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 Today, the talent roster of his management firm works with a
number of big names, like Kanye West, Black Eyed Peas and Carly
Rae Jepsen, which landed him on Time Magazine's 2013 list of the
world's 100 Most Influential People.
For the latest in Reuters' Life Lessons series, Braun, 35,
talked with us about how his philosophy about life and money
stems from world events of seven decades ago.
Q: What life lessons were impressed on you at an early age?
A: The fact that my grandparents were Holocaust survivors has
played a significant role in my life. My grandmother is 87 now,
and was only 15 when she was in Auschwitz. My grandfather died
when I was 14, and he was in Bergen-Belsen and Dachau. So be
grateful for your life, because nothing is guaranteed.
Everything could literally be taken away from you tomorrow.
Q: What was your parents' attitude toward money?
A: Their whole thing was, anything you need can be given to you
within our home. But the moment you step out of your home, you
are on your own. I remember one early money lesson of being in a
Pizza Hut and wanting 25 cents to play video games. My dad said,
'Get a job!'
Q: When you started seeing success as a manager in the music
business, how did you deal with sudden wealth?
A: When I was 25, I had risked everything to launch Justin
Bieber, and was a couple months away from losing everything.
Within a couple of years I had a massive business that led to
where we are today.
One day I asked my accountant, "Hey, how much money do I have?"
That number was more than my lifetime goal. I drove for a couple
of minutes, and then had to pull over because I was so
depressed.
Q: So what did you do?
A: I called my dad, who asked me when I was happiest. I said I
was happiest helping people, or making hospital visits, or
surprising fans with personal messages, or giving away tickets.
He said, "Then implement more of those moments."
Q: As someone who manages young adults with a whole lot of
money, is it difficult to keep them on the right financial path?
A: I am not their business manager, but my job is caring for
them as human beings. I steer their careers to where they have
financial freedom. So I give advice, and have conversations with
them, and get together with their business managers and make
recommendations.
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But at the end of the day, I'm making recommendations to adults, and
hoping that they come to the right decisions.
Q: Have you seen some wasteful spending along the way?
A: Sometimes the private travel gets ridiculous. But for some of
these people, it is hard to even get through airports. Sometimes the
only way to realize what a foolish purchase is, is to make one.
Q: What kind of investor are you?
A: What I do for a living is so high-risk, that I try to make sure
my portfolio is as conservative as possible. I have a group of
people I turn to for advice - one for stock investments, another for
collecting art, and so on. The way I look at my money is that it is
not my own. It is my children's, and I protect it with that in mind.
It is not mine to have, it is mine to give away.
Q: How are you directing your giving?
A: I work a lot with (my brother's charity) Pencils of Promise, with
my wife's charity Fuck Cancer, and with the Make-a-Wish Foundation.
I think 50 percent of giving should be public, because it inspires
others to give. I think the other 50 percent should not be made
publicly, but just because it is the right thing to do.
Q: What lessons are you planning to pass on to your own kids?
A: We have one son who is 17 months old, and another on the way. I
want them to be kind, to understand the importance of giving back,
and know that true success is in the value of our relationships. If
you want to live a long and prosperous life, that doesn't mean the
accumulation of wealth, but the accumulation of character.
Most of all I want them to know exactly where they come from. They
are the great grandchildren of Holocaust survivors, and people who
have worked very hard for the opportunities they have.
(Editing by Beth Pinsker and Richard Chang)
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