Renowned Senegalese-American artist, Akon, has issued a cautionary message to fellow musicians, including Davido, about the potential financial pitfalls of owning private jets.
Akon shared this insight during his recent appearance on the Impulsive Podcast.
The ‘Blame It On Me’ singer emphasized that celebrities should think twice about acquiring private jets if they aspire to maintain their wealth.
According to Akon, the annual maintenance costs for a private jet alone can soar to an astounding 2-3 million dollars, surpassing the initial purchase price.
Akon offered practical financial advice, stating, “The money you have now has to last you a lifetime.” He encouraged artists to be frugal in their spending habits and explained, “When you reason it that way, you are going to be very prudent.”
In line with his philosophy of financial prudence, Akon added, “If you want to stay rich, stay stingy. I’m the stingiest man on the planet.”
It’s worth noting that some Nigerian musicians, including Davido, and reportedly Wizkid, own private jets, but many opt to rent them for their travel needs.
Akon, whose full name is Aliaune Damala Bouga Time Puru Nacka Lu Lu Lu Badara Akon Thiam, celebrated his 50th birthday in April. Apart from his music career, he is actively involved in philanthropic endeavors.
He founded the Akon Lighting Africa project in 2014, aiming to provide electricity to 15 African countries. Additionally, he established the Konfidence Foundation, dedicated to supporting underprivileged children in Africa.
One of Akon’s most ambitious projects is the creation of Akon City in Senegal, announced in 2018. However, as of now, there has been no significant progress on this initiative.
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