Mistakes Billionaire Make With Their Family

Are there mistakes that mega wealthy parents make? Author of The DNA Code Mark Demos stops by the Valuetainment studio for an in depth conversation with Patrick. Watch this full interview and make sure to subscribe to Valuetainment for all updates: bit.ly/2aPEwD4
About Mark Demos: Author of The DNA Code amzn.to/2McMOHX
Link to My Life Scene: bit.ly/2SFu1Gr
About Valuetainment: Founded in 2012 by Patrick Bet-David to impact entrepreneurs around the world through value and entertainment (hence Valuetainment). We cover all things entrepreneur related and want to inspire or help all types of entrepreneurs on their journey to success. Meanwhile providing them unique perspectives and insights from some of the most interesting and popular minds in media today.
Music selection used through agreement with Epidemic Sound bit.ly/2B8DxK1
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[@VALUETAINMENT]

Share your thoughts with Patrick Bet-David by texting 310.340.1132 or click here my.community.com/patrickbetdavid

[@carolynq6581]

Look at Trump's kids and learn, Dems.

[@TommyTrucksJr]

"Thinking you can give your kids things more valuable than you, you will lose...you will always lose." Fantastic interview PBD! Never heard of Mark Demos until this interview. Really appreciate the work you do on Valuetainment.

[@DW-vl2wi]

Lose*.

[@crackheadmkufams]

This is great and true. Please do one about "mistakes poor parents make that keep their children poor". I feel I lived most of these. My father never talked about money except to complain about not having any. I was poor until I met a man in my 30's that taught me about money. By then I was broke, no savings and my credit was destroyed. I knew nothing because I was taught nothing.

[@VinnyMickeyRickeyDickeyEddy]

Are you doing ok now? If not I have some advice if you want it.

[@therearenoshortcuts9868]

One of the worst things you can do to someone is to completely deprive them of an Enemy . for most people the Enemy is simply having challenges in life if you lose that - that's the beginning of degeneracy/idiocracy

[@ThePravein]

Well said! True!

[@jt2466]

Your worst enemy is often yourself. Most people destroy themselves to a greater extent than any outside enemy would to them.

[@rafizxDx]

Pat always thinking about the long game. His kids are still young yet he is preparing for when they are teenagers and older. And also preparing those of us that have kids or want kids in the future. Thanks Pat!!

[@ReallyFarFarAway]

⛔️ One of the best interviews so far : well communicated guy AND an interesting topic ⛔️

[@Officialryanherrera]

Check out the interview I did with a Canadian millionaire!

[@Je.rone_]

*Me and a comrade were discussing this yesterday.* He said he wouldn't want his kids to want for nothing if he were super rich(implying he"d give them every thing they want). I said I'd rather give them the tools(knowledge) to build the life they want for themselves so getting what they want in life is not contingent upon if another person is willing &/or able to provide the things they desire. 💪

[@ruburtoe1]

Love this view. Like a "big, rich, and connected" friend who mentors you by directing you to opportunities by interests and importances they observe in their progeny, and strategically helping opening the door with their influence and resources (like access to tools).

[@Je.rone_]

@@ruburtoe1 🙂

[@stephlon6757]

Wow, I’m only at 7minutes and I’m loving this ! What a wise mind. God bless pat for allowing us into the minds of these people. Hands down my favorite KZbin channel.

[@VinnyMickeyRickeyDickeyEddy]

"When you engage talent with a challenge, emotional problems go away"... wow that is such a cool statement.

[@TheGrreatDane]

The fact he stated that Microsoft HR highly values ADHD and ADD prospect just rang a bell within me... My "curse" might actually be a gift...

[@Dalalifyy]

You are unique, don't let anyone tell you otherwise!

[@AnnLaustsen87]

Wow, this made it onto my favorites playlist and that's saying a lot. I'm an only child and lived a sheltered life. It was rough in my 20s figuring out who I am and where I want to go. Thank you so much for interviewing this man.

[@phoenix-king779]

Im the only child at the age of 17 right now. Any tips for socializing better or any tips that helped you out in general. I keep telling myself I need to get out more but I’m either busy that fay or no one wants to hangout. Im active in sports but thats only a few times a week. School starts back in a couple or weeks so this year im planning in going to as many sporting events as I can. hopefully after Hs tho i get into college and join the military as a pilot after. Then go into real estate.

[@PassiveIncomeTom]

Rich or poor, bottomline, parents need to teach their kids to do the Right Thing. No excuses!

[@pabloforstner486]

Passive Income Tom yeah there’s a lot of poor kids who are just like that

[@mattwanders2704]

Totally agree

[@johnnyb33good21]

What's the "right" thing?

[@thelatterdayarbiter]

Johnny Mack ask the missionaries 😉 The invitation is there, but it’s up to you to decide what to do with it

[@richardpotter6313]

@@johnnyb33good21 A moral compass and self sufficiency. That'd be a good start. Unfortunately it's hard to pass on if the parents have neither.

[@tafaragadze6432]

I was already captivated by what mark Damos had to say about raising kids, but hearing that he is from Zimbabwe, that he is a fellow Zimbabwean just strick a new cord. Now I'm listening even closer at what my brother has to say. I myself was raised in the african way, when children are little more than extensions of their parents wishes. You be the doctors, manager, banker, etc that your parents want you to be, not the architect, designer, graphic designer you want to be. I want to learn how to break the line, to make a change, to be the change. I am not $100 million yet, but I am on my way there.

[@amicuscoach59]

Hey Tafara thanks so much for the comment. Great to see another Zimbabwean on here. Thanks for your strong sense of direction and sharing it. You are making a difference and I can't wait to hear amazing things about you in the future.

[@apituraga9488]

This is the best of all that I have watched on this channel. The guest seem full of respect, and character, I can't notice him ever laying his hands on the table. Lots of lessons in this one. Thank you guys for putting this through.

[@ajax2600]

I'm only 10 minutes in and this video/guest is on my favorites list VALUETAINMENT has created. Thank you.

[@lotus92620]

My sister went to Harvard and survived without having to hire attorneys if her grades were sub par. She just changed majors and is now a doctor. I'm proud of her considering we didn't grow up with a silver spoon and were raised with ethics not entitlement and learning the importance of working hard from a father that cared about his family so much that he'd do everything in his power to make sure there was always food on our table.

[@enu8886]

This is the type of stuff that people need to hear. It's all about setting our future generations up for success, the right way. Nothing beats good ole fashion HARD WORK. Work ethic cannot be bought, it has to be instilled and learned at a young age. Parents should be the prime candidates for providing that to their children.

[@NestorMaravi]

What a powerful interview about self-worth and self-image. Wow! My biggest takeaway so far is make sure you find something that fulfills you so you can face the bullies in your life. Forgive yourself, and move on!

[@hannahi9355]

I don't think it's just a money thing though. I think over protecting any child regardless of economic status is a recipe for disaster.

[@mithunbalan4973]

Agree to that

[@stephlon6757]

Very true !

[@hannahi9355]

@@tempusername-l5d just because a person comes from a rich family it doesn't mean they are automatically going to grow up ruined. If anything I think having rich parents can be motivating at times. I know people that aren't rich that are extremely lazy and overindulged and people with money that aren't. I think it depends on the work ethic of the parents. But I don't have billionaire parents so I don't know. I just don't buy that coming from money is always a bad thing.

[@johnvicente7142]

BEST INTERVIEW SO FAR PAT !!!!! ALL THE WAY FROM SOUTH AFRICA...!!!!

[@gmgexpressca]

The 43 or 44 people who press dislike have no clue about life in any aspect, this interview have so much great pointers from both side

[@dteimuno]

Patrick, thank you so much! This video is perfect! My family is not super wealthy but we are kinda rich and I see what not being pushed can do to a child's life. This video is perfect!

[@Trevormy]

O my goodnes. This is the best interview ever! And I have watched almost all of the PBD interviews, be sure! Call to emotional intelligence overall and it was well timed for my current human crisis and focus

[@osse1n]

*Spoiling children is a long lasting punishment.* The best gift of life is to be brought up with adversities and hardships. Those will create a character.

[@amicuscoach59]

@Keep Rocking! There is no growth without the need to get stronger. You cannot grow stronger without going up against something or someone bigger and better than you. Life will bring you all of that. I lived in Seattle for 20 years and visit SF every year. Those who live on the streets have ended up there because of the Democrats who run those cities. The city government don't care and never have. They tax businesses and use the money dedicated for homelessness and addiction for other projects and if 10% ever gets to the homeless, god luck. There is only one way in all of life to be more and have character. Adversity and them my choice to face and work through it.

[@amicuscoach59]

@Keep Rocking! shame you poor boy. Being as utterly ignorant of any of the basic processes of life might be fun but often dangerous. If I can help with a referral to a psychiatrist or other situation where stress and adversity are for the most part excluded, let me know. I love Seinfeld and you remind me of the Bubble Boy. All the best and stay locked in the basement.

[@jupiterjunk]

One acquaintance of mine, Marc, setup a matching W-2 in his trust. . What ever his kids got on their W-2's, the trust would match; same for their spouses, if the spouses sighed the prenup and their son/daughter is working as well. The Trust doesn't match unemployment, just their W-2's. He has some calculations for volunteer work, but I didn't follow. The point is, tt allowed his daughter to become the artist she always wanted to be and his son to be a mechanic. The son now own his own shop (restoring classic MOPAR vehicles) and his daughter has a small gallery. They don't have to struggle, but the more they put into their work, the more they are rewarded. But they MUST work. No free ride. No he didn't cover for his kids missteps in life. Marc even let his son go to jail for a DUI. Jason never drank again. He was eclectic, but a really cool dude.

[@TheMandinotan]

One of the most underrated videos. Depending on what you do, you can use this to add value to the HNW/UHNW in your circle

[@GablonzerLP]

It‘s like Minecraft: it is more fun to play in survival mode than creative mode.

[@nurtured-channel2953]

Paris Hilton did mentioned that in a her latest documentary...that she can't trust anyone anymore... and rather have the validation from her fans ...then the ppl in her circles

[@georgeinjapan6583]

Who to blame ? Conrad Hilton ?

[@AlWheelin]

At 52:00, where mark talks about Aspergers and being technical, lacking in social graces and get the job done, very interesting as I know someone that may have this tendency. Knowing this may cause future success for this person, thank you so much for sharing this important interview.

[@esaqkallon2080]

priceless conversation!!!!!!!!!!!!!!!! Absolutely Amazing. will have to listen to this over and over again.

[@EngineerDJ_Julius]

Parents need to raise their own kids and take full responsibility, that's it. Influence that lead kids astray are everywhere!

[@jt2466]

BASICS: A peaceful harmonious home environment. Don't argue in children's presence. Practice what you preach as an example to follow. Always be truthful no matter what. Create a home environment that promotes positive attitudes and understanding. Encourage children to take music lessons for a preferred instrument. Learn foreign languages. Practice hobbies of choice. Travel to foreign countries when school is out. Participate in a good deeds project.

[@woodolphlorfils4299]

This is as real as it gets my younger sister made it to an IVY league from under paid high school we both went to the same high school she tells me these problems everyday! And they simply just cannot relate. And money is favoritism. And as far as getting tutor for your kids early on without putting a fight, I can approve from experience it doesn't work. It tells your kids you don't believe in their ability.

[@harishkrish7189]

Mark was my cricket coach in dallas texas he is a great motivator and mentor

[@Q_QQ_Q]

who are you ?

[@kathleenherriott4006]

Thank you very much for this interview, Patrick. I thought is was so insightful and "valuable."

[@noah-gordon]

Rich parents need to show there children both sides of life so they can appreciate wealth.

[@teronjames7457]

take good care of your children, teach them well.....they're next in line to be....a good leader....good teacher.... or what ever they wanna be in the future....with good knowledge...of thinking, integrity...truth in respectful way of living....don't let this slip away....don't let this problem happening again....in the future....your children will suffer if YOU PEOPLE don't do anything...

[@dusanmilojevic8489]

Give your children most valueval thing....your time and your energy....

[@ericwilbanks9692]

"It doesn't cost me anything to waste my parents money."

[@Firm-Tofu-King]

Spending time is the best u can do.every human being walks by themselves eventually

[@PinkuStyle]

People rich or poor will get away with what is allowed or tolerated.

[@seedlyng]

Mark spent 1 hour with me in Starbucks and gave me advice and coaching that launched my company! Wonderful man of God.

[@retrohaxblog]

Patrick, I watch your vids for quite a while and these are extremely awesome .... but this one beats 'em all!!!

[@theunvoicedvoice]

Amazing video. Unique insights. I haven't heard many of these things. Truly listening to a lot of these golden nuggets for the first time. Mark is filled with positivity and a growth mindset. His abundance attitude left me quite touched. SPIES concept is super easy to remember and a blast to implement. I am having a lot of fun with this. Thank you, Pat & VT Team.

[@giovannip.1433]

Some of the 'mega wealthy' schools out there are 'decidedly dodgy' - which can be detrimental to the 'self made' wealthy growing their wealth and maintaining their moral compass of their family. Many Colleges/Universities aren't open to new ideas unless it follows 'the plan'. That causes anxiety - knowing something is wrong and having limited choices to fix it due to controls put in place.

[@daniel_najar]

Within 5 minutes of watching this I already know I gotta watch the whole video. Very interesting points being made.

[@craigf.5602]

Really appreciated Mark's experiences and opinions. Very insightful excellent guest Patrick

[@InvestingEducation]

Ppl including rich children need to experience mistakes and even some hardship so they learn better. Learnin from these experiences has made me a better investor for my stocks portfolio on my channel.

[@colling.7398]

Very powerful video. Great interview Pat! Im very surprised this video didn't get more view's.

[@uvwxyzero]

Thank you for this Patrick this is such an insightful video. Mark is so articulate and really comes across sincerely I can see why his clients work with him. Listen up guys when you become rich.

[@vineninja5882]

"for most parents they're probably doing a good job or THEY THINK they are doing a good job"

[@narcismebelgie]

Rich, money, success? What about authentic parental love?

[@hannahi9355]

I've been thinking about this topic alot recently. What a coincidence. It's a good topic though. There's no point having a lot money of it messes up the next generation.

[@markom001]

Wow Mark is such a good and knowledgeable guy! Great interview!

[@martinvestergaardportraits5654]

Complaint: I watch all valutainment videos, and now I have started to say "Boom" when I explain things to my friends and relatives ...

[@richardpotter6313]

Better than watching Emeril and saying BAM! 👍

[@ORagnar]

22:10 I recently read "Flow: The Psychology of Optimal Experience" by Mihaly Csikszentmihalyi. It sounds like about the same idea. You find the realm between anxiety and boredom in the performance of a task, a hobby, a career interest, etc. You challenge yourself, but don't push yourself beyond your abilities, and you don't under achieve. You don't do something that is not a challenge. When you're in flow you are improving and you are enjoying it.

[@amicuscoach59]

Great observation. I use Flow in much of my work and we use it as an experience and talent identifier.

[@amicuscoach59]

If you email me at [e-mail] I will send you a short video I did on Flow.

[@swirlcrop]

This is such a good interview. This guy, Mark Demos, is amazing. Thanks for sharing your story and good luck.

[@bonnie5546]

AA Steps & Traditions can guide most anyone for any reason - You're right, only if a person knows we gotta change what we're living. As usual - Great show. Thank you both.

[@amicuscoach59]

Thanks so much Bonnie.

[@peterwilson8607]

Great Interview 😊 Thank you both and Pat's team 😀

[@Isweartolucifer]

*What I want for my kids, is to start their own company, as young as14 years old. Have a mentor to help them. So that they won't relay on my money. ZERO trust funds. For my kids but I will only fund their company at the start*

[@naijawindandsolar]

The voice of your guest is soothing - just like balm.

[@stlouisix3]

He's from Johannesburg, South Africa (an Afrikaans place) but he's Greek South African. Lovely man💯

[@thebign8886]

The interviewer was exceptional asked awesome quality questions was present and listened mindfully

[@vika.k.avictormoyo6718]

Wow shout out from Zimbabwe....🇿🇼🇿🇼🇿🇼 what a surprise.... 🔥🔥🔥🔥

[@michtig]

Parents (both of them) need to be actively present in their kids' lives, constantly, to teach them strong foundations and help them navigate life into adulthood. A lot of wealthy parents are absentee in their kids lives with round the clock nannies or never home-always at work. It's a similar type of neglect like when poor fathers take off to Florida and abandon their kids while poor mom is preoccupied trying to find a boyfriend, but unlike those poor kids, rich kids who are emotionally abandoned are heavily distracted by toys, trips, after school programs, etc. Whether rich or poor, most people that have their s%^t together had an active parental presence in their lives, while you can say the opposite for those who are colossal failures with dumb emotional trauma in both rich and poor upbringings.

[@PatrickCogen]

Great one! Success requires lots of hard work and the patience as well! That's what I focus on on my channel :)

[@PVergara]

Great topic, as a parent it is always valuable information to learn to be better, rich or poor.

[@OthMar39]

I wish that people watch the first half of the video to know that the money is not the answer

[@xXstevlomXx]

You should do an interview with Sylvester Stallone!

[@indraneelpatil9168]

Great interview and insight on parenting.

[@EliteClinicalResearch]

Im glad his companies executive leadership is diverse. 2 women and a black dude!

[@doreenlopez2640]

Good morning!!! ☀️ rise and grind!!

[@Kwsowner]

People is getting more anxiety because they lack spirituality and we moved away from God.

[@sweetpotatox1007]

2Corinthians 3:17 and where the Spirit of the Lord is, there is liberty.

[@lifehope4603]

Actions done by the few to control the world: education, healthcare, science, foods, water, etc.... Cuba US embassy officials returned home with brain damages & hearing losses. Social media is deadly for our kids. Epstein scandal. Real Christianity leaders are needed & not those mega preachers.

[@expendable4h002]

It really has to do with engagement from the parents to their children. Lots of rich people pay other people to be the parent so they can live the same lifestyle they did before children. Nanny's, maids, butlers and the list goes on.

[@MindNow]

*If they grant you everythig and not let you work for it, you won’t really value money much* 🙏

[@kurtstergar1042]

Mark should be on Phil McGraw's show.

[@thetruckersmanifesto3873]

Money can get you in trouble you’re not even capable of imagining.

[@Andreas_UK]

Great interview 👍

[@SSTricky]

Mark spoke about dealing with bullies. I'm curious how you deal with bullies Pat. Do you agree with Mark? Do you have a similar method? How do you teach your kids to deal with bullies?

[@JeffPepe22]

Awesome interview , Thanks.

[@gmgexpressca]

Im so impressed with this interview

[@maryamabuhijleh71]

Very interesting watch, especially what happened in Dubai recently on every news network now.

[@gerardoesquivel9919]

What is happening there?

[@fabriceizzo2922]

Let's not forget that there are poor kids who are complete failures and rich kids who have succeed on the own (mostly).

[@DidiArte]

Thank you. Love this guy.

[@lauriealexander5857]

Awesome vlog!!!!!

[@cleo7363]

I love this discussion.

[@HassanMushaid]

This will prob save me years of heartache and headache 🙏. Be a student of life.

[@gemini9955]

Amazing stuff Patrick! Keep it up!

[@somedude3349]

Please make a video on how to manage college and business together cause a lot of college watch your videos

[@somedude3349]

Please tell him guys if you agree

[@argenus]

I agree. I want to build a buisness, while I am at university. I don't want to wait and I build the foundation up right now.

[@MatthewSouza]

@@argenus then leave school and get to work or build it while you're in school in your free time..no parties on the weekend.

[@MatthewSouza]

The answer is work your ass off and dial back your social life. Weekends and holiday breaks from school is your time.. use it productively.

[@somedude3349]

How many hours to business and how many hours to college

[@davidgmaster]

... Telling them you are a billionaire is mistake #1

[@Toneload11]

A great book to read about this issue is from James e hughes jr. Family wealth and other books from him. Im struggling with the same issue. How i would leave my wealth for my future kids

[@hotpepper5037]

Don't be they have to create their own live.

[@jonathanwaugh5216]

Great interview. Good job

[@georgeinjapan6583]

""Setting up his heirs with a lifetime supply of food stamps just because they came out of the right womb be harmful for and is an antisocial act. To the perfect amount to leave children is ' money they would feel they , but not much they nothing."--George Clooney in *the Descendants

[@nicholasgeorgiou9043]

You are only as good as the teacher. It is perfect practice, not practice make perfect. Train them right from the start so they can finish!

[@pamelalewis2776]

I would love to talk this MAN. He is so on point.

[@amicuscoach59]

Hi Pam you can email me at [e-mail] I would be happy to talk. Mark

[@AlexZubarevAlexZ]

great content buddy! helping your youtube algo

[@TomaszOstojski]

Very, very important show, mostly for fathers (with own companies).

[@truthoneal931]

AMAZING!! This ALL points back to learning the Bible. 💙

[@briansomers613]

No it doesn't.

[@truthoneal931]

Brian Somers sorry you feel that way.

[@briansomers613]

I'm not..

[@flawns]

much better than mafia interview

[@J3envenuto]

One of the best interviews I've ever seen

[@thepooaprinciple5144]

65% Pro Athletes go bankrupt after 5 years of retiring, Lottery curse.

[@ciontamoore8822]

The Pooa Principle bankruptcy dnt mean your broke homie

[@thepooaprinciple5144]

@@ciontamoore8822 ya but because of their bad spending habits they set themselves back...Like way way back.