Homeless to Millionaire - Chris Gardner Story

THE KOD

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From homelessness to med school to medals to $millions$
Ebony, Dec, 2001 by Charles Whitaker

CHRISTOPHER GARDNER


A huge elephant head hangs on the wall of Chris Gardner's 60th floor high-rise office. It is a symbol of the multimillion-dollar deals Gardner negotiates as the president and chief executive officer of Gardner & Rich, an investment house in Chicago that traffics largely in the big-money world of public finance.

"We bag elephants," Gardner says of the high-powered investment deals he negotiates daily. "That's our motto. We go after the big deals because it takes just as much effort to land a $500 account as it does to land a $5 million one."

It's hard to believe that Chris Gardner, "elephant bagger," is the same Chris Gardner who was homeless. But 20 years ago, with his infant son in tow, he was "bathing" in public rest rooms, eating in a soup kitchen, and scrapping and scratching to make a way in the world. "I had two suits," he recalls. "One was blue and one was gray, just like the Civil War. And man, I alternated those suits every day. But I swore that if I ever made it, I was going to have more than two suits."

Today, Gardner, a 47-year-old self-made millionaire, has more than 200 suits. He also has four homes and a custom Ferrari that once belonged to Michael Jordan. But on the road to his present-day riches, Gardner endured the sort of poverty and homelessness that would have broken the spirit of a lesser man.

With intense dedication and singular focus, this high school dropout drove his dreams to the top and now lives a lifestyle he hardly could have imagined in his youth.

He grew up in Milwaukee, the only son and second-oldest in a family of 12 children. His single mother was a schoolteacher by training, but took a variety of jobs to provide for her children. Young Chris' ambitions were always fanciful. At first, he wanted to be Miles Davis. He studied trumpet for nine years, but eventually realized, "I had the attitude, but I didn't have the talent," he says. "Besides, there was only one Miles Davis and he already had that job."

His goals then became a little less specific, career-wise. "I just wanted to make a million dollars," he says. "But I couldn't sing and I couldn't play ball, so I said to my mother, `How am I going to make a million dollars?' And she said to me, `Son, if you believe you can do it, you will.'"

It was the faith of his mother that set Gardner off on the incredible journey that led to his current success. It was a rather circuitous journey, however.

A bright but indifferent student, Gardner decided early on that college wasn't for him. He dropped out of high school, lied about his age and joined the Navy, hoping to see the world and become a medic. But the farthest his naval career got him was North Carolina.

Working in the Navy's medical corps did help him make an important connection with a cardiac surgeon who was also in the service. When both were discharged, Gardner traveled to California and became the doctor's clinical research assistant at the University of California Medical Center in San Francisco. The work was fascinating, but Gardner was still only making $7,400 a year, a paltry salary even in 1973.

He contemplated becoming a doctor, but staring down the road at medical school loans and wisely anticipating the managed care crisis, he decided that medicine wasn't going to be the best way to make his million.
 

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He latched on as a medical supply salesman, boosting his income slightly to about $16,000 a year. Then one day as he was loading his car with the samples and catalogues that are a salesman's calling card, he spotted a guy in a bright red Ferrari. Gardner took one look at the car and fell in love. "I asked the guy two questions," he says. "One was, `What do you do?' The second was, `How do you do that?'"

The man was a stockbroker, and when he told Gardner that he earned in the neighborhood of $80,000 a month, Gardner decided that his future was in investment. But there were a few obstacles to overcome: He had no education, no experience in the stock market and no connections. Undaunted, he scouted about for an investment firm that would take a chance on him. He convinced the manager of a training program at one brokerage firm to give him a shot, but on the day he showed up for work, he discovered that the manager had been fired and no one else in the company had ever heard of Chris Gardner or the deal he'd been offered. It was a devastating blow, especially since Gardner had already quit his sales job, intent on making it big selling stocks.

Undeterred, he took odd jobs to make ends meet while still trying to break into the investment arena. The San Francisco office of Dean Witter was the only firm to nibble, but they were skeptical and took him through 10 months of interviews. But by this time Gardner also had a family to support--a girlfriend and an infant son. One day he returned home from a house-painting job to find his girlfriend, his son and all of their belongings gone. To compound his troubles, a policeman ran the plates on Gardner's car and discovered that he had $1,200 worth of unpaid parking tickets. Penniless, he was sent to jail for 10 days, with his release scheduled for the day before he was to have his final interview at Dean Witter.

He called from jail to reschedule his interview, and the next day showed up at Dean Witter in paint-splattered jeans and a T-shirt. Rather than conjure up an elaborate explanation for his appearance, Gardner told the interviewer the truth: that the mother of his son had left him and taken the child, that he'd just gotten out of jail, that he was broke and desperate.

Surprisingly, the truth worked. It turned out that the interviewer had recently been through a bad divorce. He empathized with Gardner's plight and gave Gardner a spot in the training program.

That bit of good fortune was dampened, Gardner says, when his ex returned with their 18-month-old son, Chris Jr. She handed the boy off, he says, telling Gardner it was his turn to care for the child. Parenthood forced Gardner to take a good, hard look at his life. The picture was bleak. The roominghouse he was living in didn't allow children, so Gardner and his young son were plunged immediately into homelessness. "The truth is, I was homeless before Chris came, I just didn't know it," Gardner says. "I was just functionally homeless--living with friends, staying a night over here, a couple of days over there. Now, with Chris, I had to face it."

Those were tough times. His job at Dean Witter paid him just enough to get by while he studied for the broker's exam. So by day Gardner went into his office--in either his blue or gray suit --and performed a variety of menial tasks while trying to learn the investment game. At night, he schemed to find food and shelter. For a time, the two scraped by living in $25-a-night motel. When the money got tighter, they went down market even further to a $10-a-night motel. Sometimes they stayed in the locked bathroom of the Oakland subway terminal. Most of Gardner's money went to pay for day care, disposable' diapers and food for his son. But Gardner says he never lost faith. "I was homeless, but I wasn't hopeless," he says. "I knew a better day was coming."

Help came when he learned about a shelter for single mothers run by the Glide Memorial United Methodist Church in Oakland. Though Gardner wasn't a single "mother," he convinced the program's founder, the Rev. Cecil Williams, to allow him into the shelter. That small bit of stability gave Gardner a foundation that enabled him to focus even more on work.

After earning his broker's license, he worked the phones relentlessly, making up to 20 cold calls to prospective clients. His persistence got him noticed by the folks at Bear Stearns, which offered him a job. He would have stayed at Bear Stearns, too, but after the company went public in the late 1980s, he saw his sphere of influence shrink and decided to strike out on his own.

He launched his own brokerage firm and decided to base it in Chicago, buoyed by the success of other Black businessmen there. ("If you look around the country, no city has fostered more Black entrepreneurs than Chicago," he says.) After landing some key clients, notably the pension fund of the Chicago Teacher's Union, his business took off and Gardner hasn't looked back.

Divorced and now the father of two (his 16-year-old daughter Jaccintha is a sophomore in high school; son Chris, 20, is a senior in college), he spends his days in constant motion, jetting cross-country to make the deals that keep him at the top of the investment game.

Though he has few regrets about the path his life has taken, he cautions the many young people he speaks with against following his lead. "Stay in school," he warns. "It's what will give you options. You don't want to try to do this thing the way that I did."

SHANTWANIA BUCHANAN
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CHICAGO, Illinois (AP) -- It was just a movie set, but in a moment it showed Chris Gardner where he'd been -- and how far he'd come.

There with actor Will Smith -- who is playing Gardner, a former homeless man turned millionaire -- Gardner stood in what looked like the train station bathroom where he once slept a quarter century ago.

Suddenly he was overcome with memories of teaching his 2-year-old son to never, ever open the locked bathroom door, no matter how hard someone pounded on the other side. It didn't matter that he now had three homes -- one a condo in New York's Trump Tower -- or that he'd gone from selling his own blood to buying Michael Jordan's car.

"I had to get out of there," he said.

The story of how the 52-year-old Gardner did just that, climbed out of homelessness and became a millionaire stockbroker with his own 15-employee Chicago firm, is being turned into a motion picture, slated for release in December. It's also the subject of Gardner's own just-released book, "The Pursuit of Happyness." The unique spelling of "happiness" is intentional.

Even in the realm of rags-to-riches tales, Gardner's story is unique. Take, for example, the events that led to his descent into homelessness.

A medical supplies salesman barely making enough money to support his girlfriend and baby, Gardner had one of those Hollywood moments in a San Francisco, California, parking lot in 1981 when he spotted a man looking for a place to park his red Ferrari.

"I said to him, 'You can have my place but I've got to ask you two questions. What do you do and how do you do it?' " recalled Gardner.

The man was a stockbroker. Gardner didn't know a single stockbroker or even what one did. But the man said he made $80,000 a month -- $50,000 more than Gardner made a year.

Gardner found a brokerage firm willing to hire him and quit his job. But when he showed up for work he learned the guy who'd hired him had been fired. Gardner's job was gone.

Then, days before a scheduled interview with Dean Witter, a loud fight with his girlfriend brought the police to his door. The next thing Gardner knew they were asking him for $1,200 to clear up some unpaid parking tickets.

They may as well have asked for $12 million. Gardner spent 10 days in jail.

When he was released, his girlfriend and son were gone. He had no money, no home and the only clothes he had for his job interview the next day were the ones he wore to jail.

How was he going to explain showing up wearing jeans and paint-splattered Adidas shoes?

"I couldn't think of nothing that could top the truth," he said. He went with that and got the job.

A few months later came a knock on the door of the boarding house where he was staying.

"It's my ex and, guess what, she doesn't want the baby any more, here." he said. "The boarding house does not allow children. That's how we became homeless."

Some nights they stayed in a $25-a-night hotel, a park or under his desk at work. And a few nights were spent in an Oakland, California, Bay Area Rapid Transit station.

"I had to teach my little boy how to play a game and the game is called SHHHH," he said. "That means no matter what anybody says on the other side of that door, no matter how much noise they make or what they threaten, we ain't here, OK?"

Finally, they moved into a homeless hotel in San Francisco run by Glide Memorial United Methodist Church.

"There were no keys, so every day you take everything with you," said Gardner. "For a year, I'd take my son, his stroller, a big duffel bag with all his clothes in it, my briefcase, an umbrella, the biggest bag of Pampers in the world, one suit on my back and one suit in a hanging bag and we'd hit it every day."

When it rained, he covered the stroller with plastic sheets he'd picked up from dry cleaners.

Gardner told his co-workers nothing.

He also distinguished himself from others who turned to Glide for food and shelter.

"If you saw a man with a child, that was rare, incredibly rare," said the Rev. Cecil Williams, Glide's pastor. "I remember discussions about him, about how that man really loves that boy because he won't let him get away from him, he won't push him aside."

Day care took a huge chunk of his meager stockbroker trainee salary, and it took Gardner about a year to save enough to move himself and his son into their own home. From there, his career blossomed, and in 1987 he opened his own firm in Chicago.

Today, signs of his success are everywhere, starting with an office that includes a gleaming desk made of a DC-10 tail wing, African art work, boxing gloves and photographs signed by Muhammad Ali. Sharing space with pictures of his adult son and daughter are photographs of Gardner with Nelson Mandela, and a vase full of dirt that Gardner brought from Mandela's yard after visiting the former South Africa president.

He no longer has the Ferrari he bought from Jordan.

Gardner, who never went to college, has contributed tens of thousands of dollars to education, writing checks for as much as $25,000 to teachers, janitors, bus drivers and others who work at schools.

Gardner is focusing much of his attention now on South Africa, trying to persuade major investors to invest $1 billion there -- an effort praised by South African officials.

"In the current state of our economy, creating an investment fund is critical," said Yusuf Omar, South African Consul General in Chicago, who recently stopped by Gardner's office.

For Gardner, helping South Africans pull themselves up makes perfect sense.

"Everything I've learned working on Wall Street, 25 years, to be able to make a difference in the lives of a lot of people and we all make money, it (doesn't) get any better than that," he said.
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THE KOD

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3 Seconds

Fcuk Frist
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Franky Wright said:
WoW,
I cant believe he is BLACK.......... :scared

My thoughts exactly. I definately had a mental image of a white guy, my jaw dropped when it mention he was black. :com:

Do this mean I ama bad person?? :shrug:
 

ctownguy

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No it doesn't but I had the exact opposite feeling when I read the part of being from a family of 12 kids and a single mom, knew right then he was probably black.

Would really like to know how a new company and relative new stockbroker gets an account like the Chicago Teachers Union account. Bet if this story was exactly the same except that he was white, think he would have got that account??? :shrug:
 

dr. freeze

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BobbyBlueChip said:
Can't believe this is even a story with all the government breaks these guys get. Affirmative Action makes all these guys millionaires

classical pursuit of the American Dream through hard work and self reliance

after listening to you leftists, i thought it took a government funded degree in Sociology with the government babysitting you while you cry on their shoulder for all your bad breaks
 
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