Clay explores the life of Sol Price, the retail pioneer behind FedMart and Price Club, which led to the creation of Costco. The episode highlights how Price's business philosophies of treating employees well and focusing on customer value inspired entrepreneurs like Sam Walton and Jeff Bezos. IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:01:10 - Sol Price’s upbringing 0:09:46 - Getting into the Retail Business 0:12:13 - Launching Fedmart 0:34:14 - Selling Fedmart 0:38:07 - Launching Price Club 0:47:31 - Launching Costco 0:52:57 - Merging with Costco 0:58:37 - Costco Business Overview 1:07:45 - Outro 🤝 Network with like-minded value investors and get new stock ideas by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 📊 Add the Fundrise Flagship Fund to your portfolio in just minutes and with as little as $10. http://fundrise.com/wsb ✍️ Get your paper tablet at reMarkable.com today. https://remarkable.com/?utm_source=podcast&utm_medium=paid&utm_campaign=westudybillionaires%7Cremarkableaudio2025&utm_term=a&utm_content=januaryread 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ ▶️ RELATED EPISODES: - The BEST Investor You've NEVER Heard Of: Nick Sleep: https://youtu.be/YJQaKHnurpo - Value Investing Fundamentals & Current Market Conditions w/ John Huber: https://youtu.be/AFCtP2EfJs4 - Outperforming the Market, Managing Risk, & Market Inefficiencies w/ Andrew Brenton: https://youtu.be/VffsZHSVGqg - Investing in Exceptional Businesses for the Long Run w/ Dev Kantesaria: https://youtu.be/nt5jnCCW2iM - 7 Powers: Business Durability & Strategy Masterclass w/ Hamilton Helmer: https://youtu.be/j7Vn7l8QtxU 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/sol-price-the-retail-visionary-behind-costco/ 📖 BOOK MENTIONED: - Sol Price: Retail Revolutionary & Social Innovator, The Joy of Costco by Robert E. Price: https://amzn.to/4fXQ1Fl Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙 On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.