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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe spent $250,000 to open a New York bakery—now it brings in $50 million a yearElisa Marshall and Benjamin Sormonte invested all of their life savings, plus more money from family and friends, to open a cafe called Maman in New York in 2014. Last year, Maman's 34 locations brought in nearly $50 million. "It was one of the biggest financial risks we could ever take," says Marshall.

Persons: Elisa Marshall, Benjamin Sormonte, Marshall Locations: New York

Elisa Marshall and Benjamin Sormonte didn't want to be overly ambitious when launching a business in New York in 2014. Some items feature "a fun twist," Marshall says: The salted chocolate cookie sandwich with white chocolate ganache resembles a fancier, French version of an Oreo. Sormonte and Marshall didn't know how much launching a cafe in New York would cost, and ended up spending $250,000. The praise brought in waves of customers, and Maman brought in roughly $2 million in revenue during its first full year. And it was great," Marshall says, adding: "Next thing you know, we're the hottest cookie in New York."

Persons: Elisa Marshall, Benjamin Sormonte didn't, Marshall, Oprah Winfrey, Sormonte, — Marshall, childhoods, Armand Arnal —, Sormonte's, Marshall didn't, Maman Organizations: CNBC, Michelin Locations: New York, SoHo, Toronto, France, Montreal, Ibiza, Spain, New, Tribeca

☆ Jeff Bezos is a 'brilliant man' for what he's done at Whole Foods, says ex-CEO: 'He thinks really long term'
▼ + stars: | 2024-06-15 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

In the eyes of Whole Foods co-founder John Mackey, Jeff Bezos is a "brilliant man" — all because of a few price cuts at the grocery chain. Whole Foods was struggling with declining sales when Bezos' Amazon bought the grocery chain for $13.7 billion in 2017. Shoppers were already looking elsewhere after larger, less expensive rivals like Walmart started stocking more organic foods to appeal to Whole Foods' target customers. That included producing a greater number of products from Whole Foods' in-house 365 brand, which Amazon also started selling online. "I hardly ever hear the 'whole paycheck' narrative any longer—that's due to Amazon," Mackey said.

Persons: John Mackey, Jeff Bezos, Jeff, Mackey, Fortune, Bezos, IBISWorld, Bezos —, — Organizations: Foods, Amazon, Shoppers, Walmart, CNBC

☆ CEO spent $15,000 on pizza—and turned it into more than $1 million in revenue: 'The ROI is insane'
▼ + stars: | 2024-06-14 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

That's how it worked out for Matthew Parkhurst, co-founder and CEO of New York-based tech startup Antimetal. The company was ready to emerge from its beta phase, and Parkhurst wanted to make potential clients aware that Antimetal even existed. Antimetal spent roughly $15,000 on pizzas, packaging and targeted delivery to potential clients, venture capital firms and even tech influencers with large social media followings. It worked: Roughly 75 of the companies that received pizza have become Antimetal clients, Parkhurst says — creating a bump of more than $1 million in annualized net revenue, according to documents reviewed by CNBC Make It. "Obviously, the ROI [return on investment] is insane on the revenue side, compared to what we spent," Parkhurst says.

Persons: Matthew Parkhurst, Parkhurst, Antimetal Organizations: San, CNBC Locations: New York, San Francisco

☆ 92-year-old just became one of America's richest self-made women—she's worth $700 million
▼ + stars: | 2024-06-08 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Payden's assets have grown with the firm: As majority owner, she boasts an estimated net worth of roughly $700 million and is a "newcomer" on Forbes' recently published 2024 list of America's Richest Self-Made Women. "I was hired at a 25% discount because I didn't know the difference between a bond and stock," Payden told the Los Angeles Times in 1999. Within a couple years, she moved to Los Angeles to join Scudder, Stevens & Clark, a prestigious money management firm. She failed at least one of those attempts because she "didn't play golf" at an annual meeting on a men-only course, Payden told students at Notre Dame in 2011. Since then, she's built her firm into one of the largest private money management firms in the U.S.

Persons: Joan Payden, she's, Forbes, Payden, Merrill Lynch, Scudder, Stevens, Clark, wouldn't, Sandra Rygel, Payden wasn't Organizations: Payden, Forbes, Trinity College in, Trinity College in Washington , D.C, Los Angeles Times, Notre Dame, Trinity's, U.S, Zurich Insurance Group, CNBC Locations: Los Angeles, Trinity College in Washington ,, New Jersey, Swiss

☆ 68-year-old started writing down a simple list in high school—it helped her become a CEO
▼ + stars: | 2024-06-04 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Julia Stewart's strategy for success is printed on a piece of paper she keeps framed on her desk. It's a list of "life goals" the 68-year-old CEO has been making, and regularly updating, for roughly five decades now. "I started my first life goals when I graduated from high school. The current list of life goals that sit, framed, on Alurx CEO Julia Stewart's desk in Pasadena, California. It's much more about me making certain that, in my day to day, I'm helping others [and] making a difference," says Stewart.

Persons: Julia Stewart's, I've, Stewart, IHOP's, She's, Tim, —, Julia Stewart Early, Burger King, I'm Locations: Pasadena , California

☆ Nvidia’s billionaire founder: The No. 1 thing I believe today that my younger self wouldn’t understand
▼ + stars: | 2024-05-31 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Jensen Huang used to worry about not having enough time to accomplish everything he wanted. These days, the billionaire Nvidia CEO and co-founder wishes he hadn't worried so much. Huang's younger self would probably disagree with him, he added — but you should be able to do everything you want if you "prioritize your time really carefully." Be strategic about identifying and focusing on the most important things that need your attention at work and at home, Huang advised. Huang joked about skipping out on sleep in order to find more time in a 2003 speech at Stanford University.

Persons: Jensen Huang, Huang Organizations: Nvidia, Microsoft, Business, Stanford University

☆ Ex-CEO of $2 billion company: I couldn't break the glass ceiling—so I went around it instead
▼ + stars: | 2024-05-31 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Julia Stewart, the former CEO of Dine Brands, who is now founder and CEO of wellness company Alurx. Julia Stewart's rise to CEO was nothing like climbing a career ladder. She's currently the CEO of wellness company Alurx, which she founded in 2020. Sometimes, that meant moving to different regions within the same company, Stewart says. Instead, learning more about how individual restaurants brought in money opened up Stewart's career path.

Persons: Julia Stewart, Julia Stewart's, Stewart, She's, —, Carl's, Burger, Stuart Anderson's, she'd, could've, IHOP's, Applebee's Organizations: Dine Brands, Dine, CNBC, San Diego State University, Burger King, Angus, Taco Bell, Taco, Applebee's Locations: Taco

Bill Gates and Warren Buffett have given each other a few tips over the course of their friendship, which has lasted for more than three decades and counting. One of those lessons is something Gates wishes he'd learned a lot sooner, to clear up his busy schedule — and possibly even made him happier and more productive. "In hindsight, it's a lesson I could have learned a lot sooner had I taken more peeks at Warren Buffett's intentionally light calendar." Gates finally learned to cut his employees, and himself, some slack after catching a peek of the Berkshire Hathaway CEO's personal daybook. "[I] remember Warren showing me his calendar ... he [still] has days that there's nothing on it," Gates said, adding that Buffett's sparser schedule taught him an important lesson.

Persons: Bill Gates, Warren Buffett, Gates, he'd, it's, Warren Buffett's, He's, —, Charlie Rose, Buffett, Berkshire Hathaway, Warren, It's Organizations: Microsoft, Berkshire, Workers, Stanford University, Northern Arizona University, CNBC

☆ Bill Gates names his top book recommendations of the summer—and the one that's a 'must-read'
▼ + stars: | 2024-05-21 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +6 min

"I didn't intend to go deep on the idea of service, but it's certainly as relevant today as ever," Gates wrote. 'The Women,' by Kristin HannahHannah's bestseller, released in February, is a work of historical fiction set during the Vietnam War. In his new book, Anderson argues "that we need to expand our definition of generosity," Gates wrote. "Oldman plays the head of Slough House, who's basically the polar opposite of James Bond," wrote Gates. "More than a guide to better conversations, it's a blueprint for a more connected and humane way of living," Gates wrote.

Persons: Bill Gates, David Brooks, Gates, it's, Kristin Hannah Hannah's, Frances McGrath, I've, Hannah, Nightingale, Chris Anderson, Anderson, Mick Herron, Jackson Lamb, Gary Oldman, Oldman, who's, James Bond, Sal Khan, Khan, Melinda Gates, Sal, Brooks Organizations: Microsoft, New York Times, Army, Corps, TED, Apple, Slough House, Khan Academy, Melinda Gates Foundation, CNBC Locations: Vietnam, Slough

☆ Bill Gates: 'You need to read' this new book about AI and education
▼ + stars: | 2024-05-19 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

His latest recommendation comes from the world of artificial intelligence — specifically, how the fast-advancing technology might improve the quality of education students receive around the world. The Microsoft co-founder recently took to social media to tout "Brave New Words: How AI Will Revolutionize Education (And Why That's a Good Thing)," which published last week. The book was written by Sal Khan, the founder and CEO of education nonprofit Khan Academy — which is developing an experimental AI chatbot tutor called Khanmigo. "If you're passionate about education, you need to read this book," Gates wrote on social media platform X. AI tutoring could help "close the education gap" with direct help for low-income students even in developing countries, Gates noted last year on his "Unconfuse Me" podcast, in an episode featuring Khan.

Persons: Bill Gates, Sal Khan, Gates, Sal, Khan, Khanmigo —, Melinda Gates, Tovah Klein Organizations: Microsoft, Khan Academy, Melinda Gates Foundation, Barnard College, CNBC

☆ Richard Branson doesn’t like being called ‘billionaire’—why that’s healthy, leadership expert says
▼ + stars: | 2024-05-16 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

Richard Branson doesn't want to be defined by his net worth. Neither should you, according to leadership expert Rohan Verma. Anyone, billionaire or not, should try to make career choices that can foster long-term happiness, Verma says — rather than simply chasing the job that pays the most. One way to think about it: the Japanese concept of "ikigai," which is intended to help people find purpose in a busy and happy life. "Ikigai is a conflation of four different things: what you're good at, what you love doing, what the world really needs, and what you can be paid for," Verma explains.

Persons: Richard Branson doesn't, Rohan Verma, Verma, it's, — Organizations: LinkedIn Locations: San Francisco

☆ Nvidia's CEO 'had no idea how to' start his $2 trillion company, and wouldn't do it again: 'Nobody in their right mind would do it'
▼ + stars: | 2024-05-11 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

So says Jensen Huang, who co-founded computer chip company Nvidia with fellow engineers Chris Malachowsky and Curtis Priem from a Denny's booth in 1993. None of us knew how to do anything," Huang recently told "60 Minutes" about the origins of the company. Today, Huang has been Nvidia's CEO for more than three decades, and he's grown the company — through ups and downs — into a $2.2 trillion tech giant that's helping to power the artificial intelligence boom. The co-founders had never run a business before, but Huang — a microprocessor designer — believed they could build a graphics processing unit (GPU) that would revolutionize video games and computer graphics, he said. If Huang could go back to 1993 and do it all again, he'd probably bail on Nvidia, he told the "Acquired" podcast in October 2023.

Persons: Jensen Huang, Chris Malachowsky, Curtis Priem, Huang, —, he'd Organizations: Nvidia

☆ 4 ways to get kids outside more often: It's a key to raising successful children, says ecological engineer
▼ + stars: | 2024-05-08 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

The annual challenge is a great example of ways kids can use digital tools "before, during and after" going outside to increase their connection to nature, says Galle. The point isn't to encourage kids to run around parks with screens in their faces, she notes: Rather, it's "an easy, educational way to get the kids outside, immersed in their environment, and learning something." EarthSnapThis nature identification app uses a smartphone or tablet's camera to identify more than two million different plants, animals, bugs and other aspects of nature. Tools like EarthSnap are useful for nurturing kids' interest in nature, especially if you aren't an expert outdoorsperson yourself, says Galle. Try using the app as a family, Galle advises: Kids often learn behaviors from their parents.

Persons: Nadina, —, NatureQuant Organizations: CNBC, Agents Locations: Nadina Galle, Our, Galle, who's

☆ Richard Branson shares the simple mindset that's key to his success: 'I don't ever think of myself as a businessperson'
▼ + stars: | 2024-05-03 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

Richard Branson doesn't think of himself as a businessman — and he believes that helped him build Virgin Group into what it is today. "I don't ever think of myself as a businessperson, or even really an entrepreneur," Branson tells CNBC Make It. "I just see myself as somebody that loves to create things that I can be proud of." "There's many things that we've done that we wouldn't have done if we'd listened to accountants," says Branson. Perhaps ironically, the strategy has proved lucrative for Branson, whose current net worth is estimated at $2.5 billion, according to Forbes.

Persons: Richard Branson doesn't, —, Branson, we'd Organizations: Virgin Group, CNBC, Virgin Atlantic, Virgin Galactic, Branson, Forbes Locations: Branson

☆ Richard Branson says money isn't a good way to measure success: Focus on this 1 word instead, it's 'all that really matters'
▼ + stars: | 2024-05-01 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Richard Branson doesn't want to be defined by his money. Specifically, he finds it "quite insulting" when he is introduced as "the billionaire Richard Branson," rather than as the co-founder of Virgin Group, he tells CNBC Make It. "Maybe in America, 'billionaire' is a sign of success, but that rankles me," says Branson. "Your reputation is [whether] your team of people who work with you are proud of what they've created," Branson says. Financial success has often followed, but Branson is adamant that money has never been his chief motivating force.

Persons: Richard Branson doesn't, Richard Branson, Forbes —, they've, Branson, — Organizations: Virgin Group, CNBC, Branson, Virgin Atlantic, Virgin Mobile Locations: America, Branson, Vietnam

☆ Richard Branson says this decision helped build his $2.5B net worth: 'I don't think I would have gone to space' otherwise
▼ + stars: | 2024-04-29 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

He's referring to selling record label Virgin Records to Thorn EMI for nearly $1 billion in 1992. Branson needed the money to focus on a newer venture, Virgin Atlantic. CNBC Make It: How did you make the decision to sell Virgin Records? What I decided was: If I sold Virgin Records, all the people's jobs would be secure. I could then use that money to build and protect Virgin Atlantic.

Persons: Richard Branson, He's, —, Branson, Richard, Virgin, We'd, Janet Jackson Organizations: CNBC, Virgin Records, Thorn EMI, Virgin Atlantic, British Airways, Virgin Group, Forbes, Virgin Locations: London, Branson

☆ What this NFL Draft pick plans to do with his new money—from mutual funds and a Roth IRA to Air Jordan 1 sneakers
▼ + stars: | 2024-04-27 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Fiske, 24, was drafted by the Los Angeles Rams in the second round of the 2024 NFL Draft on Friday evening. "I had never been around that much money," Fiske told MarketWatch last month. Together, they've discussed "how my financial life is going to change" upon signing an NFL contract, Fiske noted. "I'm putting money into mutual funds, index funds, high-yield savings accounts and maybe exploring new investment opportunities, too," he said, adding: "I also have a Roth IRA ... But that doesn't mean he won't splurge on a fun purchase: He's an avowed fan of Nike's Air Jordan 1 sneakers, for example.

Persons: Braden Fiske, —, Fiske, you've, they've, Roth, he's Organizations: Los Angeles Rams, Florida State University, FSU, NFL, Roth IRA, Air, Honda Accord, CNBC

☆ NFL draft prospect who could get a $2.7 million signing bonus still drives his old Honda Accord: 'It gets me from A to B'
▼ + stars: | 2024-04-25 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

That would mean a likely contract of around $8 million over four years, including a $2.7 million signing bonus, according to MarketWatch . The idea of young athletes reaping instant riches has long been an annual subplot of the NFL draft. The money I received gave me a peace of mind I did not have previously," Fiske told Business Insider. Though he made some savvy choices, Fiske admitted he made "a few mistakes" early on after receiving his NIL money. "I'm sure I'll give in once I see more 0s on my account," Fiske told MarketWatch.

Persons: Fiske, Braden Fiske, he's, He's, he'll Organizations: Honda Accord, Florida State University, NFL, NCAA, FSU, Business, IRA, Air, CNBC Locations: Detroit

☆ Vending machine founders get $1.5 million 'Shark Tank' offer—despite a business model Mark Cuban called 'a huge mistake'
▼ + stars: | 2024-04-23 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Dan Braido, Audley Wilson and Andy Siegel are the co-founders of RoboBurger, which makes vending machines that dispense customized burgers — a concept they call "the future of fast food." Yet by the end of the episode, O'Leary teamed up with a guest judge, Fanatics CEO Michael Rubin, to offer the RoboBurger founders $1.5 million. Seeking $1.5 million despite no profitsThe trio of founders brought a vending machine for the judges to try. RoboBurger's vending machine on display on the set of ABC's "Shark Tank." At the time of filming, RoboBurger had been in "beta testing" for 18 months, with more than 12,000 burgers sold, the founders said.

Persons: Dan Braido, Audley Wilson, Andy Siegel, Kevin O'Leary, O'Leary, Michael Rubin, Rubin, Cuban, Christopher Willard, hadn't, Siegel, RoboBurger didn't, RoboBurger, Wilson Organizations: RoboBurger, Disney, Sharks Locations: Jersey City , New Jersey

☆ 4 things successful parents do to raise mentally strong kids
▼ + stars: | 2024-04-23 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

People with mental toughness exhibit a range of traits and qualities that make them more likely to be happy, successful people, including confidence, perseverance and resilience, research shows. Kids and adults alike can develop and hone mental toughness over time, researchers say. Here are four things parents can do to raise mentally strong children, according to psychologists and other parenting experts. The catchphrases should be short and easy to remember, according to Morin, who is also an author and host of The Verywell Mind Podcast. Teach them how — and when — to apologizeA key aspect of mental toughness is emotional intelligence, which includes empathy and self-awareness.

Persons: Amy Morin, Morin, Mary C, Murphy, you've, Wendy Suzuki, Michele Borba, we've, —, they've Organizations: CNBC

☆ Reed Hastings shares the 3-word tactic that helped make Netflix a $240 billion company—it's called 'farming for dissent'
▼ + stars: | 2024-04-20 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

If you work for Reed Hastings, you'd better be ready to express your dissatisfaction. Good leaders seek out critical feedback whenever possible, the Netflix co-founder and chairman recently told entrepreneur Tim Ferriss' podcast, "The Tim Ferriss Show." "Because it's difficult, emotionally, in most companies to disagree with your manager, we call it farming for dissent," he added. "We have managers do things like [ask]: 'What are three things you would do differently if you were in my job?'" The strategies that didn't work served as learning opportunities, he added.

Persons: Reed Hastings, you'd, Tim Ferriss, Hastings, he'd Organizations: Netflix

☆ Netflix co-founder swears by ‘great business philosophy’ from Jeff Bezos: ‘Take a lot of risks on things that are recoverable’
▼ + stars: | 2024-04-18 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

When it comes to taking risks, Netflix co-founder Reed Hastings has an important rule of thumb. "I try to take a lot of risks on things that are recoverable," Hastings said in a recent conversation on entrepreneur Tim Ferriss' podcast. A two-way door risk is easy to take because it's reversible, so "you can come back in and pick another door," Bezos said. But a one-way door risk probably can't be undone. In 2017, Hastings told CNBC he was actually pushing his content team to "take more risk" in that regard.

Persons: Reed Hastings, Hastings, Tim Ferriss, Jeff Bezos, Lex, Bezos, — Hastings, Ferriss, Fortune Organizations: Netflix, Amazon, CNBC, Peace Corps Locations: Swaziland, Africa

Berkowitz, 43, is the CEO and co-founder of Insomnia Cookies, a chain of late-night bakeries he started in 2002 as a college side hustle while attending the University of Pennsylvania. "2009 and 2010 [were] some of the hardest years ever at Insomnia Cookies," says Berkowitz. His wife Rebecca — who's also responsible for the name "Insomnia Cookies," Berkowitz says — responded with some perspective and optimism. "When I talk about the brand and our journey, [I often say] that Insomnia Cookies is a perseverance story," says Berkowitz. Sign up for CNBC's new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories.

Persons: Seth Berkowitz, Berkowitz, Krispy Kreme, DON'T, Rebecca — who's, —, You've, he'd Organizations: University of Pennsylvania, CNBC, SEC Locations: —, Syracuse , New York, Champaign , Illinois

☆ Mark Cuban shares his No. 1 favorite way to inspire young kids—it's as easy as pointing to a lightbulb or chair
▼ + stars: | 2024-04-14 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Mark Cuban has a simple tactic for inspiring young kids — and getting them to think about their own limitations, or lack thereof. "I get emails [from] kids around the world, because 'Shark Tank' is shown everywhere, asking me business questions," Cuban recently told the "Lex Fridman Podcast." The tactic is as simple as pointing to a lightbulb or chair. "When I go talk to elementary school kids, one of the things I do, I say, 'OK, let's look around. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: Mark Cuban, Lex Fridman, Mary Murphy, Murphy, that's Organizations: Indiana University, CNBC, Cuban, CBS

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