Senegalese-American singer, Akon, has candidly revealed the reason behind his reputation as a “stingy” individual, asserting that such an approach is key to preserving wealth.
Akon shared this revelation during a recent appearance as a guest on the Impulsive Podcast, shedding light on his financial philosophy. According to him, he firmly believes that to maintain a prosperous status, one must embrace a certain level of frugality.
In his own words: “If you want to stay rich, stay stingy. I’m the stingiest man on the planet.”
Furthermore, Akon offered valuable advice to his peers and admirers, cautioning against the acquisition of a private jet if one intends to sustain their wealth. He explained that private jet owners often find themselves spending between 2 to 3 million dollars annually just for maintenance.
Akon emphasized the importance of adopting a mindset that views money as a resource to last a lifetime. He shared, “Whatever you do, do not own a private jet. Bro, owning a jet means spending at least 2-3 million dollars a year just for upkeep and maintenance. You end up spending more on maintenance than the actual cost of the jet itself. This is the advice I offer to everyone. The money you have now must sustain you throughout your lifetime. When you approach it from that perspective, you’ll become exceptionally prudent with your financial choices.”