How I Spend It: Zak Brown

Motor Racing – Formula One World Championship – British Grand Prix – Race Day – Silverstone, England

We have a very strong businessman, a former professional race car driver, Founder of JMI and Chief Executive Officer of CSM Sport & Entertainment, mister Zak Brown to open his wallet for us this time. Enjoy!

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What was your first salary?

Six dollars an hour. It was for working in the mailroom at Lorimar studios.

Do you have any credit cards?

Yes, a few.

Do you save or spend?

Fortunately, I’m in a position to do both, but I much more prefer spending.

Have you ever been hard up?

Yes, for the first 30 years of my life.

What is the best deal you have ever signed?

Ending the spirits ban by getting Crown Royal into NASCAR.

Do you invest in shares?

I absolutely do.

Do you believe pensions are a good thing?

It depends entirely on who you are and what your financial objectives might be.

What has been your best and worst investment?

The best is my 1986 Lotus-Renault, Ayrton Senna won a couple of Grands Prix in that car. The worst has to be my plane.

Do you manage your own financial affairs?

No, I leave to the professionals at UBS. However, I follow what they are doing for me very closely.

What is your top financial priority?

To keep earning enough to let me continue to enjoy the lifestyle I have right now.

How many holidays did you take last year?

How many what did I take last year?

Do you have a money weakness for anything?

Yes, cars!

What is the most extravagant item you have ever bought?

My racing car collection… and it’s still growing.

Have you ever played the lottery?

I haven’t, because I believe in making my own luck.

What is the best piece of financial advice you have ever been given?

It’s pretty simple – “don’t spend more than you have”. I can assure you it definitely works.

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