- Brandon Medford started a luxury automotive brokerage firm in 2017.
- Since then, he’s built a multimillion-dollar net worth through different businesses.
- He enjoys treating his kids to things like courtside tickets but says underneath he’s still frugal.
This as-told-to essay is based on a conversation with Brandon Medford, CEO of Brandon Medford Enterprises. It has been edited for length and clarity.
When I was 22, I was working as the finance director for an automotive dealership. I was bringing home more money in a month than my parents made in a year. My annual income was about $500,000, and I had virtually no expenses because I was still living at home.
And yet, I still ended up broke. I was spending money on partying, travel, and $1,000 dinners. Most of my friends were making $50,000 a year, so I paid for everything when we went out. I wanted to take care of my people.
After three years of that, I had no money in the bank. I realized I needed to change my mindset about money. At the time, I was devastated, but looking back, I learned an important lesson: you should always budget and live below your means.
As my wealth grew, I looked for more frugal role models
I left that job in 2017 to found an automotive brokerage company. It took off quickly, and I started selling luxury vehicles. What set me apart was how I delivered cars. I would deliver cars anywhere, with a big bow and confetti. People wanted to celebrate the milestone of getting their new car, and I made that possible.
The business continued to flourish, especially after 2021, when I founded a loan program that specifically helped entrepreneurs purchase luxury cars. Suddenly I was selling Astin Martins, Lamborghinis, Ferraris, and other luxury cars like they were Hondas.
As I built my wealth, I realized I needed to emulate people who reinvested their money. I know someone who sold a business for $80 million and reinvested $70 million. You’d never know he had $80 million in liquid assets because he lived off the $10 million. I wanted to be like that, not like the fast-spending guy I was in my early 20s.
I want my kids to enjoy the fruits of my labor
I reinvested money in real estate, business investment, and other enterprises. Today, I’m a multimillionaire. I’m also a dad to three kids, ages 7, 5, and 4.
I still consider myself a very frugal person, but I’m not afraid to indulge in what my wealth can offer me. I want my family to enjoy the fruits of my labor. I helped connect my 5-year-old daughter with a modeling gig at New York Fashion Week, and now she goes to birthday parties with Dream Kardashian.
My 7-year-old son and I go to Knicks games and sit courtside, meeting the players. When I was growing up, my dad took me to one Knicks game every year, and we sat way up high. I used to point to the courtside seats and say, “One day, I’m going to sit down there.” To be able to do that now with my dad and son is very meaningful.
At the same time, I take the kids to the modest homes of my family members in Queens. They know that not everyone is wealthy because they see it in their own family.
I sometimes revisit the Wendy’s I used to work at
When you see someone driving a luxury car, you can react one of two ways. You can say, “Wow, he’s flashy.” Or, you can say, “I wonder what he’s done to be able to afford that.” I’ve always been curious — asking questions like that — and it’s helped me build wealth.
Today, I sometimes drive my Ferrari to the Wendy’s in Brooklyn where I worked when I was 16-19. I’ll go through the drive-thru and tell the person at the window, “This is just the beginning.” I want them to know I was where they were 13 years ago. With discipline, they could do the same thing I’ve done.
