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The cover of The Algebra of Wealth

The Algebra of Wealth

Scott Galloway, 2024

Scott Galloway's formula for financial security: work hard at what you are good at, spend with restraint, start compounding early and diversify, until passive income exceeds your burn rate.

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7 parts, about 20 minutes to read.

Why read it

  • Boils the road to security down to four parts, focus, stoicism, time and diversification, and shows how to size your own number
  • Treats character, habits, friends and your choice of partner as part of money advice, alongside career, compounding and investing
  • Pairs a plain plan of low cost diversified funds with the author's own costly lesson from a concentrated bet

Who it is for

  • Early career readers building a first savings habit
  • People who want a figure for how much is enough
  • Readers weighing a startup against a corporate career

What the summary covers

  1. Wealth: What It Is and How Much You Need3 min
  2. Stoicism: Character, Habits and the People Around You4 min
  3. Focus: Work Hard at What You Are Good At2 min
  4. Choosing and Managing a Career2 min
  5. Time4 min
  6. Diversification4 min
  7. The Whole Shooting Match1 min

Recommended by

  • Morgan HouselAuthor of The Psychology of Money
    Few explain complicated topics better than Scott Galloway.
  • Annie DukeAuthor of Thinking in Bets
    The decisions you make at the beginning of your professional life have a compounding impact on your chances of success
  • David SolomonChairman and chief executive of Goldman Sachs

About the author

  • Scott GallowayProfessor of Marketing at NYU Stern School of Business
    • Born on 3 November 1964; grew up in Los Angeles after his birth in San Diego
    • Born in San Diego and raised in Los Angeles
    • Earned a BA from UCLA and an MBA from UC Berkeley
    • Founded the brand consultancy Prophet in 1992
    • Founded the digital intelligence firm L2 in 2010, acquired by Gartner in 2017 for 155 million dollars
    • Teaches Brand Strategy and Digital Marketing to second year MBA students at NYU Stern
    • Named one of the world's 50 best business school professors in 2012
    • Cohosts the Pivot podcast, launched in 2018

Read it alongside

  • Pushes backThe Millionaire Fastlane

    Scott Galloway says that for economic security, working inside an organization offers better risk adjusted returns than starting a company, so tinker on weekends; MJ DeMarco says a job limits your control and leverage, and the money for lifetime passive income must come from your own business system

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