News : Akon Says The Key To Staying Rich Is To “Stay Stingy”

Akon is sharing the keys to staying wealthy. The music mogul recently revealed in an interview with Logan Paul, that he has several methods to maintain his financial status. One of the key principles he says he practices is frugality. In addition, in contrast to many of his peers, he refrains from owning a private jet. "Listen, you want to stay rich? Stay stingy,” Akon said on the IMPAULSIVE podcast. "I'm the stingiest muthaf***a on the planet. Any person of my caliber is not flying commercial. These dudes is flying jets all day. I attempted to own a jet. That shit lasted six months. I sold that muthaf***a so fast. You have no idea [of upkeep costs]. I promise you."

Akon elaborated further, suggesting an alternative approach. He emphasized that the annual expenses on a jet due to maintenance were simply not worth it. A different strategy he explained would be more cost effective in the long run. “Buy some hours and use it only when necessary," he continued. "And most of the time, use it as a way of negotiation. Let that be a part of your strategy to the money. But whatever you do, do not own a jet. Bro, owning a jet is spending at least $2-3million a year just on upkeep. You spend more on the maintenance than the actual jet costs.”

Akon Breaks Down Tips To Preserve Wealth

Akon emphasized the importance of treating one's money as a lifelong resource, arguing that adopting this viewpoint would have a lasting effect on how people manage their finances. Another way the "Locked Up" hitmaker apparently saves his hard-earned cash, is to avoid spending money on designer items. In July of this year, Akon appeared on an episode of Drink Champs rocking a black-and-white jacket. However, fans took notice that the fit he was rocking was alleged to be fake Dior. Rapper Symba roasted Akon for his outfit choice, calling him out on his IG story: “That b**ch say ‘Di Rio.’ I thought that was a Dior,” he laughed. “That n**ga say Di Rio. That n**ga Akon out of pocket. I fuck with my n**ga Akon, but this n**ga’s out of pocket. Di Rio.”

Following this, Akon faced mild criticism from numerous industry figures and fans. French Montana, in particular, shared a video on Instagram, showing him spending time with Akon and humorously inquiring about the source of his imitation black-and-white Dior jacket. "The Drio came from one of my Africans," Akon told French Montana. "I’m always supporting my Africans. We go hard for each other. I knew that was gon’ raise engagement. It only takes one person to notice, and it’s gon' go crazy on the internet and it did exactly what we wanted it to do." In conclusion, Akon's insights on finance and his decision to "stay stingy" definitely challenges conventional thinking in an industry known for bling and extravagance.