The AI Billionaire Who Lost $30 Billion Before His Wedding

**Rashad Bilal** (0:01)
We got the message from HQ that Citadel actually brought a lot of Microsoft stock, and that brings us to the story of Leo. I want you to tell a story, and then I'm going to add the animation to it.

**Troy Millings** (0:16)
All right. So let's talk about Leo Bo.
I'll put it like this. This is somebody who is super intelligent. Obviously, worked for Open AI, left the company, decided to create a hedge fund about a year, maybe 18 months ago. But the hedge fund was based on investing in AI infrastructure, the AI story, a lot of energy, a lot of semis are inside that. And the portfolio was, again, started about 18 months ago.

**Rashad Bilal** (0:49)
Let me tell the story.

**Troy Millings** (0:50)
Which one? Which part? Oh, the whole thing.

**Rashad Bilal** (0:52)
Let me just tell the animated part of it.

**Troy Millings** (0:54)
Okay.

**Rashad Bilal** (0:54)
And then you add the technical part of it.

**Troy Millings** (0:56)
All right, got it.

**Rashad Bilal** (0:57)
So, Leo. So, once upon a time was a guy named Leo, right?

**Troy Millings** (1:00)
Leopold, which I don't even like the name, but that's another story.

**Rashad Bilal** (1:03)
We'll call him Leo. All right. Super smart dude, but not really a background in finance, working in open AI.
And starts a hedge fund and really studies the stock market, sees where this thing is going as far as chips are concerned, and becomes an overnight sensation as far as investment is concerned, giving you the abbreviated version. Starts a hedge fund and within like 18 months, grows the hedge fund to $45 billion.

**Troy Millings** (1:33)
From $225 million to $45 billion in about a little over 18 months. Here's the companies he invested in, CoreWeave, Nibius, Solaris, Applied Digital, Core Scientific, Bloom Energy, Iron, Micron, Sandisk, just to name a few.

**Rashad Bilal** (1:50)
So his hedge fund was crazy. It was up like 450% over the year. It was just, he was the, everybody wanted to invest with him. He figured it out. He cracked the code for Wall Street. And he's invested in all those companies, all of those companies, all of the companies that had crazy run-ups.
And he was doing so good in life that he actually decided to get married.

**Troy Millings** (2:13)
Nah, nah, nah, nah, nah, nah, nah, nah, nah. He did get married though.

**Rashad Bilal** (2:16)
He did?

**Troy Millings** (2:17)
He got married this weekend.

**Rashad Bilal** (2:18)
I understand that. So that's what I'm saying. So he was on a run. He's on a hell of a run. He's a billionaire overnight. His portfolio that he's managing is worth almost $50 billion.
He's got his investors 450% over the year. Yeah. Gets married, sets his wedding to get married.

**Troy Millings** (2:39)
Okay, that's fair.

**Rashad Bilal** (2:41)
It's a whole situation. And he even put a thesis out last month saying like, this is a generational buy opportunity for all of these companies, da-da-da-da.
And it's like, man, the biggest gangsters, they all live. It's on Wall Street. That's why I was so fascinated with Wall Street when I was a kid, because I would watch these movies, and the way that they would just move like vultures and sharks and piranhas. And it's just so, it's just so like ruthless.
So one fatal mistake that he made is that he over leveraged himself. I tell you guys that all the time. He was doing so well that he started playing a leverage game.

**Troy Millings** (3:20)
He made a few mistakes. He made a few mistakes. The leverage game was number one. I think investing in those companies early was the smartest thing he did. He's very intelligent.
As he's making the money, he decides to start shorting other positions. So when you short, you make him put saying that these things are going to depreciate. But you got to realize when you're in this space, especially at that billionaire club, like you're managing that type of money, your supporters are watching.
But the people who you're taking money from and taking customers from, they're also watching. And I think he might have underestimated that. In fact, I definitely know he underestimated that because it's great when you're the golden child and hey, this is new hedge fund, this kid is 25 years old. He's the real wolf of Wall Street at this point. The old guard is looking at it like, wait, how is he getting these returns? Number one, is he taking our clients? Number two, and how can we stop him? Number three.

**Rashad Bilal** (4:19)
It's like the AZ Nas song back in the days. It was like, when we first started, nobody noticed us. Nobody gave a shit. But the bigger we get, the more we're taking from other people. So he starts to take market share. He starts to leverage. He starts to be very vocal. He has to be taught a lesson.