He is the King Kong of non-public finance, the Iron Man of affability, a 50-something millionaire who by no means misplaced contact together with his roots and lives in a “falling aside” bungalow on the fringes of Waterloo.
He is David Chilton, writer of one of many bestselling Canadian books of all time, “The Rich Barber.”
And with a number of tasks on the go, he isn’t one to be pinned down for an interview.
“I can solely reply yet one more time,” he tells me after 11 months of back-and-forth emails and telephone calls by which I’ve badgered him relentlessly.
“Actually, that is longest interview of the 5,000 interviews of my profession – by lots.”
The reality is, I am fortunate to get him in any respect.
After I first pitched the thought again in January, he was about to say no till he realized I had profiled his outdated highschool pal, Alex Mustakas, the Drayton Leisure theatre impresario he has maintained a jokey rivalry with for the previous 40 years.
If Alex can do it, he reasoned in his pithy sardonic method, he might do it higher.
“There is not any rivalry,” he insists once I probe deeper. “We have really been one another’s largest supporters. The friendship thrives as a result of we’ve got lots in frequent, mutual respect and related senses of humour . (strategic pause) . although I am funnier.”
It is amusing to see this lighter, extra private facet of the 58-year-old monetary guru, who spends most interviews commenting on issues of non-public wealth and touting his deceptively easy formulation for monetary success: do not blow cash on dumb stuff.
Getting him to reply my laundry record of questions is one other matter.
Because the Babe Ruth of Wealth Acquisition geese out and in of conferences, drives via wind tunnels and burns the midnight oil writing a 3rd e book, it turns into clear the possibilities of closing this deal are about the identical as Madonna easing into swish retirement or the Leafs profitable the Stanley Cup.
“Have not forgotten you however loopy till finish of October!” he writes every week earlier than Thanksgiving. “Do not hand over on me!”
His missives are quick and stuffed with exclamation factors, the product of a thoughts racing between one nice concept and one other.
After I do get him on the telephone, briefly, he is often in his automobile, allotting frenetic bursts of element as he updates me, in his humorous, self-deprecating method, on his multitude of entrepreneurial ventures.
The actual fact he skipped a grade in elementary college and left Wilfrid Laurier College earlier than ending his (later accomplished) economics diploma to make his fortune would not shock me.
Chilton – regardless of his laid-back persona – is a person on hearth, juggling tasks like a circus performer, fuelled by adrenalin, ambition and a relentless need to create.
The one factor that slows him down sufficient to catch his breath? Ribbing his outdated pal, Alex.
You’ve got skilled fame in two totally different eras: in 1989 with “The Rich Barber” and from 2012-15 as a choose on the CBC actuality present “Dragon’s Den.” Which has been extra satisfying?
“The Rich Barber.” I am proud it helped so many individuals. And shocked that it continues to be referenced so typically at the moment. I am not that sharp – ask my youngsters! – and have actually solely had one good concept. Thank heavens I had it once I was younger!
Describe the second once you realized your self-published e book a few folksy barber who dispenses monetary recommendation had change into a phenomenon?
In Could of 1990. I spoke in Halifax and the sponsor anticipated a crowd of some hundred folks. Twenty-two hundred confirmed up! I am going to always remember that evening. I referred to as my mother and he or she stated a fast congrats after which jogged my memory to double test my lodge room to verify I did not depart something. Mothers!
You reside in a 1,300-square-foot bungalow outdoors Waterloo. Given your success, why are you not ensconced in a Beverly Hills mansion with a moat?
I am a giant fan of smaller properties. The truth is, I would like them so small that no firm can slot in comfortably. Hate firm! And, sure, earlier than you ask, it is true that I have never turned the oven on within the 23 years I’ve lived there. Quickly, although – I really feel it coming!
Rock star Randy Bachman as soon as instructed me the principle element of success is not expertise or ambition, however perseverance. How does this apply to David Chilton?
Hmm. Definitely exhausting work performed a giant function, however luck set the stage. I used to be born to improbable dad and mom. Have been extremely wholesome. Fell into an impressive group of pals. I reside in Canada.
This feels like an Order of Canada speech.
Of all of the fortunate breaks I’ve had, maybe the luckiest is that I perceive how fortunate I’m. Life has fallen my method. I always remind myself of that. Plus, as fundamental as this sounds, I have never discovered it very productive to be in a nasty temper. Even when dealing with robust instances. Heck, particularly when dealing with robust instances.
Canada is a rustic that does not usually rejoice its personal. As a bestselling author-turned TV star, what’s it like for you strolling down the road?
Not a day goes by the place I am not stopped a number of instances by readers – all the time good, all the time well mannered. They typically share tales concerning the books’ impression and the way they first got here throughout them. Amazingly, I nonetheless get requested lots if I used to be ever a barber. Humorous as I’ve had the identical hair type since Grade 1. Critically.
What are the highest three questions you get requested at cocktail events, financial institution lineups and quick meals retailers?
“Is Kevin (O’Leary, former fellow investor on “Dragon’s Den”) actually an ass?” Just about, yeah.
“Ought to I pay down my mortgage or construct up my RRSP?” I’ve really had this query 1000’s of instances. Ugh!
“The place are the inventory markets going now?” I don’t know, nor does anybody else.
In 1994, after an amusing lecture punctuated with wisecracks at Waterloo’s Humanities Theatre, I described you as “the Howie Mandel of Finance.” Elsewhere, you have been coronated “the Elvis Presley of Finance.” Which nickname has stood the take a look at of time?
Loopy, however it’s really “barber.” In some way I am the one writer who has change into referred to as the character he created. I doubt anybody yelled at Herman Melville: “Hey, Dick! Moby Dick!”
How did rising up in homey, down-to-earth Waterloo Area form your character?
I like Kitchener-Waterloo and the encircling space. How might you not? Vibrant, diversified financial system. Unimaginable variety of clever, caring folks. It actually would not get any higher. I discovered lots rising up right here about group involvement and about mentoring. And polka dancing. And after we lastly get the 60-year venture of fixing the on-ramp to the eastbound 401 full, the area might be even higher!
Describe teenage Dave at Kitchener’s Eastwood Collegiate. Occasion monster? Class clown? Sports activities star?
I used to be a median athlete however was fortunate to be on groups with my closest pals, all rather more expert than I. I used to be concerned in a few the massive musical productions – Alex nonetheless tells folks I used to be the least gifted pupil to ever take the stage. However I remind him that I went on to star on “Murdoch Mysteries” – for 3 minutes.
You studied economics at Wilfrid Laurier College. Fond recollections?
I liked my years at Laurier and am nonetheless very concerned, although my nickname, “Calculus Dave,” did not result in many relationship alternatives.
In 1985, you took the Canadian Securities Course finance examination with out finding out and scored the very best mark within the nation. Did you write the solutions in your hand?
Sure, it is true I did effectively with out finding out. Sadly, that is not as a result of I am sharp, however as a result of I used to be a real finance nerd. I learn on the topic for hours and hours every week in my late teenagers and early 20s. No marvel I could not get a date. It wasn’t simply the nickname.
You are typically described as “endlessly affable” and “the world’s happiest individual.” How completely satisfied are you able to probably be?
I actually am always upbeat. There are solely two issues that may get me to say “sufficient is sufficient”- the Detroit Lions and my sister’s continuous image taking at household gatherings.
Earlier than her passing in 2016, you continued to take your laundry to your mother’s home regularly. Did she ever sit you down and say “Dave, you cheapskate – time to spend money on a washer!”
Folks typically accuse me of taking my laundry over to my mother’s proper as much as weeks earlier than her passing. But it surely’s simply not true. It is a fable . She picked it up.
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You do not smoke or drink alcohol or espresso, however have a tender spot for black licorice – vice or advantage?
Black Nibs are my largest weak point. I can not perceive why they are not a part of Canada’s Meals Information. I am significantly considering retiring from my varied companies and opening a Nibs farm close to Wellesley.
In 2017, you have been Grand Marshal within the Oktoberfest parade, following within the footsteps of John Sweet, Bobby Orr, Raymond Burr and Arte Johnson. What is the hyperlink?
The parade has now had the world’s greatest skater (Orr) and the world’s worst skater (himself) as Grand Marshal.
Arnold Schwarzenegger will all the time be referred to as the cyborg murderer robotically warning “I will be again.” As The Terminator of Private Finance, what’s your private catchphrase?
“Pay your self first!” A number of years in the past I pushed “Pay the barber first!” however it by no means actually gained traction.
As greatest pals, you and Alex as soon as ran a monetary planning firm collectively, but your careers have veered in wildly totally different instructions. What is the glue that bonds you guys collectively?
I’ve unimaginable respect for him – really essentially the most gifted man I do know. The actual fact he would not have every other pals has additionally helped to maintain us shut.
How related is “The Rich Barber” within the digital age? Do folks even learn books anymore?
The fundamental teachings nonetheless maintain. That stated, the main points and cultural references are woefully old-fashioned. For instance, ETFs and TFSAs, very fashionable merchandise now, aren’t even talked about. Amazingly, although, the writer nonetheless appears like his cowl picture of 30 years in the past. Not.
Why have we not seen a film model?
Truly, a pair U.S. manufacturing firms have approached me about turning “The Rich Barber” right into a TV sequence. I by no means wished to, although. I like that readers can visualize the barbershop and characters in their very own method. Plus, as talked about, the e book would wish a whole rewrite and I am too busy. On my telephone. And consuming Nibs.
If Hollywood purchased the rights, who would play the Chilton-styled barber? Clooney? Pitt? Sandler?
Nicely, I did play myself on “Murdoch Mysteries” and “Artic Air” to rave critiques – from my mother. However I feel a extra skilled, extra dashing actor can be extra applicable. Alex Mustakas, maybe.
Inform me about your early barbering experiences. Did you get free monetary recommendation with each haircut?
My barber rising up was Bernie Fitzgerald. Implausible man. He used to connect quarters to the ground to tease the children. Labored on me forty-eight instances. He was very a lot a gentleman – clever, well mannered and sort. I consider him typically.
As a enterprise capitalist with extra hits than misses, you possess a high quality exceedingly uncommon in monetary circles: frequent sense.
It is humorous however I do not deal with frequent sense teachings and fundamental recommendation as a result of that is what I really feel folks relate to. I deal with it as a result of, on the earth of non-public finance, that is what works! Sure, the tough stuff – advanced choice methods, for instance – is hard for the typical individual to grasp, however it’s additionally ineffective. I hold it easy as a result of easy works. And, sure, earlier than you say it, as a result of I’m easy.
In 2011, you revealed “The Rich Barber Returns,” which offered a formidable 400,000 copies, however not the two.5 million of its predecessor. If it was a Hollywood movie, wouldn’t it be “The Avengers: Endgame” or “Porky’s 2?”
Curiously, “The Rich Barber Returns” is promoting very effectively proper now, eight years after launch. I feel me getting out of the general public eye helps gross sales!
You suggest utilizing money over credit score/debit playing cards as a approach to monitor spending. Do you retain a wad of payments stuffed below your mattress?
I conceal the cash in my oven so it could actually at the very least serve some objective. Kidding. Please do not break in – bear in mind, I hate firm!
You stay, as all the time, a dedicated workhorse, working with native college grads on a enterprise to purchase small companies and a venture to make use of synthetic intelligence in a sports activities setting.
That is been enjoyable. I am studying lots.
You are additionally writing a 3rd e book, due for launch subsequent yr. Let me guess: “The Rich Barber Goes To Vegas?”
It is erotica for seniors.
I am kidding. That was joke.