Transcription
40% of America is black and brown today. Within 10 years, it'll be a majority of minorities. The economy is $29 trillion, the biggest economy in the world. Most of the wealth is here, by the way, in the United States.
The economy is 70% consumer spending. 70%. 70% of Americans are living from paycheck to paycheck. By the way, everybody, but it's the economy is consumer spend, not wealthy people, not the government, you and me.
If we're 40%, if so, if we're 40% now heading to 50%. And you have more people under 18 and over 65. And you have the largest group of Americans who are baby boomers today who are 65 years old, which means wealthy, rich, white, trying to go play golf all at the same time. So, they're leaving this, they're leaving the stage room in 10 years all together. Am I with you so far?
That's $150 trillion of wealth. $50 trillion created in the last 25 years. You're gonna have a hundred trillion dollar wealth transfer in the next 10 to 20 years. 15 trillion trillion dollars of that is business, uh, business assets. The people who own these assets, they're going to give the do inheritance the car, sorry, the cars, the houses, the stocks, the bonds, the cash to their husbands, their wives, their children. The the the family don't want the businesses. They're like, "We good. That's too much work." These are successful businesses with brands. They have assets, cash flows, customer lists. Thomas, when I'm talking about you, they're perfectly fine. Nobody wants them. $15 trillion worth of that. And all you have to do is go buy it.
And let me tell you what, it is easier. If you didn't listen to anything I had to say, listen to this. It is easier to go to Wall Street and to get and to get Wall Street to finance a $10 million acquisition of a profitable business with a cash flow of customer list and assets and real estate already there. It is easier to get that done than to start a pizzeria with a $50,000 GoFundMe campaign or a mortgage that you got to personally guarantee. It's called non-recourse debt. Private equity will finance that on its cash flow and assets alone. You're just a placeholder. The owner is a placeholder. Am I losing you? That's a TRILLION DOLLARS OF POTENTIAL asset transfer for us in the next 10 years.
The color is not black or white. It's not red or blue.