“My kryptonite is cars,” Hayes tells Fortune. “I had two Bentleys…I had a McLaren, Audi R8, Range Rover, G-Wagon. I’ve had pretty much every car.”
“What I’ve learned is, after two weeks, no matter what you buy, you don’t love it the same,” the millennial CEO explains. “[As I get] older, I’m getting a lot wiser. Not saying that you don’t buy things that you want to enjoy and have fun on the weekends…but I think it’s very important that you be mindful of how you spend because we live in a world that you don’t understand.”
“The economy can always shift on you,” he adds. “And I always say this: nobody can save me and my family if I hit rock bottom. I can’t expect anybody to afford these massive bills that I have… The only way I could do that is to be very responsible with finances and decisions, so that I can give my last name a chance of generation-breaking.”
Just like Guo and to the dismay of Hayes, she isn’t willing to drop hundreds of thousands of dollars on a car or luxurious house. Palmer said she learned her checkbook balancing skills from her parents “who knew their limitations with money and finances,” and is careful to save and live a frugal lifestyle as a mega-star.
