Alex Hormozi has risen to prominence because of his dedication to the world of fitness. This is not a new obsession for Hormozi, as he first developed a passion for fitness when he was a teenager. By the time he was in his 20s, he had purchased his first gym. Hormozi was off and running from there, continuing to focus on building his empire.
As a result of his hard work, Alex Hormozi net worth has now reached the $100 million mark, according to LinkedIn. This places him at the top of the wealthiest Iranian-American entrepreneurs list. So, how did Alex Hormozi gain all this wealth? Let’s take a closer look at how he amassed his fortune.
Early Life and Career
Alex is a famous Iranian-American fitness enthusiast who started the practice in his teenage years. Part of his success goes back to his mentor, who guided him to the health and business principles he abides by. He graduated from Vanderbilt University with a Corporate Strategy Bachelor’s degree.
Alex Hormozi got a job in a strategy firm as a management consultant after college. According to INC, it did not take long before Alex realized that this was not his true calling. “I was a management consultant right out of college,” he said. “I did space cyber intelligence for the military, which sounds much cooler than it really was. But I had a top-secret clearance. It sounded really good at dinner parties and just about only that.
One day, I looked out from my balcony, and I was like, is this it? I was in my [early] 20s, and at that point, I had done everything that I think I was supposed to do. I did well in school, I was president of all the clubs, graduated in three years, got the good job … and I realized that I was living the life that my father wanted me to live.” After two years spent in this profession, he decided that it was time to follow his passion and started a gym. Running a gym is not easy; it was not long before he realized this.
It did not take long for the gym to start making profits of up to $10,000 in six locations. Other gym owners wanted to know the secret to make their establishments profitable like Alex’s, and it was when he built Gym Launch.
He put all of his energy into Gym Launch, eventually converting a licensing model that helped over 4,000 gyms achieve financial peace. In the first 12 months, the company earned slightly over $2.3 million monthly and profits of $17 million in the first year of licensing. Alex Hormozi and his wife Leila continued to invest strategically and increase his net worth.
How did Alex Hormozi make his money?
Alex Hormozi became a serious investor in 2020 after deciding to increase his wealth through other companies. After stepping down from all roles, he founded Acquisition.com, according to Financhill.
He is the company’s managing partner and offers consultancy services and tips for businesses looking to scale their practice. Every month, Alex Hormozi invests in one sales-focused company, which sees its annual revenue grow to nearly $85 million.
Alex is a stout crusader of investing in himself. Most of the money he earns gets reinvested into his ventures, significantly boosting his portfolio.
The following is how Alex Hormozi invested in getting all his wealth:
Alex Hormozi believes investing in skills and talents is more feasible than focusing on material goods. It is among the reasons he dedicated his life to helping other businesses as he reinvested his wealth into the fitness empire.
Gym Launch is his first successful startup, followed by a sports nutrition company called Prestige Labs. He later founded ALAN with his wife, Leila Hormozi, a lead generation company leveraging AI to boost company growth.
The two also founded a children’s photography studio, Enchanted Fairies. It was an investment through Acquisition.com, which quickly expanded to thirty different studio locations.
Another venture that contributes to Alex Hormozi’s wealth is real estate investments. Alex and his wife have several strategic and high-value properties across the country. In 2021, he sold his mansion for $4 million and reinvested in his business. They reside in a private property in Las Vegas, where they run different companies.
The US real estate market requires you to have a lot of capital to invest. Luckily, Alex Hormozi had enough money to dive into the venture. Several studies predict an annual 2.15% net growth from 2023 to 2025. Another reason he loves the US real estate market is it isn’t correlated to the stock market.
Alex Hormozi has driven a banged-up Toyota Prius for the longest time, despite his wealth and status. He encourages business owners to reduce expenses by driving a convenient car, not a luxurious sedan.
However, it doesn’t mean that Alex does not own luxury cars. There are at least two expensive cars in his portfolio, the Ferrari 488 Pista valued at $330,000 and the Mercedes-Benz GLE 53 AMG worth $80,000.
What is Alex Hormozi Net Worth?
The net worth of entrepreneur and investor Alex Hormozi is $100 million as of 2023. This figure includes all the revenue made from his companies and investments. You should expect his wealth to grow as he continues to create new businesses and boost existing ones.
Acquisition.com is his most recent pursuit and is exceptional in providing financial support to low and mid-level entrepreneurs. This company and two other lucrative brands owned by Alex Hormozi earn him approximately $85 million yearly. He also has two published books and a podcast.
Is Alex Hormozi Popular on Social Media?
Social media is a powerful tool to market your business, and Alex Hormozi knows how to leverage the different platforms available. He runs a popular YouTube channel and gaming podcast where he shares tips and experiences with other entrepreneurs. The YouTube channel has over 2 million subscribers and covers various topics, from fitness to business.
He also has a TikTok account which has accumulated over 3 million followers. The channel shares inspirational videos for business advice with his loyal fan base.
Alex Hormozi’s Tips For Budding Entrepreneurs
Anyone looking to start and grow a business will benefit considerably from following Alex Hormozi. The following are tips emerging entrepreneurs can use to scale up their businesses;
- Be ambitious and set goals that’ll allow you to reach your objectives
- Don’t be afraid to take risks if you plan to grow
- Build a strong network of like-minded individuals
- Embrace your failures as an entrepreneur and learn from them
- Stay organized by keeping lists and calendars
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Written by Allen Lee
Read more posts by Allen Lee