Togi Is Worth -$10,000,000 | Financial Audit

The guest, Togei, a 23-year-old YouTuber and streamer from Austin, Texas, is undergoing a financial audit. He admits to going into the audit blind, having never previously reviewed his finances or watched any of his own videos. He states that YouTube, streaming, and Snapchat are his primary sources of income. He mentions that Snapchat's income has decreased recently. Togei claims his businesses, which he refers to as "we," generated $1.9 million per quarter over the last five quarters. He has a team of about 30 "clippers" who are paid well, some earning up to $20,000 a month. In terms of intimate employees, he has a manager, a manager's assistant, and a partner's assistant, totaling around seven or eight people. He estimates his monthly employee costs to be approximately $250,000. He clarifies that $120,000 of this goes to clippers. He emphasizes that his decisions are often based on "vibes" rather than strict financial quantification. For example, he justified having a large office for "the vibes" and for recruiting good talent. He also gifted his assistant's assistant, Edward, a $10,000 Rolex because he values loyalty and connections, even if it goes "over budget." Edward, who recently started working for him, earns $1,000 a month and lives and eats for free, which raises concerns about potential illegal wages. Togei admits Edward's pay was cut from $3,500 due to "half-assed" work and a lack of urgency, a decision Togei oversaw. He claims he would ensure Edward makes $42,000 by the end of the year if he performs. Togei reveals he lost a house in Miami through a literal coin flip with another YouTuber, Steve Will Do It, who put up $2 million. Togei's house was appraised at $1.9 million, with $600,000-$700,000 down payment. He also owns another house in Austin, which he bought without ever visiting and was chosen for its affordability and space, not its location. He acknowledges the difficulty of adulting, citing his lack of awareness about utility payments for his Miami property, which led to mold issues. He discusses his approach to finances, stating he invests in himself as a person and is confident he can always "cook up another scheme" to make money, even if social media fails. He admits to attempting to "rug-pull" people with meme coins in college, losing $20,000 in the process due to his incompetence at scamming. He views gambling as an "experience" that has led to his best memories and friendships, despite the risks. He highlights that after losing his house in the coin flip, Steve Will Do It gifted him a $700,000 Lamborghini as a gesture of friendship. Togei explains that a significant portion of his income comes from deals where he receives cryptocurrency to gamble, which fluctuates between wins and losses. He mentions buying expensive jewelry, like a chain for $50,000 and other pieces for $170,000, using crypto. His YouTube channel is not monetized because he believes it doesn't generate "very much money," estimating around $20,000 a month, which he considers insignificant. He recently spent $900,000 to $1 million on a single video, acknowledging it might not provide a return on investment but was a "pursuit of better" and an "epic experience." He expresses a lack of interest in retirement and has no specific financial goals, though he is open to creating one to make his mother happy. He is in a 13-month relationship but states they are not getting married and he does not want children, though he admits this mentality might change with maturity. When pressed about providing for potential children, he calculates that to raise four children to 18 years old and provide for their mother, around $5.4 million would be needed. He believes he can easily make $300,000 a year to cover this, but the auditor points out this is for if he dies. Togei dismisses the idea of dying, believing "God has a plan" and that children will become stronger through hardship. His current financial status shows $391,000 in total savings, $100,000 in debt, and $300,000 in Pepe crypto holdings, which he considers an emergency fund. He also has an $800,000 equity in his Austin home and a car collection valued at $2.5 million, with a $56,000 loan on one car (a Huracan) at an estimated 18% interest rate. He is advised to pay off this high-interest loan. His recent monthly spending on his Platinum card was $200,000, which he attributed to his family and roommate also using the card. He has a secret $400,000 saved for his grandmother. His grandfather, initially strict about education, encouraged other grandkids to drop out and work for Togei after seeing his monthly income. His business checking account holds $50,000, and his personal account has $4,000. He has $100,000 in CDs, which he can access every three months. He mentions his average quarterly income was $1.85 million, but his net cash flow after expenses was only about $6,800. The auditor proposes a financial plan: save $6 million within two years by consistently putting aside $200,000 a month. This would involve a monthly income of $800,000, with $400,000 allocated to business and content reinvestment, $280,000 for taxes, and $80,000 for personal living expenses, with any additional income being discretionary. Togei agrees to this plan and to meet with financial advisors. The financial audit concludes with a Hammer Financial Score of 3.5 out of 10 for Togei, citing low scores for emergency fund (0/10) and retirement (1/10), but a decent score for debt (7/10) given his income.