NYU Stern professor and serial entrepreneur Scott GallowayWHO sold his second company, L2, for 158 million dollars in 2017, says that every young person needs a plan to create wealth – and that they should pursue what they're good at, not necessarily who they are passionate to live the life they want.

In a July interview with tODAYGalloway defined the wealth as bringing more passive income than what burns. So being rich is not about earning a certain dollar amount, but an amount that gives you what you need to feel the absence of financial stress.

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To get to that point, Galloway says to “find your talent, not follow your passion” from a young age.

“Anyone who tells you to find your passion or follow your passion is already rich,” he declared. “You want to be thoughtful about doing something (where) you can be in the top ten or the top one percent… Fulfillment comes from mastery.”

Galloway gave the example of tax law. If someone can study law, meet the requirements to become a tax attorney and rise to the top 10% of their peers, they will become passionate about it, according to Galloway.

Craft leads to passion, he said.
^{Scott Galloway. (Photo by Tobias Hase/Picture Alliance via Getty Images)}

Galloway also recently weighed about what qualities one needs to become a successful entrepreneur.

He said that entrepreneurship is not for everyone, because starting a business requires certain traits such as aggressiveness towards risk.

Those “are some attributes that most people don't have,” he said.

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