"No Fancy Car": Entrepreneur Shares Why He Chose Business Growth Over Luxury

VaynerMedia CEO Gary Vaynerchuk has shared a lesson from his early career, revealing that he paid himself just $40,000 a year while helping grow a business worth millions. In a recent LinkedIn post, the entrepreneur said he prioritised building long-term success over luxury spending, urging young professionals to stay patient and focus on their bigger goals.

Vaynerchuk wrote, "As a 22-year-old kid, I worked for my parents' business for 12 years."

He worked there continuously for 12 years, including on Saturdays. He noted that just as his parents had steered his life in a positive direction, he, in turn, contributed to transforming their financial situation.

He wrote that he built a $45 million business in four years while still paying himself $40,000. He said he did not have a fancy car, an expensive watch or other luxury items because he knew what he was working towards and fully believed in what he was doing.

Vaynerchuk emphasised the importance of patience and focusing on long-term goals. 

He wrote, "So when people are impatient at 26, I laugh. Patience, my friends. Too many of you are way too worried about short-term goals when your mouth is saying you want big-time goals. The bigger the ambition, the slower you need to go."

Social Media Reaction

Vaynerchuk's post received several reactions online. 

One user commented, "The decade's direction matters more than today's applause."

Another user noted, "Choosing mission over material reward for years, no car, no watch, no bling, reflects real discipline most people struggle to sustain."

"This is a much-needed reminder for anyone rushing the process," added a third user.