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‘Sweet fruit’ for the guy who works 15 hours a day even on weekends, can’t have a vacation for 4 years

Using $10,000 to start a business in his mother’s kitchen and 5 years later selling the company for $600 million, that’s the story of Peter Rahal – who became an overnight millionaire. At the time of the deal, Rahal’s company Rxbar had $130 million in revenue and sold more than 105 million products.

Rahal is currently living in a Miami beach mansion worth nearly 20 million USD. After “changing his life”, he bought a Ferrari 488 and a cream Vespa.

Rahal was born into a family where his father and mother both came from families in the juice business. He had intended to enter that business but for some reason did not do so.

In 2012, he read that it only needed a capital of 10,000 USD to set up an energy bar company (food for people who lose a lot of energy during sports and exercise activities). Realizing the potential market and not having many competitors, Rahal and Jared Smith – a friend since elementary school decided to found Rxbar.

Become a millionaire after 1 night: 'Sweet fruit' for the guy who works 15 hours a day even on weekends, can't have a vacation for 4 years - Photo 1.

Rahal (right) and Jared Smith (Image: Internet).

Rahal and you each spent $5,000 to make products and sell them to gyms. In addition, they also sell goods online. “Initially, we thought it would just be a $10 million business, not hundreds of millions of dollars.”

Their original recipe included nuts, egg whites, and dates. All made in Rahal’s mother’s kitchen. The packaging is also very simple: design in PowerPoint. Seeing her son struggling, Rahal’s mother also participated in the production process to save costs, but because of a mistake, she was “fired” by her son despite working for free.

Over time, the duo expanded to sell products to gyms in Chicago, then Indiana, and throughout the Midwest. Rahal said that by the time RxBar reached $100 million in revenue (with virtually no outside investment), he worked non-stop from 7 a.m. to 10 p.m. every day, including weekends. During the first 4 years, he and his friend did not have any vacation.

Become a millionaire after 1 night: 'Sweet fruit' for the guy who works 15 hours a day even on weekends, can't have a vacation for 4 years - Photo 2.

Some products of Rxbar (Photo: Internet).

In 2017, Rxbar was acquired by Kellogg for $600 million. When the deal was completed, Rahal said he did not hold a party to celebrate and still brought lunch to work the next day as usual. The two Rxbar co-founders each receive a unique one-time payment. After the deal, Rahal stayed to help run Rxbar.

But after a while, he felt unmotivated. The young millionaire recalls: “I didn’t seem right for the CEO position. Sunday night, I didn’t work like I used to. Helping Rxbar grow further wasn’t as challenging as it was at the beginning. Here I am well paid but everything is too safe.” Therefore, he quit his job at Kellogg but remained as the co-founder of Rxbar.

In an interview, Rahal said he still feels quite odd, even nervous when suddenly rich. Now, he joins the upper class, attends lavish events and parties, and discusses bigger issues.

The island where Rahal lives is always guarded. When someone wants to get to know him better, they can find his name and the amount of money he earns on Google. However, Rahal shared that sometimes he still has not adapted to such a life.

Source: Inc

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