Rich Jerk for sale?
According to ShoeMoney, the Rich Jerk aka Kelly Felix is selling his site for $8 million. When I caught this news yesterday, I couldn’t believe it. Then maybe its just a publicity stunt?
Seems the Rich Jerk is in debt due to some heady ad expenditure. All this while, I have believed he was making some serious money, and you probably may have seen his Adwords ad campaigns promoting his site, or even checked out his latest X-Ray software (the ad purportedly shows his Adwords account and what seems to be thousands in earnings in a day).
I dont believe he was faking his success all along, inflating - “yes”, but outright faking - “no”.
If you ran as many ads as the Rich Jerk, there’s no way you cannot make at least some money, but remember, “rich” is a relative term. If you earn a million a year, but your monthly expenditure is like $70 k (houses, cars, bills, partying, business expenses, jetsetting, etc), you would still be on the same terms money wise, as someone earning half as much, but spending much less.
Being rich also requires good money management. What the Rich Jerk earns every month would probably be considered fabulous money by most other marketers out there. But end of the day, lavish earnings + lavish spending does not equal to lavish profit.
You can make millions, and spend it just as fast–i have seen it countless times. A nice Ferarri runs a few hundred thousand, and if you are going to be cool, you need a new model every 2 years.
If he selling for 8 mill, then maybe he’s making 5 mill a year? and if he is making 10% of that (take-home), then that would be making only 500k a year, which does not go far if you buy 10 million dollar homes and italian sports cars.
Besides,selling a a business does not necessarily mean your bankrupt. It can also mean you want to
1. cash out
2. try something new
3. focus on other bigger and better things.
doesn’t anyone actually know this guy?
If this is not inappropriate, here is a
complete objective outline of The Rich Jerk:
http://wikipreviews.com/The_Rich_Jerk
If he is spending money like water, he ain’t gonna be rich for long. Chicks, cars, jets…that’s some kind of bill to maintain PER MONTH…now I’m just basing that on his lavish screenshots, no pun intended, hehe.
Money from the net is not as steady as the so called guru’s want you to believe. “Oh I made $XXXXX last month from my Web business”….yeah right. Not that it’s a lie, it’s just that many people are lying that lie
If I were him, I’d put it in some trusts or bonds. The Web keeps changing, and 3 months is probably like 1 year in the offline world, which is why its always important to keep updated on all the stuff going on
Well, a year later, he’s still one of the top promoted ebooks on ClickBank i beleive. probably needs to either revamp the book with better info, or start doing something else quick. since he;s selling it for a lot less I hear, maybe he should sell his business for a lot less too.