Entertainment

Davido Reveals Spending Lifestyle of His Uncle ‘Dangote’

Written by maxfmeditor3 on April 27, 2023

Davido Praises Dangote’s Modest Spending Habits

Davido

Nigerian musician and afrobeats superstar, Davido, recently shared interesting insights about his family’s long-time friend and business mogul, Aliko Dangote. According to Davido, the Chairman of Dangote Cement Plc is quite different from other billionaires, as he only purchases two cars every eight years.

Speaking in an interview, Davido lauded Dangote’s discipline and modesty in his spending habits, noting that he is not one to indulge in extravagant purchases. He said, “Uncle Aliko is a very different kind of billionaire. Uncle Aliko buys like two cars every eight years. He’s a very disciplined and very different kind of billionaire.”

Davido further revealed that Dangote and his father have been close friends since childhood. During their encounters, the billionaire businessman often advised him to save money, as he does not believe in frivolous spending. “Every time I see him, he just says one thing, ‘Save your money.’ There’s nothing more he tells me, every time save your money. He and my dad have been very close friends,” Davido said.

Davido also commended Dangote’s contributions to society, particularly in his efforts to create job opportunities through the establishment of industries in Nigeria. “And he has done well for us back home. He made us a lot of industries. He just opened the biggest factory in Africa. That’s providing jobs,” he said.

Dangote is widely recognized as one of Africa’s most successful entrepreneurs and industrialists. He founded and leads the Dangote Group, the largest industrial conglomerate in West Africa, with interests in cement production, sugar, salt, flour, and other commodities. As of April 2023, Dangote’s net worth is estimated to be $20.5 billion, according to the Bloomberg Billionaires Index. He is the richest individual in Africa, the richest black person in the world, and the 83rd richest person globally.

Davido’s comments about Dangote’s frugal spending habits are not the first time the billionaire’s modest lifestyle has been highlighted. In a 2019 interview with Financial Times, Dangote revealed that he has no personal house outside of Nigeria, preferring to stay in his office when he travels abroad. He also expressed his disinterest in owning a football club or a yacht, stating that he prefers to invest his wealth in areas that will create jobs and promote economic growth.

Davido’s admiration for Dangote’s principles and values is commendable, as it underscores the importance of discipline and wise financial management, particularly among high net worth individuals. Dangote’s contributions to Africa’s economic growth and development are equally noteworthy, as his investments have created job opportunities and improved the standard of living for millions of people on the continent.

In addition, the insights provided by Davido about Dangote’s modest spending habits and commitment to creating job opportunities through investments in industry highlight the values and principles that have contributed to the businessman’s success.