- I'm not waiting till I die. I wanna watch my kids enjoy their wealth.

我不會等到我死了。我想看著我的孩子們享受他們的財富。

- When did you personally hit a billion dollars?

你個人什麼時候達到十億美元的？

- Probably... - Did it make you want to get rich?

可能...這讓你想變富嗎？

- No. - Really? They say it's rude to ask what things cost, but, as a Wall Street Journal reporter, that's literally the only thing I wanna know.

沒有。真的？他們說問東西多少錢是沒禮貌的，但作為《華爾街日報》記者，那真的是我唯一想知道的事情。

How much is your watch collection worth? How many million?

你的手錶收藏值多少錢？多少百萬？

- We're all allowed one vice, aren't we?

我們每個人都可以有一個愛好，不是嗎？

- Kenn Ricci is the man behind an empire of private jet companies, including Flexjet.

Kenn Ricci 是私人飛機公司帝國的幕後人物，包括 Flexjet。

He doesn't just cater to the 0.1% club.

他不只是服務於 0.1% 俱樂部。

He's a card-carrying member with a net worth above a billion dollars.

他是淨資產超過十億美元的會員卡持有者。

As the number of ultra-wealthy people surges to a record high, Kenn is betting on increased demand.

隨著超級富豪人數飆升至歷史新高，Kenn 押注需求增加。

Today, we're gonna break down how he got here and reveal what spending in that tax bracket actually looks like.

今天，我們將分解他是如何走到這一步的，並揭示在那個稅級的消費實際上是什麼樣子。

So let's go back to the beginning. I wanna hear how you made your first million.

讓我們回到起點。我想聽聽你是如何賺到第一個一百萬的。

- So come out of the Air Force.

從空軍出來。

I work for Northwest Orient for a brief period of time.

我在西北東方航空工作了一段時間。

I get furloughed. Unemployed, back living with my parents.

我被解僱了。失業，回去和父母住。

I put myself out as a contract pilot called Professional Flight Crews.

我以合同飛行員的身份出去，叫做專業飛行機組。

One of the companies I was flying for was called Corporate Wings.

我飛的其中一家公司叫做 Corporate Wings。

They ended up wanting to sell the company, and I bought the company for $27,500.

他們最終想賣掉公司，我以 27,500 美元買下了公司。

- I bet you're wondering: where'd he even get that $27,500 to buy that company in the first place?

我打賭你在想：他一開始從哪裡弄到那 27,500 美元來買那家公司的？

Here's how. Kenn noticed that the company had $27,000 of cash on its books.

是這樣的。Kenn 注意到公司帳上有 27,000 美元現金。

So he bought the company with a loan and used that money to pay it back later.

所以他用貸款買下了公司，然後用那筆錢之後還款。

And the last $500? He called his dad to see if he'd spot him.

最後的 500 美元？他打電話給他爸爸看看能不能借給他。

I'll let Kenn fill you in on how that paid off.

我讓 Kenn 告訴你那是怎麼回報的。

- By the early '90's, it's doing three million a year in revenue.

到 90 年代初，它每年有三百萬的收入。

I morphed Corporate Wings to be servicing concert tours.

我把 Corporate Wings 轉型為服務巡迴演唱會。

I had done Barbra Streisand, Elton John. And that's when one of the companies that I had contracted with said, "Have you ever done a political campaign?"

我做過芭芭拉史翠珊、艾爾頓喬翰。那時候我合作過的一家公司說：「你做過政治競選活動嗎？」

So I asked him right away, "Well, how long is the campaign?" And they said, "It's 13 months." Well, that's a really good contract.

所以我立刻問他：「那麼，競選活動多長時間？」他們說：「13 個月。」那是一份很好的合同。

And I said, "Well, what's the guy running for?" He says, "He's running for president." And I said, "Well, who is it?" He said, "Well, it's the governor of Arkansas."

我說：「那麼，他在競選什麼？」他說：「他在競選總統。」我說：「那麼，是誰？」他說：「是阿肯色州州長。」

I said, "The governor of Arkansas "is not gonna need a plane for 13 months.

我說：「阿肯色州州長不會需要一架飛機 13 個月。

"This guy has no chance of becoming president." And then I flew him to the inauguration.

這傢伙沒有機會成為總統。」然後我載他去就職典禮。

Coming out of Clinton, the company started to gain traction where I needed more and more employees.

從克林頓競選出來後，公司開始獲得發展勢頭，我需要越來越多的員工。

And that's when I started to grow the business.

那時候我開始發展業務。

- Around that same time, another private jet company, NetJets, was gaining ground.

大約同一時間，另一家私人飛機公司 NetJets 正在獲得發展。

- I'm starting to think about: what's the product I can have that can compete with NetJets?

我開始思考：什麼產品可以與 NetJets 競爭？

And that's when I came up with the idea of Flight Options.

那時候我想出了 Flight Options 的想法。

So in '97, I'm out trying to raise 30, 40, $50 million to underwrite this idea.

所以在 97 年，我出去試圖籌集三四五千萬美元來支持這個想法。

Nobody was having it. And then in the summer of 1998, Warren Buffett buys NetJets.

沒人接受。然後在 1998 年夏天，沃倫巴菲特買下了 NetJets。

And my proposal just happened to be on everybody's doorstep.

我的提案恰好在每個人的門口。

I was the last guy there. In the summer of '98, I had 50 million from Boeing, 50 million from Bombardier.

我是最後一個在那裡的人。98 年夏天，我從波音拿到 5000 萬，從龐巴迪拿到 5000 萬。

I mean, it was amazing the amount of $50-million lines of credit I had because Buffett endorsed the industry.

我是說，我有的 5000 萬信用額度數量驚人，因為巴菲特認可了這個行業。

But concurrent with that, I had started the inertial navigation company by having aftermarket repairs of this very particular device.

但同時，我已經開始了慣性導航公司，通過對這種特定設備進行售後維修。

I would've never known to start that business if I wasn't in the cockpit trying to understand how it fails.

如果我不是在駕駛艙裡試圖了解它是如何失敗的，我永遠不會知道要開始那個業務。

- He's talking about this company, Inertial Airline Services, which he started in 1990 after he saw how expensive it was to fix airline navigation systems.

他說的是這家公司，Inertial Airline Services，他在 1990 年開始的，在他看到修理航空公司導航系統有多貴之後。

But then his company Flight Options took off.

但然後他的公司 Flight Options 起飛了。

- We did $100 million in the first three months.

我們在前三個月做了 1 億美元。

And then I realized I can't run any other company.

然後我意識到我不能經營任何其他公司。

That's why I sold the inertial navigation company the following year for like around $10 million.

那就是為什麼我第二年以大約 1000 萬美元賣掉了慣性導航公司。

So that was probably the first significant wealth of any size.

所以那可能是第一筆有任何規模的重要財富。

- At this point, Kenn was aggressively competing with NetJets.

此時，Kenn 正在積極與 NetJets 競爭。

And, in 2002, his company merged with Raytheon in a bet that it would accelerate his business.

2002 年，他的公司與 Raytheon 合併，押注這會加速他的業務。

- We merged the two companies, 50% to Flight Options and 50% went to Raytheon, which was the owner of Travel Air at the time.

我們合併了兩家公司，50% 歸 Flight Options，50% 歸 Raytheon，當時是 Travel Air 的所有者。

And I don't know if you're familiar with shareholders roulette.

我不知道你是否熟悉股東輪盤。

When you have 50/50 owners, one person puts a number out there and the other person either gets to buy or sell at that number.

當你有 50/50 的所有者時，一個人提出一個數字，另一個人要麼以那個數字買要麼賣。

So I had the obligation to present Raytheon with the number within 18 months of the closing.

所以我有義務在交割後 18 個月內向 Raytheon 提交那個數字。

I had gotten the valuation underwritten by Warburg Pincus for $360 million.

我讓 Warburg Pincus 以 3.6 億美元的估值承銷。

I offer Raytheon 180 million for their half of the business.

我向 Raytheon 出價 1.8 億美元買他們一半的業務。

And they thought I was stealing it and they bought me out.

他們認為我在偷竊，他們把我買斷了。

So I lose the whole thing in 2002.

所以我在 2002 年失去了一切。

And it was the worst day of my life.

那是我人生中最糟糕的一天。

But what's crazy about that was: at the time that that happened, I had already sold, I'd raised equity, and I really only owned about 16%.

但瘋狂的是：在那發生的時候，我已經賣了，我已經籌集了股權，我真的只擁有大約 16%。

So when the proceeds came in, it was about $20 million.

所以當收益進來時，大約是 2000 萬美元。

- Instead of catching up to NetJets, he was ousted from the company he founded.

他沒有趕上 NetJets，而是被趕出了他創立的公司。

But he ended up using that money to start his next venture, Directional Aviation Capital, which invests in aviation companies.

但他最終用那筆錢開始了他的下一個事業，Directional Aviation Capital，投資航空公司。

So you start Directional Capital with 20 million?

所以你用 2000 萬開始 Directional Capital？

- Yes, with the money that came in from the Raytheon, from the sale.

是的，用從 Raytheon 來的錢，從出售中。

One of the first deals we found was Mercury Air Centers.

我們找到的第一筆交易之一是 Mercury Air Centers。

And in 2007 we sold it to Macquarie.

2007 年我們把它賣給了 Macquarie。

And that was sold for $625 million. We had about 200 million of debt, so there was about 400 million of proceeds.

那是以 6.25 億美元賣出的。我們有大約 2 億的債務，所以大約有 4 億的收益。

So that was a big payday. That changed life significantly.

那是一大筆發薪日。那顯著改變了生活。

- I wanna hear what you did to celebrate the Macquarie deal.

我想聽聽你是怎麼慶祝 Macquarie 交易的。

- I know exactly what I did. I'm embarrassed to say.

我確切知道我做了什麼。我不好意思說。

You know, they'll tell you that, when you have a big liquidity event, that you do nothing for six months.

你知道，他們會告訴你，當你有一個大的流動性事件時，你六個月什麼都不做。

Just 'cause you're gonna do something stupid. And I did something stupid.

就因為你會做一些愚蠢的事情。我確實做了一些愚蠢的事情。

So I went down and we took a two-week vacation, Mike and I and our wives, to Cabo San Lucas.

所以我下去了，我和 Mike 還有我們的妻子在 Cabo San Lucas 度過了兩週假期。

And I bought a house, and I still have it.

我買了一棟房子，我還有它。

We still go down there and the families kind of spend a lot of time there.

我們還會下去，家人們會在那裡花很多時間。

But, yeah, that was my celebration. - How much did you pay for the house?

但，是的，那是我的慶祝。你花了多少錢買房子？

- Three and a half million. - Okay.

三百五十萬。好的。

And you had made hundreds of millions of dollars?

你賺了數億美元？

- 80-ish. But Mike and I are partners too, so that wasn't all mine, right?

大約 80。但 Mike 和我也是合夥人，所以那不全是我的，對吧？

- And you spent three million on the house.

你在房子上花了三百萬。

I mean, not bad. - I know, you're not supposed to do that.

我是說，還不錯。我知道，你不應該那樣做。

- You're not. Soon after, Ken clawed his way back to Flight Options.

你不應該。不久之後，Ken 奮力回到了 Flight Options。

This time, he bought Raytheon out. But the company was struggling at this point, and his effort to turn things around would end up changing his plan entirely.

這一次，他把 Raytheon 買斷了。但公司當時在苦苦掙紮，他扭轉局面的努力最終會完全改變他的計劃。

- The first thing was to figure out what the plane situation was.

第一件事是弄清楚飛機的情況是什麼。

So the right plane for us at the time was made by Bombardier.

當時適合我們的飛機是龐巴迪製造的。

But Bombardier had a competing company called Flexjet.

但龐巴迪有一家競爭公司叫 Flexjet。

I visit Bombardier, and I said, "Would you let me buy these Challenger 300s "even though it would be competing with a company you own?" And they said, "All right, we'll sell you the planes,

我拜訪龐巴迪，說：「你能讓我買這些 Challenger 300 嗎，即使它會與你擁有的公司競爭？」他們說：「好的，我們會把飛機賣給你，

"but you have to buy Flexjet too." And so, in 2014, that's how I come to buy Flexjet.

但你也得買 Flexjet。」所以，在 2014 年，那就是我買下 Flexjet 的原因。

They kind of made me buy it. I say made me: it was transformational, right?

他們有點讓我買的。我說讓我：那是變革性的，對吧？

Because they had a big corporate base, they had an outstanding reputation.

因為他們有一個大的企業客戶群，他們有出色的聲譽。

It's one of the reasons why we collapsed the Flight Options name and came up under Flexjet.

這是我們取消 Flight Options 名字並以 Flexjet 出現的原因之一。

- When did you personally hit a billion dollars net worth?

你個人什麼時候淨資產達到十億美元的？

- In 2021, when the business was probably doing maybe 170 or $180 million of EBITDA.

2021 年，當業務可能做到 1.7 億或 1.8 億美元的 EBITDA。

But we also had these very expensive subordinated debt.

但我們也有這些非常昂貴的次級債務。

You know, we had to borrow money at 15, 16% to be able to buy the Flexjet property.

你知道，我們不得不以 15%、16% 借錢才能買下 Flexjet 的物業。

So we decided to recapitalize the company in order to pay that debt down.

所以我們決定對公司進行資本重組以償還那筆債務。

And that recapitalization was done close to a $2-billion valuation, which with my ownership of the company, put me close to a billion.

那次資本重組是在接近 20 億美元的估值下進行的，加上我對公司的所有權，讓我接近十億。

Maybe not quite, maybe 800 million or so at the time.

也許不完全是，當時可能是 8 億左右。

- How did that feel? - I don't think you even recognize it.

那感覺如何？我不認為你會意識到。

- I don't believe that. - But I think there's two parts of your net worth.

我不相信。但我認為你的淨資產有兩個部分。

And I think, you know, because sometimes we just wanna focus on the headline number.

我認為，你知道，因為有時候我們只想關注那個標題數字。

You really have two net worths, someone like me.

像我這樣的人，你實際上有兩個淨資產。

Like I have money that's not related to Flexjet.

就像我有不與 Flexjet 相關的錢。

It's the homes you have, it's the cash you have, it's your investments.

是你擁有的房子，是你擁有的現金，是你的投資。

And then you have the part of the net worth that you never wanna liquidate 'cause you want to keep growing Flexjet.

然後你有淨資產的一部分你永遠不想清算，因為你想繼續發展 Flexjet。

I think the company's just halfway through its growth cycle.

我認為公司只是在其增長週期中走了一半。

So there'd be no reason to wanna liquidate that.

所以沒有理由想清算那個。

And that goes up and down, and it varies, right?

而且那會上下波動，會變化，對吧？

Depending upon a good month, a bad month.

取決於一個好月份，一個壞月份。

- I think your values stay the same.

我認為你的價值觀保持不變。

But I think the things that you can do and the generosity that you can have to your alma mater or your children or your colleagues, right?

但我認為你可以做的事情和你可以對母校或孩子或同事的慷慨，對吧？

It's like money does change things. - It does.

金錢確實會改變事情。確實。

If you wanna talk about where it's really changed, right?

如果你想談談它真正改變了什麼，對吧？

It's the fact that... So my children are older, so, you know, my youngest is 24.

事實是...所以我的孩子們都大了，所以，你知道，我最小的 24 歲。

And so they're all at the age where we've chosen as a family not to disguise and not to hide from our wealth.

所以他們都到了我們作為一個家庭選擇不隱藏我們的財富的年齡。

And so we have family meetings every quarter, and we're passing on wealth at this point in time.

所以我們每季度都有家庭會議，我們現在正在傳承財富。

I'm not waiting till I die. I wanna watch my kids enjoy their wealth.

我不會等到我死了。我想看著我的孩子們享受他們的財富。

- Wow. - And so we're passing on wealth to them now, and we're helping them manage through it and we're helping them navigate.

哇。所以我們現在正在把財富傳給他們，我們正在幫助他們管理它，我們正在幫助他們導航。

We have a family limited partnership that any of the kids can borrow from to start businesses.

我們有一個家庭有限合夥企業，任何孩子都可以從中借款來創業。

And that's probably, if you say, where does the net worth become a focus, it's at those meetings when we sit there and we talk about:

那可能是，如果你說，淨資產在哪裡成為焦點，就是在那些會議上我們坐在那裡談論：

"What's the you can get your hands on net worth "and what are we preserving here, "and how are we using it?" And, exactly, "Where are we giving money to?"

「你可以拿到手的淨資產是多少，我們在這裡保留什麼，我們如何使用它？」還有，「我們把錢捐給哪裡？」

Which I've made them do since they were young.

從他們小時候我就讓他們這樣做。

- I wanna hear just a little bit more about these family meetings.

我想多聽一點關於這些家庭會議的事情。

How often do they happen? Do you have an agenda?

多久開一次？你有議程嗎？

- We have 'em quarterly. Every year, once a year at the big meeting, I walk through the estate plan.

我們每季度開一次。每年，在大會議上一次，我會講解遺產計劃。

What's gonna happen, like where does the money go?

會發生什麼，比如錢去哪裡？

How does it get there? I start the meeting by showing my net worth.

它怎麼到那裡？我開始會議時會展示我的淨資產。

Then I show them where the assets are, what companies we own, what the liquid money is, who has the liquid money, how do you get to it if I'm not here.

然後我給他們看資產在哪裡，我們擁有什麼公司，流動資金是什麼，誰有流動資金，如果我不在了你怎麼拿到它。

Who's the guys you call? Like where does the money go?

你打電話給誰？錢去哪裡？

How do you get your share, how do you get your share?

你怎麼拿到你的份額，你怎麼拿到你的份額？

And then after I do that, I have all of them expose their net worth.

然後在我做完那個之後，我讓他們所有人公開他們的淨資產。

And then they tell their siblings what they invested in, what they're spending their money on.

然後他們告訴兄弟姐妹他們投資了什麼，他們把錢花在什麼上面。

And then typically after that, pass on some wealth at those meetings.

然後通常在那之後，在那些會議上傳承一些財富。

Very important that they're not treated equally. Because life doesn't work that way.

非常重要的是他們不被平等對待。因為生活不是那樣運作的。

One's 12 years older than the other one.

一個比另一個大 12 歲。

So one had 12 years of appreciation over the younger one.

所以一個比年輕的那個有 12 年的增值。

That doesn't mean we don't love you, it just mean, life, it's not gonna be equal.

那不意味著我們不愛你，只是意味著，生活，它不會是平等的。

So don't like stand here like the three of you are equal.

所以不要像你們三個是平等的那樣站在這裡。

It's a lot of money for all of you.

對你們所有人來說都是很多錢。

So I wanna make sure none of them get pissed off about the fact that who has more than the other.

所以我想確保他們都不會因為誰比誰有更多而生氣。

So we go right down where it all falls, how the taxes hit each one and why things go there.

所以我們直接看它怎麼落地，稅收怎麼影響每一個人以及為什麼東西會去那裡。

I want them to understand it. Otherwise, when I'm gone, they're gonna fight.

我想讓他們理解它。否則，當我走了，他們會打架。

A lot of my peer group does not do that.

我的很多同齡人不這樣做。

They do not, like, they will not share family net worth.

他們不，比如，他們不會分享家庭淨資產。

They feel like it could spoil their kids.

他們覺得這可能會寵壞他們的孩子。

If their kids knew how much money they were gonna get, they might live their life differently.

如果他們的孩子知道他們會得到多少錢，他們可能會過不同的生活。

I've just chosen to think about it. If I didn't raise the kids right, I'm not gonna correct them by not telling 'em what their net worth is.

我只是選擇這樣想。如果我沒把孩子養好，我不會通過不告訴他們淨資產是多少來糾正他們。

- So you wanna talk to your kids about money regularly?

所以你想定期和你的孩子談論錢？

- It's more important than sex. But yet we talk about sex all the time, and we never talk about money in our family.

這比性更重要。但我們總是談論性，我們從不在家庭中談論錢。

It's kind of bizarre. - We've talked a lot about how you made your money.

有點奇怪。我們談了很多關於你是怎麼賺錢的。

I wanna get to the fun stuff, how you spend it.

我想談談有趣的東西，你是怎麼花錢的。

Let's start with donations, something I know is super important to you.

讓我們從捐款開始，我知道這對你非常重要。

How much money did you donate last year?

你去年捐了多少錢？

- Around three million. I'm on two boards.

大約三百萬。我在兩個董事會。

They're both in education, and we put a predominant amount of our money there.

它們都在教育領域，我們把大部分錢放在那裡。

That was the amount last year. - But you made a really big gift.

那是去年的金額。但你做了一個非常大的捐贈。

- We did a $100-million donation. That was the opportunity to make a statement that what universities really need is discretionary money, not money that's pigeonholed or targeted.

我們做了 1 億美元的捐款。那是一個機會來表明大學真正需要的是可自由支配的錢，不是被限定或目標化的錢。

That's why we did that. - So how much did you spend on your vacations last year?

那就是我們這樣做的原因。那你去年在度假上花了多少錢？

- We could kind of say my whole life is a vacation, but I would tell you that the definable vacation that I really do take

我們可以說我的整個生活都是度假，但我會告訴你我真正去的可定義的度假

is that we spend the summer in Italy, about six weeks.

是我們在意大利度過夏天，大約六週。

It's probably 750 to $800,000 for that vacation.

那個假期大概是 75 萬到 80 萬美元。

I always say this: I don't have any girlfriends, I don't do drugs, I'm not an alcoholic, but I have way too many homes and I spend way too much on travel, okay?

我總是說這個：我沒有任何女朋友，我不吸毒，我不是酒鬼，但我有太多房子，我在旅行上花太多錢，好嗎？

But I decided early on that I don't like to travel economically.

但我很早就決定我不喜歡經濟地旅行。

So if I'm gonna travel, I want the hotel suite that I want to travel in or I won't go.

所以如果我要旅行，我想要我想住的酒店套房，否則我不去。

It might sound like a big number, but it more has to do with just the fact that, if I'm gonna go somewhere, I want to enjoy it.

聽起來可能是一個大數字，但更多的是因為如果我要去某個地方，我想享受它。

I want it to be the best experience it could be.

我希望它是最好的體驗。

And then my travel tip to everybody: I tip when I get there.

然後我給大家的旅行小貼士：我到的時候就給小費。

Like the first thing I do when I either get to a restaurant for the first time or when I get to a hotel property for the first time.

就像我第一次去餐廳或第一次去酒店物業時做的第一件事。

- How much do you tip when you get to a restaurant?

你去餐廳時給多少小費？

- The first time I've ever gone there?

我第一次去那裡？

Probably $1,000. But when I get to like a hotel, if we're staying at the hotel property, probably 10 times that amount at the start.

可能 1000 美元。但當我到酒店時，如果我們住在酒店物業，開始時可能是那個金額的 10 倍。

If I'm gonna be there for four or five weeks, to ask for the experience first and then tip at the end?

如果我要在那裡待四五個星期，先要求體驗然後最後再給小費？

Nobody knows what your expectation is, right? But if you tip at the beginning, then they know what level of expectation you have.

沒人知道你的期望是什麼，對吧？但如果你一開始就給小費，他們就知道你的期望水平是什麼。

- I've heard you have a thing for watches.

我聽說你喜歡手錶。

I wanna hear about your watch collection. - This was actually something my dad told me.

我想聽聽你的手錶收藏。這實際上是我爸爸告訴我的。

When something important happens in your life, have another action that coordinates with it.

當你生活中發生重要事情時，有另一個行動與之協調。

And you'll always associate those two things together.

你會永遠把這兩件事聯繫在一起。

Create a memory around the event. So early on, mine was watches.

圍繞事件創造一個記憶。所以早期，我的是手錶。

And the first company I sold, I bought myself a watch.

我賣掉的第一家公司，我給自己買了一隻手錶。

And so over the years, it's not so much that I love watches, but I associate a watch with a memory of something financial, when we have a success.

所以多年來，與其說我喜歡手錶，不如說我把手錶與財務上的成功記憶聯繫起來。

We just did this partnership with Riva, and Hublot makes a watch that's in aqua.

我們剛和 Riva 做了這個合作，Hublot 做了一隻水色的手錶。

It's kind of an aqua color, very similar to the Riva colors that's in their boats.

它是一種水色，非常類似於 Riva 在他們的船上的顏色。

And so when we did that, I bought the watch to remember my good relationship with the folks at Riva Boats.

所以當我們做那個的時候，我買了那隻手錶來記住我與 Riva Boats 的人的良好關係。

- So they say it's rude to ask what things cost, but, as a Wall Street Journal reporter, that's literally the only thing I wanna know.

他們說問東西多少錢是沒禮貌的，但作為《華爾街日報》記者，那真的是我唯一想知道的事情。

So how much is your watch collection worth?

那你的手錶收藏值多少錢？

- So I tell my children that there's two things when I'm dead don't forget about: the watch drawer, okay, and the wine cellar.

我告訴我的孩子們當我死了有兩件事不要忘記：手錶抽屜，好嗎，還有酒窖。

I would say there's probably 40 watches. The most expensive ones are probably 150.

我會說大概有 40 隻手錶。最貴的大概是 150。

So I'm gonna say probably two, two and a half million is the right number.

所以我會說大概兩百萬到兩百五十萬是正確的數字。

- I've been admiring your fits on Instagram, so I have to know: how much did you spend on your wardrobe last year?

我一直在 Instagram 上欣賞你的穿搭，所以我必須知道：你去年在衣櫥上花了多少錢？

- Probably a couple hundred thousand dollars. Not more than 200.

大概幾十萬美元。不超過 200。

The one thing about clothes is like it's cumulative, right?

關於衣服的一件事是它是累積的，對吧？

It's not like you buy 'em one year and they're done, right?

不是你買了它們一年就完了，對吧？

So cumulatively it's a big wardrobe, but we're all allowed one vice, aren't we?

所以累積起來是一個很大的衣櫥，但我們都可以有一個愛好，不是嗎？

- I don't even think that's a vice.

我甚至不認為那是一個愛好。

If you think I had a lot of questions for you, we have even more questions from our subscribers.

如果你認為我對你有很多問題，我們的訂閱者有更多的問題。

- Oh great. - If you enjoyed this, this is just one segment in our broader show, which you can now watch on wsj.com.

哦太好了。如果你喜歡這個，這只是我們更大節目的一個片段，你現在可以在 wsj.com 上觀看。

Subscribe now, and we might just pose your question to our next millionaire.

現在訂閱，我們可能會把你的問題拋給我們的下一位百萬富翁。