Welcome to Fortune’s "How I Made My First Million" series, where powerful entrepreneurs share their wealth-building stories. Today, we spotlight Luca Netz—CEO of Pudgy Penguins—who transformed adversity into a $100 million empire.
Key Takeaways
- Age: 25
- Career Highlights: Founder of a Shopify jewelry business, CMO of Gel Blaster, CEO of Pudgy Penguins
- Net Worth: $100 million
- First Million at Age: 18
- Biggest Splurge Regret: Rolls Royce Cullinan
From Homelessness to Walmart Shelves
Luca Netz’s journey began in poverty, bouncing between homes across Los Angeles and globally. By 18, he’d sold a drop-shipping business for $8 million. Today, his NFT collection, **Pudgy Penguins**, boasts a $100 million market cap and a toy line at Walmart.
👉 Discover how NFTs are reshaping commerce
The Luca Netz Playbook: Resilience Hustle
Early Hustles
- Middle School: Sold Burger King sandwiches at a 150% markup.
- High School: Dropped out (via proficiency exam) to pack boxes at Ring, later scaling a fake gold chain business to $1M in 9 months.
Pudgy Penguins: A Web3 Phenomenon
Netz purchased the NFT collection for $2.5M in 2022. His vision:
"Pudgy Penguins is the next great character brand—reinventing IP through community-driven storytelling."
Recent Milestone: Launched Pudgy Toys at Walmart, targeting Gen Z with collectibles tied to NFT lore.
Wealth Wisdom: Frugality Focus
Netz’s Money Mantras
- Avoid "Keeping Up": Skip $1K steaks—opt for $100 meals.
- Delegate: Uses a wealth manager, accountant, and venture team.
- NFT Investing: "Buy what you love; authenticity trumps trends."
Biggest Mistake? The $400K Rolls Royce—"a clunky oil rig."
FAQ
1. How did Netz make his first million?
By dropshipping gold-plated chains via Instagram fan pages—scaling to $8M in sales before exiting.
2. What’s next for Pudgy Penguins?
Expanding into gaming, animations, and global IP licensing.
3. Advice for young entrepreneurs?
"Start early. Fail fast. Learn from Jobs and Gates—not ‘gurus’."
👉 Explore Web3’s disruptive potential
Final Thought
Netz’s story underscores a truth: Adversity fuels innovation. His relentless hustle—from homeless teen to NFT mogul—proves that with grit, even penguins can fly.
For more on disruptive entrepreneurs, click here.
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