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Draft:Grant Cardone

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  • Comment: Thank you for the submission. Please consider making the submission more encyclopedic tone Trex32 (talk) 16:06, 23 February 2025 (UTC)
  • Comment: Several junk sources, but no reliable independent secondary sources discussing Cardone in any depth. bonadea contributions talk 13:58, 31 October 2024 (UTC)
  • Comment: The references are no where near WP:RSes. The mainspace name is protected and I think we need to block the draftspace as well. CNMall41 (talk) 06:05, 12 April 2023 (UTC)

Grant Cardone
Cardone in 2015
Born (1958-03-21) March 21, 1958 (age 67)
Lake Charles, Louisiana, U.S.
CitizenshipUS
EducationLaGrange High School[1]
Alma materMcNeese State University
Spouse
Elena Rosaia
​
(m. 2004)​
Children2
Websitegrantcardone.com

Grant Cardone (born March 21, 1958) is an American businessman, real estate investor, salesman, motivational speaker, and writer.

Early life

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Cardone was born on 21 March 1958 in Lake Charles, Louisiana[2][better source needed] to Concetta Neil and Curtis Louis Cardone,[3][better source needed] who were children of Italian immigrants that arrived in the United States in the early 1900s.[3] Cardone and his siblings were raised by their mother after their father died when Cardone was 10-years-old.[2] For ten years Cardone struggled with drug addiction and substance abuse.[4]

Cardone graduated from McNeese State University in Louisiana in 1981 with an accounting degree.[5][6][better source needed] Grant has a twin brother named Gary.[7]

Career

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As of 2024, Cardone had approximately 8 million followers online.[8] According to Josh Gabert-Doyon of The New Republic, by 2023 Cardone had "rose to fame as a cold-calling guru, building a large online following with videos and courses that promised to reveal the secrets of salesmanship" and has appeared on a number of reality TV shows including Turnaround King and Undercover Billionaire.[9]

Cardone operates multiple companies including real estate investment firm Cardone Capital, business management firm Cardone Ventures, event company Grant Cardone Enterprises, and health and wellness company 10X Health.[10] In late 2024, Cardone launched a bitcoin real estate fund.[11]

Cardone Training Technologies

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In 2015 and 2016, several former employees of Cardone Training Technologies filed religious discrimination complaints with the Equal Employment Opportunity Commission alleging they they were fired for refusing to take Scientology training courses disingenuously renamed as "L. Ron Hubbard training".[12]

Cardone's company has sued several clients who could no longer afford the hefty monthly payments on their training contracts. Having no termination clauses, clients were sued for tens of thousands of dollars of remaining balances on their contracts.[13]

Cardone Capital

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Cardone Capital purchases and manages large quantities of multifamily rental properties and sells shares in the pooled investment. Cardone Capital's funds have a buy-in as low as $1,000.[9] In 2024 Cardone Capital claimed to have approximately four billion dollars in assets under management.[14] Using his social media and other communication channels, Cardone tells potential investors that they should view "their own houses as a money-sinking liability rather than a real estate asset", that they should rent, and invest their money in his funds, which he has guaranteed 15% annualized returns. The Securities and Exchange Commission (SEC) has warned him to moderate his sales pitches.[9]

In 2020, a client sued Grant Cardone and Cardone Capital, LLC for violating SEC regulations regarding potential misstatements or omissions. The lawsuit, a putative class action, cited Cardone's own words: "You're gonna walk away with a 15% annualized return. If I'm in that deal for 10 years, you're gonna earn 150%. You can tell the SEC that's what I said it would be. They call me Uncle G and some people call me Nostradamus, because I'm predicting the future, dude; this is what's gonna happen." A Federal District Court in California dismissed the plaintiff's claims, saying that statements on social media were not actionable under the Securities Act, but the US Court of Appeals reversed the dismissal, stating that "sellers of securities that use social media communications to communicate with prospective investors are engaged in solicitation that can be actionable under the Securities Act".[13][15][16] An amended complaint was filed in 2023 by the daughter of the original plaintiff, who had died.[9]

Paul Pelletier, who was the Department of Justice's most senior fraud prosecutor during a 25-year career at the agency, reviewed the documents in the class action case against Cardone. "It looks like his business is built on lies and deception that will likely collapse leaving investors holding an empty bag," he said.

— BuzzFeed News[13]

A 2022 investigative report by The Palm Beach Post showed that from 2018 to 2021 Cardone Capital-owned Miami-area apartment complex Wellington Club overcharged tenants for workforce housing — a government program to provide discounted housing in high-cost-of-living areas to renters employed in key industries such as nursing, teaching and firefighting who would otherwise be priced out of their service area. According to the report, this allowed Wellington Club to boost profits while suppressing the county's workforce housing program in a county with limited affordable housing.[17][18]

Politics

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Cardone has been a consistent supporter of Donald Trump, and even engaged Trump as the headliner at one of Cardone's 10X conferences in 2022.[19]

[edit]

On a 2023 livestream, Cardone got in a heated dispute with his friend John Legere who told him that "You are the biggest bullshit artist on the planet," called him "a con man of the highest order" and a "fucking fraud."[8] In January 2024, Cardone sued Legere for $100 million, alleging defamation.[20] In August, Cardone rejected an offer from Legere to settle out of court.[19]

Personal life

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Cardone married Elena Rosaia Lyons on July 4, 2004. They have two daughters.[21][22] The Cardones reside in Golden Beach, Florida and Malibu, California.[23][24] In 2024, they listed their houses in Malibu, CA and Golden Beach, FL for sale.[25]

Elena fundraised for Keri Lake in 2024 and is active in her husband's businesses.[26] Following the New York business fraud lawsuit against the Trump Organization, Elena set up a GoFundMe to cover President Trump's legal costs.[14]

Cardone is a Scientologist.[8] According to The Village Voice he had reached the OT VIII level as of 2011.[27]

Bibliography

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Books authored by Grant Cardone include the following:

  • If You're Not First, You're Last. Wiley. 2010. ISBN 9780470624357.
  • The 10X Rule. Wiley. 2011. ISBN 9780470627600.
  • Sell or Be Sold (also known as Sell to Survive). Greenleaf Book Group. 2012. ISBN 9780615399249. OL 26106443M.
  • Be Obsessed or Be Average. Portfolio. 2016. ISBN 9781101981054.

References

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  1. ^ Basotia, Jyotsna (January 20, 2021). "What is Grant Cardone's net worth? Meet the 'Undercover Billionaire' entrepreneur who was a drug addict at 25". Media Entertainment Arts WorldWide (MEAWW).
  2. ^ a b Cardone, Grant (March 29, 2022). "The #1 Way I Start EVERY Day". gctv.com. Archived from the original on April 3, 2022. For those of you who don't know, I was born in Lake Charles, Louisiana. My widowed mother raised me and my siblings on the small life insurance settlement my father had left behind. I didn't make things easier for myself by getting in with the wrong crowd.
  3. ^ a b Fernandes, Aurelia (February 10, 2021). "Who are Grant Cardone's parents? 'Undercover Billionaire' star talks about his parents, death and drug abuse". Media Entertainment Arts WorldWide (MEAWW).
  4. ^ Cardone, Grant (February 24, 2022). "From Drug Addict to Billionaire: My Story". Medium.
  5. ^ "McNeese Alumni Association – Distinguished Alumni Receive Prestigious Award". mcneesealumni.com.[dead link]
  6. ^ Cardone, Grant (March 31, 2016). "College is Good for Getting a Job but Not Necessarily for Getting Rich". Entrepreneur.
  7. ^ Plummer, Kate (August 22, 2024). "Donald Trump Donor Sued for Fraud". Newsweek. Retrieved February 21, 2025.
  8. ^ a b c Caputo, Liv (May 14, 2024). "'Bullsh-t Artist and Fraud': Ex T-Mobile CEO Loses Motion to Dismiss Defamation Case With Trump-Aligned Business Man". The Floridian. Retrieved February 21, 2025.
  9. ^ a b c d Gabert-Doyon, Josh (August 29, 2023). "The Real Estate Hustle-Culture Con That's Exploiting Investors and Wrecking the Housing Market". The New Republic. Retrieved February 21, 2025.
  10. ^ Davis, Ron (December 1, 2022). "South Florida multifamily investor buys Scottsdale office building where it plans its second HQ". Phoenix Business Journal.
  11. ^ Taylor, Julie (December 21, 2024). "Property Mogul Grant Cardone Launches 'First Ever' Bitcoin Real Estate Fund on Florida's Space Coast". Realtor.com. Retrieved February 21, 2025.
  12. ^ Ortega, Tony (August 12, 2016). "Former workers file EEOC complaints saying Grant Cardone forced Scientology on them". The Underground Bunker.
  13. ^ a b c Warren, Tom (July 20, 2023). "Financial Influencer Grant Cardone Says He Can Make You A Billionaire. His Investors Claim He Defrauded Them". HuffPost.
  14. ^ a b Fung, Gloria (March 8, 2024). "Meet the millionaires who started a GoFundMe for Donald Trump: Elena and Grant Cardone are raising funds to pay the former president's fine – while Grant 'goes broke' twice a year to pay less tax". South China Morning Post. Retrieved February 21, 2025.
  15. ^ Bandell, Brian (December 23, 2022). "Court revives lawsuit against 10X wealth guru Grant Cardone". South Florida Business Journal.
  16. ^ Alvarado, Francisco (December 28, 2022). "Grant Cardone is back on the hook in a class action suit". The Real Deal.
  17. ^ Hinsche, Kate (December 13, 2022). "Cardone's Lake Worth workforce housing complex found overcharging tenants". The Real Deal. Archived from the original on December 22, 2022.
  18. ^ Marra, Andrew (December 12, 2022). "Tenants in county's largest workforce housing site overcharged by hundreds for years". The Palm Beach Post.
  19. ^ a b Lowell, Hugo (August 25, 2024). "Former T-Mobile CEO to be deposed in $100m defamation suit from Trump ally". The Guardian. Retrieved February 21, 2025.
  20. ^ Lowell, Hugo. "Former T-Mobile chief denied bid to dismiss $100m defamation suit from Trump ally". The Guardian. Retrieved February 21, 2025.
  21. ^ Singh, Ritika (November 19, 2024). "Who is Grant Cardone's Wife? Elena Lyons' Kids & Relationship History". Y! Entertainment.
  22. ^ "About". elenacardone.com.
  23. ^ Bandell, Brian (June 4, 2021). "Fashion icon Tommy Hilfiger sells Golden Beach mansion for $24M (Photos)". South Florida Business Journal. Archived from the original on June 16, 2023.
  24. ^
  25. ^ Zap, Claudine (May 2, 2024). "Real Estate Investor Grant Cardone Selling Luxe Mansions on Both Coasts". Realtor.com. Retrieved February 23, 2025.
  26. ^ Skalka, Liz (February 8, 2024). "The Wife of a Controversial Influence Is Hosting a Fundraiser for Keri Lake". HuffPost. Retrieved February 21, 2025.
  27. ^


Category:1958 births Category:Living people Category:American businesspeople in real estate Category:Businesspeople from Louisiana Category:American people of Italian descent Category:Real estate and property developers Category:People from Lake Charles, Louisiana Category:American Scientologists

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