'Para basıyorum ': Milyarder John Morgan'ın Doğu Alcatraz'ı yılda 7 milyon $ kazanıyor. İmparatorluğunu "şeyh gibi yaşamak" için inşa et

‘I’m printing money’: Billionaire John Morgan’s East Alcatraz makes $7M a year. Build your empire to ‘live like a sheik’

Thomas Kent

Fri, August 28, 2026 at 4:45 PM GMT+3 7 min read

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Billionaire attorney John Morgan says he turned a failed Washington, D.C., museum into a $7 million-a-year money printer simply by moving it to Tennessee.

"I called it Alcatraz East. I'm printing money," Morgan said on The Iced Coffee Hour (1). "That thing makes about $7,000,000 a year. All I did is move the stuff to a different location."

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Morgan glossed over some details. The D.C. museum closed in September 2015 after its landlord terminated the lease, according to Alcatraz East's official history (2). Alcatraz East reopened in Pigeon Forge in December 2016.

Morgan did not specify whether the $7 million represents revenue or profit, and the figure has not been independently verified. However, Forbes (3) estimates Morgan and his family are worth at least $1.5 billion, built mostly through his personal injury law firm, Morgan & Morgan.

Nonetheless, the museum's story captures a central part of his approach to wealth: Owning income-generating assets and putting them where they have the best chance to succeed.

And his definition of being 'financially set' is just as out there.

"$30,000,000 times 4% is $1,200,000/year tax free," he said. "If you give me a paid off house and $1,200,000/year, I can live like a sheik."

You don't need Morgan's $30 million to live well

Morgan's calculation follows the 4% rule, which suggests withdrawing 4% of a portfolio in the first year and adjusting that amount for inflation afterward. The guideline aims to make savings last roughly 30 years, though it's not guaranteed.

Additionally, withdrawals are not automatically tax-free. Traditional 401(k) or IRA withdrawals are generally taxed as ordinary income. Qualified Roth withdrawals are generally tax-free, while taxable accounts can generate taxes on dividends, interest and realized capital gains.

Morgan's math shows how spending determines the portfolio required. Under the same calculation, $60,000 in first-year income requires $1.5 million. An $80,000 target requires $2 million, while $100,000 requires $2.5 million.

Social Security, pensions, rental income or part-time work could reduce those targets. Paying off a home could lower them further.

For example, someone who wants $80,000 a year, but expects $30,000 from Social Security, would need their portfolio to provide $50,000. Using Morgan's calculation, that would require $1.25 million, not $2 million.

You can still apply Morgan's principles by investing consistently, adding income-producing assets, and calculating what your preferred lifestyle will cost.

Plant the first seeds of your empire

Most people build wealth one contribution at a time. Exchange-traded funds are an accessible start to holding a diversified collection of stocks or bonds in a single investment.

At a hypothetical 7% annual return, investing $100 each month for 30 years would grow to roughly $122,000. That example assumes steady returns, and excludes taxes and fees, but it demonstrates what time and consistency can accomplish.

Even small contributions can accumulate over time through tools such as Acorns, an app that automatically invests your spare change.

Signing up takes just minutes. Link an eligible card, and Acorns can round each purchase up to the nearest dollar, then invest the difference in a diversified portfolio. You can also make recurring or one-time contributions rather than relying entirely on roundups.

With Acorns, you can begin investing with as little as $5. If yousign up today, Acorns will add a $20 bonus to help start your investment journey. Acorns charges a monthly subscription fee, so compare that cost with the amount you plan to invest.

Own part of an income-producing property

Real estate can provide income and potential appreciation, but owning a rental requires a down payment, financing, and cash for repairs and vacancies.

You can lower that barrier by purchasing shares of vacation homes or rental properties through Arrived.

Backed by investors including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties. Investors can receive distributions without personally finding tenants, handling maintenance, or answering late-night repair calls.

To get started, browse Arrived's selection of vetted properties, each selected for its potential to generate income or appreciate. Once you choose an offering, you can start investing with as little as $100.

Rental distributions and appreciation are not guaranteed. Fractional properties can also be less liquid than stocks, so consider the expected holding period.

Build a rental portfolio without the 3 a.m. calls

Investors seeking a more selective single-family rental strategy have another option through mogul.

The fractional real estate platform offers ownership stakes in single-family rental properties, giving investors the potential to receive monthly rental income, benefit from appreciation, and access certain tax advantages without making a full down payment or managing the home themselves.

Each property undergoes a vetting process and requires a minimum 12% return, even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Their cash-on-cash yields, meanwhile, average between 10% and 12% annually. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.

Getting started is a quick process. You can create an account, verify your information, and then browse available properties to find an offering that fits your goals and risk tolerance.

Calculate what "live like a sheik" costs you

Morgan's $30 million target reflects his lifestyle. Your number depends on your spending, retirement date, taxes, savings, Social Security and risk tolerance.

A financial advisor can help crunch those numbers and build a plan that works. Hiring an advisor can become a long-term relationship, though, which makes finding a reliable professional particularly important.

That's where Advisor.com can come in. The platform connects you with an expert near you for free.

Advisor.com does the initial vetting, examining advisors' track records, client ratios, and regulatory backgrounds. Its network comprises fiduciaries, who are legally required to act in their clients' best interests.

Enter a few details about your finances and goals, and Advisor.com's AI-powered matching tool will connect you with a qualified expert suited to your financial objectives and preferences.

Finding the right advisor is rarely a one-size-fits-all process. Advisor.com lets you arrange a free initial consultation, with no obligation to hire, so you can determine whether the advisor is the right fit.

Morgan's empire contains law firms, properties, restaurants, and attractions. Yours might begin with an ETF, a share of a rental property, and a plan you can follow consistently. It will be less dramatic than moving a crime museum across state lines. If it eventually lets you live like a sheik, you probably won't mind.