enjoyable. Ken and Bernie are a class act, through and through. Love them dearly.
Built from Scratch (on the Home Depot story) was a good book! Thanks for this interview.
Thanks for watching!
A working-class man who did very well for himself - you the man Ken!
I can’t imagine how awesome of a life Joe must have to know all these wise and amazing people. Like, how would it be hanging out with Ken a whole weekend? I hope I will be able to get into a similar position in the future.
Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security.
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
To get to listen and learn from Ken would be worth tons! Impressive man with integrity that sticks to the gun.
What a great and awesome interview ! Great Patriots ! God bless you both !
Thanks for watching 🙌
That’s Amazing !!! Love it ! God is Good !!
What a program to watch on the 4th of July.
Gawd, I love watching this Genius stuff, this is what makes REAL success happen in the modern world folks!
Great episode. Low-key makes me want to buy HD
Great job on the video ❤
The secret is to hold long term and reinvest the month to month profits additionally purchase more offers on a month to month premise or at whatever point you'll manage to. This may be effectively done since close-end stores are bought and sold on the stock advertise like customary stock. That'd be sufficient to make a portfolio that would pay you great profit wage.
Having available opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional
I agree. Based on personal experience working with a financial adviser, I Currently have $2m in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
Your adviser must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.
Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
Ken's Capitalism book was one of the funniest I ever read. Growing up in New Hyde Park right next to Roslyn, I laughed when he told the story of when he was in college and ripped out some toilet bowl in some diner, or something like that. The book is hilarious. I couldn't put it down.
Great interview!
Fantastic interview. Thank you!
Ken is the very best of America - NYU #1
Never Bet Against America!
I wonder how many effective teachers would stay in the classroom if they were compensated like other human beings who enhance the value of their workplace. In many jurisdictions, teacher pay is structured to reward longevity not effectiveness.
"How Doers Get More Done" Let's go!
I loved this!
Agree we must reward teachers better starting increasing wages
great interview 👍
Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
Finding financial advisors like Sharon Marissa Wolfe who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
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37:48 Master of the UNIVERSE...!!! GOD BLESS...................Interest payments on federal government debt are projected to reach $892 billion in 2024. This is more than the government is projected to spend on defense and almost a third higher than what the United States spent on debt interest payments in 2023
Ken Langone is a national treasure!
#Winning
I just wish their hiring practices were fair. I'd go to the tool department and there would be a minority or a foreigner working there who couldn't speak English. I could have easily worked in the tool department and I was turned down for a position. When you don't fit into the minority class get used to the thanks but no thanks letter.
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer.
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I'm new at this, please how can I reach her?
After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery
Glory to God shalom.
🙏🙏🙏🙏🙏⭐️⭐️⭐️⭐️⭐️
rationaler
Thank you for this great interview! Home Depot still has some problems within their store manager ranks. I speak with the HD employees in my area, and many can point to one or two stores where the store manager is a real piece of garbage human being. They pretend to care when the regional executives visit the stores, but their real colors come through when no one above them is watching. Some of the regular complaints I hear is that the store managers do not greet their people when they arrive in the morning; they just walk by anyone on their way to their tiny office; they refuse to talk with customers; they berate their employees for not showing up for store meetings when those same employees are helping customers on the floor; they impede their employee's ability to do their work and then later blame them for not getting more done; employees are very afraid to speak up when regional executives arrive because the store manager gives them that 'do not say an effing thing' look; the store manager treats some employees badly just because a regional executive praises their work because the store manager wants the credit and does not want to share the credit with the employee or give the employee the credit. Take a closer look at the store managers; they are the reason for the high employee churn in some stores.
Don’t cash the damn social security check. If the Government takes it from billionaires, eventually they’ll take it from little guys like me, who have some money saved up.
Just like the rich guys. Not out of my pocket. Just pay your fair share and shut up.
He thinks he beat NRG ? Guess again
This coming Monday morning : you will know who the plumbers and landscapers are for the FDA IPs that approved Botox and the Suicidal Acne Pharma . Watch for no news about this .