"2 Cars Every 8 Years": Davido Shares Financial Advice Aliko Dangote Gave Him on Managing Money

• Davido has revealed the biggest financial advice he received from Aliko Dangote, Africa and Nigeria's richest man
• Davido, who often refers to Dangote as his uncle, shared that Dangote emphasised the importance of financial literacy
• He also revealed that Dangote only buys two cars every eight years, despite being one of the 100 wealthiest people in the world

Nigerian music superstar David Adeleke, popularly known as Davido, has shared some valuable financial advice that he received from Africa's richest man, Aliko Dangote.

Davido, currently in Botswana for the Forbes 30 under 30 summit, revealed in an interview, that Dangote advised him to save and invest in assets.

Chief Content Officer (CCO) of Forbes, Randall Lane, asked Davido, who is known for his love of luxury cars and extravagant lifestyle about, his relationship with Dangote, to which he responded:

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"Uncle Aliko is a very different kind of billionaire, he buys like two cars every eight years.

"Whenever he sees me he only says one thing, save your money."

Nigerians react

The revelation made by Davido sparked reactions from Nigerians on Instagram.

@Henrychika1 wrote:

"He never leaves you without key advice that will change your thinking perspective. When I was still a waiter in 2012, I met him at the VIP section, then I was not a billionaire."

Also, @itisugochukwu added:

"Aliko is a wiseman, he’s not that rich for no reason"

Dangote's net worth

According to data from Bloomberg, Dangote is estimated to be worth $20.5 billion as of Wednesday, April 26th, and is the 81st wealthiest person in the world.

Dangote has strongly advocated saving and investments, which he has demonstrated through his company, Dangote Industries.

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He invests in nearly every sector of the economy, including cement, sugar, salt, oil, fertiliser, packaged food, oil and gas, and most recently, a refinery.

More money for Dangote

In another report, Legit.ng revealed that Africa's richest man is set to walk home with over N293 billion as dividends from his cement company, Dangote Cement.

Aliko Dangote's cement company recorded a revenue jump of 16.96% in 2022 to hit a high of over N1.61 trillion.

Dangote's dividend is more than the budget of 25 states for the fiscal year of 2023.

Source: Legit.ng