What It’s Like to Lose 95% of Your Net Worth Overnight

MoneyWise

Imagine waking up one day to find nearly everything you've worked for is gone.

Today’s guest, Domenic, lived through that nightmare.

His story begins at Facebook, where he was one of the early employees during the dawn of the social media era. He wisely took as much equity as possible, which paid off handsomely when the company went public. Despite his newfound wealth, a series of unfortunate decisions—risky investments, a poorly negotiated acquisition, and unforeseen personal losses—led him to lose nearly everything he had earned.

Domenic’s tale is not just about loss but about resilience. From growing up in a modest household in Southern Virginia to navigating the high-stakes world of Silicon Valley, he shares his experiences of building wealth, facing devastating setbacks, and the philosophy that keeps him moving forward.

This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits.

Who is Sam Parr?

Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022.

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Early Facebook Employee (0:29)

The Facebook IPO and Domenic’s Net Worth Impact (12:53)

Life After Facebook: Investments and Mistakes (17:29)

Losing It All in a Bad Acquisition Deal (24:46)

Rebuilding from Scratch (31:55)

Final Thoughts and Takeaways (38:50)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.