Sales · editorial rating

Grant Cardone

The kernel of 10X, set big goals and work hard, has some support, but it is sold as a guarantee. His best-known investment pitch drew a skeptical SEC comment letter and now a certified class action; no court has ruled on liability, so we score the record as pending, not adjudicated.

Editorial opinion: SG Score 37 out of 100. Verdict: OVERSTATED. This is not a customer star rating and not a finding by a court.

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Strengths

• Pushes salespeople toward high activity and follow-up, which is a real driver of sales volume
• Books are cheap and widely available
• High energy and blunt style motivates some audiences

Weaknesses

• The 10X Rule's publisher description says that level of action guarantees goals and dreams (S1).
• HuffPost reported suits over training contracts, including one for the remaining $16,401 (S5).
• In March 2026 a court certified a class of Cardone Equity Fund V and VI purchasers (S9).

Claims

1. fails. The 4th degree of action, the 10X Rule, is the level of action that guarantees companies and individuals realize their goals and dreams.

   Research does support ambitious, specific goals. But no level of effort guarantees results: intentions often fail to become behavior, and luck plays a large role in outcomes.

   Sources: R01 R49 R46 S1 S10

2. partly. "You're gonna walk away with a 15% annualized return. You can tell the SEC that's what I said it would be." (as quoted in a Ninth Circuit opinion)

   A 2018 SEC staff comment letter said the fund did not appear to have a basis for such a return. Investors allege the statements were misleading in a certified class action set for trial in March 2027; defendants deny the claims and no liability has been found.

   Sources: S4 S5 S6

3. partly. Cardone University is guaranteed to help you get through a tough economy.

   Structured sales training can help, and coaching research shows positive effects. But the guarantee is backed only by testimonials, the price is not published, and HuffPost reported the company sued at least one customer for the unpaid balance of a training contract.

   Sources: R43 S3 S5

Public record

• 2018: SEC staff comment letter on a Cardone fund offering said the fund had commenced only limited operations, had paid no distributions and did not appear to have a basis for a projected 15% return. This was a review comment, not an enforcement action. S5
• 2020: Pino v. Cardone Capital filed in U.S. District Court, Central District of California (No. 2:20-cv-08499), alleging Securities Act violations over social media statements about Cardone Equity Funds V and VI. Defendants deny the allegations. S6
• 2022-12: Ninth Circuit reversed in part the 2021 dismissal, holding that promoting securities through mass social media posts can make a person a statutory seller under the Securities Act. S7
• 2022-12: The Real Deal, citing a Palm Beach Post investigation, reported that tenants at Cardone's Wellington Club workforce housing complex were overcharged 65 times since 2019. A Cardone Capital attorney said the firm was unaware and relied on its property manager. S8
• 2023: HuffPost reported that Cardone Training Technologies sued small-business customers over unpaid training contracts, including one suit for the remaining $16,401 on a $497-a-month contract; both reported suits settled. S5
• 2025-06: Ninth Circuit reversed a second dismissal of the Pino case on all claims and sent it back for further proceedings. S4
• 2026-03: On March 27, 2026, the court certified a class of purchasers of Cardone Equity Fund V or VI in their public offerings; the Ninth Circuit declined to hear an appeal of certification in June 2026. Jury trial scheduled for March 9, 2027. Pending as of Sept 2026; defendants deny wrongdoing and no liability has been established. S9

Also in Sales

• Jordan Belfort (24, HALL OF SHAME)

Sources

1. S1 The 10X Rule (publisher description). Goodreads. https://www.goodreads.com/book/show/10339170-the-10x-rule
2. S2 The 10X Rule Book. Grant Cardone store. https://store.grantcardone.com/products/the-10x-rule-book
3. S3 Cardone University. Cardone University. https://cardoneuniversity.com/
4. S4 Pino v. Cardone Capital, LLC, No. 23-3512 (9th Cir. 2025). U.S. Court of Appeals for the Ninth Circuit. https://cdn.ca9.uscourts.gov/datastore/opinions/2025/06/10/23-3512.pdf
5. S5 Grant Cardone Says He Can Make You A Billionaire. His Investors Claim He Defrauded Them.. HuffPost. https://www.huffpost.com/entry/grant-cardone-financial-influencer_n_64ada368e4b0e87d65574e9b
6. S6 Pino v. Cardone Capital, LLC, et al. class notice site. Court-approved class notice administrator. https://www.cardoneclassaction.com/
7. S7 Luis Pino v. Cardone Capital, LLC, No. 21-55564 (9th Cir. 2022). Justia. https://law.justia.com/cases/federal/appellate-courts/ca9/21-55564/21-55564-2022-12-21.html
8. S8 Cardone's Lake Worth workforce housing complex found overcharging tenants. The Real Deal. https://therealdeal.com/miami/2022/12/13/cardones-lake-worth-workforce-housing-complex-found-overcharging-tenants/
9. S9 The Cardone Capital Class Action in 2026: Certified, Headed to Trial. CrowdfundedWealth. https://www.crowdfundedwealth.com/articles/cardone-capital-class-action-2026
10. S10 The intention-behavior gap. Social and Personality Psychology Compass. https://doi.org/10.1111/spc3.12265

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