Millionaire gives up everything he owns and makes himself broke to show it's possible to make $1,000,000 from nothing

A millionaire has spoken out about conducting an experiment to test if he could make a 'million dollar comeback'.

Back in July 2022, 'in the height of covid' millionaire Mike Black decided to take himself back to square one and start from 'nothing' to then try and build a $1 million business from $0.

Mike Black decided to go broke to try and make a million dollar comeback (YouTube/ Mike Black)

Why?

Black explains he wanted to 'help people' and put out content to show how to start afresh after seeing many around him struggling amid the pandemic.

His YouTube channel descriptions states: "My goal is to help people reinvent themselves during this crazy time. [...] I want to show you how to build your business from NOTHING."

In a video to his X, he adds: "To give people a framework of here's the things I know how to do, and I'll [...] share that knowledge with you and you can take what you want and use it for yourself."

Black wanted to help those who wanted to reinvent themselves after COVID. (X/ @theMikeBlack1)

The project

So, on July 10, Black left behind his life as he knew it to try and start from 'nothing' with the goal of going from '$0 to $1 million in 12 months'.

He not only started without a penny in his bank account, but left his seven-figure business behind, changed his name to Scott - taking on the identity of an 'aspiring videographer' - left his house behind, cut off all family, friends and work friends and only took a phone, pair of clothes, some Covid PPE and camera equipment along with him.

The rules as per his website state: "The $1 million in 12 months can ONLY come from revenue generated from businesses I start during the project or money I make working.

"Any revenue generated as a result of the youtube series will not count towards the $1 million goal."

But, how did it actually go?

Black's goal was to make $1 million from nothing (YouTube/ Mike Black)

Results

Well, Black explains he 'messed up a lot' during the one-year experiment but notes 'it's okay to mess up' and he wanted people to see 'even someone with experience was messing up'.

In a video on May 2021, he explained despite going from being 'homeless' to then making the first $350,000 profit, living out of an RV, signing a contract and then getting a house, ultimately by nine months in the project had 'derailed'.

By week 43, with just two months left, Black explained his 'personal health' had 'declined' so much he had to end the project early.

In a final money tracker report, from 10 July, 2020 to 10 May, 2021, Black revealed his total revenue was $64,158.95 - a far cry from his goal of $1 million.

"I still think if the cards fell a little bit different maybe I could have," he notes.

"But it's still pretty cool to go from absolutely nothing to $10,000 in monthly revenue."

He showed the final money tracker. (YouTube/ Mike Black)

Reflection

Black explains the goal wasn't ever really about 'making a million dollars' but more about 'reinventing yourself' and 'persevering through challenge'.

And after bringing the project to an early close, he noted it'd made him realise what 'truly matters' - 'health and gratitude'.

So, what do you think?

Topics: Coronavirus, Health, Money, Social Media, US News, YouTube, Business

Poppy Bilderbeck

Poppy Bilderbeck is a Senior Journalist at LADbible Group. She graduated from The University of Manchester in 2021 with a First in English Literature and Drama, where alongside her studies she was Editor-in-Chief of The Tab Manchester. Poppy is most comfortable when chatting about all things mental health, is proving a drama degree is far from useless by watching and reviewing as many TV shows and films as possible and is such a crisp fanatic the office has been forced to release them in batches.