Being broke is a temporary situation. Being poor is a state of mind.
Meaning of the quote
Being broke means you don't have much money right now, but that can change. Being poor is how you think about your situation, and that's something you can control. It's important to remember that being broke is just a temporary problem, but feeling poor can last longer if you let it.
About Mike Todd
Mike Todd was an American theater and film producer, best known for his 1956 film ‘Around the World in 80 Days’ which won an Academy Award for Best Picture. He was the third husband of the famous actress Elizabeth Taylor, and the only one she did not divorce. Tragically, he died in a plane accident a year after their marriage.