Justin Gilmore, who grew up so poor he had to heat water on a stove and share baths with his siblings, has revealed how he became a self-made millionaire who supports his entire family.
The self-proclaimed “ATM King” makes more than $240,000 a month operating ATMs across the country – and now he has his sights set on the controversial Bitcoin market.
Gilmore, 38, was raised by his single mother in Atlanta with his two siblings.
He remembers the nights the power went out, his family lived on cereal and sandwiches and visited his grandparents for food as his mother Sandra – who died in 2019 – struggled to keep up with the bills .
“Don’t get me wrong, my mother was a saint – but times were tough,” Gilmore told Jam Press. “One thing that stands out for me is how my mum would use a portable stove to heat the water whenever there was a power outage, and then we would dump it in the tub. Then I got into the tub first because I was the eldest, followed by my younger brother and sister.
“As a kid, I thought it was magic,” he said.
But he remembers seeing his mother burdened with bills throughout his childhood, and his school life was hardly an escape. He felt ‘stricken’ by teachers when he was expelled at 15, but it drove him to start building his wealth at a young age.
“It was a very difficult time, but it absolutely motivated me to do well in life,” noted Gilmore.
After being expelled from school, Justin took a $4.75 an hour job at his local grocery store, where he was promoted to night manager two years later.
He eventually quit his grocery job to start his first entrepreneurial venture bartering pizzas out of the back of his car. The barter business was so successful that he sometimes gave out as many as 100 pizzas a day.
In 2004, Gilmore became a parent when her first son Justin Jr. was born. The birth of his son prompted him to look for a more lucrative business.
As one does when one needs cash, Gilmore turned to ATMs.
He started researching locations that needed ATMs, offered free installation, and then negotiated a breakdown and contract terms with the merchant.
“In simple terms, we process transactions for businesses that have our ATMs, connect the customer using it to their bank, and we earn an ‘interchange fee’ for providing that service,” Gilmore explained.
“These fees never come out of our customers’ pockets – their banks pay us.”
The entrepreneur now owns 600 ATMs and processes more than 2,000 ATMs for customers nationwide, but he is not done yet.
Gilmore is looking to the future and already plans to continue its business with bitcoin ATMs. He started investing in ISO20022 tokens in 2017 and aims to be a leader in turning real money into cryptocurrency and vice versa through his website. BTMmachines.com.
“There’s no two ways about it, cryptocurrency is the future,” he said. “And with my business, people will reduce the costs of getting their Bitcoin off the blockchain and into trading it.”
The ATM King has worked hard to earn several luxury homes, a garage full of sports cars, and lots of fun tech toys, but he’s most proud of simply supporting this family.
“I’m really proud of how far we’ve come, but I also feel blessed that I was able to take care of my mother financially from 2011 until her passing,” Gilmore said.
“My uncle and my brother both work for me full time, and my brother also has his own ATM road. My family not only played a part in making this happen, but now it’s part of their lives. .
He continued: “None of them will ever have to worry about heating or food again.”