PM [1]
Rank : Helper
Status : Super Owner
#1
Jake Kassan, who sold his company for $100 million at the age of 27 in 2018, initially believed wealth would bring him happiness. He now reveals that instead, it led to a loss of purpose and struggles with anxiety and depression.
"The North Star for me when I was younger was always financial freedom," Mr Kassan told CNBC Make It. "I always felt my purpose was to make money."
A college dropout, Mr Kassan founded the Los Angeles-based accessory brand MVMT Watches and later sold it to the Movado Group, leaving him a multi-millionaire.
However, after the sale, he struggled to find meaning. "I think I lost purpose," he admitted. "For the first time in years... nothing felt as important as that entrepreneurial journey." His mental health, already affected by anxiety and panic attacks, worsened after selling his company.
As time went on, Mr Kassan felt an increasing void. "I finally climbed to the top of my mountain, but I didn't find what I was looking for," he shared in a YouTube video. He also found it difficult to talk about his struggles.
"I turned 30, I [had] just gone through a breakup... I had friends, but finding people who truly understood how lonely it felt was difficult. It was emotionally depleting," he told CNBC Make It. In his video, he posed a question many wouldn't expect: "How do you empathize with someone who is rich and depressed?"
Now 33, Mr Kassan is focused on rediscovering his sense of purpose. He is building his YouTube channel and working as an angel investor.
"I can't buy more peace of mind," he said. "That's my relationship with money. I'm grateful for it, I appreciate it, and I'd rather have it than not... but it won't make me a happier person."