Renowned billionaire businessman, Aliko Dangote, has made a thought-provoking revelation about his personal choices, emphasizing the importance of prioritizing business growth over luxurious indulgences.
In a candid interview with Business Insider Africa, Dangote highlighted the need for young entrepreneurs to shift their focus away from materialistic desires and instead concentrate on nurturing their enterprises.
Dangote’s words cautioned against the tendency to succumb to excessive spending habits.
“In his words, A lot of people, even the younger ones, we need to be very careful because one of the biggest issues with us Africans is that we spend our projected incomes.”
Rather than becoming complacent with early business success, Dangote emphasized the significance of reinvesting profits back into the business.
Dangote went on to highlight how lavish possessions can divert attention and hinder business progress.
Astonishingly, the billionaire businessman revealed that despite his immense wealth, he does not own a holiday home anywhere in the world.
This stands in stark contrast to some of his employees who possess houses abroad for leisure purposes.
He said; “Once you start doing business and the business starts doing well, rather than for you to keep investing into the business, you start spending money and thinking that the profit will continue to come. There are ups and downs in business so you need to be very focused and say ‘Okay fine what do you do and how to do those things.
“Luxury things, they also take up your time which will not make you focus on your business. I mean, I don’t have any holiday home anywhere; I don’t have a house anywhere but I know people who are working for me, they have a house in London. But I don’t.”
