Many people dream of being a millionaire and living a high life, but only a select few ever achieve it. According to Zippia, only 1.1% of the global population (roughly around 56 million out of the 8 billion people in the world) are millionaires, and the average age of one is 56 years old. The career experts at Zippia expound, stating that “it takes smart financial decisions, hard work, and wise investments to become a millionaire, most of which don’t fully pay off until around the age of 50 or 60.”
Yousef Elsheikh, the young CEO of ITF LLC, has already gone past these statistics after earning over $20 million before getting his high school diploma.
Elsheikh was a child of two immigrant parents who left Egypt to pursue a better life in the US. Elsheikh shared that the idea for his business started in 2017 when he was in high school and wanted to expand his wardrobe with expensive things without stressing his parents. “I began reselling for the purpose of making enough income to be self-sufficient,” he shared.
He started reselling Supreme products he would purchase from the brand’s Thursday merch drops. “I started purchasing Supreme at 11 AM EST every Thursday while in school. I would put my phone in my pencil case, wear an extra large hoodie, and hide my pencil case in my hoodie pocket. Then, at 10:57 AM, I’d ask to go to the restroom and attempt to purchase the limited and popular pieces of clothing to resell for a profit.”
Elsheikh recognized the potential of his reselling venture and continued to pursue the business. He shared that although he felt a lot of pressure and couldn’t enjoy some of the things teenagers usually experience, he believed that starting a business at his age was rewarding and educational.
Living the high life at a young age
Elsheikh expanded his business and adapted to changes in the volatile reselling market. His company is now a 7-figure shoe-reselling business and an 8-figure Amazon FBA reseller and has employed over 30 employees, managing multiple warehouses in the tri-state area.
He is proud to have achieved the ‘American Dream’ as a first-generation American at such a young age. Yousef Elsheikh plans to attend college soon, but despite his dedication to his education, he continues to look for future business opportunities.