Senegalese USA-based singer, Akon has advised, people who are well-to-do, to be stingy and not squander their wealth in the name of generosity if they want to remain rich.
Akon, who is the owner of Konvict Music Record Label, gave this advice when he appeared on the latest episode of the Impaulsive podcast.
According to him, he is the stingiest person on the planet and thus, urged others to emulate him so as to stay rich.
“If you want to stay rich, stay stingy. I’m the stingiest guy on the planet”.
He also cautioned celebrities against owning private jets. Akon noted that it costs so much to maintain such jets and will deplete one’s life savings if they attempt at keeping one.
“Owning a jet means you spend two to three million dollars a year just for upkeep. You spend more on maintenance than the actual jet cost.
“This is the advice I give everybody: the money you have now has to last you a lifetime. When you think about it like that, the way you manage everything will be different”.
He revealed he had attempted to own one but had to sell it off just 6 months of keeping it due to the high cost of maintenance.
“I attempted to own a jet, but it only lasted 6 months; I sold that thing so fast. Buy some hours and use it only when necessary, and most of the time use it as a way of negotiating; let that be a part of your strategy to the money, but whatever you do, never own a jet”.
