Web entrepreneur Andrew Fashion made $2.5 million by the age of 21 helping people bling out their MySpace pages. He blew it all before he turned 22. Meet Andrew and learn where his money went.
Business Insider published Nick Tart's Q&A with Andrew, who started his first business in sixth grade when he and a friend figured out how to turn mechanical pencils into rocket launchers. He dropped out of high school after launching a pair of sites to give people tools to "design" their MySpace pages, earning himself a small fortune before it all went up in smoke. Today he's working on a new website, oversees a photography company called "Fashion N Glamour Studios," and is writing a memoir called Young & Stupid. So how did Fashion make $2.5 million, but later end up in debt? (I'm still trying to figure out is "Fashion" is his real name.) Here's how:
I bought my first car, in cash. I bought my house and had $80,000 dollars of renovations done to it. I ended up buying seven cars total, a few for my friends. One of my friends wrecked a car; I wrecked a car. I paid for that out of pocket. A lot of my money just disappeared.
I had a girlfriend. I lost a lot of money in Vegas. I got into poker. I bought a lot of toys, photography equipment, technology, tons of clothes, and trips to places like London, Florida, and Hawaii. I was young and stupid. The money was coming in so strongly, but it went out just as fast. All of a sudden, my site dropped off of Google and the money just stopped.