A transition from homelessness to “serial entrepreneurship” may seem
impossible, but John Paul de Joria’s success story proves otherwise.
There was a time when this business tycoon was sleeping in an old Rolls Royce. Now, he can boast of a $4
billion fortune. He is an inspiration and a great example for those who believe
that $700 is not enough to build an empire.
John Paul de Joria now owns a private jet, a train with a master suite,
three staterooms and spends roughly $10,000 per month on maintenance. However,
his childhood experiences included the division of 27 cents amongst three
brothers.
Broke and homeless
At 22, Paul was homeless for a while, as he couldn’t even afford to pay
rent. But the sun started to shine for this ambitious man when he received an
entry-level job at Redken, which turned out to be his springboard. This hair
product company inspired him to use all his savings in an investment with hairdresser Paul Mitchell. The duo launched John Paul Mitchell
Systems in 1980, with nothing more than $700 and a humble dream.
Homeless again
Paul de Joria got married and settled down. His company was performing
consistently, but his personal life was on the verge of a breakdown. Since he
wasn’t getting along with his wife anymore, he decided to leave their home and
give her every cent he had.
He was supposed to receive half a million dollars for Paul Mitchell
Systems, but the money never came through. As a result, for almost two weeks,
he slept in his car, reminiscing the days of his youth.
After his brief stint of homelessness, there was no looking back for Paul
de Joria. He knew that the company was going to be successful as long as he
could afford the rent and cover all other costs.
Patron tequila
Paul was a man who dreamed big even when he was earning $150 a week and
driving a second-hand car. Paul de Joria went on to become an entrepreneur who
launched multiple businesses. Starting from bikes to nightclubs, he has
launched 17 types of businesses. However, besides the beloved Paul Mitchell
Systems, his most famous venture has been Patron tequila.
They say passion stirs ambition and de Joria’s wish to enjoy ultra-premium
tequila led to this very successful venture. Today, we can look at it as an
example of how to create a luxury item from just a simple hobby. He enjoyed the
pleasures of tequila, especially because it relaxed him. However, he felt that
the quality of tequila wasn’t good enough. Therefore, in 1989 he co-founded
Patron Spirits.
Patron is now an extremely expensive brand of tequila and popular amongst
millionaires’.
What can you do with $700?
Some say that you can only buy groceries with $700. However, John Paul de
Joria did things differently and started the largest privately held hair salon
brand in the world.
Since inflation was not helping and the funds kept diminishing, the only
thing left to do was use black and white ink on the packaging and ask a friend
with a British accent to record a voice message so that people would know that
Paul Mitchell was a serious company.
This is how John Paul de Joria, formerly homeless, established the famous
Paul Mitchell, which is now almost worth $1 billion. So it turns out that you
can start a business with only $700, as long as you know how to invest it properly.
The real John Paul de Joria
Paul de Joria now allows people to see who he really is. He is a man with a
signature silver beard who played himself in the movie “Don’t mess with the
Zohan”, rolled with Hells Angels and dined with Cher. He is a loving father of
six and has plenty of properties in Malibu, California; Austin, Texas and Las Vegas. Therefore, it is safe
to say that he will never end up on the streets again.
With a $4 billion fortune, that would be close to impossible! John Paul de
Joria has had his ups and downs. However, regardless of whether or not he had a
roof above his head, de Joria never lost the most precious gift his mother gave
him: trust and dedication.
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