Money23 Review: $29 a month matrix recruitment
There is no information on the Money23 website indicating who owns or runs the scheme.
The Money23 website domain (“money23.com”) was registered on the 31st of January 2016, however the domain registration is set to private.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The Money23 Product Line
Money23 has no retailable products or services, with affiliates only able to market Money23 affiliate membership itself.
Bundled with each matrix position purchase is a copy of the PLR ebook, “8 weeks to riches”. This appears to be a guide on how to promote Money23.
The Money23 Compensation Plan
The Money23 compensation plan sees affiliates pay $29 a month for a position in a 4×8 matrix.
A 4×8 matrix places an affiliate at the top of a matrix, with four positions directly under them:
These initial four positions make up the first level of the matrix. The second level of the matrix is generated by splitting each of the first level positions into another four positions each (16 positions).
The third level of the matrix is generated by splitting the second level positions into another four positions each (64 positions), and so on and so forth down a total of eight levels.
A complete 4×8 matrix houses a total of 87,380 positions.
Positions in the matrix are filled via direct and indirect recruitment of affiliates. Commissions are paid out when recruited affiliates in the matrix each pay their $29 a month participation fee.
How much of a commission is paid out is determined by positions filled in a matrix and on what level:
- level 1 (4 positions) – $16.45 per position filled
- level 2 (16 positions) – $8.67 per position filled
- level 3 (64 positions) – $5.53 per position filled
- level 4 (256 positions) – $4.74 per position filled
- level 5 (1024 positions) – $1.44 per position filled
- level 6 (4096 positions) – $2.74 per position filled
- level 7 (16,384 positions) – $2.04 per position filled
- level 8 (65,536 positions) – $1.62 per position filled
Commissions are paid out monthly, for as long as affiliates in the matrix continue to pay their monthly fees.
If a Money23 affiliate recruits four affiliates themselves, they also receive an additional $60 “welcome bonus”.
Affiliate membership with Money23 is tied to the purchase of a $29 a month matrix position.
Make $192,638.40 within 8 Weeks Guaranteed!
Our 8 week success program guarantees with mathematical precision that every one of our members will earn $192,638.40 (at a minimum) by the end of 8 weeks.
The income guarantee Money23 offer is based on the mathematical ideal that every affiliate will recruit four new affiliates within a week. Also that no affiliates will stop paying $29 a month.
If those conditions are met, a Money23 affiliate could indeed make $192.638 within 8 weeks.
Money23 is a pyramid scheme.
Is this a pyramid scheme?
No! Pyramid schemes are 100% illegal.
Money23 members pay a membership fee that entitles them to licensing for the 8 weeks to riches e-book, ongoing affiliate account access and weekly payments, subscription to the Wisdom From The Pro’s Monthly Newsletter as well as other material and guides.
Call it a “membership fee” and bundle whatever you want with it. At the end of the day Money23 affiliates pay a monthly participation fee, which qualifies them to earn commissions upon recruitment of other affiliates who do the same.
Nothing is marketed or sold to retail customers, meaning all funds deposited and paid out by Money23 are sourced from affiliates.
As with all pyramid schemes, once recruitment of new Money 23 affiliates slows down so too will commission payments.
This will see affiliates at the bottom of the company-wide matrix stop paying $29 a month. This directly impacts the commissions of those above them in the matrix, with those affiliates then also ceasing to pay their fees.
Over time this effect trickles up the company-wide matrix, eventually triggering an irreversible collapse.
Realistically (and even then it’s a stretch), only the anonymous Money23 admin and perhaps a few early adopters are going to fill a substantial number of positions in their matrix.
The system is designed such that most participants won’t recoup their $29 a month in fees, with most of the money paid in filling the pockets of the Money23 admin.
Once the scheme collapses they do a runner, and mathematically the majority of Money23 affiliates lose money.
The terms of service say that the website is subject to the laws of the City of Canberra, Australia so may be the owner is located there unless he’s just copied and pasted the ToS from somewhere else.
He’s using Paypal who will drop him when they find out he’s running a pyramid. The domain is for sale as well.
Australia is a likely possibility. I noticed in the only marketing video for Money23 on YouTube that the host had a distinctively Australian accent.
It says on the website and in the terms that they pay weekly, not monthly as you said.
Affiliate fees are monthly so it’s probably numbers on a screen weekly and then withdrawals monthly.
Or I suppose if they’re using Paypal then they might not be dealing with too many fees. Although with monthly fees charged weekly withdrawals makes little sense.
Paypal doesn’t like pyramid schemes though so don’t expect that to last.