---
title: 'How Billionaires Actually Work | Authorized Account | Insider'
source: 'https://youtube.com/watch?v=omE3wmi0uJQ'
video_id: 'omE3wmi0uJQ'
date: 2026-08-05
duration_sec: 2479
---

# How Billionaires Actually Work | Authorized Account | Insider

> Source: [How Billionaires Actually Work | Authorized Account | Insider](https://youtube.com/watch?v=omE3wmi0uJQ)

## Summary

John Morgan, founder of Morgan & Morgan, shares his journey from a struggling lawyer to a billionaire, discussing his business philosophy, personal life, and the principles that guided his success. He emphasizes the importance of growth, delegation, and empathy, while also addressing his advocacy for minimum wage and medical marijuana.

### Key Points

- **Introduction and Background** [00:00] — John Morgan introduces himself as a billionaire and founder of the largest personal injury law firm in America, with 7,000 employees and 1,400 lawyers.
- **Lifestyle and Wealth** [00:35] — Morgan describes his lifestyle, noting that aside from a private jet and multiple homes, he lives modestly. He spends about $2 million a year, mostly on insurance and home upkeep.
- **Early Career and Advertising** [04:50] — He sold yellow pages before law school, making $70,000, then started his own firm in 1985. He capitalized on the Bates vs. Arizona ruling that allowed lawyer advertising, despite initial embarrassment.
- **Growth Strategy** [08:17] — Morgan expanded by reinvesting profits into new markets, buying out partners, and moving to new cities when hitting diminishing returns. He emphasizes 'Grow or die' as a guiding principle.
- **Entrepreneurial Ventures** [11:17] — Beyond law, he built WonderWorks, an interactive science center, and other attractions like Alcatraz East. He also owned hotels and a theme park, learning from failures like the parking issue.
- **Union Ties and Work Ethic** [14:39] — Morgan's union membership brought him business from working-class clients. He values showing up and staying hungry, even after late nights.
- **Mindset and Leadership** [16:40] — He describes himself as a catastrophic thinker and suffers from impostor syndrome, which keeps him paranoid and driven. He delegates ruthlessly to gain time for strategic work.
- **Personal History and Motivation** [21:38] — His brother Tim's paralysis in a diving accident inspired him to become a personal injury lawyer. He felt powerless and vowed to fight for others like Tim.
- **Advocacy and Giving Back** [26:12] — Morgan used his wealth to raise Florida's minimum wage to $15 and legalize medical marijuana, both successful ballot initiatives. He supports free clinics and a homeless pavilion.
- **David vs. Goliath** [28:42] — He sees himself as David fighting corporate Goliaths like Disney, tobacco, and opioid manufacturers. He has secured multi-billion-dollar settlements for victims.
- **Family and Legacy** [33:45] — His children work in the family business, and he emphasizes teaching them the value of money. He plans to leave his wealth in a family trust.

### Conclusion

John Morgan's story illustrates that success comes from relentless growth, strategic delegation, and empathy for the underdog. His life's work is a blend of business acumen and advocacy for the powerless.

## Transcript

My name is John Morgan. Forbes recently named  me a billionaire after I started the largest   personal injury law firm in America. This  is everything I'm authorized to tell you.   I don't like to say I'm a billionaire. When I  started out as a lawyer, I was driving around  
in a Nissan Maxima with a sunroof and the leather  package and I felt like here I am today. You know,   I have 7,000 people at Morgan and Morgan,  1,400 lawyers. Nobody's gonna outwork me.
My life is really not a billionaire's life.  The only thing that makes it a billionaire's   life is the way I travel and I have a G5. That's  the ultimate luxury. Other than that, and I do  
have houses, but they're not the houses you would  think. You know, my house in Hawaii is very nice,   but it's not I don't think it's a billionaire's  house. The house I live in here, you know,   it's big. It's nice, but I bought it built it  a long time ago. I built a bunch of houses for  
me and all my children in Ponlet, which is 40  minutes from here on the beach. I have a house   in New Hampshire. And I started going to Maui  and I'm like, you know, this is unbelievable.  
It's like if there if if heaven was a place,  it'd be Maui. It's like the air was just born.   Everything's brighter. It's everything's vibrant.  There's whales coming out of the water. It's like  
you're like in Jurassic Park in your backyard.  My wife and I were driving around looking at   houses and there was a house under construction.  We pulled up and we looked at it and I said,   it wasn't expensive in it was 6 million bucks you  know beautiful you know 6,000 square foot 5 acres  
listen I get high every single night in Maui  I float to sleep so if you're out there fellas   guys everybody come see me'll smoke a joint and  drink some rosé you know I grew up in Kentucky  
and I like simpler food. For example, you know,  I'm just I'd be just as happy with, you know,   to dinner for tonight if you know if I had cube  steak smothered in onions and fried potatoes and  
cabbage. I'm like, I'm you want filet minan? No,  I I'll I'll do this. I I'll choose this. So, I get   to eat cheap, too, because that stuff doesn't  cost that much. So, that's lucky. My clothes,  
I look I walk out my closet, I'm like, "Will I  ever buy another shirt? Will I ever buy another   pair of shorts? Maybe just on vacation." Like,  well, that looks but not really. There's nothing  
really that I want. And uh that's a good thing.  Here's my week. This Friday, I'm going to go to   Keeland to Lexington where I grew up. I I now  own raceh horses, so I'm going to see my raceh  
horses run. The following week, I'm going to go  cut a commercial with John Daly in Arkansas and   then I'm going to fly to Delmare to see one of my  horses run in the Breeders Cup and then I'm going   to have some fun in California. Then I'm going  to come back. I don't own the whole horse. I own  
like 25% or 50%. I do a deal with these guys who  own American Pharaoh and Justify. So I bre I breed   my mayors to Pharaoh. So I get a Pharaoh cult or  Philly every year. I haven't lost that much money,  
but I'm from Lexington, Kentucky. And you know,  can you imagine growing up poor in a city and then   coming back and owning raceh horses in that city?  So, I got a lot of nice things, but it's not like,  
you know, the houses are already paid off. There's  there's not really money going out now. I spend   about $2 million a year living and most of it is  insurance and upkeep of my homes. And, you know,  
I these dogs that travel with me, you know, I  never leave without the dogs to live exactly   what I'm living now. If I had 50 million, 4%,  two million tax-free and not not not the jet,  
then I'm okay. I have always told my children  to say we're comfortable. That they used to ask   them my my kids would come and say, people are  asking us if we're rich. What what I said, you   just tell them we're comfortable. And that's all  they need to say because they were comfortable.  
And look, if you have a hundred million or a  billion, you're basically living the same life. Before I went to law school, I sold yellow pages  for 18 months and I made a load of money. I was I  
was one of the greatest, if not the greatest,  yellow page seller in the history of AT&T. I   could just sell it because I believed in it.  you know, the yellow pages with Google back   then. And so I made money, was able to go back  to law school. When I graduated from law school,  
all I applied was to personal injury firms  because I knew what I wanted to do. You know,   I'd made like almost $70,000 selling yellow  pages. My first job doing personal injury, I had a   $10,000 base and a 10% of whatever I would close.  And I think my first year I made like $15,000.  
1982. And then the next year I made 32,000 and  the next year I left and started my own firm.   I started my own firm in ' 85. Advertising was  just starting with lawyers. There was a Supreme  
Court case called Bates versus Arizona 1977 that  allowed lawyers to advertise. Up until that time,   lawyers could not advertise even though we had a  first amendment. Bates versus Arizona said, "Look,  
the first amendment applies to this commercial  speech." Sometimes you can just see the future   and I saw it. So it was still very verbaten to  advertise as a lawyer. You're like, "My god,  
you're a lawyer and you're advertising.  That's so beneath you." It kind of was.   I was embarrassed about it cuz the people who  were advertising were the people who were kind   of and the people who weren't advertising were  the good lawyers. I went and borrowed $100,000
remember the flipping the coin. And so is it going  to work or is it I don't know. I've thought many   times, what happened if that $100,000 had not  turned into some cases? What would have happened  
to me? I don't know. That was just a left turn  that worked out. I was so embarrassed that I had   a friend of mine who's one of my best friends.  He owns a bunch of Cadillac dealerships now in  
Sarasota, Manatee. and uh he was real good-looking  and I said, "You know, I'm not good-looking." So,   I said, "You know what? I had Vance do my first  commercials." But then what happened is the  
Florida Bar mandated that if you were advertising,  you couldn't have someone else. You had to do it.   And then reluctantly I had to take, you know,  my fat face, which I, you know, I've always  
felt like my face is fat and I couldn't use Vance  anymore. So then I had to be the face. And when I   look at those ads now, I'm like, who the was  calling this kid with advertising, you know,  
it was just a total paradigm shift. I mean,  now I'm talking to everybody. They weren't   great cases, but they the phone was ringing.  If I started today, I wouldn't be John Morgan.   I had it all to myself. I didn't have competition.  Today, you know, I have 7,000 people at Morgan  
and Morgan, 1,400 lawyers. I'm in all 50 states.  We have 100 to 200 trials on the docket a week.
What I kept doing because I was young, and  this is what a lot of people make a mistake,   is I kept feeding expansion out of my profits.  I didn't want a boat. I didn't want a plane. I  
didn't I just wanted to grow. I was in Orlando and  I was doing well and but then I started thinking,   well, am I hitting diminishing returns? In other  words, could I get more money if I took this money  
and went to Tampa? And so I went to Tampa. I  used to call it the teacups. When the teacups   seem to be pouring over, when I when I seem  to be thinking I was at diminishing returns,  
I go to another city, another city, another  city. That's why I bought my partners out.   They wanted to keep the money. And I said,  "Why don't I just buy you all out?" They go,   "Okay." I got a call one day and my receptionist  says, "Johnny Cochran's on the phone." So,  
I pick up the phone. Hey, John. What is Johnny  Cochran? This is Johnny Cochran calling you from   Los Angeles, California. Hey, man. How you doing?  I'm like, who the is punking me right now? I mean,  
it this can't be Johnny Cochran. And he was  telling me that he was going to start his own   firm and that he had heard that I was a marketing  genius and would I be interested in helping him  
with the Cochran firm. And I I was so convinced  it wasn't really Johnny Cochran. I said, "Well,"   I said, "Give me a number. I'll call you back."  Okay, man. Listen, I'm getting ready to go to I'm   getting ready to go to New York. I have a I have  a a condo at the right above the Russian TA room  
and I'm like, "Oh, this he just call me." So, he  gives me the number. So, when I hung up from him,   uh when I hung up from Johnny, I called the number  in New York City and I the answering machine. I'll  
never forget it. It's his voice and it's the  greatest answering machine of all time. Voice   message. Hi, you have the right to remain silent.  Anything you say can and will be used against you  
in a court of law. If you decide to give up that  right, leave your name and number at the sound of   the tone. I'm like, it's Johnny Cochran. I I threw  in with him, which kind of exposed me to doing  
things nationally. We were in Memphis and DC and  LA and New York. And so when I got with Cochran,   I I was outside of my comfort zone. And uh we  had a lot of fun. We grew the business. I have  
two things will go on my tombstone. One of one  or the other. Grow or die or nothing is about   today. Everything's about tomorrow. Those are  the two guiding principles of my business life.  
Grow or die is very important to me. Uh and  uh so I just kept growing so I wouldn't die.
There are certain people that are born with an  entrepreneurial seed. I'm an entrepreneur. It's   not I don't just do law. I have attractions and  hotels and shopping centers and uh those types of  
things. But I'm always looking for opportunity.  A lot of people see these things go, you know,   why bother? Well, if you say why bother and don't  bother, you end up sitting at your desk eating a  
peanut butter and jelly sandwich by yourself.  Being a paper boy, being a paper girl is the   ultimate enterprise cuz you're little, you're  small, but you got to be up every day, 7 days  
a week, 365 days a year, you got to go deliver  those papers in the snow and the sle and the rain   and the heat, whatever. When my kids were little,  I used to go to the science center. I was like,   "This is These science centers are the kids didn't  like them. Nobody liked them. I go, you know,  
here's what's missing in science centers. They  should be interactive. Touch and feel and doing   it. That's what I'll do. I'm going to build a an  attraction. I'm going to build a science center,  
but I'm going to turn it upside down called  Wonderworks. That was 1997. And today I have six   of them and an EBID of 33 million with no debt.  I built a a small little theme park on ID Drive  
out here called Magical Midway and it was had  multi-level go-kart tracks and rides and stuff.   But my mistake was I didn't have enough parking.  I thought because I was so close to all the hotels  
that I didn't need parking. Thank God that I had  one ride that basically carried the whole thing.   thrill ride and I was able to sell the park and  lose a million bucks. That didn't work. At one  
time, I owned a lot of Marriott hotels. Why did  I keep building Marriott hotels? Money. To make   money. And uh I have these attractions. Why do  I have them all over the country? To make money.  
And I enjoy business. I don't hunt. So, I never  understood hunting. I really don't understand   fishing. That's where most people off and  they call it recreation. To me, it's total  
boredom. I hunt money. Nobody's ever built an  attraction for crime of punishment really. So,   I built an attraction that I call Alcatraz East  in Pigeon Forge. It's looks like a 1980s prison  
and I have all this memorabilia. It's a history  of crime and punishment. When you get to the end,   the grand finale is the, you know, Ted Bundy's  VW, John Dillinger's sedan, Bonnie and Clyde death  
car from the movie, OJ's Bronco, John Bernay's  bicycle, and I just recently got the Murdoch golf   cart from the murders. It takes people three and a  half, four hours to go through this thing, and it  
prints money. I'm giving America what they want.  And by the way, if you're offended, stay the out.
Before I was out hustling business, I would  look when I worked for the phone company,   I was a member of the union. I was so I joined I  thought I might go into politics, so I joined CWA,  
AFL, CIO. When I got out, I spent a lot of time  at in union halls at meetings and then we go out   drinking, throwing darts, shooting pool, and these  union people were sending me their business. So,  
I was getting tons of business because I'm a  union guy. I'm I'm AFL CIO. And so, plumbers,   pipe fitters, brick layers, uh hotel motel, and  these are the people I'd rather be with. I I I to  
this day I don't like walking in a country club.  I feel like I don't belong. But I do belong in   a pool room with a cocktail. Are you any good in  pool? No. But I'm good at the cocktails. If I went  
out back in the day, if I went out and got drunk  and went to bed at 4:00, but had a six o'clock   breakfast, I was at the six o'clock breakfast.  I might have been wreaking of uh ketosis, but  
uh I was at the breakfast. I show up. And so, you  know, it keeps you hungry. I consider myself a a   catastrophic thinker. I feel like I this could all  disappear in a minute and and it's it's still with  
me. It's these I've had dreams where I've lost  everything and it's a recurring dream. I'm I'm   out in an old car and I'm out of money and I'm  almost out of money but I'm not out of money and  
I don't know how I'm gonna make it and I'm just,  you know, just out there and then I wake up and   it was a dream and uh you're happy to wake up  because you're back here instead of back there.  
Every morning I wake up and get numbers. I get  numbers from my attendance and at my attractions.   I get numbers from new cases signed up the day  before. I get all sorts of leaderboard reports.  
There's two emotions. The emotion of winning  and the emotion of losing. The emotion of   winning is powerful, but the motion the emotion  of losing is like this. To give you an example,  
if you walk out of this room and you find $1,000  in an envelope, you're going to be like, "Wow,   that's an emotion. Nobody's okay. It's mine."  But if you go to your hotel room when you get   back and the safe is open and the thousand's  missing, you're going to turn this city upside  
down. You're going to be the cops are coming.  I mean, your day is the emotion of losing,   the emotion of winning. The the power of of both  is totally different. So when I lost, I you know,  
I I was very upset. Some people are born lazy.  And we we get mad at him. But it's not their   fault. You I say it all the time. You know,  a lion is born, he's king. A sloth is born,  
he's all he was all he did was be born. Just  can't get out of bed. Can't get out of the   tree. Comes down the tree once a day just to  go back up. Collapse. I'm a lion. And listen,  
everybody wants to be a lion until it's time to  do lion. and lying is taking down the gazelle, ripping the carcass open, taking the meat  out, face bloody, take the food back to  
the pride. I'm also uh someone who has what  they call impostor syndrome. In other words,   I don't know how this happened, and I'm going  to be found out one day. They're going to find  
out that I really didn't know what the f I  was doing, but I'm still pretending like I'm   doing it. It's weird. Uh, but it's also good  because when I found catastrophic thinking and  
uh imposttor syndrome, it made sense that I was  an only the paranoid survive guy. I believe luck   has had an incredible amount to do with what  happened to me. Life is a thousand left turns,  
a thousand right turns, a thousand U-turns. And a  lot of times those turns come when you're just at   the stoplight and you flip a coin. It's  not like you knew where you were going.   You just went right instead of left. But one  different turn could have changed everything.
And I'm not arrogant enough to not understand  how many times I flipped a coin to go left or go   right and ended up here. So I think it's helpful  because I think when people start making money,  
they think they're not a lot smarter than they  actually are. And that arrogance is how they   lose. But I also understand this that you don't  find luck unless you're looking for luck. My  
leadership style is this. I understand that you  can't buy time. But you need time. So how do you   get time? If you can't buy it, how do you get it?  You get it by finding people in your organization  
that e that emerge that just emerge and you  go there's something about that guy. There's   something about that guy. There's something  they are send people. There are people that  
I send something to and I delete it and I don't  think about it again because I know it's going   to be done. And then I test it by delegating  a little bit more and a little bit more and a  
little bit more. I then ruthlessly ruthlessly  delegate. This is your job. This is your job.   This is your job. This is your job. And I know  it's done because they're send elite people.  
And you know what? That has given me time. time to  do the strategic things that I want to do for the   law firm. Once you learn to scale and delegate,  then you get what you can't buy, which is time.
My childhood was it was good until it wasn't  good. Both of my parents ended up having bad   drinking problems and I was the oldest of five  and my dad lost, you know, every job possible.  
Was one of these, you know, you come home, his  cars in the park in the driveway, you're like,   here we go again. I didn't have a bad childhood,  had a great childhood. I had a huge paper out so   I always had my own money. And then ultimately my  dad uh ran out of opportunities and had to take a  
job. We moved when I was 14. And then when we  moved that's when I understood that we were   financially insecure and because the house we'd  been in was a house that my grandmother had died  
and left us money to move in. So was nice and now  you're in Florida. But it was it's it was real.   It's like, okay, we're not we're not financially  secure. And then it went downhill from there. The  
our mother finally left. My dad kept drinking, but  we just kept we kept moving on. But the great gift   that my dad gave us was every time he would get  fired, I'd walk in, he'd be sitting at the table,  
stocking feet, one ads. This is when there  were one ads. And uh he would say these words,   "Whatever you do, be a professional. Nobody can  fire you." And it was seared in my mind that I was  
going to be I was going to do something where  nobody could fire me. I wasn't going to be in   his position. The big part of my life was when  my brother Tim was 18. and he was paralyzed in   a diving accident as a lifeguard at Walt Disney  World. And that injury is what changed all of our  
lives and what made me go into personal injury.  I didn't know what a personal injury lawyer was   until Tim got hurt. But I was a sophomore at  the University of Florida. My dad called me  
up. He said, "U Tim's been in a diving accident,  lifeguard. He's paralyzed. He can't move anything   from the from his head down. We were poor. So when  you're poor in the medical when you're poor, it's  
a bad place to be. Whether you're trying to get  medical help or legal help. So you're vulnerable   to be powerless, hopeless, helpless. It's the  worst feelings in the world. Then you walk   into the hospital and your brother's on a gurnie  spinning 360 and you look at him and you're like,  
"How the are we going to get out of this?" He  was injured on the job. It was a contentious deal   with Disney. Disney was the the became the enemy  because they were the ones trying to to to fight  
Tim for his benefits or claim or whatever. and  he hurt himself trying to rescue they thought a   little girl had drowned in the Polynesian lagoon  and they treated him like the Taliban and they  
just litigated and I became enraged enraged and  I said to myself I said everybody then I'm going   to come back one day and I know what I'm going to  do now and it was just very crystal clear Disney  
was a big enemy. Disney was a big enemy just  because the way they treated him, you know, and   uh and then I saw, you know, there's so many  Tims out there cuz most of us are helpless,  
hopeless, and powerless. You know, when I met  with the doctor when Tim was being discharged,   I said, "Uh, what's the prognosis?"  And he said, "If he lives to 30,   I'll be surprised." And I said, "Wrong."  From that day forward to this day today,  
my life has been inextricably linked to  Tim's injury. He passed away last summer,
65, and he worked with me every day.
The good thing about all the bad that  happened to me is it made me more empathetic,   more compassionate, and I think more caring.  And I think that that has been a benefit to  
me and my business. There's so many Tims  out there because most of us are helpless,   hopeless, and powerless. You know, 40% of us  don't have $400 in a bank. 60% of us do live   paycheck to paycheck. You know, when when I  made all this money, that's why years ago I  
spent my money to raise the minimum wage  in Florida to $15 an hour. Then I passed   the minimum wage. They all told me that wouldn't  happen. I passed that with 60some% of the vote.   Income inequality is what will take this  country down. At the end of the day,  
I don't care what civilization you're talking  about. At the end of the day, people finally have   enough and they just come and take it. The minimum  wage, the federal minimum wage is $8 an hour.
It's in our best interest to pay people more so  they don't come and take it. So even the $15 an   hour that I've done in Florida, still not enough,  spent the same amount of money twice to legalize  
medical marijuana in Florida because that's what  gave Tim relief. It was just so crazy that here's   this plant that's put into earth by God for us and  it works and we're going to say you can't have it.  
I took some of my money and tried to do good with  it based on, you know, my life experiences and   temps and me and Tim barnstorn the state and u  passed. They told me that would never pass and I  
passed medical marijuana the second time with with  73% of the vote. I' I've got some free clinics   that I support around the state of Florida. I'm  building right now uh a women and children's  
pavilion for the homeless in Orlando. They need  health care, too. Uh healthc care should be a   civil right. Just because you're rich doesn't mean  you should be the one that lives and the ones that  
are poor have to die. Every day I'm David versus  a Goliath. I'm Goliath in my space, but I'm not   Goliath compared to who I fight against. Remember,  I I'm in the opioid litigation for 10 years now.  
I've represented states and cities. I'm on the big  team in Cleveland. I was on the BP oil team when   the spill happened in the Gulf. I represented  the fires in Hawaii. I settled that case for $4  
billion. I where I live is Lahina. That's where  the fire burned every those are my neighbors. I   represented black farmers and I recovered $1.2 $2  billion for black farmers who were discriminated  
against in the 50s and 60s. You know, last week my  son got a, you know, $11 million verdict against   Target. They'd offered us $200,000. Target's a  Goliath. I see myself as a David because I do have  
finite funds. I can only, you know, I can only  spend so I can only spend so much on these cases.   Like, you know, a big case can cost, you know,  millions of dollars just in cost. And I don't get  
paid till the end. I have never I still haven't  got paid on opioids in a lot of these cases. I'   I've sued tobaca so many times for what they've  done to us that you know this tobacco industry  
is in the business of premeditated murder.  Premeditated murder. They call new smokers   replacement smokers. They know what they were  doing. They laced their cigarettes with additives  
to hook us as kids. They gave cigarettes away to  children. They gave cigarettes away to servicemen   because they knew they would hook us. They come up  with a filter. Oh, we got a filter that's going to  
that's going to solve all your problems. Look at  this brown stuff. See, it's the tar and nicotine.   You're like, "Oh, good." No, that's not stopping  anything. It's what they do. They spray a chemical   on the cotton that when it gets hot, it turns  brown. And you think it's it's But they're in the  
business of killing people. That's their business.  They know everybody's that all these people are   going to die from lung cancer. And so, but they  have so much money. And when I try the case  
against tobacco industry, they take me all the way  to the United States Supreme Court. When they come   to try a case against us, they come, they take  a whole down. When they bring their witnesses,  
like a it's like a novel. and they have unlimited  money because of public company and and that's why   I'm David and that's why they're Goliath. A lot  of these cases take years and years and years. So,  
in a sense, I am David because they have unlimited  money and the insurance companies can get more.   They just and just raise your rates and fill  their coffers back. I can't do that. I have to  
win every single day. I got to keep winning every  single day. It seems like that's the new thing.   It seems like everybody's a billionaire. If you  know what you're worth, you're not worth. And it's  
true. Eat the rich. Eat the rich. I would say I  understand where you're coming from. I understand   it because I've been it. I've been you. I've been  in places where I didn't know how I was going to  
get out of it. I didn't know how I was going to  make it. I've been up against the wall and it's   it's a terrible feeling. You know what I talked  about earlier, the hopeless, helpless, powerless.  
It's like, you know, where do I go? I would tell  them to keep peacefully demonstrating. You know,   the no kings thing they had. I didn't see that  coming that there's all that many people that are  
upset. I didn't think anybody was that upset. But  I also understand that there's a limit. You know,   I'm not a I'm not a democratic socialist because  I don't believe socialism works. I believe what  
works would be compassionate capitalism where we  try to do the most for the most with the least. We   kind of just take care of them. The arguments that  pissed me off were the people say, "I don't want  
to pay a dollar more for a hamburger." I'm like,  "You selfish. Why? Why?" And then they would say,  
"Well, if you raise the prices, then the wages  are going you're going to need more because the   prices if you raise if you raise wages, you're and  you then prices are going to have to be raised and   you're it's going to be an endless battle, an  endless circle of people suffering and which  
I don't buy. I think at a certain point people  make enough money that they can have happiness.
My three children are lawyers work for me. My son  Matt is unbelievable. My daughter has a structured   settlement company called Monarch that structures  settlements. And uh my son-in-law works there.  
And why is because I love them and I want to be  with them. And that's why I built all the houses   together at the beach. That's what moves me is  my family and being with them. I don't I would  
not understand life without them. And now I got  all these grandchildren. We always used to go to   see movies on Christmas Day. And we went to see  this movie called My Big Fat Greek Wedding. And  
at the end of the movie, they were all living on  the same street, the families were. And then the   lights go up and my my daughter go, "Oh my god,  look, daddy's crying. Look at look at everybody.   Daddy's crying in the movie." I'm like, "Shut the  but I was like, you know, that'd be a great thing  
for all of us to live on the same street." What  I never did is like these rich people buy their   kids great cars. I never did. You know, I gave  them like a eight-year-old navigator and they had  
to work and they had to pay for their insurance.  Now, look, they live my lifestyle. So, you know,   if I'm at the Four Seasons, they're at the Four  Seasons. So, there's a, you know, how do you   do it? But first of all, you got to spend a lot  of time talking to them about what's important.  
One time it was Christmas time and I said to the  the boys, I said, one was 17, one was 15. I said,   "Have you all got your schedule for Wonderworks  for this Christmas break?" And Mike goes, "Nobody  
from Bishop Moore is working over Christmas." I  go, "That's" And Matt goes, "No, nobody's working.   Nobody's working." I said, "I know that's not  true." "No, it's true, Daddy." I go, "Here's why  
it's not true. You two are working. You two mfers  are working and you're going to work 40 hours."   But here's the good news. Because I own it, you  can work from 8 to 5, 12 to 9, 5 to 2, but you're  
working. You don't have to work on Christmas  Day cuz I own it. If I didn't own it, you might   have to work on Christmas Day. But there will be  people from Bishop Moore working this Christmas.   Mike Morgan and Matt Morgan. And you know, I  had to fire Dan once. He was just a screw off at  
Wonderworks and they thought he was the father's  son. And I said, "Hey, man, you're fired." And I   said, "You're not going out until you get a new  job now. You got to go get a new job." Well, I I   said, "Dan." So, he gets a job at Boston Market,  you know, cooking chickens or something. He comes  
in like a week later, he quit Boston Market.  I said, "Why'd you quit?" "They had me washing   dishes. It made me vomit." I said, "Really?" I  said, "I thought you were supposed to be cooking   chicken." "No, they had me in the They had me  dishwashing." I said, "Think about that, Dan. They  
got you doing the worst job in the place. That's  what they think of you. And now you've quit." But   here's another thing, Dan. You're never going out  of this house except to school and to look for a   job. And then he got a job at Firehouse Sub and  he excelled at Firehouse Sub. It's interesting  
because I I was always very envious and and kind  of like pissed off that people had money just   born. You're like that doesn't seem fair. And  nepotism I've never liked. And now my children  
are the people that used to bother me. They're  the spoiled people with the silver spoon stuck   up their ass. And you know, you just keep hoping.  And you know, you know, I I had a thing with Matt  
the other day. He's like, I said, "Are you coming  to Hawaii?" "No, we're going to the Breakers after   Christmas." I'm like, "What are you doing at the  Breakers?" Just walking around being rich. That  
kind of turned me off that he's just going to  go down to the Breakers in Palm Beach. I said,   "But my children have become the very people that  I used to look at and go, that's not fair." So,  
what I've done with that is I just hope and pray  that they and I think they have. I think they have   heard me loud and clear. And what I have told  them is this thing, the money belongs to God.
Don't think this is your money. This luck that's  come our way. I don't know why. And I I think   they've heard it. I hope they've heard it. They  certainly they certainly talk like they have.  
So I you know I won't know until I'm dead and  looking down to see if they're really doing it. If you have a hundred million or a billion,  you're basically living the same life. I don't  
like change. I got the same wife. I got the same  kids. I got the same friends. All of my money is   going to go into a trust, Morgan family trust. My  daughter is going to run it. And then what I hope  
to do is to say say this is a trust. What I hope  to do is to have other silos where my children   can put their money inside silos. So I'll have my  silo and then their four silos and that we could  
have money going out for the things that that  that we think are important. I'm not I'm not up   for I'm not up for trying to start something from  scratch. I'm up for, hey, there's a food bank to  
be built in Appalachia and then I build it and  then I'm done. Other than, you know, donations   I give. I mean, I still give money to the Morgan  Morgan Hunger Relief Center, especially now. Look,   this new administration, we we're we're losing  funding for food at the at Morgan Morgan Hunger  
Relief Center. So, I've stepped up my giving  there. I'm 69 years old. I have had more fun   and seen more people and I've met popes. I met  all the presidents. They've all been in my house.  
I've raised hell. My best time has been in union  halls and drinking beer and drinking whiskey and   throwing darts. And my children's childhood was  unbelievable. And my high school was unbelievable   and my college was unbelievable. Sadly to say,  my best days are probably behind me if I'm being  
honest. But I I I got good days ahead of me now  because I got these six grandchildren which has   which has transformed my life because I'm getting  to do it again and I'm getting to enjoy this  
innocence and this love when your grandchildren  are running to you. There's no love like that. So   I got that to look forward to. Hi, I'm a producer  on Authorized Count. If you like this video,  
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