Serial Entrepreneur Thinks Net Worth Doesn’t Matter
Narcissism and more
Despite moving from Pakistan to the US as a poor teenager, his websites include WPBeginner, OptinMonster, List25, and Envira Gallery. Surely, a man behind such sites had to generate some ruckus in the financial world…
When Googling the net worth of Syed Balkhi, the results were surprising. The first result was an article by him that says net worth doesn’t matter.
Net worth and narcissism
Balkhi starts with:
“You’re probably thinking that I am some sort of narcissist writing about my own net worth in third person.”
Who would be a better person to detail Balkhi’s net worth than himself? It doesn’t have to be narcissistic. One could simply be interested in how rich someone could get from achieving what he has achieved.
Of course, not everyone following his footsteps will achieve the same wealth, but it’s a decent guideline.
He actually ends the piece with his greatest accolades:
- OptinMonster – serving over 3 billion impressions monthly
- List25 – over 1.8M subscribers and 340 million video views on YouTube
- WPBeginner – the largest free WordPress resource site
- Envira Gallery – over 30,000 active websites using the plugin
By the same token, one could guess that Balkhi thinks posting such stats is narcissistic too, although that doesn’t have to be narcissistic either. Again, those are metrics that can give aspirers an idea about what kind of hard work provides which results.
Admittedly, most people would consider money to be more personal than such stats, but stats and net worth can fall under the same category of “flexing”, well, depending on the person’s intent.
Net worth as a success catalyst
Balkhi also says:
“Knowing someone’s net worth is NOT going to help you succeed.”
What if someone demotivated was able to find motivation through others’ net worth?
We all do something similar in one way or another:
- We have a rough idea of how much a cashier is paid versus how much an engineer is paid. We are then motivated differently to pursue job A versus job B.
- If we decide on engineering, we still want to know how much we will get paid, how high raises would be, and how rich existing or previous employees became at said company.
- We look at our engineering friends, acquaintances, and family to get an idea about what they were able to buy with their wealth.
Of course, there are manipulated variables like taking out loans, but again, we’re just talking rough reference points here. Two engineers at the same company will use their wealth differently, and they might have side hustles.
Being curious about Balkhi’s net worth is not identical to knowing engineers’ salaries, but it’s similar enough to make sense.
Net worth as a goal fulfiller
Balkhi hits a homerun here:
“However understanding the metrics you use to judge your own net worth will help you set smarter goals which as a result will help you succeed.”
Though, he also says this:
I’ve always hated income reports because I don’t think they’re productive.
After looking up so many people’s net worth, it’s easy to get inspired to calculate one’s own net worth. Then, there would be a clearer image of one’s finances. It would be easier to set goals and say something like, “I’m 28, my net worth is $15K, and I’d like to crack $1 million by age 30.”
Net worth as a happiness indicator
Balkhi hits another homerun:
“But in reality, we were a happy family when we were poor, and we’re a happy family now — and for me that’s the most important metric!”
Assuming basic needs were met before, money can improve one’s life and potentially make him or her happier if he or she was already happy. A small house might have been sufficient, but a new mansion is even more sufficient.
Happy there, happier here!
There’s a reason why successful people’s net worth is frequently searched. Unfortunately, some search it recreationally, but others convert it to kinetic energy.
Balkhi seems to have an absolutist take on net worth. In the end, he’s the successful entrepreneur, and his take must have contributed to his success, so it’s important to take what he says into consideration.
Otherwise, calculating Balkhi’s minimum yearly revenue is doable by using third party analytics combined with the stats he so generously provided, but to stay in accordance with his message, let’s not delve into that number here. It’s something you can do in your own time if you find value in it.
In the meantime, what’s your net worth?!