Singer Akon is offering a valuable piece of financial advice: be frugal and avoid splurging if you want to maintain wealth.
During his appearance on the Impaulsive podcast, the Kovict label boss confessed to being exceptionally thrifty, dubbing himself the “stingiest guy on the planet.”
If you want to stay rich, stay stingy.AKON
I’m the stingiest guy on the planet.”
Akon also cautioned fellow music stars and celebrities about the expenses associated with private jet ownership, emphasizing that they entail substantial upkeep costs.
He shared his own experience, stating,
I tried owning a jet, but it only lasted six months; I offloaded it quickly. Instead, consider purchasing hours and utilize it sparingly, mainly as a negotiating tool.
Let it be a strategic asset to your financial planning, but under no circumstances should you own a jet.”
According to Akon, owning a jet translates to shelling out two to three million dollars annually solely for maintenance, surpassing the initial purchase price.
His sage advice extends to everyone: the wealth you possess now must sustain you for a lifetime.
This perspective, he suggests, should influence how you manage your resources.