NYU Stern professor and serial entrepreneur Scott Galloway, who sold his second company, L2, for $158 million in 2017, says that every young person needs a plan for establishing wealth — and that they need to follow what they’re good at, not necessarily what they’re passionate about, to live the lives they want.
In a July interview with TODAY, Galloway defined wealth as bringing in more passive income than what you burn through. So being wealthy doesn’t mean hitting a set dollar amount, but rather an amount that gives you what you need to feel the absence of economic stress.
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