Asking A 76 Year Old Shipping Billionaire If It Was Worth It

In this YouTube video, Michael Hudner, a 76-year-old shipping billionaire, shares his journey from a desk job on Wall Street to owning over 140 ships. Growing up with a passion for the marine environment and finance, Hudner combined these interests in the late 1970s with a Norwegian partner. He applied real estate finance concepts to shipping, creating innovative financial vehicles in the New York Capital markets. The shipping entrepreneur faced personal adversities, including the loss of his son who became schizophrenic and died in a car accident at the age of 19. Hudner reflects on his life, expressing that he wouldn't have wanted his son to see him give up on his dreams. He also shares his concerns about the excessive money culture and its negative impact on society. Hudner left his corporate career to pursue entrepreneurship in the distress shipping business. He emphasizes the importance of having a supportive partner, keeping expenses low, and following one's passions. He transitioned from a desk job in finance to shipping by leveraging his interest in the marine environment and financial structures. The billionaire also discusses his upcoming book, "Million Dollar Weekend," coming out early 2024. The shipping billionaire reflects on life's challenges, the importance of hard work, and finding fulfillment beyond material possessions. He shares his experiences of protecting his family and providing for them, emphasizing that everyone should understand the importance of playing the hand life deals them. The billionaire also mentions his perspective on money, expressing that it's not the only source of happiness and that it's crucial to maintain balance and not let it negatively impact relationships. He also expresses concern about the money culture becoming excessive and encourages people to focus on character and living a balanced life. Hudner shares his perspective on personal passion and the importance of finding something that brings pleasure and compensation. He encourages listeners not to conform to societal expectations and instead follow their passions. The billionaire reflects on his career choice, seeing joy in photography and discussing the ship owning business model, comparing it to real estate, and explaining that profits come from cash flow generated by ships and potential asset appreciation. He also shares a story about Daniel K. Ludwig, a shipping magnate who built structures in Japan and transported them to Brazil to create a pulp mill, growing eucalyptus trees and turning them into pulp. Despite taking risks and working hard in the late 80s, Hudner found that having wealth brought him more opportunities but not necessarily more joy. He realized that money is a means to do more things but not a substitute for values or human connection. The billionaire expresses concern about the money culture becoming excessive and encourages people to focus on character and living a balanced life. He doesn't have regrets about his choices and advises young people to live a rich and rewarding life, recognizing that opportunities are more readily available in places like the US.

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