31-year-old millionaire sold his first business at 17 for over $100K—he lost it all in 15 months to bad investments: ‘I got cocky, I got arrogant’

Timothy Armoo made his first fortune at just 17, after selling his tutoring business. Despite arriving in the UK as a child with nothing, Armoo scaled his tutoring service to 65 tutors in six weeks. He then founded Entrepreneur Express, which was sold to Horizon Media for £110,000 when he was 17. Eager to turn his newfound wealth into passive income, Armoo invested in a dentist affiliate website and spread betting, only to lose it all within 15 months.

Eventually, he made his money back by founding Fanbytes, a successful influencer marketing agency that was acquired by Brainlabs for an eight-figure sum when he was 27. Armoo warns founders that feeling empty after a big exit is common. He regrets dismissing the feelings of others who described themselves as "empty" after selling a business.

After selling Fanbytes, Armoo realized the emptiness he once dismissed, and struggled with finding his identity outside of his achievements. This experience is not unique to Armoo, as Arianna Huffington and Vinay Hiremath have also faced similar struggles with losing themselves in their businesses.