Songwriter, singer, and producer Ryan Leslie could teach you a thing or two about stock investment. Most people do not know that Leslie is an accomplished investor with years of experience in the industry. He was one of the earliest investors to buy Apple stocks, a decade before the company broke the trillion-dollar revenue ceiling.
The “Addicted” hit singer first invested in Apple in 2009, at a time when the company was just a shell of what it is today. His instincts and patience have seen his $100, 000 investment turn to $16 million today. However, Leslie does not take credit for his success in the Apple investment.
“I remember a conversation I had with my mentor. I said, ‘Hey look, man. I took your advice and man, $100,000 to $350,000″ said Leslie while speaking on the “Earn Your Leisure” podcast.
He explains that, when his initial investment of $100, 000 turned to $350, 000, he was ready to cash out and buy his mother a gift. However, his mentor advised him otherwise and he took the advice.
” ‘You can go ahead and cash out, give something nice to your mom. We’ll shake hands and I’ll never teach you anything again. Or, you figure out a different way to give something nice to your mom and hold onto that investment and we’ll check in every single year around tax time and we’ll see what it grow[s] to.’ ” Ryan narrated his mento’s response
According to Ryan, having a mentor is important, and using the expertise of those who know the industry is the key to success. Even though he was happy with his initial return of $350, 000, he needed the guidance of an expert to see the future.
“If it was up to me, I’m looking in the mirror and thinking, ‘Man I’m smart. I made a great investment,” he continued. “It’s given me a great return.’…… Sometimes, the lens of expertise and the lens of experience can actually provide you wings that allow you to fly further than you can fly on your own.”
Thanks to his sharp investment skills and teachable spirit, Ryan has gained vastly from a small investment. He advises those who wish to grow their wealth to listen to experts and be patient.